Browse content similar to 03/11/2011. Check below for episodes and series from the same categories and more!
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Tonight, This Week remembers Sir Jimmy Saville and asks for his help. | :00:23. | :00:28. | |
Dear Jim, please, please, please, help us fix Greece and the eurozone | :00:28. | :00:33. | |
crisis. Journalists and commentator Mary- | :00:33. | :00:38. | |
Ann see Sieghart gets her wish to take part in a Greek tragedy. | :00:38. | :00:43. | |
eurozone is facing its worst crisis in its history. At least since last | :00:43. | :00:48. | |
week. Now then, now then guys and gals, | :00:48. | :00:53. | |
this is from Lambeth Palace: Please ask God to make the protesters go | :00:53. | :01:02. | |
away. From Rome, 6 1 and a half. Diane Louise Jordan thinks she can | :01:02. | :01:06. | |
help. Whilst the church can't wish the protesters away, it needs to | :01:06. | :01:10. | |
reach out and stand up for what it really believes in. Goodness | :01:10. | :01:16. | |
gracious, as it happens, what made Jimmy Saville make people's dreams | :01:16. | :01:20. | |
come true and what made three Pakistani cricketers throw their | :01:20. | :01:27. | |
dreams away. We look at motivation, the Strictly phenomenon Nancy | :01:27. | :01:32. | |
Dell'Olio. I'm really looking forward to coming on to This Week, | :01:32. | :01:40. | |
especially to dance my tango with Andrew. How's about that then?! | :01:40. | :01:46. | |
Evening, all. Welcome to This Week, the show which knows as much about | :01:46. | :01:50. | |
Party Politics as Pippa Middleton does about party planning, which | :01:50. | :01:55. | |
fortunately for us sets the bar comfortably low. Unlike her, we | :01:55. | :01:59. | |
don't have to write a book about it. Even we couldn't miss the launch of | :01:59. | :02:04. | |
the coalition's eye-catching, much- anticipated growth strategy, or to | :02:04. | :02:09. | |
give it its official title, the high-viz jacket strategy. There | :02:09. | :02:13. | |
comes a time in every faultering Government with the economy tanking | :02:13. | :02:17. | |
and the price of fizzy German wine rocketing when Cabinet members are | :02:18. | :02:22. | |
suddenly spotted in a procession of day glow work wear outfits and | :02:22. | :02:25. | |
goofy safety glasses designed to give the impression that they | :02:25. | :02:30. | |
really do know what they're doing. First up This Week was Boy George | :02:30. | :02:34. | |
in the luminous pink health and safety anorak. Who gave a less than | :02:34. | :02:37. | |
convincing emprition that he understood what that nice working | :02:37. | :02:44. | |
class chap from Network Rail told him about this latest engineering | :02:44. | :02:51. | |
thingy. Then Nick Clegg popped up at Sheffield Forge Masters | :02:51. | :02:55. | |
Steelworks looking like Eddie the Eagle to announce a �36 million | :02:55. | :03:01. | |
loan to the company just 16 months after the coalition cancelled an | :03:01. | :03:04. | |
�80 million loan to the very same company. | :03:04. | :03:11. | |
But, 16 months ago, Mr Clegg's constituents quite liked him. Yes, | :03:11. | :03:14. | |
nothing makes a politician happier than using our money to buy them | :03:14. | :03:20. | |
votes. Speaking of bare faced cheek, I'm joined by two of Westminster's | :03:20. | :03:23. | |
most shameless self-publicists. Think of them as the Katie Price | :03:23. | :03:27. | |
and Peter Andre of late-night political chat and you can decide | :03:27. | :03:30. | |
which is which. I speak of course of Michael Portillo and Alastair | :03:30. | :03:36. | |
Campbell. Good Evening, gentlemen. Hello, an true. Michael, your | :03:36. | :03:40. | |
moment? I'm very interested in the way national sovereignty is being | :03:41. | :03:45. | |
eroded. There was the spectacle of Angela Merkel and Nicolas Sarkozy | :03:45. | :03:47. | |
berating the Greek Prime Minister for having the cheek to consider | :03:47. | :03:51. | |
that he should ask his people what they thought of the deal. But also, | :03:51. | :03:55. | |
I'm very interested, it's clear that Merkel and Sarkozy have been | :03:55. | :03:59. | |
making telephone calls to other politicians in Greece. I was very | :03:59. | :04:02. | |
struck that at dawn this morning, suddenly the Greek Finance Minister | :04:02. | :04:06. | |
comes out and announces that he's against the referendum which made | :04:06. | :04:09. | |
the referendum collapse. It just makes you wonder whether these | :04:09. | :04:13. | |
people inside Greece now, their strings with being pulled by the | :04:13. | :04:16. | |
elite in Brussels or, as they are this week, in Cannes. | :04:16. | :04:21. | |
By the Presidents and the Chancellor? You may say that. | :04:21. | :04:26. | |
Suppose it's better than invading telephone calls. Alastair, your | :04:26. | :04:29. | |
moment? It was going to be about the Greek crisis until I went to | :04:29. | :04:35. | |
the green room and Nancy jumped all over me. So that's now my moment of | :04:35. | :04:39. | |
the week. Glad you've got over it It was lovely but my moment of the | :04:39. | :04:43. | |
week was actually watching the arrivals at the G20 today and | :04:43. | :04:47. | |
hearing them being described as the 20 most powerful leaders in the | :04:47. | :04:54. | |
world at a time when they looked and seemed to feel absolutely | :04:54. | :04:57. | |
powerless. The sight of Barack Obama and the Chinese Prime | :04:57. | :05:00. | |
Minister and all these guys actually really, really caring | :05:00. | :05:04. | |
about what was happening within the Greek political system and you just | :05:04. | :05:09. | |
had a sense of this crisis kind of lurching out of control and no | :05:09. | :05:12. | |
sense of where the control is going to come from. They've essentially | :05:12. | :05:16. | |
wasted their carbon footprint. We'll talk more about that. Because | :05:16. | :05:19. | |
regular viewers know that here on This Week, we've been very | :05:19. | :05:24. | |
concerned about the welfare of Tristram and Arabella and all their | :05:24. | :05:29. | |
