Browse content similar to 21/11/2011. Check below for episodes and series from the same categories and more!
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At the whiff of tear ga, the politicians supposedly ruling Egypt | :00:08. | :00:12. | |
decided to quit their post, after three days of protests in Cairo, | :00:12. | :00:16. | |
the cabinet there resigned en masse tonight. The army, now has full | :00:16. | :00:22. | |
charge of the state. Our reporter has been in Cairo throughout the | :00:22. | :00:24. | |
protests. The last teargas attack on this street was just a few | :00:25. | :00:29. | |
minutes ago, and everyone is expecting more. The fate of the | :00:29. | :00:33. | |
revolution these people now feel hangs in the balance. Popular | :00:33. | :00:38. | |
dissent drove Mubarak from power, can it do the same with the current | :00:38. | :00:42. | |
military regime. Once building house was a boast of Government. | :00:42. | :00:50. | |
Built in 12 weeks for less than �1,000 each. These houses seem one | :00:50. | :00:53. | |
answer to the housing problem. taxpayer backing for mortgages | :00:53. | :00:57. | |
bring a new housing boom. We will ask the Housing Minister if he's | :00:57. | :01:02. | |
the palest shadow of Harold Macmillan, and ask the boss of the | :01:02. | :01:09. | |
CBI if it will help. Cometh the hour, cometh the mystery | :01:09. | :01:13. | |
writer, we talk to Umberto Eco about history and Europe. Does he | :01:13. | :01:21. | |
fancy a new role in the new Italian technocy. If I was invited by Mr | :01:21. | :01:31. | |
:01:31. | :01:36. | ||
Monti, probably, yes. A few hours ago the cabinet in | :01:36. | :01:40. | |
Egypt said they were resigning, their bosses in the army have | :01:40. | :01:45. | |
tkwrot say if they will accept that resignation. The Arab Spring has | :01:45. | :01:49. | |
lurched from apparent freedom to bloody crackdown. Mortuary | :01:49. | :01:55. | |
officials talk of 33 people killed since Saturday and 1800 wounded. | :01:55. | :01:59. | |
Our reporter has spent the last several days in Tahrir Square in | :01:59. | :02:05. | |
Cairo. What is going on? As you say, Tahrir Square now full of tense of | :02:05. | :02:09. | |
thousands of people. More have been -- tens of thousands of people. | :02:09. | :02:11. | |
More have been arriving this evening. We have heard the | :02:12. | :02:15. | |
announcement that the Government has tendered its resignation. We | :02:15. | :02:19. | |
don't know if Egypt's rule of the Supreme Council of the armed fores | :02:19. | :02:24. | |
are accepting that or not. The real dilemma now for the Armed Forces is | :02:24. | :02:28. | |
what alternative cabinet will they possibly find. The anger on the | :02:28. | :02:32. | |
streets is so intense that I think few other people, technocrats, | :02:32. | :02:35. | |
politicians or civilians will be prepared to take on that job, | :02:35. | :02:38. | |
unless they are given considerably more power. Because the current | :02:38. | :02:42. | |
cabinet, the resigning cabinet really has been a puppet of the | :02:42. | :02:47. | |
Armed Forces, that is why it has been so discredited. So, on the one | :02:47. | :02:51. | |
hand, the army doesn't want to give civilians more power, it is afraid | :02:51. | :02:55. | |
that will damage its interests. On the other hand, it desperately | :02:55. | :03:00. | |
needs civilians as a figleaf, otherwise anything bad that happens | :03:00. | :03:06. | |
is blamed on the army itself. there a Government tonight? Well, | :03:06. | :03:12. | |
we just don't know. And the army has itself in this terrible dilemma, | :03:12. | :03:16. | |
because it isth has allowed or ordered the violence, and it is -- | :03:16. | :03:21. | |
because it has allowed or ordered the violence. It is the latest in | :03:21. | :03:27. | |
the whole ineptitude that the supreme commander of the Armed | :03:27. | :03:32. | |
Forces has shown since the beginning of things, that Egypt has | :03:33. | :03:37. | |
lurched from crisis to crisis. At the beginning of the month, most of | :03:37. | :03:41. | |
the political forces were principally concentrating on | :03:41. | :03:47. | |
campaigning for the parliamentary elections, which are still due next | :03:47. | :03:51. | |
week. Then suddenly the whole political agenda has been thrown | :03:51. | :03:57. | |
off kilter by the announcement, that didn't come now, by the army | :03:57. | :04:02. | |
that it was seeking super- constitutional privilege that is | :04:02. | :04:07. | |
would put it above the oversight of civilians. That has put us to the | :04:07. | :04:11. | |
position where Tahrir Square is full of angry people, angry at all | :04:11. | :04:17. | |
the latest bloodshed. How have we got to this point? Well, it really | :04:17. | :04:24. | |
is just a whole series, I think, of mistakes of this kind, some | :04:24. | :04:33. | |
political forces were very keen to see the elections going ahead, | :04:33. | :04:36. | |
particularly the Muslim brotherhood, because they think they are going | :04:36. | :04:41. | |
to win. But the whole question has been sub sumeed by how long this | :04:42. | :04:51. | |
:04:52. | :04:57. | ||
transition will last. Presidential elections might not come until 2013, | :04:57. | :05:00. | |
and people aren't satisfied, as the death rate increases, people's | :05:00. | :05:04. | |
demands are going up, people are now worried simply that the army | :05:04. | :05:14. | |
:05:14. | :05:16. | ||
intends never to leave the stage. We have been here before, for the | :05:16. | :05:21. | |
last three days teargas has billowed over Tahrir Square, rocks | :05:21. | :05:25. | |
and petrol bombs from protestors. It is the same fury, in the same | :05:25. | :05:31. | |
place, as during Egypt's revolution ten months ago. The revolution that | :05:31. | :05:34. | |
overthrew a dictator, and was supposed to hand power to the | :05:34. | :05:37. | |
people. Ten months on, the people don't control Egypt. Now they even | :05:38. | :05:44. | |
had to battle again to control this one sqare. | :05:44. | :05:50. | |
The last teargas attack on this sthreet was a few minutes ago, -- | :05:50. | :05:54. | |
this street, was a few minutes ago, and more is expected. The fate of | :05:54. | :05:57. | |
the people hangs in the balance. If they were worried about the | :05:57. | :06:00. | |
attentions of the authorities, they are even more worried now. The | :06:00. | :06:04. | |
violence shown by the security forces proves these people believe | :06:04. | :06:08. | |
the determination of Egypt's military rulers to hang on to power. | :06:08. | :06:18. | |
:06:18. | :06:18. | ||
Exactly what the protestors came back into the sqare to contest. | :06:18. | :06:22. | |
TRANSLATION: The Interior Ministry is striking at the people. Are we | :06:22. | :06:26. | |
