Browse content similar to 05/10/2011. Check below for episodes and series from the same categories and more!
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It's the threat of another banking crisis, and not a speech to a huge | :00:11. | :00:13. | |
conference hall that keeps political leaders awake at night. | :00:13. | :00:17. | |
Is there a plan to stop another crash? How close are we to a | :00:17. | :00:22. | |
banking meltdown? And is there a way to prevent it? With Greece in | :00:22. | :00:24. | |
turmoil once again, the markets seem to think that Europe's leaders | :00:24. | :00:28. | |
are about to act. But is that just wishful thinking? | :00:28. | :00:33. | |
We discuss who's going to default, who's going bankrupt, and who's | :00:33. | :00:36. | |
left carrying the can. Meanwhile, the Prime Minister | :00:36. | :00:41. | |
shares with us his views on borrowing. The only way out of a | :00:42. | :00:44. | |
debt crisis is to deal with your debts. | :00:44. | :00:48. | |
And on mortgages. Because the lenders won't lend, the builders | :00:48. | :00:53. | |
won't build, and the buyers can't buy. We're going to sort this out. | :00:53. | :01:01. | |
So are we supposed to borrow money or not? | :01:01. | :01:04. | |
The Syrian Government lets Lyse Doucet into the town where soldiers | :01:04. | :01:07. | |
have clashed with protestors, there is no problem at all. We haven't | :01:07. | :01:11. | |
talked to one person in Duma. We haven't spoken to a single person. | :01:11. | :01:19. | |
You want us to go, OK, we're going. Also tonight, the moods of the time, | :01:19. | :01:24. | |
and music of the time. You know I hate rembering, I can't bear it, it | :01:24. | :01:31. | |
is all past, you know. Brian Eno, veteran musician and | :01:31. | :01:36. | |
record producer is here to talk about what these horrible economic | :01:36. | :01:45. | |
circumstances might do for modern music. | :01:45. | :01:49. | |
The British news machine was focused on Manchester today. | :01:49. | :01:53. | |
Dutifully dancing attendance on the Prime Minister's speech to the | :01:53. | :01:57. | |
Conservative Party Conference. But decisions of much more importance | :01:57. | :02:00. | |
than anything announced there, were being mulled over elsewhere. For | :02:00. | :02:05. | |
the crisis in the euro has now become a banking crisis. And the | :02:05. | :02:09. | |
possibility of a catastrophic collapse had the German Chancellor | :02:09. | :02:18. | |
promising today to shore up banks the European Union muttering about | :02:18. | :02:24. | |
similar and the sper national monetary - International Monetary | :02:24. | :02:28. | |
Fund talking about getting involved. Is there any plan emerging to shore | :02:28. | :02:32. | |
up the banks? Four months ago, in the middle of the last Greek crisis, | :02:32. | :02:36. | |
I remember being briefed by people close to this action that there was | :02:36. | :02:40. | |
a danger of another Lehman Brothers. If we let Greece default it would | :02:40. | :02:43. | |
shoot through the system and cause another Lehman Brothers. Four | :02:43. | :02:48. | |
months on, all the signs are that many of the stresses in the system | :02:48. | :02:52. | |
are higher than they were when Lehman collapsed. There was a | :02:52. | :02:56. | |
danger, it is not inevitable, that we could have a similar kind of | :02:56. | :03:00. | |
crisis, at more or less any moment. Against this you have to judge what | :03:00. | :03:03. | |
the actions are. There are just three things that need to be done. | :03:03. | :03:07. | |
Greece needs to be sorted out. It is either defaulting or not | :03:07. | :03:11. | |
defaulting. But there is a committee chewing its pen sit, | :03:11. | :03:15. | |
right now in Athens, deciding - pencil, right now in Athens | :03:15. | :03:20. | |
deciding whether or not to do that. The banks need to be recapitalised, | :03:20. | :03:24. | |
someone needs to say there is a plan, not what it is, just a rough | :03:24. | :03:27. | |
outline and people agree it. That too, we have not had that today. | :03:27. | :03:33. | |
Then the big countries, bubbling on the edges, Spain and Italy, which | :03:33. | :03:36. | |
have more structural problems, not so urgent as Greece, but probably | :03:36. | :03:40. | |
bigger. Somebody needs to work out what is to be done about them. I | :03:40. | :03:46. | |
just, with protestors on the streets of Wall Street, protests | :03:46. | :03:52. | |
going all over America, not yet on the scale we see in Greece and | :03:52. | :03:58. | |
Italy, but people generally expressing their disquiet. The | :03:58. | :04:05. | |
short answer is today's been almost day of inaction and going backwards. | :04:05. | :04:11. | |
The bad news drips out day by day, Greece set to miss its budget | :04:11. | :04:15. | |
target. Dexia, the Belgium bank, in trouble, Italy downgraded, and | :04:15. | :04:20. | |
ominously, the bad news flow is speeding up. Faced with the dlet of | :04:20. | :04:27. | |
a Greek debt default, the banks most exposed are showing. It is | :04:27. | :04:31. | |
Dexia, based in Belgium, but so big it would have to be bailed out and | :04:31. | :04:36. | |
broken up with French help. Dexia is not a very big bank. It is | :04:36. | :04:41. | |
partly French and partly Belgian. There is doubt about which country | :04:41. | :04:45. | |
stands behind it. It has a lot of exposure to sovereign debt, | :04:45. | :04:48. | |
particularly Greece. There are reasons to worry about Dexia, on | :04:48. | :04:51. | |
its own it is small. The bigger concern is people will start to | :04:51. | :04:54. | |
worry about other banks, they are even talking about Deutsche Bank, | :04:54. | :04:58. | |
the biggest bank in Europe. Next in the firing line, French banks, and | :04:58. | :05:04. | |
they are not just exposed to Greece. This is a mesh of the default risk | :05:04. | :05:07. | |
This is a mesh of the default risk faced by 25 major global banks. It | :05:07. | :05:12. | |
is higher now than in 2008, that reflects fears of a global slowdown, | :05:12. | :05:16. | |
a second credit crunch, and political paralysis. Suddenly there | :05:16. | :05:22. | |
is talk of bank recapitalisation, as in 2008, a mixture of Arab and | :05:22. | :05:27. | |
far eastern billions and state bailouts. Who will organise it? | :05:27. | :05:32. | |
Chancellor Merkel today came round to the idea in principle. | :05:32. | :05:35. | |
TRANSLATION: The German Government, as the Finance Minister has made | :05:35. | :05:39. | |
very clear in the last two days, stands ready to implement such a | :05:39. | :05:43. | |
capitalisation of the banks if it is needed. We need criteria, we are | :05:43. | :05:46. | |
under time pressure wrecks need to make a decision quickly. The IMF | :05:46. | :05:51. | |
seemed to make a decision today. It volunteered to pile in, alongside | :05:51. | :05:58. | |
