13/06/2014 The Papers


13/06/2014

No need to wait to see what's in the papers - tune in for a lively and informed conversation about the next day's headlines.


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

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

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

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

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stop militants capturing Baghdad. And the Telegraph reports that the

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

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Justice is scrambling to recruit more prison officers to deal with

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

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claims a big rise in passport applications from migrants is

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

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

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

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

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actress Angelina Jolie. We have to include this. Steven

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Battle of Trafalgar. And the Financial Times have been quite

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condemn the Financial Times have been quite condemnatory. The English

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

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

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love the idea of a financial commentator turning to the Financial

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

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

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

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

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

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

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

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

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because the Daily Express is telling people to avoid alcohol!

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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than expected, particularly on unemployment. The Financial Times

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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truly peculiar and extraordinary considering where we have come from

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

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

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

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

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

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presence in Syria. It reflects the transnational nature of this

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

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the different interests and sectarian divisions in all of these

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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and difficult journey and most people fight against it very hard

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

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

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

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

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wonder whether this is really that appropriate to honour an American

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

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

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

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

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

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edition of the sport.

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