not the people of Egypt, are they different to us. Are we not one | :06:26. | :06:34. | |
people. We don't understand what is happening. TRANSLATION: We want to | :06:34. | :06:36. | |
thank the military council for protected the revolution, now it | :06:36. | :06:42. | |
needs to hand over to a civilian transitional council, to protect | :06:42. | :06:46. | |
the Egyptian people. But tending the wounded has had to take | :06:46. | :06:50. | |
precedence over politics this weekend. It has been chaos in the | :06:50. | :06:54. | |
makeshift hospital behind the sqare. It is an appalling atmosphere in | :06:54. | :06:57. | |
which to be planning, in just one week's time, the first round of | :06:57. | :07:06. | |
what are meant to be Egypt's freeist elections in years. The | :07:06. | :07:10. | |
elections with a bewildering array of candidates that should start the | :07:10. | :07:17. | |
transition to democratic country. On Friday, Tahrir Square filled to | :07:17. | :07:21. | |
its very edges with demonstrators angry at constitutional amendments | :07:21. | :07:25. | |
proposed by the army, that could allow it to override the decisions | :07:25. | :07:30. | |
of an elected civilian Government. Marshall Tantawi, the head of the | :07:30. | :07:36. | |
army, who has effectively ruled Egypt since Hosni Mubarak was Joan | :07:36. | :07:44. | |
thrown is the man they want out, now -- overthrown, is the man they | :07:44. | :07:49. | |
want out now. TRANSLATION: The army don't want to hand over their power | :07:49. | :07:55. | |
now, it is going on and on. wasn't meant to be like this, ten | :07:55. | :08:00. | |
months on, still shouting against a system they thought they had | :08:00. | :08:03. | |
overthrown. Tahrir Square became an icon of unity and hope, all around | :08:03. | :08:10. | |
the world. But its power has proved to be elusive. Predominating at the | :08:10. | :08:16. | |
rally, men with baerdz. Islamists aren't the only force -- beards, | :08:16. | :08:19. | |
Islamists aren't the only force that want the army gone, but they | :08:19. | :08:23. | |
have the most to lose if democracy is restricted, they know they will | :08:23. | :08:29. | |
do best in the elections. In this poor district of southern Cairo, | :08:29. | :08:33. | |
the Muslim Brothers have been campaigning hard. Although they are | :08:33. | :08:40. | |
well known for their social work, they have a massive lead on those | :08:40. | :08:46. | |
who tweeted and blogged the revolution into action. These are | :08:46. | :08:51. | |
the candidates of the new revolutionary parties can't dream | :08:51. | :08:57. | |
of this, the kind of relationships that come not from the revolution, | :08:57. | :09:00. | |
but years of working in local communities. It appeared earlier | :09:00. | :09:06. | |
this year that the Brotherhood and the army might form a tactical | :09:06. | :09:10. | |
alliance against the liberals. No more, Islamists and liberals are | :09:10. | :09:17. | |
united in wanting the old regime dismantled, root and branch, that | :09:17. | :09:21. | |
means excluding civilian servants of the dictatorship, former members | :09:21. | :09:26. | |
of the President's deposed party. We speak about the people who | :09:26. | :09:33. | |
corrupted the political life of Egypt for 30 years. Some call them | :09:33. | :09:41. | |
the tailors of laws. They tailor the law to fit with the | :09:41. | :09:50. | |
requirements of the regime. Those people are well known. Those people | :09:50. | :09:55. | |
should be displaced away from our way to democracy. They should be | :09:55. | :10:00. | |
removed. They should be removed. And here they are. Those remnants | :10:00. | :10:04. | |
of the old regime. Portrayed as weeping skulls. They are trying to | :10:04. | :10:08. | |
avoid being caught, in this internet game, devised by another | :10:08. | :10:14. | |
candidate in the election, the independent liberal, Ahmed Naguib. | :10:14. | :10:19. | |
We are reaching out to young people, we know how to get them intrigued | :10:19. | :10:23. | |
and deliver a concept through our very simple game. We really need to | :10:23. | :10:28. | |
be on our guard and our watch for those Mubarak cronies and thugs all | :10:29. | :10:34. | |
the time. Those are the ones who want to bring the nation down. For | :10:34. | :10:41. | |
this dream not to be delivered. This evening, thousands more have | :10:41. | :10:45. | |
congregated on Tahrir Square. After the army appeared to make a | :10:45. | :10:50. | |
concession on those remnants of the dictatorship. It issued a decree to | :10:50. | :10:55. | |
bar those who worked to corrupt political life from further | :10:55. | :10:58. | |
political activity. But that wasn't the ban on former ruler party | :10:58. | :11:03. | |
members standing in the elections that most protestors here want. The | :11:03. | :11:07. | |
revolutionary, Ahmed Naguib, taking a break from the sit-in, Downing | :11:07. | :11:11. | |
Street, after the latest violence, that the army is committed to | :11:11. | :11:14. | |
democracy of any kind. This is happening because the military | :11:14. | :11:18. | |
wants to hang on to power. If there is a democratically elected | :11:18. | :11:20. | |
parliament it will represent the people, while the military council | :11:20. | :11:26. | |
is not elected by anyone, and has absolutely no legitimacy, when | :11:26. | :11:30. | |
there is a democratically elected Government. The army has told the | :11:30. | :11:34. | |
nation the parliamentary elections will take place as planned. But at | :11:34. | :11:38. | |
least 22 have died in violence since Saturday. Some way more. And | :11:38. | :11:42. | |
as in January and February, people's demands are rising with | :11:42. | :11:47. | |
the death toll. Many now say the military should relinquish power | :11:47. | :11:51. | |
immediately. On Tahrir Square, they have learned this year, that any | :11:51. | :11:55. | |
concession must be wrested from an obs nant state by massive popular | :11:55. | :12:05. | |
:12:05. | :12:06. | ||
pressure. That is why so many are staying on the sqare tonight. We | :12:06. | :12:12. | |
are ajoined from Cairo by the humam rights activist, who has come from | :12:12. | :12:22. | |
:12:22. | :12:24. | ||
Tahrir Square. What is happening in the sqare this evening. What's | :12:24. | :12:28. | |
happening this evening? Husbands of thousands are on Tahrir Square now. | :12:28. | :12:33. | |
It is only natural that after three days -- hundreds of thousands are | :12:33. | :12:37. | |
on Tahrir Square now. It is only natural after three days of killing | :12:37. | :12:40. | |
and maiming young Egyptians that Egyptians take to the streets again. | :12:40. | :12:47. | |
What do you want to happen next? Frankly speaking, I can't think | :12:47. | :12:56. | |
ahead, because over the past three days I have spent most of my time | :12:56. | :13:00. | |