Europe, and start rescuing banks Europe, and start rescuing banks | :05:58. | :06:02. | |
itself. There are many other possiblities that are now opened up | :06:03. | :06:09. | |
by this new model for the FSF that we could envisage and we would be | :06:09. | :06:13. | |
ready to make that role. Like ourselves, many other private | :06:13. | :06:17. | |
investors. This is revolutionary, creative, thought the journalists. | :06:17. | :06:23. | |
Within hours, the IMF had retracted the proposal. Moody's last night | :06:23. | :06:26. | |
downgraded Italy's credit rating by three notches, and gave three | :06:26. | :06:30. | |
reasons. And again, it is down to more than just Greece. They cited | :06:30. | :06:35. | |
the increased risk that Italy would default, the downturn in the global | :06:35. | :06:40. | |
economy, and political leadership uncertainty. A sideswipe at Silvio | :06:40. | :06:47. | |
Berlusconi's chaotic Government. Shows at the centre of the 2008 | :06:47. | :06:50. | |
bailout are exasperated at the foot-dragging and inaction. They | :06:50. | :06:55. | |
need to understand the lessons we learned in 2007/08. The first is, | :06:55. | :07:00. | |
act very quickly, secondly, overshoot market expectation, | :07:00. | :07:09. | |
thirdly, act comprehensively, seal off all the avenues of attack, and | :07:09. | :07:12. | |
lastly, don't disagree with each other in public. They haven't | :07:12. | :07:16. | |
learned one of those lessons. Greece it is a deluge of rhetoric, | :07:16. | :07:20. | |
protest, tear gas, and economic pain. Few doubt where it will end. | :07:20. | :07:27. | |
Really, Greece is in a situation where it is insolvent, and the deal | :07:27. | :07:31. | |
agreed on its behalf with banks is insufficient to make it solvent. So | :07:31. | :07:35. | |
it needs to have a further restructuring. They need to | :07:35. | :07:40. | |
actually have a firewall between Greece, which is insolvent and | :07:40. | :07:44. | |
Italy and Spain, which has liquidity issues. So it has been | :07:44. | :07:49. | |
another day of rioting andify finance, with nothing solved, and | :07:49. | :07:52. | |
very - at high finance, with nothing solved and very few | :07:52. | :07:56. | |
questions answered. Joining us now is Lord Myners, the | :07:56. | :07:59. | |
former finance secretary, who organised the recapitalisation of | :07:59. | :08:03. | |
the banks here in 2008, Tracey Corrigan, editor of the Wall Street | :08:03. | :08:07. | |
Journal, Europe, and from our studio in Washington, we're joined | :08:07. | :08:11. | |
by the kpwheist, Dr Robert Shapiro, who advised President Obama, and | :08:11. | :08:15. | |
now the IMF. How close are we to banking | :08:15. | :08:19. | |
meltdown? We are already in a banking crisis, demonstrated by the | :08:19. | :08:22. | |
fact that banks are no longer able to finance themselves, many of them | :08:22. | :08:26. | |
in the short-term markets, they are having to rely on the European | :08:26. | :08:34. | |
Central Bank. The closer we get to that abyss the more concrete the | :08:34. | :08:40. | |
plan will be that the Government, that the IMF or EFSF, will have to | :08:40. | :08:45. | |
come up with to convince the market we are not about to go into a | :08:45. | :08:48. | |
meltdown. Robert Shapiro, how does it look from where you are? | :08:48. | :08:52. | |
looks very serious, there has been an underlying problem from the | :08:52. | :08:55. | |
beginning, that is a monetary union can only survive if the full faith | :08:55. | :09:00. | |
and credit of the union is behind the full faith and credit of each | :09:00. | :09:05. | |
member. The problem for the eurozone is there are only really | :09:05. | :09:09. | |
about six members, and only one large one, who have really sound | :09:09. | :09:17. | |
full faith and credit. The problems have really outpaced the capacity | :09:17. | :09:22. | |
of the eurozone's arrangements to address them. So consequently they | :09:22. | :09:27. | |
have to go to more radical reforms. So, just leaving the question of | :09:27. | :09:32. | |
the reform of the euro, to one side, looking specifically at the banking | :09:33. | :09:36. | |
crisis which this has developed into, Lord Myners, you were in | :09:36. | :09:41. | |
charge of the recapitalisation of the banks in 2008, what should be | :09:41. | :09:45. | |
done? Decisive action. Without any further delay. In this type of | :09:45. | :09:49. | |
situation, if you delay, it becomes more costly. The banks need a | :09:49. | :09:56. | |
significant increase in capital. A minimum of 50 billion euros, | :09:56. | :10:01. | |
possibly as much as 150 billion. Plus more liquidity and decisive | :10:01. | :10:04. | |
action by the regulators to agree some new common standards about | :10:04. | :10:10. | |
capital. The key thing is to move with determination and with a | :10:10. | :10:13. | |
comprehensive programme. It is very interesting f it is as plain as the | :10:13. | :10:17. | |
nose on your face, why hasn't anyone done it? Because none of the | :10:17. | :10:22. | |
political leaders want to have to tell Tony Blair tax-payers that | :10:22. | :10:26. | |
once again they are car - to tell their tax-payers that once again | :10:26. | :10:30. | |
they will be carrying the can for this. What do you think? It is not | :10:30. | :10:34. | |
just the money, they have to come up with a set of arrangements, | :10:34. | :10:42. | |
which will assure global investors that if the problems in sovereign | :10:42. | :10:46. | |
debt continue that there will be, that there is access to a great | :10:46. | :10:50. | |
deal more money. The amount of money required to recapitalise at | :10:50. | :10:56. | |
this point, may be a small traction of what would be required if we had | :10:56. | :11:00. | |
a - fraction of what would be required if we had a full blown | :11:00. | :11:04. | |
crisis on Italian and Spanish sovereign debt. Is there enough | :11:04. | :11:09. | |
money physically to do it, Lord Myners? This would require the | :11:09. | :11:14. | |
combined resources of national treasures, the union Financial | :11:14. | :11:23. | |
Stability Facility, and the IM - national treasure rees, the | :11:23. | :11:26. | |
European Financial Stability Facility, the IMF is not willing to | :11:26. | :11:29. | |
step in and provide funds, the Governments have to say they will | :11:29. | :11:33. | |
be there with capital and compel the banks to take capital. That | :11:33. | :11:37. | |
means tax-payers? Yes. It is interesting the IMF is talking | :11:37. | :11:44. | |
about coming into it, if reluctantly, there is clearly a | :11:44. | :11:48. | |
worry that the eurozone won't get it sorted out and may need the IMF | :11:48. | :11:55. | |
as a backstop. Who are the main problem makers, let's Naimos? | :11:55. | :11:59. | |
structural, you have to get - name names. It is structural. You have | :11:59. | :12:04. | |
