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HARDtalk Review of the Year

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streamline the system. Up those are the headlines. Now it is time for

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HARDtalk review of the year. Welcome to a special year Indian

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edition of heart Oct. It is a chance to look back at some of the

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most memorable encounters. A A u. - - a year-in doing addition of

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HARDtalk. London is the financial centre of Europe. The question is,

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is the European economy on the brink of collapse? What does that

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mean for the world economy. Much of the focus is on grace. Much of --

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if Greece to faults, Europe will follow it. -- if Greece to faults.

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Even in the worst possible crisis for the euro in history, it is an

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extremely strong currency that has lost 10 cents in the past year and

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then regained them. A look at a Euro that has almost not suffered

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at all. Greece, in spite of those numbers, has not collapsed.

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Everybody is predicting it will. you look at the bond markets and

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the ratings agencies, the message is that sooner or later, however

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many an emergency measures you leaders used, Greece will of what

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we have to default stop Mellor I do not think so. The message of the EU

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is very clear. They will not allow such an account in the Greek crisis.

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Jack Straw, who was British Foreign Secretary for years, he said just

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the other day that the euro in its current form is going to collapse

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and it is better if this happens quickly rather than at the slow

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death stop iller it has been announced a long time ago by many

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people. The euro is still there. Deeply unhealthy. I do not think so.

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The euro has some difficult is to Facebook we are facing them. There

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is no threat of collapse. So, as a significant default. Is that

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possible with grease inside the eurozone? Yes, you can have a

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controlled the fault and remain within the eurozone. That is what

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is necessary. Postponing the day of reckoning can make it much worse.

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It is becoming a little alarming, the size of package the eurozone is

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talking about. Mr Papadopoulos, do you ever think that borrowing more

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money from the Central Bank simply to allow Greece to service their

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debts to other European banks is doing us no favours, harming the

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interests of our own people and simply looking after the interest

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of the be European banks? Would it not be better for your own people

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to default? Of course not. Because if you declare a default then it is

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like committing suicide. Your banks will be destroyed. Your economy

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will be cut off from the rest of the world. We are end into integral

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part of the European Union. Greece will leave the eurozone. Whoever is

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left in the eurozone will be in a tighter fiscal and regulatory union

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than now. When they start looking at that it will be very hard to

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keep Greece. And a whole host of countries far removed from London

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including China, India and Brazil were growing at an impressive rate

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in 2011. But here in western Europe that is a sense that the economic

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party is over and the hangover is likely to linger for use. What we

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see across the OECD up budget deficits running on average at 7.5%

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of GDP. -- linger for years. Amongst the industrialised nations

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there has been a fundamental failure of political leadership.

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Would you agree? The problem of bringing down those deficits today

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is not and the very important, but it will come our allies for a

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generation. --, out lives for a generation. First we must stop the

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rot. The debt will rise as a percentage of GDP for several years.

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By the time we stopped we will not be able to prove. We will need

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another effort to get it down to a more manageable level. By that time,

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an ageing will come into these countries and that will report

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require another few points of GDP. -- that will require. This will

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take 15 or 20 years stop what you are one of the most respected fund

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managers in the US. Do you feel under more pressure then you have

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ever felt before? I feel more worried and scared. Not just as a

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fund manager, but as a father. Every day when I kiss my daughter

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goodbye, I wonder what world she will inherit, given the head wins

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that we are facing at the level of countries, regions and the global

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economy. I am worrying as a fund manager but more as a parent.

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has been plenty of economic uncertainty this year, but there

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has also been anger directed at corporations. I have come to the

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occupied protest outside St Paul's Cathedral in London, one of many

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across the western world. People here have been inspired by the Arab

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Spring, the wave of popular uprisings which saw authoritarian

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rulers topple in Tunisia, Egypt and Libya. The question there, of

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course, is what next? In October I went to Egypt to look at their

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revolution are closed. -- up close. October 9th was a turning point in

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the course of the Egyptian revolution. Thousands of

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demonstrators, mostly Christians, gathered outside the state

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television building, protesting about a spate of sectarian attacks.