chums hanging out at St Paul's. Oh yar. We are thrilled the | :05:29. | :05:32. | |
authorities said they can keep their tents up until the New Year. | :05:32. | :05:39. | |
All very cosy there now the old druid of Canterbury reaches them | :05:39. | :05:49. | |
every night. We've asked Songs of Praise host Diane Louise Jordan to | :05:49. | :05:59. | |
:05:59. | :06:18. | ||
head down to St Paul's and give us Well, it's not been a great week | :06:18. | :06:21. | |
for the Church of England. The protesters camped here at St Paul's | :06:21. | :06:26. | |
have grabbed the headlines and the agenda. But the question is, have | :06:26. | :06:31. | |
they thrown, not just this cathedral, but the entire Anglican | :06:31. | :06:35. | |
Church into chaos? As a Christian, I'm deeply | :06:35. | :06:40. | |
disappointed that the cathedral initially behaved like a self- | :06:40. | :06:44. | |
interested dinosaur whose first reaction was to bolt its doors and | :06:44. | :06:48. | |
consult its lawyers. From a PR perspective, it's not | :06:48. | :06:52. | |
been great. It would seem that the cathedral's been much more | :06:52. | :06:55. | |
concerned about how much it's losing in the gift shop than at the | :06:55. | :07:05. | |
:07:05. | :07:09. | ||
very least engaging with the world The ka had to ral could have | :07:09. | :07:15. | |
avoided all this criticism heaped on it instead if it flung open its | :07:15. | :07:18. | |
doors and connected with the protestors and listened to their | :07:18. | :07:22. | |
concerns whrrbgs that be about unfairness, bankers' bonuses or | :07:22. | :07:27. | |
city greed. Personally, I have a hunch that Jesus would have been | :07:27. | :07:31. | |
found right here in this camp and not behind the locked doors of the | :07:31. | :07:37. | |
cathedral. I'm relieved that the church has finally this week become | :07:37. | :07:41. | |
involved in the discussion. But I question the wisdom of advising on | :07:41. | :07:45. | |
specific policy like the Robin Hood tax, rather than engaging in the | :07:45. | :07:50. | |
wider debate on how we love our neighbour. | :07:50. | :07:55. | |
The church has an opportunity of a generation. The world financial | :07:55. | :08:00. | |
crisis has shown that capitalism has inherit flaws. Without doubt, | :08:00. | :08:06. | |
there's a huge gap between the rich and the poor. So, rather than naval | :08:06. | :08:10. | |
gazing, the church should come out beyond the church buildings, beyond | :08:10. | :08:15. | |
its congregation and concern itself with the issues that affect us all, | :08:15. | :08:20. | |
issues like poverty, unemployment, insecurity and fear. | :08:20. | :08:24. | |
So, has what's happened over the last couple of weeks dented the | :08:24. | :08:28. | |
church's credibility to such a degree that there's no way back? | :08:28. | :08:32. | |
From now on, will the church be seen as a greedy old relic from the | :08:32. | :08:38. | |
past? No. I actually believe that this is a beautiful opportunity for | :08:38. | :08:42. | |
the church to truly represent everything Jesus championed, to be | :08:42. | :08:52. | |
:08:52. | :08:59. | ||
right at the centre of a radical, Diane Louise Jordan joins us at our | :08:59. | :09:02. | |
campsite in London. Very posh campsite. Because we are very posh, | :09:02. | :09:06. | |
as you can tell. You can actually spend the night here. Still trying | :09:06. | :09:13. | |
to work out which is Katie and Peter. We'll get our own back, | :09:14. | :09:18. | |
don't worry. If, as you said in your film, you | :09:18. | :09:23. | |
really think Jesus would be inside the tent, how did the church manage | :09:23. | :09:31. | |
to get it so wrong? I don't know. I think sometimes when you're having | :09:31. | :09:35. | |
a building with all the sort of responsibilities and all that sort | :09:35. | :09:38. | |
of stuff, I think you can sort of get so involved with how that runs | :09:38. | :09:43. | |
that you sort of just miss your footing on what's actually | :09:43. | :09:47. | |
happening right under your nose. I don't really think the guys at the | :09:47. | :09:51. | |
cathedral had any sort of sinister agenda or anything like that. | :09:51. | :09:55. | |
just seemed out of your depth? I just think they literally weren't | :09:55. | :09:58. | |
looking where they were supposed to be. My sadness is that they didn't | :09:58. | :10:03. | |
sort of, you know, focus on what was really happening sooner. | :10:03. | :10:06. | |
issues that have caused this campsite and others in other cities | :10:06. | :10:09. | |
around the world to spring up, although the campsite's not been | :10:09. | :10:13. | |
there for very long, the issues causing it have been around for a | :10:13. | :10:19. | |
while. Exactly. Particularly after the financial crash of 2008. So why | :10:19. | :10:24. | |
did it take two weeks for the bant to say anything? -- Archbishop of | :10:24. | :10:27. | |
Canterbury? I think a lot of Christians are sitting there | :10:27. | :10:31. | |
feeling the same why. You know, this is an area really where the | :10:31. | :10:36. | |
church should be leading the way really. This is the mandate to help | :10:36. | :10:40. | |
the broken hearted and the disenfranchised and the widow and | :10:40. | :10:46. | |
all that sort of stuff. So I think that the guys at the cathedral | :10:46. | :10:51. | |
really just didn't respond. refer to Rowan Williams, he did an | :10:51. | :10:55. | |
article in the FT yesterday about the Tobin tax, he's been saying | :10:55. | :10:58. | |
that for some time. I think the reason why this story's taken off | :10:58. | :11:02. | |
in the way that it had is because it's one of those situations where | :11:02. | :11:07. | |
a big organisation didn't kind of know what its instincts were. | :11:07. | :11:11. | |
That's why it was brilliant, that banner,, what would Jesus do, in | :11:11. | :11:16. | |
the film. They didn't know what their instincts were to be to | :11:16. | :11:19. | |
project the Majesty of the great building and it's linked with the | :11:19. | :11:23. | |
City, which I'm not criticising them for this, but they get a lot | :11:23. | :11:27. | |