to get all the countries to agree. In the turnt extension of the EFSF, | :12:04. | :12:10. | |
that is going on at the moment, we are waiting for a vote in Slovakia, | :12:10. | :12:14. | |
where a junior partner in the coalition is holding things up. | :12:14. | :12:24. | |
:12:24. | :12:25. | ||
Let's suppose political leaders remain resistant, what happens? | :12:26. | :12:29. | |
they cannot address this in a credible way, I believe within two | :12:29. | :12:33. | |
to three weeks we will have a meltdown in sovereign debt, which | :12:33. | :12:37. | |
will produce a meltdown across the European banking system. We are not | :12:37. | :12:41. | |
just talking about a relatively small Belgium bank. We are talking | :12:41. | :12:45. | |
about the largest banks in the world, the largest banks in Germany | :12:45. | :12:49. | |
and France. That will spread, it will spread to the United Kingdom, | :12:49. | :12:53. | |
in part through sovereign debt problems in Ireland, it will spread | :12:53. | :12:57. | |
everywhere because the global financial system is so | :12:57. | :13:02. | |
interconnected they are each, all the banks, counter parties to every | :13:02. | :13:06. | |
significant bank in the United States and Britain, Japan, and | :13:06. | :13:10. | |
around the world. This would be a crisis that would be, in my view, | :13:10. | :13:19. | |
more serious than the crisis in 200. - 2008. Is he exaggerating? I wish | :13:19. | :13:23. | |
I could give a more cheerful complex. We are on the verge of a | :13:23. | :13:27. | |
perfect storm. A number of European countries cannot raise money, banks | :13:27. | :13:29. | |
are therefore increasingly worried about the default, therefore people | :13:29. | :13:33. | |
won't lend money to banks, therefore banks won't lend money to | :13:33. | :13:37. | |
business. Something has to be done. It has to be done substantially | :13:38. | :13:42. | |
across the whole of Europe. If you do it individually, country by | :13:42. | :13:47. | |
country, you simply shift the focus from one bank to another. That is | :13:47. | :13:53. | |
why in October 200, we obliged all UK banks to increase capitalisation. | :13:53. | :13:59. | |
We are often accused, journalists of being apocalyptic, this is an | :13:59. | :14:03. | |
apeople lips. What happened to the spirit of the G20? You can still | :14:03. | :14:08. | |
see a way round this, on a more positive note. You can still see a | :14:08. | :14:13. | |
way of taking concerted action which would now, the banks have | :14:13. | :14:16. | |
short-term funding, they can get short-term funding from the | :14:16. | :14:19. | |
European Central Bank. There is not an immediate liquidity crisis. If | :14:19. | :14:23. | |
we get a situation where the banks are recapitalised, and the Greek | :14:23. | :14:26. | |
situation sorted out, and the markets convinced that Spain and | :14:26. | :14:31. | |
Italy, which are really the big ones, will get through this, even | :14:31. | :14:35. | |
with some trouble. If we can push things out a couple of years until | :14:35. | :14:40. | |
that happens, it can still be averted. Are we talking about a | :14:40. | :14:43. | |
crisis that affects, apart from the taxpayer, who has to pay out if | :14:43. | :14:47. | |
action is taken. If the banks go under, does it affect ordinary | :14:47. | :14:50. | |
people? It will have an effect on economic activity. It is worthwhile | :14:50. | :14:55. | |
saying that the UK banks are pretty strongly capitalised. This is not a | :14:55. | :15:01. | |
problem for UK and Scandinavian banks. You have already heard Dr | :15:01. | :15:05. | |
Shapiro say it will affect UK banks? It will affect the UK | :15:05. | :15:08. | |
economy, which is why we have an interest in the economy. The UK | :15:08. | :15:11. | |
banks n relative terms are very well capitalised compared with most | :15:11. | :15:16. | |
European banks. Well, what we don't know, we do know, for example, in | :15:16. | :15:20. | |
the United States, there is relatively, our banks have | :15:20. | :15:22. | |
relatively little exposure to European sovereign debt. They have | :15:22. | :15:27. | |
been getting rid of those holdings for a year. However, no-one knows | :15:27. | :15:32. | |
the state of credit default swaps held by these institutions, again | :15:32. | :15:37. | |
sovereign debt, and against European banks. Nor do we know the | :15:37. | :15:41. | |
state of Credit Default Swaps held by British banks. Nor are we | :15:41. | :15:47. | |
certain of how serious the exposure of British banks is to the Irish | :15:47. | :15:52. | |
sovereign debt problems. What needs to happen night now, Lord Myners? | :15:52. | :15:56. | |
Very significant agreement across Europe to recapitalise the banks. | :15:56. | :15:59. | |
This problem can be solved, it is within the wit of man to do t but | :15:59. | :16:03. | |
it requires the political will of Europe's leaders to agree a | :16:03. | :16:07. | |
programme as soon as possible. Thus far we haven't seen it, have | :16:07. | :16:11. | |
we? No, they are talking in more urgent terms about the plan for the | :16:11. | :16:15. | |
plan, but we haven't got the plan yet. We need to get that now. | :16:15. | :16:22. | |
Thank you very much. We really need two things, not only | :16:22. | :16:26. | |
to recapitalise the banks, even more crucially we have to come up | :16:27. | :16:31. | |
with a credible plan to preserve the stability of the sovereign debt | :16:31. | :16:35. | |
of Italy and Spain. Thank you very much. | :16:35. | :16:38. | |
The main political conference season came to an end today with | :16:38. | :16:44. | |
David Cameron's speech to the one ten thousand nt of the electorate | :16:44. | :16:49. | |
who spent the last few days in Manchester. There was some old, | :16:49. | :16:57. | |
some new, some borrowed and everything washed in blue. A work | :16:57. | :17:01. | |
aday speech, for a work aday crowd. He said there was no money for | :17:02. | :17:06. | |
fireworks, so he asked people to imagine a fireworks display in the | :17:06. | :17:08. | |
future. At party conference top politicians | :17:08. | :17:12. | |
get photographed all day long, the leader's speech, his opportunity to | :17:12. | :17:17. | |
give us his picture. The Chancellor, of course, knew what he was going | :17:17. | :17:21. | |
to say, as party members queued to get in, they could read the preview | :17:21. | :17:25. | |
quotes handed out in time for this morning's newspapers. The whole | :17:25. | :17:29. | |
purpose of the speech is, not to say anything, at least not to say | :17:29. | :17:32. | |
anything startling or revalatory. We have been told to expect a | :17:32. | :17:35. | |
restatement of main of the themes that we have heard from the Prime | :17:35. | :17:39. | |
Minister many times before. The need to sort out the economy. If | :17:39. | :17:44. | |