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The response was brutal. Protesters were hit by sniper fire and

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armoured vehicles. 27 demonstrators were killed. The forces of

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repression have made them mark. Once again the internet is staking

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out revolutionary passion. This web designer is blocking and organising.

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He is part of a network committed to confronting what he sees as a

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military counter revolution. We all talk about the Egyptian revolution.

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As the revolution happened or is it yet to happen in? The revolution is

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just getting started. Why are you so cautious? When we took the

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streets in January, it was not just because of Hosni Mubarak. We wanted

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the downfall of the regime. They'd just replaced the figurehead. That

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is not what we want. I drove into central Cairo to meet the media

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revolutionaries determined to challenge the Red Lions imposed by

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the military. -- red lines. This is a new network named after the day

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the revolution started. All the staff are young people plucked from

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the demonstrations. They are trying to win it editions offer a diet of

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state propaganda. But when they broadcast live pictures of the 9th

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October killings, armed troops raided the studio. Protesters

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screamed and became an internet sensation. This is one of the best

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known television journalists. She quit state TV in protest against

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censorship when the revolution began. Then new managers persuaded

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her to return, promising a return took -- in into two or interference.

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Quotable or not? How much genuine freedom as the Egyptian media have

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today? Very little. There has been a progression in freedom since the

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revolution. We thought things would be different. -- a regression in

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freedom. At the beginning there was a small ray of light because new

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channels and publications were being launched and I saw it

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becoming a more vibrant media with greater diversity. But all our

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hopes were -. As a minister in the Government, you are responsible

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ultimately to the Supreme Council of the armed forces. Are you

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convinced of their commitment to democracy and freedom? TRANSLATION:

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A functioning democracy is about more than just voting. It is about

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all the institutions of a civil all the institutions of a civil

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society. What we see right now in Egypt a military courts and

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civilian protesters, thousands of them, being put before military

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courts and sent to military prisons. Do that is not right. There are

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still people going to the military court. Loggers have been sentenced

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inside a military court to use in prison because of things they have

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written. It is still happening in this country. -- to use. -- years.

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The Ministry of Information was a symbol of the old regime where

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censorship took place and the press was manipulated. If you wanted to

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break from the past, why do you continue to sit in your chair as

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minister of information? Would it not have been better to abandon

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people here want radical change, not just in politics, but in the

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economy as well. Workers are pushing for better pay and

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conditions. The unemployed are demanding work. Everybody wants to

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see an end to the period of corruption. The revelation faces a

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fundamental challenge. Can it deliver a new economic deal for

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Egypt? In Egypt, growth has stalled, unemployment is rising. The

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economic angered that fuelled the Arab Spring has not gone away. With

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its main streets hugging the Mediterranean Shaw, Alexandria can

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still avoid memories of a golden age of prosperity. -- Mediterranean

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Shaw. But get away from the sea into the poorer neighbourhoods

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engine into a very different world. -- shore. This is one of the

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poorest parts of the city. I have been invited by local people to see

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how ordinary people have to leave in Alexandria. We will go into the

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depths of the neighbourhood. It is very narrow. What we have our

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families living in desperate conditions. Here there is a family

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of six living in one room. If we go into the neighbourhood a bit

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further we find a toilet. This toy that has to serve the entire

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building. It is barely a building. There are dozens of people relied

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on this one tour of it. -- Reliant. Muhammad has lived here all his

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life. He is out of work and near the out of hope. -- newly. --

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The Mubarak again St ranch Egypt as a family business. Swiss banks have

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frozen hundreds of millions of dollars in the Mubarak accounts.

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They embraced capitalism, but on their terms. And now the cracks are

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beginning to show. There is wealthy in Egypt, but it has not spread.