of money to keep the whole thing going, or were they instincts to go | :11:27. | :11:32. | |
out to people who were saying the sort of things... There was another | :11:32. | :11:36. | |
institution though found to be out of its depth in the immediate | :11:36. | :11:41. | |
aftermath of Princess Diana's death and that was Buckingham Palace and | :11:41. | :11:47. | |
the Royal Family. You were involved, Alastair, in trying to get that | :11:47. | :11:51. | |
institution on the right track post-the car crash. What would you | :11:51. | :11:56. | |
have advised the church if they asked you? To have gone straight | :11:56. | :12:01. | |
out and engaged with them and appealed to them to actually help | :12:01. | :12:03. | |
them organise the protest in a way that could have kept the church | :12:03. | :12:10. | |
open. It was shutting the church I think that sort of... That drew | :12:10. | :12:14. | |
everybody's attention. The other concern is that you have compared | :12:14. | :12:20. | |
the church to another institution and my frustration, and I wonder if | :12:20. | :12:24. | |
that's the same with a lot of other Christians is, why is the church an | :12:25. | :12:28. | |
institution, that's not what it's supposed to be. It's because it's | :12:28. | :12:34. | |
not an institution that it's found it difficult to handle this. As a | :12:34. | :12:37. | |
Christian, your response should be, you should be free enough so that | :12:37. | :12:41. | |
your response can be there's an issue, there are people that have a | :12:41. | :12:46. | |
need. You can't all have the same response. Within St Paul's itself | :12:46. | :12:48. | |
and then the Archbishop of Canterbury, they didn't have the | :12:48. | :12:52. | |
same response because they didn't know what their instincts with. | :12:52. | :12:57. | |
Let me bring Michael in. He's being uncharacteristically patient. | :12:57. | :13:04. | |
of all, I see this a as supreme example of the horrible health and | :13:04. | :13:09. | |
safety culture. It's not been wound back. It's a brave person who, when | :13:09. | :13:12. | |
advised by a lawyer says there's a health and safety issue, says I'm | :13:12. | :13:17. | |
going to take my chances. If you do that and something happens, you are | :13:17. | :13:21. | |
in trouble. The other thung is, it's all very well to say the | :13:21. | :13:25. | |
church has some sympathy with what the protesters are saying, I can | :13:25. | :13:28. | |
understand them too. But what is the connection between having a | :13:28. | :13:32. | |
problem with big bank bonuses or whatever and putting your tents all | :13:32. | :13:37. | |
over a public facility? I mean, where is the right of the public to | :13:37. | :13:41. | |
enjoy the amenity space? Why is it that any minority, however small, | :13:41. | :13:45. | |
can put up its tents anywhere it wishes in Britain and spoil the | :13:45. | :13:50. | |
amenity? Diane? I don't know about these guys putting up tents there, | :13:50. | :13:54. | |
but I think the underlying thing is, one of the beautiful things about | :13:54. | :13:58. | |
this country is that we have the freedom to express our concerns | :13:58. | :14:03. | |
about whatever it is. We have the freedom to protest. ALL SPEAK AT | :14:03. | :14:06. | |
ONCE You don't need the freedom to put | :14:06. | :14:10. | |
up tents. Perhaps. It's a form of protest. I don't particularly want | :14:10. | :14:15. | |
to hear the views of organisation or groups that I disagree with like | :14:15. | :14:21. | |
the BNP or whatever, but they have the freedom to protest in the way | :14:22. | :14:30. | |
Because they have moved to St Paul's, the issue has become about | :14:30. | :14:35. | |
the Church. The other issues have gone on to the back-burner. | :14:35. | :14:38. | |
thing that I am more interested in - we can go down the road about | :14:38. | :14:42. | |
whether they should be camping or not, and there were some | :14:42. | :14:46. | |
disgruntled people today who did not want them there - but the point | :14:46. | :14:49. | |
I am concerned about, from the Christian point of view, is how do | :14:49. | :14:57. | |
we, as Christians, respond to this global discontent. It is not just | :14:57. | :15:00. | |
the guys outside St Paul's Cathedral. Around the world there | :15:00. | :15:04. | |
is a growing feeling, and people are not necessarily articulating it | :15:04. | :15:09. | |
in a coherent way, but they feel disenfranchised. How is the Church | :15:09. | :15:14. | |
going to respond to that? I think that is a good. But I do not think | :15:14. | :15:17. | |
the Church is obliged, nor the British public, to indulge this | :15:17. | :15:23. | |
invasion of the public space and this ruining of a public amenity. | :15:23. | :15:28. | |
You famously said that politicians do not do God. Should priests not | :15:28. | :15:33. | |
do politics? Because of what you have just said, I think it is very | :15:33. | :15:36. | |
hard for them to stay out of politics, because you are talking | :15:36. | :15:41. | |
about deeply political issues. The that is why I think one of the bad | :15:41. | :15:44. | |
consequences of what has happened is that the issues the protesters | :15:44. | :15:47. | |
were trying to raise have not had the ventilation through what has | :15:47. | :15:51. | |
been going on with the church that they hoped. Whereas in the States | :15:51. | :15:56. | |
where they are "occupying Wall Street" the focus has been on the | :15:56. | :16:00. | |
bankers. Within this whole debate this week, apart from Bob Diamond | :16:00. | :16:03. | |
making an order speech tonight, we have heard nothing from the bankers. | :16:03. | :16:08. | |
We have heard about Rowan Williams, the Bishop of London, etc, so some | :16:08. | :16:13. | |
of the issues that you are hoping to highlight actually in a strange | :16:13. | :16:18. | |
way been allowed to escape. They are issues of principle, and from a | :16:18. | :16:21. | |
Christian perspective there are strong Christian issues as well, | :16:21. | :16:25. | |
but does that really mean the Church of England should have as | :16:25. | :16:29. | |