there is a change, it is simply going to be a tonal nudge, to put a | :17:44. | :17:49. | |
bit more optimisim into the picture. So, you can imagine the | :17:49. | :17:52. | |
consternation in the Prime Minister's camp, when it turned out | :17:52. | :17:57. | |
he had, or his aides had, actually, said something. In briefings to | :17:57. | :18:04. | |
journalists, which resulted in this headline. "Pay off your credit | :18:04. | :18:09. | |
cards, for the sake of the economy". The quote says the only way to deal | :18:09. | :18:13. | |
with the debt crisis is to pay off your debts. That means households, | :18:13. | :18:18. | |
all of us, paying of the credit card and store card bills. This | :18:18. | :18:24. | |
message is both ecomomically and politically difficult. Ecomomically | :18:24. | :18:27. | |
because if everyone starts paying off their debts and spending money, | :18:27. | :18:30. | |
as the Prime Minister appears to be telling us, we can kiss goodbye to | :18:30. | :18:36. | |
a whole load of economic growth. It is what economists call the parodox | :18:36. | :18:40. | |
of thrift. Politically it is difficult, because team Cameron | :18:40. | :18:45. | |
know how bad it is to have a bunch of pretty well off people in | :18:45. | :18:48. | |
cabinet, appearing to lecture the rest of us about what we should do | :18:48. | :18:51. | |
with our money. Even as the seats were filling up, | :18:51. | :18:55. | |
we were told the line was supposed to have described what was already | :18:55. | :18:59. | |
going on. People were already paying back their debts, not, that | :18:59. | :19:03. | |
this was the Government in some way, telling them what to do. In any | :19:03. | :19:07. | |
case, we were told, the line was being we written. The Prime | :19:07. | :19:10. | |
Minister's background was a blue sky obscured with clouds, it fitted | :19:10. | :19:14. | |
with his core message on the economy. We need to tell the truth | :19:14. | :19:19. | |
about the overall economic situation. People understand that | :19:19. | :19:23. | |
when the economy goes into recession, times get tough. But | :19:23. | :19:28. | |
normally, after a while, things pick up. Strong growth returns, | :19:28. | :19:33. | |
people get back into work. This time it is not like that. People | :19:33. | :19:39. | |
want to know why the good times are so long in coming. The reason, he | :19:39. | :19:45. | |
said, was before we could recover, well we had to pay back debt. In | :19:45. | :19:49. | |
saection containing the rewrit - a section containing the rewritten | :19:49. | :19:55. | |
line about credit cards, Mr Cameron said borrowing more was not an | :19:55. | :20:00. | |
option? Why, because it make us it more risky and the threat of higher | :20:00. | :20:03. | |
taxes in future. The only way out of a debt crisis is to deal with | :20:03. | :20:07. | |
your debts. That is why households are paying down the credit card and | :20:07. | :20:13. | |
the store card bills. What had been a controversial line had become | :20:13. | :20:17. | |
unremarkable. And no-one was surprised by Mr Cameron's pledge on | :20:17. | :20:20. | |
the euro. As long as I'm Prime Minister, this country will never | :20:20. | :20:25. | |
join the euro. Labour were blamed for the debt and criticised for not | :20:25. | :20:28. | |
apologising. Public sector strikes were condemned, growth, Mr Cameron | :20:29. | :20:32. | |
said, would come from the private sector. It needed, he said, a | :20:33. | :20:36. | |
change to the planning laws. Mr Cameron said we needed a housing | :20:36. | :20:40. | |
revolution to provide enough homes and enough lending for people to | :20:40. | :20:45. | |
buy those homes. Some kinds of debt, it seems, are OK. Mr Cameron | :20:45. | :20:51. | |
pledged to end, what he called, the scandal of barriers placed in the | :20:51. | :20:55. | |
way of loving families adapting babies in care. And he said because | :20:55. | :20:58. | |
gay marriage would strengthen family life, his party should | :20:58. | :21:01. | |
support it. I don't support gay marriage in spite of being a | :21:01. | :21:03. | |
Conservative, I support gay marriage because I am a | :21:03. | :21:10. | |
Conservative. But mostly this speech was an | :21:10. | :21:18. | |
exhortation, to believe in what he called the can-do spirit of Britain. | :21:18. | :21:21. | |
No Britain ever had the largest land mass or richest resources, but | :21:21. | :21:25. | |
we had the spirit. It is not the size of the dog in the fight, it is | :21:25. | :21:29. | |
the size of the fight in the dog. Overcoming challenge, yes, | :21:29. | :21:32. | |
confounding the sceptics, reinventing ourselves. We have the | :21:32. | :21:35. | |
ideas and the people, and now we have a Government freeing those | :21:35. | :21:39. | |
people, backing those ideas, let's see an optimistic future. Let's | :21:39. | :21:43. | |
show the world some fight. Let us pull together, let us work together, | :21:43. | :21:46. | |
and let us together lead Britain to better days ahead. | :21:46. | :21:53. | |
APPLAUSE George what did you think of that | :21:53. | :21:58. | |
speech? I thought it was fan tais particular, it struck the right now | :21:58. | :22:01. | |
- fantastic, it struck the right note, all about leadership, | :22:01. | :22:04. | |
optimisim. He won this over. He also spoke to the country. That is | :22:04. | :22:08. | |
what we have been doing at this conference. The stuff about credit | :22:08. | :22:13. | |
cards, was that poor drafting? he spoke what we have all been | :22:13. | :22:17. | |
saying, this is a debt crisis, we need to deal with our debts, we | :22:17. | :22:21. | |
understand you can't borrow your way out of debt, that analysis is | :22:21. | :22:29. | |
shared by the British people. Mr Cameron's exit music was clearly | :22:29. | :22:39. | |
:22:39. | :22:40. | ||
inspired by yesterday's called cat flap (Love Cats by The Cure) | :22:40. | :22:43. | |
The Conservative conference ended for the year. | :22:43. | :22:47. | |
Stop talking, there is an audience out there. James Forsyth, the | :22:47. | :22:52. | |
political editor of The Speckor, and John McTernan, political | :22:52. | :22:56. | |
adviser to Tony Blair. They were chewing the fat of what went on in | :22:56. | :23:00. | |
the conference. You might as well continue for the benefit of | :23:00. | :23:02. | |
everybody. Three major conferences over what do we know about the | :23:02. | :23:08. | |
state of British politics then? know there is a complete absence of | :23:08. | :23:10. | |
genuine analysis about the depth of the crisis we face in Britain, | :23:10. | :23:14. | |
Europe and the world, and any actions that any of the leading | :23:14. | :23:17. | |
politicians can sketch out in any detail, that could give people | :23:17. | :23:21. | |
confidence that the political leadership have some project to | :23:21. | :23:24. | |