in morgues, hospitals and ambulances. I have seen so many | :13:00. | :13:06. | |
casualties, so many violations. I am there to monitor the situation, | :13:06. | :13:12. | |
but I'm also involved in all the bloodshed. I was at the field | :13:12. | :13:17. | |
hospital, a makeshift hospital on the sqare last night at around | :13:17. | :13:22. | |
5.00pm, actually, when the army stormed the sqare, and stormed the | :13:22. | :13:28. | |
hospital. Army troops came into the hospital harassed the female | :13:28. | :13:34. | |
doctors, sexually harassed the female doctors, and then started | :13:34. | :13:39. | |
very violent confrontations with the doctors there, trying to take | :13:39. | :13:42. | |
out the injured. The doctors stood up and told them you can't take the | :13:42. | :13:46. | |
injured. There is no way we're going to allow you to do that. As | :13:47. | :13:53. | |
they storm out they throw in teargas cannisters. This started as | :13:53. | :13:58. | |
a confrontation between the police and the people, and the army comes | :13:58. | :14:03. | |
to the rescue of the police, that is in serious need of much reform. | :14:03. | :14:06. | |
Since January we have been saying that for the past nine months. The | :14:06. | :14:10. | |
police force has to be reformed. But the army intervenes to support | :14:10. | :14:15. | |
the police, that has been killing people, and they kill more people. | :14:15. | :14:20. | |
In my direct circle, amongst my friends, three young men lost their | :14:20. | :14:25. | |
eyesight. A dentist, an IT specialist, and a journalist. They | :14:25. | :14:30. | |
were shot in the face. Rubber bullets are not for shooting young | :14:30. | :14:36. | |
people in their faces. These are outrageous crimes. This is what I'm | :14:36. | :14:40. | |
concerned about. What happens next? I honestly hope...I Will come to | :14:40. | :14:48. | |
you in skaebgd on that question -- a second on that question. As the | :14:48. | :14:53. | |
world watches this, we can't get involved can we? We have to be very | :14:53. | :14:56. | |
careful. There is a role for signalling to the military very | :14:56. | :15:01. | |
clearly that the UK, the US, others, are absolutely dead set on seeing | :15:02. | :15:11. | |
:15:12. | :15:12. | ||
the full transition to democracy. But we have to leave it to those in | :15:12. | :15:15. | |
Tahrir Square to take the lead on it. There is such a sense of | :15:15. | :15:19. | |
conspiracy and nationalism, very understandably in recent months in | :15:19. | :15:21. | |
Egypt, I don't think anyone wants outsiders telling Egyptian what is | :15:21. | :15:25. | |
to do at this point. Do you think elections can take place under | :15:26. | :15:31. | |
these circumstances? I doubt they will take place. I mean the | :15:32. | :15:36. | |
violence that has erupted over the past three days would prevent | :15:36. | :15:42. | |
elections from happening. The activists on the sqare, the young | :15:42. | :15:49. | |
revolutionaries on the sqare, the people who started the whole | :15:49. | :15:58. | |
process back in January aren't interested in elections right now. | :15:58. | :16:04. | |
A police force in need of reform, a stepping down of Armed Forces and | :16:04. | :16:07. | |
handing over the Government to a civilian Government. This is what | :16:07. | :16:13. | |
the people want. This is not about elections. I mean, how could we | :16:13. | :16:20. | |
possibly have elections during such violence. There is violence in at | :16:20. | :16:23. | |
least five different Governments of Egypt. If the elections were to be | :16:23. | :16:27. | |
postponed, they have already been extended in a most extraordinary | :16:27. | :16:31. | |
fashion, but if the elections don't take place, where does that leave | :16:31. | :16:36. | |
everybody? I think you have got to get back to a legitimate situation | :16:36. | :16:40. | |
where people accept that elections, or whatever the vehicle for | :16:40. | :16:43. | |
carrying the thing forward is legitimate and representative. We | :16:43. | :16:49. | |
have seen it happen in Tunisia, it is possible to do this, it has | :16:49. | :16:53. | |
having well carried out elections, producing a majority Government | :16:53. | :16:56. | |
with popular support. It really is the fact that power continued to | :16:56. | :17:01. | |
rest in the hands of a military who are commercially very self- | :17:01. | :17:05. | |
interested in Egypt, have had a long-time status that they were | :17:05. | :17:11. | |
reluctant to give up. That all has to be challenged. Sadly, things | :17:11. | :17:15. | |
ended in Tahrir Square, the first time round, before that had | :17:15. | :17:18. | |
happened. Do you think you were niave in believing that the | :17:18. | :17:26. | |
military would give up power? were niave when we cheered the | :17:26. | :17:34. | |
military when they came to Tahrir Square back in January and February. | :17:34. | :17:39. | |
Now it is not about beg niave. It is about the people and what they - | :17:39. | :17:43. | |
- about being niave, it is about the people and what they want and | :17:43. | :17:46. | |
what they have accepted, after recent events. This is not the | :17:46. | :17:53. | |
first such attack from the military on civilians. Last month they were | :17:53. | :17:57. | |
responsible for massacre. Yesterday, for the second time, they are | :17:57. | :18:05. | |
killing civilians. Most political forces in Egypt will not accept a | :18:05. | :18:11. | |
continuation of military rule. There has to be a handover. | :18:11. | :18:15. | |
Sooner or collateral. The longer it drags on the more violent it will | :18:15. | :18:21. | |
become, that is my personal opinion. It is quite possible that the | :18:21. | :18:25. | |
victors at the end of this will be the Muslim Brotherhood, the | :18:25. | :18:31. | |
Islamists in general. Is that an outcome that? We have seen in | :18:31. | :18:37. | |
Tunisia, the Muslim Brotherhood do very well. But a Muslim Brotherhood | :18:37. | :18:43. | |
committed to democracy, committed to a genuine pluralistic Tunisia | :18:43. | :18:47. | |
going forward. I think the longer it goes, the more radical the | :18:47. | :18:52. | |
outcome. There is no doubt about that. I think it is critically | :18:52. | :18:57. | |
important that everybody outside Egypt, who wishes Egypt well, is | :18:57. | :19:01. | |
very clear that the democratic will of the country must be respected. | :19:01. | :19:08. | |
That's the outcome we must arrive at. Thank you both very much indeed. | :19:08. | :19:13. | |
Need the money to buy a house? Come to the bank of Dave and Nick, | :19:13. | :19:23. | |
:19:23. | :19:25. | ||
otherwise known as the ticks pair. Under plans announced -- known as | :19:25. | :19:29. | |
the taxpayer. Under plans announced today spending on house building | :19:29. | :19:31. | |
