Browse content similar to 13/02/2012. Check below for episodes and series from the same categories and more!
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regime in Syria. It is time now for the World | :00:05. | :00:15. | |
:00:15. | :00:17. | ||
Business Report. The headlines: Protests on the | :00:18. | :00:21. | |
streets of Athens as Parliament agrees to back the painful | :00:21. | :00:29. | |
austerity measures. Growth in Japan shrinks more than | :00:29. | :00:34. | |
expected, the strong yen and floods in Thailand have her at its | :00:34. | :00:43. | |
manufacturing chains. -- damaged. | :00:43. | :00:47. | |
Greek politicians have pushed through the much-hated, painful | :00:47. | :00:53. | |
austerity measures which are demanded in return for a loan to | :00:53. | :00:59. | |
save them from default. Tens of thousands protested against the | :00:59. | :01:06. | |
cuts, they were mostly peaceful during the day, later, police fired | :01:06. | :01:09. | |
tear-gas as protesters threw stones and petrol-bombs. Some buildings | :01:09. | :01:19. | |
:01:19. | :01:21. | ||
were set on fire. We are joined from Athens. Tell me | :01:21. | :01:24. | |
something about the atmosphere there. We saw the pictures of the | :01:24. | :01:30. | |
violence, brought about in the parliament? There are tensions in | :01:30. | :01:36. | |
Parliament as well. This was a very important vote. There was a big | :01:36. | :01:40. | |
debate about whether this should be the way forward for Greece. | :01:40. | :01:49. | |
Obviously, some parties on the left were opposed, but all in all I | :01:49. | :01:56. | |
think it went smoothly. It passed with a comfortable majority. What | :01:56. | :02:00. | |
about out in the wider population? We see people throwing stones, but | :02:00. | :02:07. | |
beyond that is their support in the country for what is being done in | :02:07. | :02:12. | |
Parliament? Obviously, nobody likes this. You have to bear in mind we | :02:12. | :02:22. | |
have been through this programme for almost two years. There is more | :02:22. | :02:30. | |
to come. Obviously, people are not fond of that. At the same time, 70% | :02:30. | :02:38. | |
of the Greek population wants to stay in the eurozone. The current | :02:38. | :02:43. | |
prime minister, Mr Papademos, has made quite clear that this is a way | :02:43. | :02:48. | |
for Greece to stay in the eurozone. In that respect, I believe that | :02:48. | :02:57. | |
these measures are not something that make any Greek people happy, | :02:57. | :03:01. | |
but at the same time, Greeks hope that through these measures we can | :03:01. | :03:06. | |
stay in the eurozone and become more competitive. I think that most | :03:06. | :03:10. | |
of the population still believes this is the way to go, even though | :03:10. | :03:15. | |
it hurts a lot. Thank you very much. | :03:15. | :03:25. | |
:03:25. | :03:31. | ||
Let's go to Brussels. A popular think tank that advises governments, | :03:31. | :03:40. | |
Redefine, is speaking with us now. These measures will work. I think | :03:40. | :03:46. | |
that the answer is, almost across the board, in the face of the | :03:46. | :03:50. | |
social fabric of Greece being almost torn apart, the fact that | :03:51. | :03:58. | |
the economy is still in freefall... It seems highly unlikely, or | :03:58. | :04:01. | |
whether the parliament has voted on some measures or not, that the | :04:01. | :04:06. | |
government will be able to implement these in the face of the | :04:06. | :04:10. | |
economic and social position within the country. Therefore, the natural | :04:10. | :04:16. | |
progression of things would be a default and then leaving the | :04:16. | :04:21. | |
eurozone? I am not sure. That is not a particularly satisfactory | :04:21. | :04:27. | |
answer. One thing is clear - we need a change of course, both from | :04:27. | :04:37. | |
:04:37. | :04:38. | ||
the perspective that the European Union and the IMF is asking Greece | :04:38. | :04:48. | |
:04:48. | :04:53. | ||
to follow... I think there is a strong need four-course corrections | :04:53. | :05:01. | |
where it leaders need to make changes and demonstrate their | :05:01. | :05:06. | |
efforts and demonstrate good faith in order to avoid an even worse | :05:06. | :05:14. | |
outcome, which would be a eurozone exit. What would this direction be? | :05:14. | :05:24. | |
What kind of changes? What else is there they can do? The reforms have | :05:24. | :05:30. | |
not been enacted. In terms of austerity, slowing down the pace of | :05:30. | :05:33. | |
austerity, getting the European Investment Bank to put money into | :05:33. | :05:38. | |
Greece to stimulate growth, to change the mood in Greece so that | :05:38. | :05:42. | |
people and businesses, very importantly, expect that tomorrow | :05:42. | :05:45. | |
or the day after tomorrow, will be better than today. Right now there | :05:45. | :05:50. | |
is no light at the end of the tunnel in Greece. The people | :05:50. | :05:58. | |
realise this. They realise the fundamental problems. | :05:58. | :06:05. | |
Some weaker than expected growth from Japan - the economy shrank 2.3 | :06:05. | :06:13. | |
% on an annualised basis. The Cabinet Office remained upbeat. | :06:13. | :06:18. | |
Let's go to Tokyo. Take us through - it seems they have been hit by a | :06:18. | :06:23. | |
storm of bad news. Can you explain what the things are that have | :06:23. | :06:30. | |
affected this outcome? What we are seeing here it is external factors | :06:30. | :06:34. | |
battling against internal factors. The reconstruction after the | :06:34. | :06:44. | |
earthquake and March tsunami should mean that Japan's economy is doing | :06:44. | :06:52. | |
well. The crisis in Europe is hurting Japan, the yen is strong, | :06:52. | :06:55. | |
undermining the competitiveness of Japanese companies because of the | :06:55. | :06:58. | |
prices in Europe. Last year, the floods in Thailand, lots of | :06:58. | :07:08. | |
Japanese companies have factories there, they were hit. On a quarter | :07:08. | :07:15. | |
by quarter basis, Japan's economy shrank by 0.6%. On an annualised | :07:15. | :07:19. | |
basis, if it continues on that projection, it will be a decline of | :07:20. | :07:25. | |
2.3%. Bad news for Japan's economy. Obviously the Thailand factor will | :07:25. | :07:29. | |
work its way out of the figures. The other two things - is there | :07:29. | :07:33. | |
anything that the government or the Bank of Japan can do to put things | :07:33. | :07:39. | |
right was met the Bank of Japan is beginning a two game monetary | :07:39. | :07:49. | |
:07:49. | :08:06. | ||
policy meeting today. It is possible thessible theect -- two | :08:06. | :08:16. | |
:08:16. | :08:25. | ||
day.... Tete que will file its quarterly earnings tomorrow. | :08:25. | :08:34. | |
In the United Kingdom, modest growth should start later this year. | :08:34. | :08:41. | |
Growth of 0.9% in 2012 was achieved and 2% next year is forecast... | :08:41. | :08:45. | |
There should be new equipment and new markets found. | :08:45. | :08:54. | |
President Barack Obama is expected to announce short-term measures to | :08:54. | :08:59. | |
speed up the nation's economic recovery. That comes together with | :08:59. | :09:03. | |
taxes on corporations and the rich. The new budget has to be agreed | :09:03. | :09:09. | |
between the White House and Congress, which means months of | :09:09. | :09:17. | |
political wrangling. Let's look at a -- let's look at | :09:17. | :09:24. |