lead. I think we also know that the mass membership political party is | :23:24. | :23:27. | |
completely and utterly dead. It was striking today during David | :23:28. | :23:30. | |
Cameron's speech how many empty seats there were. Empty seats | :23:30. | :23:35. | |
during a leader's speech. The Prime Minister's speech. I mean, this is | :23:35. | :23:39. | |
a new going to fringe meetings, most people who get up to speak | :23:39. | :23:45. | |
come from lobby groups and NGOs. There is a real problem in politics. | :23:45. | :23:47. | |
There were moments when Cameron improved his delivery during the | :23:48. | :23:50. | |
speech, those were the moments intended to be clipped for | :23:50. | :23:55. | |
programmes like this or the news. There is something really sad | :23:55. | :23:59. | |
happening. Why is the BBC slavishly sending off dozens and dozens of | :23:59. | :24:03. | |
people, why do you go there, and you go there, these are empty | :24:03. | :24:08. | |
events? I think the time has come to say we don't need annual party | :24:08. | :24:12. | |
conferences any more. We're the only political culture in Europe | :24:12. | :24:15. | |
that has annual conferences. They have now run their course. There is | :24:15. | :24:19. | |
no purpose for the speeches, there is no purpose for the meetings. If | :24:19. | :24:27. | |
it wasn't for the lobbyists paying for the passes and sponsoring the | :24:27. | :24:30. | |
fringes. The party is addicted to the money from the lobbyists and | :24:30. | :24:33. | |
the fringe meetings. They never made policy in the Tory Party, or | :24:34. | :24:40. | |
the Labour Party for 20 years have they? I think the end of the mass | :24:40. | :24:42. | |
membership party also reflects John's point, that there is a lack | :24:43. | :24:46. | |
of reality to a lot of this talk. There is also, I think, a problem | :24:46. | :24:50. | |
of, the one speech at the Tory Party conference that soared a | :24:50. | :24:54. | |
little bit was George Osborne. It actually had some explanation to | :24:54. | :24:57. | |
people of what is going wrong with the economy, this is why this time | :24:57. | :25:01. | |
it is different, and this is why we are not growing. That is what we | :25:01. | :25:04. | |
need. That is the danger of politics at the moment, is it seems | :25:04. | :25:07. | |
incredibly detatched from people's lives. That is, when you look at | :25:07. | :25:12. | |
what is going on in Europe, this is going to...To Be fair to the | :25:12. | :25:14. | |
politicians, it is not entirely their fault they are detatched from | :25:14. | :25:17. | |
real life. A lot of the events, which are really going to determine | :25:17. | :25:23. | |
how people live in this country, aren't within their gift any way, | :25:23. | :25:26. | |
are they? I think one of the big criticisms of Cameron's speech | :25:26. | :25:30. | |
today, is there was no sense of what Britain wants the eurozone to | :25:30. | :25:34. | |
do, or the rest of the world to do. There was no sense of I'm going to | :25:34. | :25:38. | |
get on the world stage and load. It was almost very much here is what | :25:38. | :25:42. | |
we do while the rest of the world go to hell in a hand cart. We are | :25:42. | :25:45. | |
in a difficult position in terms of the eurozone. You heard the chaps | :25:45. | :25:50. | |
here a few moments ago, talking about this possible cat it is a | :25:50. | :25:53. | |
trophy about to overwhelm us, we don't have dog in that fight, do | :25:53. | :25:58. | |
we? It is not even having a dog in the fight. I think we should | :25:58. | :26:05. | |
probably ban all metaphors about dogs, cats and fighting. | :26:05. | :26:09. | |
You have Obama facing an election, Merkel facing election, Sarkozy | :26:09. | :26:12. | |
facing election. The three biggest players in the G20, involved in | :26:12. | :26:18. | |
this, are all in fear of their own electorates. So there is a bit of | :26:18. | :26:20. | |
paralysis in other people's politics that is feeding through | :26:20. | :26:27. | |
into this. In contrast, and I think Lord Myners was right, the contrast | :26:27. | :26:33. | |
with 2008, in a global vacuum, actually Gordon Brown did something, | :26:33. | :26:37. | |
he flew to the eurozone and told them what to do. He did take the | :26:37. | :26:41. | |
space and said the world should orchestrate pumping in money and | :26:41. | :26:44. | |
demand. The difficulty today is it is not clear to me that Gordon | :26:45. | :26:49. | |
Brown, or Alastair Darling would know what to say or their like, let | :26:49. | :26:52. | |
alone have the authority to say it to the eurozone. In the end | :26:52. | :26:57. | |
somebody has to take leadership. That is what was odd about | :26:58. | :27:00. | |
Cameron's speech. The leadership was the strap line, there was | :27:00. | :27:04. | |
nothing to lead, unless it was making sure that people can use | :27:04. | :27:07. | |
highlighters in classrooms without health and safety instructions and | :27:07. | :27:11. | |
goggles. When it came to the details they were pathetic. What | :27:11. | :27:16. | |
did you think about the cock-up over the question of credit cards, | :27:16. | :27:21. | |
what does that tell us about the state of the party. It is a very | :27:21. | :27:25. | |
small thing, but, if you are going to try to orchestrate the | :27:25. | :27:27. | |
newspapers to go with a particular line, you better get it right, | :27:27. | :27:31. | |
hadn't you? I think what it tells you is how politicians are | :27:31. | :27:34. | |
struggling to explain. The metaphor for the Conservative Party like to | :27:34. | :27:38. | |
use is the deficit is like the nation's credit card, you can't | :27:38. | :27:41. | |
keep running it up and borrowing more and more money, because you | :27:41. | :27:47. | |
have to pay higher interest and then you end up bankrupt. When they | :27:47. | :27:52. | |
tried to fly it in the speech in the extracts, then they said are | :27:52. | :27:57. | |
you telling everybody to pay for credit card, because that would | :27:57. | :28:01. | |
suck demand out of the economy. And also this thing of David Cameron | :28:01. | :28:05. | |
being a very wealthy man. I think it is simpler than that, they don't | :28:05. | :28:10. | |
have a proper operation in Number Ten. So many people must have read | :28:10. | :28:15. | |
that, before you brief a passage to the paper, the press team, the | :28:15. | :28:20. | |
political team, policy team, number 1, they all have to see it. In the | :28:20. | :28:25. | |
whole set of people that looked at it, they didn't see it causing a | :28:25. | :28:30. | |
bad headline. There are people works closely with the Prime | :28:30. | :28:35. | |
Minister that don't know how newspapers operate or language can | :28:35. | :28:38. | |
be mest misconstrued. There is a failure at the head of the | :28:38. | :28:41. | |