will stimulate the economy generally. A week tomorrow the | :19:31. | :19:37. | |
Chancellor will tell us how bad things really are in that seasonal | :19:37. | :19:45. | |
lament, the autumn statement! It used to be that the bricks | :19:45. | :19:48. | |
virtually flew up, houses sold before the roof was on, happenyo | :19:48. | :19:54. | |
days for the builders and happy -- happy days for the builders and the | :19:54. | :19:58. | |
first time buyers able to live the dream on nothing down. Oh how times | :19:58. | :20:02. | |
have changed. It is back to 20s for the level of peacetime house | :20:02. | :20:07. | |
building, back to the 1970s for the first time buyers. And one of the | :20:07. | :20:11. | |
few areas experiencing a housing boom is the local authority waiting | :20:11. | :20:14. | |
list. You can always spot a politician on a building site, they | :20:14. | :20:20. | |
are the ones who want to do without the high-vis jacket and the hard | :20:20. | :20:23. | |
hat. The policy they want to be high-visibility, and insist it | :20:23. | :20:28. | |
couldn't be more hard headed. The only visible policy difference on | :20:28. | :20:33. | |
view today between the coalition partners was whether to tuck or not | :20:33. | :20:38. | |
to tuck. There are so many people in overcrowded homes and on housing | :20:38. | :20:44. | |
waiting lists, we want to get Britain building. Why housing | :20:44. | :20:47. | |
building has been so low is because of the credit crunch, the banks | :20:47. | :20:52. | |
don't want to lend and the builders can't build and the housing market | :20:52. | :20:55. | |
is stuck, and we are determined to unstick the market to get the | :20:55. | :20:58. | |
market moving. What we are doing today is a whole set of things to | :20:58. | :21:02. | |
kick start the housing market. we got today was a lot of neatly | :21:02. | :21:07. | |
named funds, for a start there is �400 million for the Get Britain | :21:07. | :21:11. | |
Building, that is designed to get finance to builders to finish off | :21:11. | :21:15. | |
stalled projects. There is �30 million for the custom homes | :21:15. | :21:19. | |
problem, that is to help self- builders get finance. There is �500 | :21:19. | :21:23. | |
million for the Growing Places Fund, to improve infrastructure like | :21:23. | :21:28. | |
roads to unlock the development of particular areas. Then there is the | :21:28. | :21:32. | |
accelerator release of public sector land, �100 million to bring | :21:32. | :21:36. | |
back empty prorpbts into use. And most controversially, a mortgage | :21:36. | :21:39. | |
indemnity scheme. What this means is the Government will underwrite | :21:39. | :21:43. | |
first time buyer mortgages for new build properties. Meaning the | :21:43. | :21:48. | |
buyers won't need to come up with anything like as big a deposit. As | :21:48. | :21:51. | |
you can imagine the house builders rather like the plan. Not least | :21:51. | :21:55. | |
since it was their idea. If the lenders won't lend. Meaning the | :21:55. | :21:58. | |
buyers can't afford to pay the prices, there is a solution in | :21:58. | :22:01. | |
market. It may not be one you or your members particularly relish, | :22:01. | :22:06. | |
it is that the price of those properties has to come down? | :22:06. | :22:11. | |
don't think that will solve the problem, it is the deposit gap. | :22:11. | :22:17. | |
Let's take extreme example, let's sae say the average house price is | :22:17. | :22:23. | |
�200,000 and there is a 25% deposit, the vast majority of people can't | :22:23. | :22:29. | |
afford �50,000, they can't afford �25,000 even if the price halves. | :22:29. | :22:33. | |
All the element of the initiative provides support for house builders | :22:33. | :22:37. | |
rar than buyers. The market at the moment looks -- rather than buyers. | :22:37. | :22:40. | |
The market looks like it will faurblgs you have zero interest | :22:41. | :22:45. | |
rates, at some point they will go up, the earnings to house price | :22:45. | :22:49. | |
ratio is out of whack. This is not a good time for a first time buyer | :22:49. | :22:54. | |
to step into the market. That time will come. The best thing a first | :22:54. | :22:57. | |
time buyer can do at the moment is not to be a first time buyer but to | :22:57. | :23:02. | |
be a renter and wait. If you were mildly cynical you might say it has | :23:02. | :23:06. | |
nothing to do with the first time buyer and everything to do with the | :23:06. | :23:10. | |
cashflow problems for builders. Government involvement in the | :23:10. | :23:16. | |
housing market doesn't have the best record, the US Government | :23:16. | :23:19. | |
sponsored funds Frannie Mae and Freddie Mac went bust, US tax- | :23:19. | :23:22. | |
payers still don't know how big the bill there will be. In this country, | :23:22. | :23:27. | |
even the governor of the Bank of England, has previously warned | :23:27. | :23:30. | |
against Government underwriting mortgage loans. Why should the tags | :23:30. | :23:34. | |
pair take on the risk of borrowing from individual borrowers, some of | :23:34. | :23:40. | |
who are risky, it is the lenders who should take the risk, and | :23:40. | :23:45. | |
assess the risk on lending. We saw in 2007 not enough attention was | :23:45. | :23:49. | |
paid to monitor the risk of the lending. We don't want to tell | :23:49. | :23:53. | |
lenders that it doesn't matter if they monitor the riskiness, the | :23:53. | :23:57. | |
Government will guarantee it. problem we have now has to be | :23:57. | :24:00. | |
addressed. There are deep-seated difficulty, of that there is no | :24:00. | :24:04. | |
doubt. But the Government's mismanagement of the economy, and | :24:04. | :24:09. | |
housing policies, have made the situation far, far worse. The | :24:09. | :24:14. | |
Government inherited from Labour, a growing economy, and on housing, | :24:14. | :24:18. | |
there were two million homes built under Labour, half a million of | :24:18. | :24:25. | |
them were affordable. Having dewe willied, the PM and his | :24:25. | :24:31. | |
deputy med -- met some happy buyers. It is hoped these measures would | :24:31. | :24:35. | |
get the housing market moving and stimulate much-needed growth. There | :24:35. | :24:38. | |
is so much uncertainty around what sort of housing market or what sort | :24:38. | :24:42. | |
of economy we will have when the next generation is looking to put | :24:42. | :24:52. | |
:24:52. | :24:52. | ||
down roots. That is anybody's guess. Do you recognise this, high levels | :24:53. | :24:55. | |
of public and private debt are proving a drag on growth, | :24:55. | :24:59. | |
undermining the case for adding to the national burden of debt with | :24:59. | :25:03. | |
even more borrowing. You know who that was, of course, that was the | :25:03. | :25:06. | |