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The old economic order looks increasingly unsustainable. And now,

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when one of the country's Regis meant, whose family founded a

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conglomerate, looks out of his 26th floor apartment, he sees the city

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again convulsed by a political violence and the future has routed

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in uncertainty. Entrepreneurial spirit and new investment. How will

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that be delivered when this economy is in limbo. There is no leadership,

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no strategy and that nobody knows we the economy is going. It is not

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going to happen and this economy will go bust in a few months. Who

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it will invest when you do not have a democratically elected

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government? Do you think of survival is at stake it? Do you

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think there is a real possibility that it could go under? Yes. The

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$30 billion which were promised, we have seen zilch. In my personal

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opinion, they do not want this revolution to succeed. If it does

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succeed, it is like a disease. That is my opinion. This is a great

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country. Even if it goes bust, it will rise again. I am not upset

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with the government or the army. I am upset with my people. If we want

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to change this country, the people have to change. You cannot work for

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three or four hours a day and expect things to get better.

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long will it take to change the people? Nothing more graphically

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illustrated the revolutionary spirit in the Arab world than the

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demise of Colonel Gaddafi. Just days after he was shot dead, I went

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to Jordan to meet at Mahmoud Jibril, Libya's interim prime minister. You

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seem to be walking away from this. You said, days ago that when

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liberation is officially announced, which is about to happen as we

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speak and will signal the end of the conflict, you said, I am

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walking away. I quit. Why? I think it I will try to develop a civil

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society organisation in Libya. I still believe Libya can be a model

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for the Arab Spring if we let those who initiated this revolution

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develop a political platform which reflects their own dreams, not ours.

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And organise themselves. Then we have a new brand of leadership.

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amid all the talk of new leaders, a new Middle East, 2011 saw the

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demise of another Thiago who had wilted significant influence in the

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region over the past 15 years. Osama Bin Laden. He was killed by

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US special forces in Pakistan, we had been hiding for years. Had

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Pakistan known of his location? Was Islamabad air that a genuine

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partner? We now know that from 2005 when you were in power Osama Bin

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Laden was living within earshot are of Pakistan's most prestigious

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military camp in Abbottabad. We know that she failed. What about

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the people that we caught from number three downwards, dozens of

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them. Why do you always see the glass half-empty? What about a half

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full part? Every individual from number three downwards was caught

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by Pakistan. What do you think of that positive? To Grote Robert

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Gates, the former Defence Secretary, you played both sides. Is signed up

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to the US war on terror bad at the same time you did not give up your

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ties to Islamist movements including the Taliban. That is

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baseless. I have always maintained excellent relations with President

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Bush and Colin Powell. It is complicated in itself. They are the

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people who ordered the assistant Secretary of State did Armitage to

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tell you that if he did not join in after 9/11 that Pakistan would be

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bombed back to the Stone Age. You started it on the basis of a threat.

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You must have resented that for the rest of your time in office. After

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that, when I joined the Coalition, how did events take place in the

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seven years beyond is the question. That is where I think we were

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delivering and we have taken... And that is where my relationship with

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President Bush and Colin Powell developed. This has been the year

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that has challenged assumptions. The Western economy has looked

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alarmingly vulnerable. The Middle East is in a state of unprecedented

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flux. Beautiful art can inspire us, captivate us, even in the toughest

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of times. And this here the HARDtalk test who best embodied the

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inspirational power of art was Carlos Acosta, the Cuban Ballet

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dancer long regarded as one of the world's greatest. Sometimes you

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have said things like: The pain, my hips, every time I do the splits it

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hurts. And you ask yourself, is it worth it? The art is beautiful and

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someone has to do it, but it does not have to be used. Well, you know,

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:23:05.:23:06.

I get there. I still think I have what it takes. It is difficult

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sometimes. Difficult to know when it is the right time. I am not 40

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yet. On I think I still represent the quality that people like for my

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dancing. It is not very far away now. You are saying that with a

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smile, as they you are not frightened of that prospect. I am.

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You know when you have this relationship and he spent 30 years

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Marite but for some reason you don't feel that you can be together

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any longer. And then for some reason you still have the memories:

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This is the woman you love who gave you all these memories but you

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can't be to get any more. That is me and ballet. It is very difficult

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for me to accept that truth. HARDtalk well, of course, keep the

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