operation. If you brief it, it has to be in the speech. | :28:41. | :28:46. | |
A woman came back from the dead today. Actually Syria put a woman | :28:46. | :28:51. | |
on television, whom the regime claimed had been reported by | :28:51. | :28:55. | |
foreign media as having been beheaded. Thus, they boasted, do we | :28:55. | :29:01. | |
give the lie of the concerted campaign of subversion and | :29:01. | :29:06. | |
terrorism being raged against the boufd leader accidental dictator, | :29:06. | :29:09. | |
Bashar al-Assad. Western reporters who want to find out what is really | :29:09. | :29:13. | |
going on there aren't allowed in. The authorities made an exception | :29:13. | :29:17. | |
for our Lyse Doucet. Though quite how helpful this is to have the co- | :29:17. | :29:27. | |
:29:27. | :29:37. | ||
operation of the regime is another Douma, a suburb of Damascus. | :29:37. | :29:40. | |
An activist in Douma gave us this footage, showing clashes between | :29:40. | :29:49. | |
troops and protestors. They say it has been going on for months. | :29:49. | :29:54. | |
This is why we asked the Government for permission to visit Douma. It | :29:54. | :29:58. | |
was the first place in Damascus to see protests. | :29:58. | :30:03. | |
As we entered Douma, the mood changes. We start seeing soldiers. | :30:03. | :30:09. | |
Look more closely, they are concealed in this olive grove. A | :30:09. | :30:16. | |
car joins us, a group of men we are told know this neighbourhood, they | :30:16. | :30:24. | |
will show us around. We ask to go to places where people | :30:24. | :30:32. | |
gather. They take us to a filling station. We have been trying to | :30:32. | :30:36. | |
negotiate with our escorts, as they are called, what we can see in the | :30:36. | :30:39. | |
suburbs of Douma. It is clear they don't want us to see very much. It | :30:39. | :30:43. | |
is the time of day when not a lot of people are out in the streets, | :30:43. | :30:47. | |
but they still don't want us to go to the markets or places like this. | :30:47. | :30:51. | |
They don't really want us to film here. It feels like a ghost town. | :30:51. | :30:55. | |
We insist we have to meet people who live here. They insist we need | :30:55. | :31:03. | |
to move on. Our next stop, a roundabout. Pretty, | :31:03. | :31:06. | |
but deserted. We were hoping it was a gathering place so we can meet | :31:06. | :31:14. | |
some of the people of Douma, but, in fact, it is pretty quiet here. | :31:14. | :31:21. | |
We hear the call to prayer. Could we go to the main mosque? They say | :31:21. | :31:26. | |
there isn't one. What does he want? You haven't done anything wrong. | :31:26. | :31:30. | |
haven't finished Douma yet or talked to one person in Douma. We | :31:30. | :31:34. | |
haven't spoken to a single person. You want us to go, please, please. | :31:34. | :31:42. | |
OK, we are going. They tell us it is for our | :31:42. | :31:47. | |
protection. Terrorists could attack us. We were told we had to leave | :31:47. | :31:51. | |
immediatey, we weren't really told why. It is really frustrating. We | :31:51. | :31:55. | |
were told by the Government we had to show the truth of the situation. | :31:55. | :32:05. | |
But how can you do that when you can't even film. | :32:05. | :32:09. | |
This may be what they didn't want us to see. This footage was filmed | :32:09. | :32:14. | |
by activists. They say it is from the day we were there. A | :32:14. | :32:24. | |
:32:24. | :32:27. | ||
demonstration, and then arrests. We can't do anything here. | :32:27. | :32:31. | |
terribly sorry. We asked to go back. We are back in Douma again, after | :32:31. | :32:35. | |
our last visit we complained to the Government, they have given us | :32:35. | :32:43. | |
permission to return. We drive past the olive grove where | :32:43. | :32:48. | |
soldiers still wait. We return to the roundabout where we had been | :32:48. | :32:54. | |
told to leave. Last time we filmed trees and a flag. This time a palm | :32:54. | :32:59. | |
tree is part of the story. Those are blood stains do you think? | :32:59. | :33:03. | |
Syrian officials told us a bomb had been found here the day previous. | :33:03. | :33:08. | |
They wanted us to see the work of what they called armed gangs. | :33:08. | :33:13. | |
Around 1.15 pm yesterday, three officers were trying to dismantle a | :33:13. | :33:18. | |
bomb planted here, unfortunately the bomb was being detonated from | :33:18. | :33:23. | |
the remote. So the man who was trying to dismantle it, with his | :33:23. | :33:29. | |
hands, has been split into two pieces. His compan and the other | :33:29. | :33:35. | |
two were killed. - Companion and two others had killed. A man drives | :33:35. | :33:41. | |
up on a motorcycle and said he hadn't heard an explosion. A crowd | :33:41. | :33:45. | |
starts forming, there is confusion about what happened here. Why were | :33:45. | :33:53. | |
they killed if it didn't destroy the tree? Hard one to answer. | :33:53. | :33:58. | |
As the crowd grows there are more men in shell suits, shadowing us, | :33:58. | :34:07. | |
talking on mobiles, listening in. At times like this, Damascenes, who | :34:07. | :34:10. | |
don't have anything nice to say about the Government, don't say | :34:10. | :34:14. | |
anything at all. Unexpectedly one man starts speaking. He wants to be | :34:14. | :34:19. | |
heard and seen. He tells us his son was picked up by security forces | :34:19. | :34:24. | |
yesterday. What was your son doing? Was he protesting? He said they | :34:24. | :34:28. | |
were leaving the mosque, there was a demonstration outside. They | :34:29. | :34:33. | |
weren't at t but they started shooting towards them. They were | :34:33. | :34:36. | |
separated and he saw him being dragged away. His mother is crying | :34:36. | :34:44. | |
looking for him. We will arrest him. Why did you | :34:44. | :34:50. | |
decide to tell us your story? He said he was afraid now, but what | :34:50. | :34:59. | |
will happen will happen. No armoured gangs? Look how quickly | :34:59. | :35:03. | |
the crowd has gathered, they saw a foreign camera here and people | :35:03. | :35:08. | |
wanted to tell their story, in fact this man is very brave to tell us | :35:08. | :35:18. | |
:35:18. | :35:20. | ||
the story of his son who has been taken in. | :35:20. | :35:25. | |
We head down the street to Douma's main mosque, we are immediately | :35:25. | :35:34. | |
surrounded by young men. Suddenly it's a protest. | :35:34. | :35:39. | |
Their voices carry. Within minutes security is on the way. A bus has | :35:39. | :35:42. | |
just arrived with soldiers and yet they are still chanting, and they | :35:42. | :35:47. | |
are not leaving. This is our weapon, they say, the | :35:47. | :35:54. | |
camera is our weapon. Freedom, freedom. Freedom. | :35:54. | :35:59. | |
wanted to stay to see how this would unfold, but we were told we | :35:59. | :36:04. | |