its official policy support for a Tobin Tax? Is that really what the | :16:29. | :16:35. | |
Church should be arguing for? said in my piece, I am not sure it | :16:35. | :16:40. | |
is the Church's position to start advising on these specific policies. | :16:40. | :16:44. | |
I think we are going down a dangerous path if we do that. I do | :16:44. | :16:51. | |
not know. They are damned if they do, damned if they don't. People | :16:51. | :16:54. | |
say church figures have to give leadership, but when they make a | :16:54. | :16:58. | |
specific proposal, commentary on a proposal, they are criticised for | :16:58. | :17:06. | |
entering politics. It is not their job to produce the policies. They | :17:06. | :17:13. | |
can have a view on something that is around. I thought Rowan | :17:13. | :17:17. | |
Williams... I do not want to comment on what Rowan Williams said. | :17:17. | :17:26. | |
I think perhaps you are right. But the frustration for me years, -- it | :17:26. | :17:30. | |
is that there was this argument, not to do specifically with the | :17:30. | :17:34. | |
church, but we, as a body of Christians, have not dealt with | :17:34. | :17:40. | |
this in the way that is representative, I think, of how | :17:40. | :17:43. | |
Jesus leads. I think for us there is a great opportunity where we | :17:43. | :17:50. | |
could actually come out and behave in a way that follows those | :17:50. | :17:55. | |
principles, and we are not doing that. One result of this is more | :17:55. | :17:59. | |
less the canonisation of these protesters. It irritates me to hear | :17:59. | :18:03. | |
the BBC interviewing them, calling them by their first names, because | :18:03. | :18:07. | |
they have somehow been elevated to this sacred status because now the | :18:07. | :18:12. | |
church is reaching out to them. is interesting that has happened. | :18:12. | :18:18. | |
thank you for being with us. Like a prostrate eurozone lead on the | :18:18. | :18:22. | |
phone to China's Sovereign Wealth Funds - it is happening - we are | :18:22. | :18:26. | |
not too proud to beg. So please don't go anywhere, because | :18:26. | :18:33. | |
otherwise you will miss Nancy Dell'Olio trying to figure out what | :18:33. | :18:37. | |
her motivation is. If that is not enough reason to stay tuned, think | :18:37. | :18:41. | |
of the joy and the pain, especially the pain, that you can have on our | :18:41. | :18:47. | |
Internet site. Or you can follow last on Twitter and poke fun at us | :18:47. | :18:53. | |
on the face book. Economic crises are not a disaster for everyone. | :18:53. | :18:56. | |
Greek bonds are worthless but ancient Greek mythology has never | :18:56. | :18:59. | |
been more popular, certainly with political journalists searching for | :18:59. | :19:04. | |
a metaphor. We have dusted down our copies of the Iliad and paraded are | :19:04. | :19:08. | |
long forgotten knowledge of the Trojan War, in a vain attempt to | :19:08. | :19:12. | |
shed light on the tragedy that is modern-day Greece. Who better to | :19:12. | :19:17. | |
turn to them the woman with the Midas touch, the Independent's Mary | :19:17. | :19:27. | |
:19:27. | :19:40. | ||
Ann Sieghart, with a Greek chorus, It is a tragedy of plate throwing, | :19:41. | :19:45. | |
kebab showering proportions. It makes Sophocles and Euripides look | :19:45. | :19:49. | |
like drama queens. The ancient Greeks believed that if you tried | :19:49. | :19:53. | |
to imitate the goods you would be struck down. Angela Merkel and | :19:53. | :19:57. | |
Nicolas Sarkozy, who had been displaying the hubris of here and | :19:57. | :20:01. | |
there Zeus, found themselves tumbling down the slopes of Mount | :20:01. | :20:06. | |
Olympus this week. On Tuesday, Greece dared to challenge the Euro | :20:06. | :20:09. | |
gods when the Prime Minister, George Papandreou, announced he was | :20:09. | :20:13. | |
going to hold a referendum on the bail out plan. He did not even | :20:13. | :20:17. | |
warned his own Finance Minister, let alone Angela Merkel and Sarkozy. | :20:17. | :20:22. | |
Who would have thought it, from the people who invented democracy? The | :20:23. | :20:27. | |
markets tumbled before you could say taramasalata. We invented | :20:27. | :20:37. | |
:20:37. | :20:37. | ||
catastrophe,... Now George Papandreou faces resignation, there | :20:37. | :20:41. | |
may be a government of national unity and there is unlikely to be a | :20:41. | :20:45. | |
referendum. Even so, beware of Greeks bearing euros, because there | :20:45. | :20:49. | |
is a fair chance they will turn back into the worthless drachma. As | :20:49. | :20:53. | |
the G20 leaders arrived in France, Angela Merkel and Nicolas Sarkozy | :20:53. | :20:59. | |
summoned George Papandreou for an emergency summit in Cannes. Yes, he | :20:59. | :21:05. | |
can. No, he can't. They had to ask him what he thought he was doing, | :21:05. | :21:09. | |
and to tell him he was not going to get his big fat Greek bail out | :21:09. | :21:19. | |
:21:19. | :21:20. | ||
unless he ignored his voters. TRANSLATION: We wish to continue | :21:20. | :21:22. | |
building Europe and the euro without Greek friends. We have done | :21:22. | :21:25. | |
everything we could to achieve that but there are certain number of | :21:25. | :21:29. | |
rules that are the bedrock of the solidarity pact and it is up to the | :21:29. | :21:32. | |
Greeks now to decide whether they wish to continue on this road | :21:32. | :21:38. | |
together with us, or not. Meanwhile, we in Britain are either left | :21:38. | :21:42. | |
waiting uselessly while the drama unfolds, or thrilled that we are | :21:42. | :21:46. | |
outside the eurozone. Depending on whether you are Nick Clegg or David | :21:46. | :21:51. | |
Cameron. George Osborne can lecture all he likes, but he does sound | :21:51. | :21:55. | |
like one of those men jabbering to himself on the bus. No one in the | :21:55. | :21:59. | |
eurozone is listening. It is up to the Greek people and the Greek | :21:59. | :22:02. | |
political system to decide how they make their decisions but it is | :22:02. | :22:05. | |
