13/06/2014 The Papers


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Hello and welcome to our look at the morning's papers. With me are the


Independent's Economics editor, Ben Chu, and the financial commentator,


Louise Cooper. Let's start with the front pages. The crisis in


the main story in the Independent, which claims Iran may intervene to


stop militants capturing Baghdad. And the Telegraph reports that the


SAS may be deployed in the conflict. The Times says that the Ministry of


Justice is scrambling to recruit more prison officers to deal with


the growing number of prisoners in Britain's jails. The Daily Mail


claims a big rise in passport applications from migrants is


contributing to the delays at the passport office. The Mirror has a


picture of the late teenage cancer fundraiser, Stephen Sutton, who has


been included on the Queen's Birthday Honours list. And the


Guardian shows another person who has been awarded an honour, the


actress Angelina Jolie. We have to include this. Steven


Gerrard on the front page of the Sun. The pubs are open until one


o'clock tomorrow. England play rugby and cricket. What could possibly go


wrong? Everyone has used this photograph of him with the England


flag, and I'm thinking, would he not have shaved? It is not even a beard.


It is tatty. It is very fashionable these days. Clearly, I know nothing.


He did not have his beard with him at a press conference. He just got


not be bothered. Is that the best you could offer? I like this photo


shop in the corner. Samba Saturday? Who is this? He is dressed up like


he is ready for the samba. He has maracas and a headdress and he is


wearing his suit. I learned early in my career that you should under


promise and overdeliver. I believe there is quite a bit of that going


on and let's hope they deliver on that, but if the past is anything to


go by... I think you are right to detect some tongue in cheek about


that question, what could possibly go wrong... Anything that can go


wrong will go wrong. The pubs are open until one o'clock, it's sunny


weather, get the barbecue out... They are a young team. The second


youngest squad ever. We don't know what the game plan is. And they are


going against Italy. It's not the best draw for your first match. Last


time they met, it was a one`sided affair. And they will need to be


young and fit because it will be 70% humidity. They will be running


around in very hot weather and you would not fancy doing that if you


were over 25. They are very young. Frank... I was thinking about Frank


Lampard earlier. He is the only one I recognise, I have to admit. Roy


Hodgson says all we have to do is get behind them. It's only that was


all we had to do! There is this quote from Steven Gerard. There must


be no regrets. Hope over experience? I liked the Financial Times. England


expects that an early flight home is on the cards. And apparently the


line England expects goes back to Admiral Nelson. A signal before the


Battle of Trafalgar. And the Financial Times have been quite


condemn the Financial Times have been quite condemnatory. The English


back home expect almost nothing. The nation's trajectory has been from


hubris to self`mockery but this time, they have skipped phase one. I


love the idea of a financial commentator turning to the Financial


Times for the news on the football World Cup. The Daily Express has a


new weather warning for the summer. They have issued some advice for the


long, hot spell, which apparently has no end in sight. The health


warnings are the usual things. Put on a hat and sunscreen. Hold the


front page. Summer is hot. Avoid alcohol, it says, on the day of the


first England match in the World Cup, where the one weekend in the


year that people are likely to take to alcohol with the barbecue, it's


hot pubs will be open until one o'clock in the morning, but it's OK


because the Daily Express is telling people to avoid alcohol!


The NHS staff are braced, as they say. They always use that word.


Assume the position! Braced for emergencies. It seems like a


sensible thing to do. We have been waiting so long for this. And the


pubs open late... It's hot, people drink lager when it is warm. And in


the middle of a recession... Will you be watching? It's a bit late for


us. We have kept you up late. The Sunday lying in afterwards. We had a


laugh about this. If you don't have young children! The Financial Times.


We are on safer territory here, 's financial types. Promised little and


overdeliver? Buyers urged to tie in home loan rates. This is because we


heard from the Governor of the Bank of England and warning that interest


rates would rise earlier than the markets had been... Banking on.