must leave, there is a threat against us. | :36:04. | :36:11. | |
But we don't miss everything. Soldiers to the left. Oh my God, oh | :36:11. | :36:18. | |
my God. Oh my goodness. I can show you what | :36:18. | :36:24. | |
is happening to the right of me, I can't show you, there are two green | :36:24. | :36:28. | |
buses of soldiers pulling away from the square. They just flooded this | :36:28. | :36:33. | |
area moments after we were here, and people were criticising the | :36:33. | :36:40. | |
Government for arresting and shooting at people. As soldiers | :36:40. | :36:46. | |
move down the street, our second visit comes to an end. | :36:46. | :36:49. | |
We are leaving Douma now, but unlike all the other places we | :36:49. | :36:54. | |
visited during our time in Syria, we leave knowing what people think, | :36:54. | :36:58. | |
because they told us. This horrible feeling, we don't | :36:58. | :37:08. | |
:37:08. | :37:13. | ||
know what's going to happen to them We still don't know what happened | :37:13. | :37:18. | |
to the people we met. Today some activists sent us this footage from | :37:18. | :37:23. | |
Douma. We can't verify it, but it appears to show soldiers outside | :37:23. | :37:32. | |
someone's door. Well now, back here, whatever | :37:32. | :37:36. | |
solution is found to the current economic crisis, if indeed one can | :37:36. | :37:39. | |
be found, we are going to be living in difficult times for a long while | :37:39. | :37:45. | |
yet. Money, or lack of it, trust, or lack of it, hope or lack of it, | :37:45. | :37:49. | |
shape our cultural world as much as they shape our politics. Pop Art | :37:49. | :37:54. | |
and punk music, for example, are inacceptable from particular times. | :37:54. | :38:00. | |
So what can we expect this unhappy era to throw up. Do hard times make | :38:00. | :38:03. | |
good music or art? We thought it would be interesting to hear what | :38:03. | :38:07. | |
Brian Eno, one of the world's foremost music producers and | :38:07. | :38:17. | |
:38:17. | :38:24. | ||
writers thinks. Before we hear from It's Nick Clegg's one-time adviser | :38:24. | :38:31. | |
on youth issues. In his own salad days, as the keyboard noodler-in- | :38:31. | :38:36. | |
chief of art rockers, Roxy Music. His outfits were enough to catch | :38:36. | :38:46. | |
:38:46. | :38:47. | ||
your eye, or even have it out! Don't think the roof's leaking down | :38:47. | :38:53. | |
at Eno's lab, no it is the sound of ambient music. The composer has | :38:53. | :39:01. | |
been applying his cool all can he me to this often misunder- alchemy | :39:01. | :39:09. | |
to this often misunderstood genre. You think him of the music boffin, | :39:09. | :39:15. | |
the musical genius of music. His CV is pretty impressive, starting from | :39:15. | :39:21. | |
Roxy Music, his own wild and strange solo years, and then as a | :39:21. | :39:29. | |
producer for multi, multimillion selling albums by people like U2 | :39:29. | :39:34. | |
and Coldplay it's a maverick genius burrowing around on the fringes of | :39:34. | :39:37. | |
rock n' roll, producing some of the most interesting work of the last | :39:37. | :39:45. | |
30, 40 years. Do grim times produce great music. | :39:45. | :39:52. | |
Eno may be in a position to know. When he was producing David Bowi, | :39:52. | :39:58. | |
he's lepbldly Berlin albums in the 1960s, Britain had strikes. In 1980, | :39:58. | :40:02. | |
the year of Ronald Reagan becoming President, he was working with | :40:02. | :40:06. | |
seminal American outfit, Talking Heads. The theory that poverty | :40:06. | :40:10. | |
equals interesting culture, is not necessarily one I would like to | :40:10. | :40:13. | |
pursue, I would rather people weren't poor. But obviously when | :40:13. | :40:17. | |
you have a situation like this, it makes people angry, and it makes | :40:17. | :40:21. | |
people frustrated if they are not depressed. And that means they are | :40:21. | :40:25. | |
going to do something. Whether or not it takes the form of the riots | :40:25. | :40:28. | |
that we have seen, or whether or not it takes the form of people | :40:28. | :40:35. | |
making music, or whether or not it takes the form of other types of | :40:35. | :40:39. | |
protest, music is great form of communication. I would always hope | :40:39. | :40:42. | |
people would make music and will make music to accompany these hard | :40:42. | :40:47. | |
times. I'm sure they will. It will be very exciting. As to how Brian | :40:47. | :40:53. | |
Eno makes music with U2 and others, we sense it is not by turning all | :40:53. | :40:59. | |
the knobs up to 1 he has been known to issue musicians with cryptic | :40:59. | :41:03. | |
notes. Sometimes I write on bits of card, rhythm, melody, precussion, | :41:03. | :41:08. | |
something like that. He has these cards that he invented that he | :41:08. | :41:13. | |
would produce, and they would just have words on them, you know, like | :41:13. | :41:19. | |
"blue" or "brain", or "tomorrow" or "side salad", I don't know what. He | :41:19. | :41:26. | |
would produce the cards in the studio and the musicians have to | :41:26. | :41:29. | |
play side salad or blue. It is a way of pushing people out of their | :41:29. | :41:38. | |
box. Coldplay released an album, helmed | :41:38. | :41:43. | |
by Mr Eno at the time of the banking crisis. That is the last | :41:43. | :41:49. | |
banking crisis. Hmm, have we hit snag with the theory that troubled | :41:49. | :41:53. | |
times bring forth great music. Ha ha ha had a. | :41:53. | :41:58. | |
Well, you know, everybody has to pay the bills. And also, if you are | :41:58. | :42:03. | |
asked to do something, it is very pleasant. And if you're asked to do | :42:03. | :42:08. | |
something you often do it. I don't have a problem with Eno producing | :42:08. | :42:14. | |
Coldplay or U2. He does plenty of other stuff besides that is | :42:14. | :42:24. | |
:42:24. | :42:25. | ||
interesting. Eno remains endlessly inventive, his latest idea he calls | :42:25. | :42:28. | |
generative music n which a computer sequences programmed sounds. I like | :42:28. | :42:35. | |
it, but I'm not sure it is the Christmas number one. The chrome- | :42:35. | :42:43. | |
domed maverick genius, or whatever is here. With side salad! How is it | :42:44. | :42:46. | |
chrome-dome! This theory about difficult times making interesting | :42:46. | :42:51. | |
music, do you buy it? I think difficult times make for good | :42:51. | :42:56. | |
audiences. I think when times are difficult people are much more | :42:56. | :43:00. | |
interested in art. They are much more interested in seeing things, | :43:00. | :43:05. | |
in being challenged in new ways, in finding exciting new feelings. In | :43:05. | :43:08. | |
comfortable times people aren't very much. Do you think it is | :43:08. | :43:12. | |