Prime Minister today, your leader. Why do you propose to increase the | :25:07. | :25:10. | |
burden of debt? No-one is saying people shouldn't take on mortgages | :25:10. | :25:16. | |
to get a home. You and I presumably have one. It is thought we have far | :25:16. | :25:20. | |
too much private debt as well as public debt? You and I presumably | :25:20. | :25:24. | |
have had mortgages, I still have one. We have the ability to get on | :25:24. | :25:28. | |
to the housing ladder, this current generation is completely locked out | :25:28. | :25:32. | |
of the housing market. You are in favour of increasing private debt? | :25:32. | :25:35. | |
Nobody is saying nobody should not take on mortgage, the Prime | :25:35. | :25:38. | |
Minister was not saying that, clearly. Do you think house prices | :25:38. | :25:42. | |
are too high? I think house price stability is the key. Do I think it | :25:42. | :25:45. | |
is too expensive, definitely. would like housing to become | :25:45. | :25:48. | |
cheaper? I think the house price stability would make housing more | :25:49. | :25:53. | |
affordable, it should be. If you go back only 10-15 years, houses would | :25:53. | :25:56. | |
have been three times the salary, now they are seven or eight times | :25:56. | :26:00. | |
the salary, that is a problem. do think the house of pricing is | :26:00. | :26:04. | |
too high? I have been clear is not you need for it to do is to | :26:04. | :26:09. | |
collapse back to three times in quick order, what you need is, you | :26:09. | :26:13. | |
need to have a stable housing market, which could still go up in | :26:13. | :26:16. | |
price with inflation, but not as much as average earnings over a | :26:16. | :26:19. | |
long period of time. That would be rational housing market, where | :26:19. | :26:24. | |
people can afford to get on the housing ladder. If house prices | :26:24. | :26:27. | |
drop to the point where they are more affordable and bear a better | :26:27. | :26:32. | |
relationship to income, as used to be. People will find themselves | :26:32. | :26:36. | |
overextended, won't they? I don't think the two things are | :26:36. | :26:39. | |
incompatible. The fact that people in this generation have been unable | :26:39. | :26:44. | |
to get in the housing market. The figure of 37 years old is often | :26:44. | :26:48. | |
quoted. 37 years old being the age which? You can get a home, if you | :26:48. | :26:53. | |
don't have the support of the bank of mum and dad. As the Housing | :26:53. | :26:56. | |
Minister and as a Government, we have spoonsability to today's | :26:56. | :27:01. | |
generation, whilst laifg a long- term and -- responsibility to | :27:01. | :27:04. | |
today's generation whilst having a long-term plan. You have a | :27:04. | :27:07. | |
responsibility to get people into debt? Any mortgage is getting | :27:07. | :27:10. | |
people into debt. You want to help them? I think it is perfectly | :27:10. | :27:14. | |
reasonable if somebody is a good bet for a mortgage for them to be | :27:14. | :27:18. | |
able to access that mortgage at a reasonable rate. Particularly given | :27:18. | :27:22. | |
we have record low rates. You don't agree with Mervyn King do you? | :27:22. | :27:26. | |
said that in 2008, right at the beginning of all of this. You know | :27:26. | :27:29. | |
he has changed his mind since then? I don't think he would have thought | :27:29. | :27:33. | |
that in 2011 we would be living in a world with very little growth. | :27:33. | :27:38. | |
Not just here but worldwide, and actually, you know, nothing much | :27:38. | :27:41. | |
happening in the housing market. I don't think it is right to walk | :27:41. | :27:45. | |
away, I don't think it is right to ignore the potential for economic | :27:45. | :27:48. | |
growth that building more homes brings. You think he has changed | :27:48. | :27:54. | |
his mind? I think times have moved on. He said unambiguously it is no | :27:54. | :27:57. | |
business of Government to get involved in this sort of lending? | :27:57. | :28:01. | |
Let me put it to to you another way. If the Government were only | :28:01. | :28:04. | |
proposing this measure in the housing strategy today, and we were | :28:04. | :28:08. | |
going to have indemties for mortgages, I think there are | :28:08. | :28:13. | |
another 136 measures, many dealing with the supply side, building more | :28:13. | :28:17. | |
homes. If you can build more homes, as well as providing the confidence | :28:17. | :28:21. | |
to get mortgages that people can afford. You put yourself in a | :28:21. | :28:25. | |
better position, which by the way, create jobs and provide a better | :28:25. | :28:29. | |
economy. The target was 120,000 homes last year, what do you want | :28:29. | :28:32. | |
to go to? Any reasonable estimate says we need to be building | :28:32. | :28:35. | |
probably twice as many homes in this country, north to satisfy the | :28:36. | :28:45. | |
:28:46. | :28:47. | ||
demand out there. You think you will be able to get it up to the | :28:47. | :28:52. | |
200,000 there? As outlined there, there is an awful lot in there. For | :28:52. | :28:55. | |
the first time ever we marry together the principle that it | :28:55. | :28:59. | |
can't just be about building more homes, the builders aren't building, | :28:59. | :29:03. | |
lenders aren't lending and buyers can't buy because there is a bigger | :29:03. | :29:06. | |
problem than just inability to put houses up right now. You have | :29:06. | :29:10. | |
decided to go for plan B? No, this is plan for growth. Which is what | :29:10. | :29:16. | |
we have always said we wanted to do. It is a good run up to the autumn | :29:16. | :29:19. | |
spending statement. You always wanted to spend public money? | :29:19. | :29:23. | |
are parts to spend public money, not outside the spending envelope | :29:23. | :29:26. | |
we have set out and we know about for the parliament. This is all | :29:26. | :29:29. | |
within that spending. There is another element here, that is to | :29:29. | :29:33. | |
provide confidence to the market place. This is this mortgage | :29:33. | :29:37. | |
indemnity scheme, it is not about spending vast sums of money, it is | :29:37. | :29:40. | |
about guarnteeing, because Government can, as a backstop for | :29:40. | :29:44. | |
mortgages. One final point, do you think you might have done more to | :29:44. | :29:47. | |
address the perceived housing shortage, had you not cut the | :29:47. | :29:50. | |
budget for social housing in the way you have? Just to be clear, we | :29:50. | :29:54. | |
are going to end up building more affordable house anything this next | :29:54. | :30:04. | |
four years. Social housing? Social and affording -- affordable houses, | :30:04. | :30:07. | |
subsidised rental housing, we will build more of that. A lot less than | :30:07. | :30:13. | |