Mortgage brokers, of course, are calling on us to tie into fixed


rates. Another hold the front page moment. Mortgage brokers say go and


get a mortgage. He came out last night and said that interest rates


might go up sooner than imagined. The economic data has been better


than expected, particularly on unemployment. The Financial Times


have followed this up by saying this would be a good time to get a fixed


rate deal because those rates will go up sooner than imagined. To be


fair, the most recent data I saw in the Financial Times this week


suggested that 85% of recent mortgages were on a fixed rate


anyway, so when these mortgage brokers are urging us all, it seems


we are doing it anyway. The good news is that sterling is very


strong. ?1 will buy $1 70, so if you want to take family to in Florida,


this is the time. `` ?1 will buy $1.70. But for British companies


wanting to export... The other side of the coin. A good day for


holidaymakers. A bad day for metal bashers in the East Midlands. It was


ever thus. Are there any metal bashers in the East Midlands? I'm


glad to hear it, as someone from the East Midlands. I was encouraged


years ago to fixed my mortgage and I'm glad I did not because it has


stayed so low. When the economy turned this time last year, the


markets thought that because of the strength of the recovery and because


rates were so low, the markets were predicting a rate rise at the end of


last year and it was only when Mark Carney said he would not raise the


rate that the markets said, OK... What did he say? He was giving them


forward... Forward guidance and we did have a laugh. Not to be confused


with guidance on its own. Something of a tautology. Oh, and it was very


funny and there was lots of teasing of him because clearly interest


rates... Unemployment rates dropped to his target. Gordon Brown had this


with his five test that had to be met and when they work, he moved


things a bit because it's not that simple, is it? To be fair to the


Bank of England... You get egg on your face when ever you try to make


a forecast beyond the very short term. Like the weather. But the


difference is that they only issue five`day forecasts with the weather


and they are willing to admit when they get it wrong, which is very


different to economists. And central bankers. The Guardian. The US and


Iran join the fight for Iraq. In what capacity, we do not know. Air


strikes against jihadis. Tehran has sent a top general to Baghdad. If


you wait long enough, you can almost see any headline but the idea that


the US and Iran are having to join forces to suppress a revolt by


Islamists in Iraq, who do some pretty atrocious things who stand in


their way... Truly extraordinary but also extraordinary that the US and


Iran, as the headline says, would join to fight for Iraq. That is


truly peculiar and extraordinary considering where we have come from


in history. The Guardian also has a line that Obama may considered yet


strikes, air strikes, into Syria as well. And that is a different mind


that I have not read in the other newspapers so far today. He is


considering airstrikes. Not boots on the ground but here, they are


suggesting that Syria as well as Iraq. That is because ISIS have a


presence in Syria. It reflects the transnational nature of this


insurgency. Everything is connected. If you work to do a diagram of all


the different interests and sectarian divisions in all of these


different countries, it would confuse you even more. And this is


what policymakers in the US and UK are dealing with. How can you


possibly be constructive when you cannot even see where all of the


alliances are? And there is such a deep irony. The US has been at


loggerheads with Iran for most of the past decade and now they find


themselves on the same side against this sort of Al`Qaeda linked group.


It must be very difficult to see what to do at the moment. The


Mirror. The Queen 's birthday honours. This is Stephen Sutton,


raised nearly ?4 million for the Teenage Cancer Trust. He has been


given an MBA. He found out just a short time before he died. This will


is probably one of the easiest decisions the committee could make.


He inspired everyone. There was such a ground swell of support and the


money raised was fantastic for a brilliant course and it really does


give the list a good name when this sort of thing happens. What I found


truly moving about him was his approach to his own death. He knew


that it was coming and he accepted it. Now, many adults find it very


difficult to accept their own mortality and it is a very emotional


and difficult journey and most people fight against it very hard


and here is a young man with the maturity to accept one of the


greatest injustices. Not the length of time you live but what you do


with the times you have got. And an honourary title for Angelina Jolie.


She has clearly done a lot of very important aims for charity but I do


wonder whether this is really that appropriate to honour an American


actress in this way. Even if she does make William Hague smile? The


cynic in me fears that is one of the reasons why she has got it, because


she has put him in a very good light. Such cynicism! It just


saddens you, really. Thank you anyway. Those are the papers


tonight. Stay with us because coming up next, we have a special World Cup


edition of the sport.


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