happening now? Yes i do. I think there is much more live performance | :43:12. | :43:17. | |
than there has been ever in my life. And of course, there are all these | :43:17. | :43:25. | |
new arts that are appearing now. A lot of them internet based or ap- | :43:25. | :43:29. | |
based. Which are really very exciting, that is the beginning of | :43:29. | :43:32. | |
the future. I think the conventional art forms are losing | :43:32. | :43:37. | |
their funding, in some respects, but creativity is a little bit like | :43:37. | :43:42. | |
water, it seeps out wherever there is an outlet. You are talking about | :43:42. | :43:46. | |
music being the expression of creativity, or is it border than | :43:46. | :43:51. | |
music? Broader - broader than music? Broader. You have to look at | :43:52. | :43:56. | |
all the new art forms, you have to look at 1911 and looking at the | :43:56. | :44:00. | |
first films made. It is very difficult to imagine when you see a | :44:00. | :44:07. | |
flickering train going into a station, that, that will turn into | :44:07. | :44:17. | |
:44:17. | :44:17. | ||
Sit Zen Kane or something like that or Martin Scorsce. What other sort | :44:17. | :44:23. | |
of things? There are lots of things called aps and a lot of people | :44:23. | :44:27. | |
carry a computer in their pocket, means an artist has a new place to | :44:27. | :44:31. | |
work. A lot of people are taking advantage of it, including me. | :44:31. | :44:35. | |
you taking advantage at a visual level, a musical level, or what? | :44:35. | :44:39. | |
Both of those things. Some how it is all scrambled up together? | :44:39. | :44:43. | |
That is one of the things going on, the distinctions between the arts | :44:43. | :44:47. | |
are starting to break down. Everything is much more power rus, | :44:47. | :44:52. | |
it is possible to - porous, it is possible to work in a new landscape | :44:52. | :45:01. | |
that is visual, musical and textual. And everything is available? | :45:01. | :45:05. | |
Including the complete history of recorded art. One thing I notice | :45:05. | :45:11. | |
with young musicians is their palate is enormously broad. They | :45:11. | :45:18. | |
are able to bring in Dave Brubeck and Talking Heads and collageing | :45:18. | :45:23. | |
them together. One of the problems an artist faces is to decide what | :45:23. | :45:28. | |
form shall I work in, what am I doing. I didn't have that problem. | :45:28. | :45:31. | |
I inherited the idea of being a particular type of musician and I | :45:32. | :45:36. | |
expanded it a bit. I never was looking at 50 years past of music | :45:36. | :45:44. | |
as my palate. They are all equally available and considered equally | :45:44. | :45:50. | |
worthwhile, whether Dave Brubeck or Beethoven, or whatever? Do you know | :45:50. | :45:54. | |
this term "open source" t refers to way of constructing and creating | :45:54. | :45:59. | |
things, by sharing them. In a way, the whole cultural world has sort | :45:59. | :46:03. | |
of gone open source. So that everybody is making things, making | :46:03. | :46:08. | |
them available to be shared. As soon as they are digital, they are | :46:08. | :46:12. | |
very shareable, it is very easy to bind together things that are | :46:12. | :46:18. | |
already digital. This idea of open source, which sort of loses the | :46:18. | :46:25. | |
idea of the artist as the primary controlling individual, and the | :46:25. | :46:30. | |
artist becomes more like a member of a commune. So artists are | :46:30. | :46:34. | |
working more and more in communities, and I think people are | :46:34. | :46:37. | |
as well. Is there a particular type of sound that emerges from that | :46:37. | :46:41. | |
sint sis at the end, in a way that you can associate punk, for example, | :46:41. | :46:46. | |
with a particular time in our history? Well, I think, though I | :46:46. | :46:53. | |
don't like to blow my own trumpet, that this idea of generative music, | :46:53. | :46:58. | |
that I talk about, is something that will prove to be a feature of | :46:58. | :47:02. | |
the future. The idea of the composer being more like a gardener | :47:02. | :47:07. | |
than an architect. The vision of the composer traditionally is | :47:07. | :47:10. | |
somebody who has the whole piece in their head and writes it down. | :47:10. | :47:15. | |
Where as, I think, more and more what people are doing now, is | :47:15. | :47:20. | |
assembling sets of musical seeds, and planting them, and watching | :47:20. | :47:23. | |
them develop, watching them evolve. Both electronically and through | :47:23. | :47:31. | |
sharing with other composers and musicians. So, I think we're in a, | :47:31. | :47:35. | |
Cameron talks about the Big Society, it is actually here, we are already | :47:35. | :47:42. | |
doing t we won't recognise it for a long time, but there is an expon | :47:42. | :47:50. | |
earnings expansion of the thaing - exponential expansion from the book | :47:50. | :47:54. | |
The Rational Optimisim, the growth of the collective mind, the idea of | :47:54. | :47:58. | |
people becoming more and more intelligent by sharing in a larger | :47:58. | :48:02. | |
and larger collective mind. Do you know our brains are getting smaller. | :48:02. | :48:06. | |
That is an alarming thought on which to end. That's it for tonight. | :48:06. | :48:16. | |
:48:16. | :48:22. | ||
Quite a blustery spell of weather, rain clearing away from the south- | :48:22. | :48:26. | |
east over the next hour or two. All eyes to the North West, we will | :48:26. | :48:30. | |
start the day with blustery showers. Despite a bright start further | :48:30. | :48:33. | |
south and east, the showers will rattle in on the breeze. Most of us | :48:33. | :48:38. | |
can expect a shower or two on the day. It will be cooler than it has | :48:38. | :48:44. | |
get higher than the mid-teens in most places. Not everyone will get | :48:44. | :48:48. | |
showers, most will. When they come along, they could well be quite | :48:48. | :48:53. | |
heavy. The further north and west you go across the UK, the more | :48:53. | :48:56. | |
widespread and heavier there could well be hail and thunder mixed in | :48:56. | :49:01. | |
as well. Those winds will gust up to 50-60 miles an hour for a time, | :49:01. | :49:04. | |
across parts of Northern Ireland, and up across western Scotland as | :49:04. | :49:09. | |
well. Over high ground of Scotland, we could well see some snow, up | :49:09. | :49:15. | |
over the mountain tops, primarily. A chilly feel, a blustery wind, | :49:15. | :49:18. | |
plenty of showers around. The good news is on Friday most of the | :49:18. | :49:22. | |
showers have dyed away, it will be a bright and - died away, and it | :49:22. | :49:27. | |
will be a bright and crisp end to the week. Make the most of it, it | :49:27. | :49:31. | |
won't last that long, a ridge of high pressure will come in, the | :49:31. | :49:34. |