important for the eurozone to implement the package they agreed | :22:05. | :22:09. | |
last week. That is what I said was crucial at the time and it is what | :22:09. | :22:12. | |
they said was crucial at the time. We need to get on with it sooner | :22:12. | :22:17. | |
rather than later. The eurozone crisis is handy for the Tories | :22:17. | :22:20. | |
because they can blame our lack of growth on the Greeks who have been | :22:20. | :22:27. | |
living beyond their means. What's a Grecian urn? More than his | :22:27. | :22:34. | |
government can afford to pay him! There is a global storm in the | :22:34. | :22:37. | |
economy today and it is in our interest to help others come from | :22:37. | :22:40. | |
that global storm but we also have to keep the British economy safe. | :22:40. | :22:44. | |
We will not do that if we add to our deficit and debt and put | :22:44. | :22:49. | |
interest rates at risk. First he blamed the Labour Government, then | :22:49. | :22:52. | |
Europe, yesterday he was blaming his Cabinet colleagues for the lack | :22:52. | :22:56. | |
of growth in our economy. The truth about this Prime Minister is that | :22:56. | :23:02. | |
when things go wrong, it is never anything to do with him. Funny, we | :23:02. | :23:07. | |
remember Gordon Brown doing the same when his financial crisis hit. | :23:07. | :23:11. | |
The Shadow Chancellor, Ed Balls, his Labour's Cassandre. He thinks | :23:11. | :23:17. | |
he has perfected his own flat lining gesture. For David Cameron, | :23:17. | :23:21. | |
who cannot bear Ed Balls, he had another go at him yesterday. | :23:21. | :23:25. | |
can go on making questionable salutes, but it is time to take a | :23:25. | :23:31. | |
Primark. In Greece, the cartoonists are mocking Angela Merkel as a not | :23:31. | :23:36. | |
see. Lot of the inventors of the euro had in mind. But in Greece, | :23:36. | :23:39. | |
public servants can still retire in their fifties whereas in Britain | :23:39. | :23:46. | |
they will have to work until they are 65. Will I still work hard when | :23:46. | :23:54. | |
I am 64? The unions are going to go on strike but they will not get | :23:54. | :23:56. | |
sympathy from those in the private sector who have always retired | :23:56. | :24:03. | |
later and usually on less money. is not fair! In the City, | :24:03. | :24:06. | |
protesters have been saying the same thing but after three | :24:06. | :24:09. | |
resignations from St Paul's, the cathedral has repented over | :24:10. | :24:14. | |
evicting them. Meanwhile, the Oracle of Swansea, a high priest of | :24:14. | :24:18. | |
in decision finally came out to say that maybe capitalism was not such | :24:18. | :24:23. | |
a great thing after all. But he certainly took his time. Judging | :24:23. | :24:27. | |
the right time to say something is always difficult and I may or may | :24:27. | :24:31. | |
not have got it right but this is what I would like to say now. | :24:31. | :24:37. | |
a bit hit-and-miss, Archbishop. Take a tip from Zeus, a good bolt | :24:38. | :24:41. | |
of thunder and a whole lot of rain is the best way to get yourself | :24:41. | :24:51. | |
:24:51. | :24:53. | ||
heard. Thunderbolt and lightning, very, very frightening. | :24:53. | :24:58. | |
Joining our own little Greek chorus in the studio, Louise Cooper of | :24:58. | :25:06. | |
PGCE. Welcome to This Week. Michael, chaos and confusion in Athens has | :25:06. | :25:11. | |
had a huge ripple effect at the G20 in Cannes. Whatever happens in | :25:11. | :25:14. | |
Greece, chaos and confusion will remain for the foreseeable future. | :25:15. | :25:18. | |
Yes, but we're getting somewhere, getting to the point of considering | :25:18. | :25:23. | |
which country will leave the euro. I regard that as a step forward | :25:23. | :25:27. | |
because this will not be fixed by one trillion euros. It will not be | :25:27. | :25:31. | |
fixed by fiscal union. There were not the political union. The | :25:31. | :25:35. | |
Germans were not agree to transfer indefinite amounts of money for all | :25:35. | :25:40. | |
time. The only way it can be solved is by fewer countries in the euro. | :25:40. | :25:44. | |
At last we are taking tentative steps towards that. So it does not | :25:44. | :25:50. | |
stop with Greece? I imagine it would not stop with Greece. We all | :25:50. | :25:54. | |
know that quite a large number of countries in the euro are not | :25:54. | :25:57. | |
really capable of being in the euro. But the idea that countries should | :25:57. | :26:01. | |
leave the euro has been regarded as unthinkable. Luckily it is now | :26:01. | :26:05. | |
being thought about. I think British Government policy is in a | :26:05. | :26:08. | |
very funny place, because British Government policy is that the euro | :26:09. | :26:12. | |
should succeed. It cannot succeed because it has the wrong members. | :26:12. | :26:16. | |
British policy is that there should be fiscal union. The last thing in | :26:17. | :26:21. | |
the British national interest is a fiscal union dominated by Germany. | :26:21. | :26:26. | |
At the moment we are speaking out of the back of our heads. Louise, | :26:26. | :26:31. | |
how would the markets react and what do the markets think about | :26:31. | :26:34. | |
Greece leaving the eurozone? In a sense they are unhappy with the way | :26:34. | :26:39. | |
things are at the moment, but the possibility of contagion if Greece | :26:39. | :26:44. | |
leaves fairly terrifies them. Angela Merkel and Sarkozy should | :26:44. | :26:48. | |
have done his deal with the Greece problem 18 months ago, thrown a lot | :26:48. | :26:52. | |
of money at it, if they want to keep the euro, and contained it. | :26:52. | :26:56. | |
That clearly has not happened. Even now they are trying to do it on the | :26:56. | :26:59. | |
cheap. The bail out package last week, it is not a package because | :27:00. | :27:04. | |
we have not got detail, and it is done consistently on the cheap. Not | :27:04. | :27:10. | |
enough money is put on the table. What we have is contagion. We have | :27:10. | :27:14. | |
Italian government finding it difficult to fund their large | :27:14. | :27:19. | |