you were planning to under the old plans? No, we have introduced | :30:13. | :30:17. | |
affordable rent, we are building more homes by subs sizing it | :30:17. | :30:20. | |
through a different way -- subsidising it in a different way. | :30:20. | :30:25. | |
We will build a lot more affordable housing, I think it is a good thing. | :30:25. | :30:28. | |
I think the whole principle of a housing strategy is to make sure we | :30:28. | :30:31. | |
are doing everything possible, not just one thing, not just affordable | :30:31. | :30:35. | |
homes, but homes for people at every level of society. | :30:35. | :30:39. | |
With us now is John Cridland, director-general of the CBI, the | :30:39. | :30:42. | |
former Labour Treasury minister, Kitty Ussher is also here, and the | :30:43. | :30:47. | |
editor of City AM Allister Heath. Do you think it is a good idea, | :30:47. | :30:52. | |
Allister Heath? No I don't. There is a very good reason why banks | :30:52. | :30:56. | |
aren't lending up to 125% as they did at the height of the madness, | :30:56. | :30:59. | |
they know they can't do that. If you do that run into trouble. There | :30:59. | :31:02. | |
is two things happening here. The economy is grinding to a halt. A | :31:02. | :31:06. | |
lot of people are starting to lose their jobs. That means some people | :31:06. | :31:10. | |
won't beable to afford their -- won't be able to afford their | :31:10. | :31:13. | |
mortgages. House prices are falling f homes are repossessed, banks | :31:13. | :31:17. | |
could lose money, that is why they are not lending. It is an | :31:17. | :31:20. | |
irresponsible use of public money? It is a dangerous use of public | :31:20. | :31:24. | |
money. I agree house building needs to be boosted, not enough homes are | :31:24. | :31:28. | |
built in the UK. I don't think the Government and the taxpayer should | :31:28. | :31:32. | |
underpin mortgages. Public money for private enterprise, good news | :31:32. | :31:35. | |
for you? I'm not looking for public money. I'm looking for Government | :31:35. | :31:39. | |
to use its power in the market to ginger up that market, and make it | :31:39. | :31:42. | |
more effective. The difference here is the judgment as to whether we're | :31:42. | :31:48. | |
in the 2008 position, where King was rightly concerned about wide | :31:48. | :31:53. | |
scale default, or whether we are at an actual all time low in house | :31:53. | :31:57. | |
building and buying, where there are people out there able to buy | :31:57. | :32:01. | |
houses but we need to get the house market moving. This is targeting | :32:01. | :32:06. | |
intervention, one the CBI has been calling for, I don't think it will | :32:06. | :32:10. | |
cost the Government much money. think that King has changed his | :32:10. | :32:13. | |
mind? I'm not saying that, but the CBI is clear that the priority is | :32:13. | :32:17. | |
growth. If we are going to get growth we have to be bold with some | :32:17. | :32:21. | |
policies. It is not plan B, it is plan A with a plus on the end, | :32:21. | :32:24. | |
which says let's get the housing market moving, without spending | :32:24. | :32:28. | |
money that the Government dose doesn't have. Kitty Ussher, this is | :32:28. | :32:33. | |
the sort of thing you believe in, this sort of initiative? I don't | :32:33. | :32:36. | |
believe it is a good idea to encourage people in the early | :32:36. | :32:40. | |
stages of their career to take on huge amount of debt. Spending | :32:40. | :32:44. | |
public money, it is good for you? It is going to boost aggregate | :32:44. | :32:48. | |
demand, but there are far more effective, and dare I say it, | :32:48. | :32:53. | |
intelligent ways of doing it. Just on the Mervyn King point, if he did | :32:53. | :32:58. | |
agree with the Government, he's now shortly going to be in charge of | :32:59. | :33:03. | |
the Financial Policy Committee that regulates the financial centre of | :33:03. | :33:06. | |
London, so he will certainly be able to allow the banks to do it | :33:06. | :33:12. | |
themselves it's not. One must presume he doesn't agree with this. | :33:12. | :33:16. | |
We need �200 billion of investment to green our infrastructure. The | :33:16. | :33:21. | |
Government through regulation. do what? Green our infrastructure. | :33:21. | :33:24. | |
What's that? Green energy suppliers, this is the Government's own | :33:24. | :33:28. | |
figures. And they can use regulatory policy that doesn't cost | :33:28. | :33:32. | |
them anything to get the private sector to invest in that. That | :33:32. | :33:36. | |
would boost the economy far more than �400 million here. When you | :33:36. | :33:42. | |
look at this, and the talk of credit easing, this is making money | :33:42. | :33:46. | |
available n this case to business, which we will presumably hear more | :33:46. | :33:49. | |
about next week in the statement. There is a change going on, isn't | :33:49. | :33:54. | |
there? There is a change, but I don't think it is an abandonment of | :33:54. | :33:57. | |
a deficit reduction strategy, the CBI wouldn't support that, and I | :33:57. | :34:00. | |
don't think it is the Government spending money it hasn't got. I | :34:00. | :34:03. | |
think whether it is energy, whether it is roads, whether it is rail, | :34:03. | :34:06. | |
whether it is housing, whether it is digital broadband, Government | :34:06. | :34:10. | |
can do things that will get the private sector to invest that | :34:10. | :34:14. | |
doesn't mean Governments abandon its strategy. There is lots of | :34:14. | :34:17. | |
money on private sector balance sheets. House builders are amongst | :34:17. | :34:21. | |
them, that can be put to the public good, if the planning permissions | :34:21. | :34:24. | |
are there, and the market regulation is there. If Government | :34:24. | :34:27. | |
does what it has done in this case with the indemnity scheme, bringing | :34:27. | :34:30. | |
people together looking for a new commercial solution and using the | :34:30. | :34:34. | |
role of Government to find that solution. That must be the right | :34:34. | :34:38. | |
thing to do. What I see instead, I see the Government starting to | :34:38. | :34:42. | |
provide credit and intervening more and more and more, I see the | :34:42. | :34:46. | |
Government continuing to privatise gains by socialised losses. If you | :34:46. | :34:52. | |
buy a house and your house price goes up you make money, if you it | :34:52. | :34:56. | |
goes down and the Government picks up the bill, people who can't | :34:56. | :35:00. | |
afford their houses pick up the bill. I don't like I'm seeing, I | :35:00. | :35:03. | |
thought it was about market reform and getting people out of this | :35:03. | :35:12. | |
stuff. I see neo-Brownite policy, constant interference, meddling. | :35:12. | :35:22. | |
:35:22. | :35:22. | ||
think that will sound very odd. woke him up to join in? I didn't | :35:22. | :35:26. | |