deficit. We have Italian bond yields at 6.3%, four of a creeping | :27:19. | :27:24. | |
up, despite the fact that the ECB is buying an awful lot of Italian | :27:24. | :27:30. | |
debt. This is the big fear. It is not Greece, but a Missy default of | :27:30. | :27:34. | |
Greece could do the lot of damage to the European economy and the | :27:34. | :27:39. | |
European banking industry. -- messy. The scary thing is contagion to | :27:39. | :27:46. | |
other places. I suspect if you were talking to George Papandreou, you | :27:46. | :27:50. | |
would be telling him the game is up. The only thing to say about that is | :27:50. | :27:55. | |
that he is a survivor. He probably has had it, to be frank. Conversely, | :27:55. | :27:59. | |
the gambit he made on the referendum, and Angela Merkel and | :27:59. | :28:03. | |
Sarkozy forcing him, basically telling him that if they didn't get | :28:03. | :28:06. | |
it through, they were out of the euro, that has put the point that | :28:06. | :28:10. | |
Michael has made on the table. Until then, they would not say it | :28:10. | :28:14. | |
in those terms, but it is now out there. I think that could become a | :28:14. | :28:18. | |
problem. It may be that they will not have the referendum, they get a | :28:18. | :28:21. | |
government of national unity and get the bail out package through | :28:21. | :28:24. | |
but I suspect it will not be enough and we will be back here again. I | :28:25. | :28:29. | |
was at some of the summits when the whole euro thing came into being. | :28:29. | :28:33. | |
Michael is right, it has been a political project all the way | :28:33. | :28:37. | |
through. There are countries in the euro, and the Germans know this, he | :28:37. | :28:40. | |
should never have been in the euro. They probably thought at the time, | :28:40. | :28:45. | |
some of them, this will end where we are now. Whether that means one | :28:46. | :28:49. | |
country will go out and then you have contagion and you go to a | :28:49. | :28:53. | |
smaller eurozone, do not know, but if that happens, it is not as | :28:53. | :29:00. | |
straightforward and painless as Can we park this idea of a | :29:00. | :29:04. | |
Government of national unity in Greece? I know that's the way | :29:04. | :29:08. | |
they're going to do it, that's the plan overnight, Mr Papandreou will | :29:08. | :29:11. | |
probably step down and they'll try to get another Government in. There | :29:11. | :29:14. | |
was talk about bringing back a former governor of the Bank of | :29:14. | :29:18. | |
Greece. Greek politics are more polarised than American politics | :29:18. | :29:23. | |
today. But he does seem to have moved the opposition on to his | :29:23. | :29:28. | |
territory. Not later tonight? it's changed. That's the problem. | :29:28. | :29:35. | |
Harold Wilson said a week was a long time, a an hour is in Greek | :29:35. | :29:38. | |
politics. The Greek economy is going to implode sooner or later | :29:38. | :29:41. | |
because there's no possibility that the Greek economy can recover under | :29:42. | :29:46. | |
the package that's been served up to it. The Greeks know that. That's | :29:46. | :29:49. | |
why you mentioned a referendum, that's why they're talking about | :29:49. | :29:54. | |
having a general election because they know they cannot do this, they | :29:54. | :29:57. | |
cannot possibly come round. Everyone pretends this has been | :29:57. | :30:00. | |
arrange ford the good of the Greeks, but it's to try and save the euro | :30:01. | :30:04. | |
and it won't succeed in saving Greece or the euro. Can the Greeks | :30:04. | :30:07. | |
have a real default, not the organised voluntary hair cut | :30:07. | :30:12. | |
they're supposed to be forced to be having? Can they have a proper | :30:12. | :30:18. | |
default? The New York Times had figures this week, it said it would | :30:18. | :30:21. | |
run a budget surplus next year because all the money's going on | :30:21. | :30:27. | |
interest, so could they do a real default and stay in the euro? Or | :30:27. | :30:31. | |
does a real default automatically mean you have got to leave? I think | :30:31. | :30:36. | |
it means you have to leave. You know, the problem with Greece is | :30:36. | :30:39. | |
all the solutions they're currently putting on the stable don't deal | :30:39. | :30:43. | |
with the underlying problem which is that they have too much debt. | :30:43. | :30:47. | |
They need to sell stuff, they need to sell something, whatever it is | :30:47. | :30:51. | |
that they can on with selling, they should do it and make reforms to | :30:51. | :30:55. | |
the economy. But that's not what is happening, the privatisation | :30:55. | :30:59. | |
programme is not happening and the reforms are not happening. All the | :30:59. | :31:02. | |
extra stuff Kerr concentrating on doesn't deal with the structural | :31:02. | :31:06. | |
problems with the Greek economy which is imploding. The Greek | :31:06. | :31:11. | |
economy's contracted 11% in two years. 15% in three years. Apart | :31:11. | :31:15. | |
from selling islands, they could sell exports and tourism if they | :31:15. | :31:19. | |
weren't stuck inside the euro. on holiday there. | :31:19. | :31:26. | |
Will Greece stay in or not? Alastair? If I was putting my life | :31:26. | :31:33. | |
on it, I would say they won't. are not asking for your life? | :31:33. | :31:38. | |
had to put a euro on it, I would put it on Greece not being in the | :31:38. | :31:44. | |
euro. OK. Absolutely. My money's in the same place. I'm with the boys. | :31:44. | :31:52. | |
Three that go?! You mentioned earlier that you've done a number | :31:52. | :31:56. | |
of G20s. What must the Obamas and the Chinese President and the | :31:56. | :32:03. | |
Indian Prime Minister, what must they think? There was no point in | :32:03. | :32:07. | |
being in Cannes today? There is a point. I agree with Michael. You | :32:07. | :32:12. | |
sense that things are moving. The point of them being there is to | :32:12. | :32:15. | |
apply, and there will be a lot of pressure being applied and Obama is | :32:15. | :32:20. | |