know I wasn't supposed to join in. Your office said you wouldn't? | :35:26. | :35:33. | |
had no idea I wasn't supposed to be. Why do we need 106 policies and | :35:33. | :35:36. | |
meddling, why not just liberalise it. It sounds like the sort of | :35:36. | :35:39. | |
thing a at this tank, an intelligent person like you might | :35:39. | :35:43. | |
come out with. Let's talk about the people who are 30, 35, 40, older | :35:43. | :35:47. | |
and would like a foot on the housing ladder. I don't think it is | :35:47. | :35:51. | |
right just to turn around and abandon those people. Government | :35:51. | :35:54. | |
doesn't have to be a bystander, Government is actually backing a | :35:54. | :35:57. | |
scheme which the industry themselves have come up with here. | :35:57. | :36:00. | |
This is not our scheme it is their skeerpblgswae can put our weight | :36:00. | :36:06. | |
behind it. By the way, -- scheme, we can put our weight behind it. By | :36:06. | :36:10. | |
the way it is good lending or bad lending, it doesn't change the | :36:10. | :36:16. | |
decisions the lenders have to make. What your policy is doing, it is | :36:16. | :36:20. | |
saying to someone who can get an 80% mortgage that they can get a | :36:20. | :36:24. | |
95% mortgage. It seems an 80% mortgage is more sensible than a | :36:24. | :36:29. | |
95%. If the house price falls down a bit, the taxpayer picks up the | :36:30. | :36:33. | |
bill. If the argument is we don't want to go back to the bad old days | :36:33. | :36:37. | |
of 125% mortgages, I entirely agree. Nobody thinks this is about to | :36:37. | :36:40. | |
happen in the next couple of years. We will review the scheme after two | :36:40. | :36:46. | |
years to see how it is going. The world has moved on a great deal. | :36:46. | :36:51. | |
But house prices are falling, a lot of people think house prices could | :36:51. | :36:54. | |
fall 15-20%, if they do that your scheme will have to kick in, and | :36:55. | :36:59. | |
the taxpayer will have to pick up the bill. It is dangerous time to | :36:59. | :37:02. | |
start on that. This is not just about first time buyers, we are | :37:02. | :37:07. | |
keen to help them, anyone buying a new home or a flat would qualify. | :37:07. | :37:11. | |
Anyone buying a new build. This is new build. That is another issue | :37:11. | :37:14. | |
with the policy, suddenly the demand for existing houses could | :37:14. | :37:19. | |
collapse. You are distorting the market and saying people have to | :37:19. | :37:23. | |
buy that? We know house building is a very important part of domestic | :37:23. | :37:27. | |
gross product, we know it ememploys people, two people for every single | :37:27. | :37:32. | |
house that is built. We know that the Government can have an active | :37:32. | :37:37. | |
role in saising, we're not prepared to standby -- in assisting, we are | :37:37. | :37:43. | |
not prepared to standby, we want to sais. We think 100,000 people can | :37:43. | :37:46. | |
benefit from it. People watching who aren't in the fortunate | :37:47. | :37:51. | |
position of those around the table of having a home, is thinking, | :37:51. | :37:56. | |
rather than saving �40,000 deposit, I can save �10,000. As long as I'm | :37:56. | :38:00. | |
a secure bet for the lender I can get on the housing ladder. They are | :38:00. | :38:03. | |
great intentions, we have learned that great intentions in housing | :38:03. | :38:10. | |
policy don't work. If it is �10,000, why not cover the whole thing. | :38:10. | :38:14. | |
Cridland you would probably like to tell the minister how wonderful he | :38:14. | :38:18. | |
is I would say a thousand business leaders met at the CBI conference | :38:18. | :38:20. | |
today. When the Prime Minister announced it, there was strong | :38:20. | :38:24. | |
support in the hall. If we're serious about growth, and these are | :38:24. | :38:27. | |
extraordinary times, and over the winter, because of the eurozone | :38:27. | :38:30. | |
crisis growth will get close to stalling in this country. If we're | :38:30. | :38:33. | |
serious about growth it has to be the absolute priority. We know if | :38:33. | :38:38. | |
we get the construction industry moving, lots of people will start | :38:38. | :38:42. | |
spending. It is not irresponsible spending. This is not plan B, it is | :38:42. | :38:47. | |
not spending any more money than the Government intended to spend | :38:47. | :38:49. | |
before. These are imaginative solutions that get way from the | :38:49. | :38:53. | |
idea that there is no hope for the public, or that the only way to do | :38:53. | :38:56. | |
it is to spend money we don't have. It has taken the year-and-a-half | :38:56. | :38:59. | |
for the Government to wake up to the need? We have been in | :38:59. | :39:02. | |
discussions with the Government on all these various forms of | :39:02. | :39:08. | |
infrastructure for the last six months for novel ways to get growth | :39:08. | :39:12. | |
going. Earlier in the year, growth was going to be higher before the | :39:12. | :39:15. | |
eurozone crisis kicked in, the Government didn't need to do as | :39:15. | :39:20. | |
much as it does to keep the economy going, none of this is about | :39:20. | :39:23. | |
reducing the deficit more slowly, none of this is about printing | :39:23. | :39:30. | |
money. It is about Anne tell gent use of the public -- an intelligent | :39:30. | :39:33. | |
use of the public sector money and the private sector in tandem. It | :39:33. | :39:37. | |
has the support of British business. It is free money and underwriting | :39:37. | :39:44. | |
the risk of business, of course it has rating. It is a step to take | :39:44. | :39:47. | |
hold of the deficit. You stalled growth in this country by a | :39:47. | :39:53. | |
collapse in consumer confidence, and you are telling people they | :39:53. | :39:57. | |
should go. We have half per cent interest rates. Now the great | :39:57. | :40:01. | |
European project, the dream of statesmen across the continent is | :40:01. | :40:04. | |
as safe tonight as last week, and endangered as it was last week, | :40:04. | :40:09. | |
after Spain yesterday chose a new Government. It thus became the | :40:09. | :40:13. | |
fifth member of the euro to dump a leader to save its status. In the | :40:13. | :40:18. | |
troubled times when politics and economics seem to collide, it is | :40:18. | :40:28. | |
:40:28. | :40:32. | ||
time to reach for a European, 79- year-old author, Umberto Eco, his | :40:32. | :40:39. | |
novel the Roses, it sold millions of copies around the world, and -- | :40:39. | :40:45. | |
The Name of the Rose, sold millions maid into a film. He has strong | :40:45. | :40:50. | |
views about his country's place in Europe. He was an outspoken critic | :40:50. | :41:00. | |
:41:00. | :41:02. | ||