doing a bit publicly, but the other message coming out of Cannes is the | :32:20. | :32:23. | |
shifting of power from west to east. That is the other big thing | :32:23. | :32:28. | |
happening in the economy. You don't need a G20 summit to know that. | :32:28. | :32:33. | |
what these guys are meant to do at the big events is to shape a future. | :32:33. | :32:38. | |
That may be that out of a crisis b sometimes you can do that. The | :32:38. | :32:41. | |
other amazing thing is that at the last euro crisis summit where this | :32:42. | :32:47. | |
bail out deal was agreed, nobody thought, it seems to many, to | :32:47. | :32:50. | |
grille down on Papandreou as to how he was going to do this so that | :32:50. | :32:54. | |
when he announced the referendum, that's what sparked the present | :32:54. | :32:59. | |
crisis, nobody had a clue it was coming. That is because despite all | :32:59. | :33:05. | |
the talk of European unity, there's the most fantastic different of | :33:05. | :33:09. | |
political cultures among Europe and no apparent empathy or sympathy for | :33:09. | :33:13. | |
the conditions that exist in different countries. For example, | :33:13. | :33:18. | |
one culture is the German culture that you mustn't interfere with the | :33:18. | :33:24. | |
ECB or have a currency that is deboar ched and you mustn't have | :33:24. | :33:30. | |
bail outs. When they served up this package to Greece, they obviously | :33:30. | :33:36. | |
didn't give a fig as to how it would be done. No. Such a desire to | :33:36. | :33:39. | |
get something that sort of says we've solved this problem, move on | :33:39. | :33:45. | |
to the next thing that I think too often they turned a blind eye to | :33:45. | :33:50. | |
the detail. The top man of the ECB years ago was a political fix, | :33:50. | :33:53. | |
Chirac was saying he couldn't do it for eight years and the next guy | :33:53. | :34:00. | |
had to be French. This was meant to be an independent institution. | :34:00. | :34:04. | |
Brussels summit didn't come up with anything, it came up with 106 | :34:04. | :34:08. | |
billion for capitalisation of banks, at some stage finding money from | :34:08. | :34:11. | |
somewhere, clearly not enough money, it needs to be double, triple gosh | :34:12. | :34:19. | |
knows what. It came up with a lever aaged ESF, how would that be done, | :34:19. | :34:24. | |
does it need to be financial engineering and we had the hair cut | :34:24. | :34:33. | |
that lots of banks don't want to participate in. It was a deal that | :34:33. | :34:37. | |
was rubbish. Sorry, it was rubbish. What shall we be looking out for in | :34:37. | :34:43. | |
the weeks ahead? Let's assume this thing continues to rumble on and is | :34:43. | :34:48. | |
not solved this side of Christmas? I think a lot of it is not solvable, | :34:48. | :34:52. | |
to be honest. I'm quite surprised how patient financial markets are | :34:52. | :34:55. | |
willing to be. We've talked many times about credit markets, the | :34:55. | :34:59. | |
fact that the banking industry can probably survive to tend of the | :34:59. | :35:03. | |
year, but then come next year it has to start funding itself, | :35:03. | :35:10. | |
massive funding. Banks are hugely leveraged. We've seen the boss on | :35:11. | :35:15. | |
the BNP today saying I will be deleveraging my balance sheet and | :35:15. | :35:19. | |
taking assets off. Which means they won't have a base to lend? Joy they | :35:19. | :35:23. | |
won't be lending and the fear of a credit crunch come the beginning of | :35:23. | :35:26. | |
2012 will have devastating effects on the ordinary people and the | :35:26. | :35:28. | |
economic forecasts which are already coming down, is what we | :35:28. | :35:32. | |
need to worry about, the credit crunch that will happen in 2012 if | :35:33. | :35:36. | |
European politicians don't get organised. I hear the sound of | :35:36. | :35:40. | |
razor blades being pulled out in the drawing rooms of Britain. | :35:40. | :35:44. | |
Louise Cooper, thank you very much. We perked up this week with some | :35:44. | :35:50. | |
good news for the economy - not the 0.5% growth figuresry put some led | :35:50. | :35:55. | |
in Boy George's pencil - talk about poverty of low expectations. No, no, | :35:55. | :36:02. | |
the news of the average 49% pay increases for the UK's business. It | :36:03. | :36:06. | |
means they must obviously, in a marked economy, there must have | :36:06. | :36:12. | |
been a 49% increase in share prices and in turnover employment profits. | :36:12. | :36:16. | |
Obviously. That's what follows isn't it? Who knew the economy was | :36:16. | :36:21. | |
doing so nicely hey fellas. One business person was asked if he'd | :36:21. | :36:26. | |
do his job for half of his multi- million pay packet. His answer left | :36:26. | :36:31. | |
us none the wiser which gave us every reason to put motivation in | :36:31. | :36:41. | |
:36:41. | :36:51. | ||
What could possibly motivate an Italian property lawyer with an | :36:51. | :36:55. | |
undoubted love to have limelight to enter a ballroom dancing | :36:55. | :37:00. | |
competition on live national TV? What will you miss most about | :37:00. | :37:07. | |
Strictly? Let me think about it. I will miss many moments, of course. | :37:07. | :37:12. | |
Or make three Pakistani cricketers throw away their talent and their | :37:12. | :37:16. | |
reputations. And their freedom. After being found guilty of match | :37:16. | :37:20. | |
fixing and bribe taking. The wages of top business leaders | :37:20. | :37:24. | |
appearing to defy gravity in the face of our economic woes, is there | :37:24. | :37:28. | |
only money that motivates the masters of the universe? | :37:28. | :37:33. | |
Perhaps we could all take a moment to remember the life and work of a | :37:33. | :37:38. | |
TV legend whose marathon charity work puts us all to shame. A couple | :37:38. | :37:42. | |
of weeks to spend doing nothing so I thought I would spend 'em running | :37:42. | :37:46. | |
and getting some fresh air between Land's End and London. For ever | :37:46. | :37:51. | |
asked the question, now then, now then, now then, what would Sir | :37:51. | :37:59. | |