of Silvio Berlusconi's Government. His new book, the Prague Cemetery, | :41:02. | :41:06. | |
describes a world of plots, fear and paranoia and the rise of anti- | :41:06. | :41:16. | |
:41:16. | :41:16. | ||
semitism. Eco, you're the well spring of this book -- Umberto Eco, | :41:17. | :41:23. | |
the wellspring of this book is anti-semitism, bigotry and forgery. | :41:23. | :41:28. | |
That climate of suspicion in Europe, do you think it is as great now as | :41:28. | :41:38. | |
:41:38. | :41:40. | ||
it was? If you are thinking of universal plot paranoia, they are | :41:40. | :41:50. | |
:41:50. | :41:51. | ||
two different aspects, I would say that racism has lost the violent | :41:51. | :41:55. | |
forms it had before the Second World War. When you look at Europe | :41:55. | :42:00. | |
itself, it is only going in one direction, isn't it, what is the | :42:00. | :42:03. | |
ultimate destination of the European project, do you think? | :42:03. | :42:08. | |
believe strongly that there is a European identity. Maybe, when you | :42:08. | :42:13. | |
are in Italy or I'm here, we're don't feel it so strongly, but we | :42:13. | :42:21. | |
both are in New York, immediately with this thing we have something | :42:21. | :42:29. | |
in common with respect to Americans. Now the problem with it is linked | :42:29. | :42:36. | |
not to or ideolgical reasons but economical reasons. I'm not sure | :42:36. | :42:41. | |
how much the euro can survive. I'm not confident. Do you see at the | :42:41. | :42:45. | |
end of this process of European co- existence and then co-operation, | :42:46. | :42:49. | |
and then development of economic European and so on, do you see a | :42:49. | :42:58. | |
single state at the end of it? Because I think that the nation | :42:58. | :43:04. | |
states, England, France, were a product of the Middle Ages, more or | :43:04. | :43:12. | |
less. Today they are less important than before, because it is more | :43:12. | :43:22. | |
important the ju, milag e -- jumilag e between a city in the | :43:22. | :43:25. | |
north with Spain with the common interest and connection. I see | :43:25. | :43:35. | |
rather a sort of archepelg io of situations, not a unique state. | :43:35. | :43:40. | |
you think the single currency, the euro, which we are now told can | :43:40. | :43:43. | |
only survive if there is fiscal June, monetary policy European | :43:43. | :43:48. | |
between the member gates. Do you think that was a mistake? -- member | :43:48. | :43:53. | |
states. Do you think that was a mistake? This is a precise | :43:53. | :43:57. | |
economical question. It is not just economical? For me it is not a | :43:57. | :44:00. | |
mistake. I feel very comfortable, it doesn't mean anything in this | :44:00. | :44:04. | |
one. You say it is an economical question, it is a political | :44:04. | :44:08. | |
question? It is an economical and political economy. I'm not in the | :44:08. | :44:13. | |
position of saying if that was really a mistake, or if it has a | :44:13. | :44:16. | |
future. What's very interesting for those of us in this country, of | :44:16. | :44:21. | |
course, is that your country, now has a Government, the cabinet of | :44:21. | :44:25. | |
which, includes not one democratically elected figure. That | :44:25. | :44:34. | |
has made necessary because of the euro. It has political consequences. | :44:34. | :44:38. | |
We find it in this country unimaginable where we have a | :44:38. | :44:47. | |
Government that is not elected? Kissing er elected by the people, a | :44:47. | :44:52. | |
lot of Governments were not elected by the people. It is presidential | :44:52. | :44:58. | |
appointments, it is a different system of Government. We are in | :44:58. | :45:01. | |
exceptional circumstances. I'm glad you don't have Silvio Berlusconi in | :45:01. | :45:05. | |
your country, if not you would be obliged to find the same solution! | :45:05. | :45:11. | |
How could your country put up with Berlusconi? How could Italy put up | :45:11. | :45:17. | |
with Berlusconi, how could you tolerate Berlusconi? Berlusconi was | :45:17. | :45:25. | |
a genius in communication. Even his blunders were calculated to reach | :45:25. | :45:30. | |
his tart, his targets were middleaged people, ladies and | :45:30. | :45:35. | |
gentlemen, who watched television. And they are enough to make up a | :45:35. | :45:40. | |
majority. Why does Italy put up with this succession of Governments | :45:40. | :45:45. | |
of varying degrees of competence, or embarrassment? Italians don't | :45:45. | :45:50. | |
have a strong sense of the state. That is absolutely true. Would you | :45:50. | :45:53. | |
join a Government of technocrats if you were invited? That is not my | :45:53. | :45:58. | |
job. I'm saying if you were invited would you join it? If I were an | :45:58. | :46:03. | |
expert and I were invited by Mr Monti, probably yes, in order to | :46:03. | :46:08. | |
serve my country in a democratic way. Since I have the guarantee of | :46:08. | :46:14. | |
the President of the Republic. Akiko keek thank you. | :46:14. | :46:17. | |
That is quite -- Umberto Eco, thank you. | :46:17. | :46:24. | |
That is quite enough for us, you might think so. Before we go, the | :46:24. | :46:31. | |
death was announced today of Sheila Delaney who, before 20, had written | :46:31. | :46:38. | |
the gritty drama A Taste of Honey. You are just feeling a bit | :46:38. | :46:44. | |
depressed, you will be your usual self once you get used to the idea. | :46:44. | :46:51. | |
What is my usual self, my usual self is a very unusual self, I'm an | :46:51. | :46:54. | |
extraordinary people, there is only one of me like there is only one of | :46:54. | :47:00. | |
you. We are unrivaled. We're bloody you. We are unrivaled. We're bloody | :47:00. | :47:04. | |
marvellous! A murky night, fog forming across | :47:04. | :47:14. | |
:47:14. | :47:18. | ||
the south-east causing problems in the morning. Patchy rain in the | :47:18. | :47:22. | |
Midlands, not reaching East Anglia and the south-east. Hopefully the | :47:22. | :47:27. | |
fog will lift to some extent. To the rear of the weather front | :47:27. | :47:31. | |
things brightening up. Western parts of Wales will see sun before | :47:31. | :47:35. | |
it sefplts further east towards the English border probably staying | :47:35. | :47:40. | |
cloudy. Up across Northern Ireland set to be a lovely day, a chilly | :47:40. | :47:46. | |
start, with a lot of sunshine throughout the day. A change from | :47:46. | :47:56. | |
:47:56. | :48:01. | ||
The sunshine not lasting long in the north. Cloudy, windy and at | :48:01. | :48:05. | |
times wet weather across parts of Scotland and Northern Ireland in | :48:05. | :48:08. | |
particular. Further south the rain should clear away, and Wednesday | :48:08. | :48:11. | |
after a potentially frosty start it looks like a bright and crisp | :48:11. | :48:16. |