Jimmy do? We are joined by Strictly Nancy. Good Evening. | :37:59. | :38:04. | |
Good Evening to you. Tell us, what motivated you to do Strictly? Was | :38:04. | :38:10. | |
it the dancing, the entertainment or the money? Money?! Will we see | :38:10. | :38:15. | |
money?! Oh, I think you received quite a lot of money? Well... No, | :38:15. | :38:22. | |
well I think the thing is definitely. Well one thing | :38:22. | :38:25. | |
definitely, my number one motivation is what I wanted | :38:25. | :38:31. | |
probably the viewers to see that I can be quite funny, I have a good | :38:31. | :38:34. | |
sense of humour and I can laugh about myself. I think that I | :38:34. | :38:40. | |
deliver this. Maybe in ways you never thought. Absolutely. My | :38:40. | :38:44. | |
friends, people that know me, they know that I'm quite funny. Do you | :38:44. | :38:49. | |
know, Alastair? Yes, I know that, I know you're funny. Do you know | :38:49. | :38:54. | |
that? I do know that. What motivates you | :38:54. | :39:00. | |
more generally and gets you out of bed in the morning? To make a | :39:00. | :39:04. | |
difference. That sounds like a politician? Well, I mean, my | :39:04. | :39:10. | |
background comes from that and it goes quite well why we are here on | :39:10. | :39:12. | |
this programme. To make a difference. This is the reason why, | :39:12. | :39:20. | |
in one way, I don't know why, I became a so-called celebrity in | :39:20. | :39:26. | |
this country or famous, that was not my choice, I came here now ten | :39:26. | :39:35. | |
years ago. I came brought up in a football world. I've been the first | :39:35. | :39:39. | |
one declared to be the First Lady of English football. I don't know | :39:39. | :39:43. | |
what that means, I don't know if you had one before that. I tried to | :39:43. | :39:47. | |
make sense for why to be the papers never stop talking about me, | :39:47. | :39:53. | |
everything I to create a news. what motivates you? Motivated me. | :39:53. | :39:59. | |
And has it changed? Of course it changed. Always. You haven't always | :39:59. | :40:03. | |
been around saying, I'm here to make a difference? Well, make a | :40:03. | :40:08. | |
difference and at the same time... Well, OK, is this the beginning, | :40:08. | :40:13. | |
since I remember in my early days at university, probably flirting | :40:13. | :40:18. | |
make a difference. Flirting? Flirting make a difference. | :40:18. | :40:24. | |
flirt, big flirt. How do you know about it? I'm not doing too well. | :40:24. | :40:27. | |
What motivates you two bruisers? come here at this time of night. It | :40:27. | :40:33. | |
was the fact that I knew Nancy was going to be on. Right answer. | :40:33. | :40:38. | |
motivates you? To be stimulated, to be busy. To be challenged. Making a | :40:38. | :40:44. | |
difference is a fair enough motivation. I think being... I've | :40:44. | :40:48. | |
got an absolute terror of boredom, so I have to keep myself engaged. | :40:48. | :40:54. | |
So you have to be the perpetual motion machine? A little bit. | :40:54. | :41:00. | |
Having lots of different things around me to stimulate me. What | :41:00. | :41:05. | |
motivated you to go into politics and if you say to make a difference, | :41:05. | :41:10. | |
I might strangle you on live television? I think it was the most | :41:10. | :41:15. | |
fascinating thing I could do. I was right. Power? It's so dif fuse in | :41:15. | :41:19. | |
politics, you spend all your time arguing with people, I never felt | :41:19. | :41:24. | |
like power, but I did feel that we were painting on a hugely broad | :41:24. | :41:29. | |
canvas. That I found really stimulating. You and power, it's an | :41:29. | :41:33. | |
attractive thing to have? I was very close to power. | :41:34. | :41:39. | |
influenced? Yes, but funnily enough I don't miss that. I'm still very | :41:39. | :41:44. | |
interested in it. I said earlier the guys being described as the | :41:44. | :41:48. | |
most 20 powerful people in the world and they are not, nor do I | :41:48. | :41:52. | |
agree with it. You are never quite as powerful as you feel or as you | :41:52. | :41:55. | |
are being described as in the media. Do you think that money's become | :41:55. | :42:00. | |
the all conquering motivation now? Particularly for young people? | :42:00. | :42:06. | |
Unnorth Natalie, yes, especially in a society we live in today -- | :42:06. | :42:11. | |
unfortunately, yes. We see young people trying to find the short cut | :42:11. | :42:18. | |
to become quite easily famous and rich. That is quite scary. People | :42:18. | :42:24. | |
want to be you, they want to be a celebrity? Well, they want to be me, | :42:24. | :42:28. | |
they'll be good trying to be me, but I have to know what this | :42:28. | :42:33. | |
comfort means to people. It's good to be you? It's not easy to be me. | :42:33. | :42:40. | |
It's easy, Alastair? I don't know. I'm glad you brought him in. If | :42:40. | :42:44. | |
only because you embarrassed him. Let's be honest, Nancy, you've | :42:44. | :42:51. | |
always liked being notorious and in the papers. Yes, but I never like | :42:51. | :42:55. | |
it. Remember when Nancy strode up Downing Street in a red trouser | :42:55. | :43:02. | |
suit? We can remember that. Alastair that, was... Sorry, we've | :43:02. | :43:06. | |
run out of time. That image of the red trouser suit. That's your lot | :43:06. | :43:13. | |
for tonight, folks! But not for us. You can carry on talking, because | :43:13. | :43:15. | |
Annabel's pipped the Ministry of Sound to the best club in London | :43:15. | :43:20. | |
gong at the Michael Winner Dinner Awards this week and we all wanted | :43:20. | :43:27. | |
to win one of those. With Strictly Nancy gagging for a rumba with | :43:27. | :43:31. | |
Alastair b and Michael promising to show us his Robbie Savage hip | :43:31. | :43:35. | |
thrust - yes, I want to see that too - we are all on a collision | :43:35. | :43:37. | |
course with the dance floor. We leave you with a sign of things to | :43:38. | :43:41. | |
come. With Europe a busted flush the sight of President Sarkozy left | :43:41. | :43:45. |