Browse content similar to 20/02/2012. Check below for episodes and series from the same categories and more!
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A fresh bail out deal for Greece could be approved by European | :00:11. | :00:17. | |
ministers in the next few few hours. Was it a set-up? Mexican police | :00:17. | :00:21. | |
investigate the riot that killed 44 people. UN inspectors arrive in | :00:22. | :00:26. | |
Tehran, but will they get to see the nuclear sites? | :00:26. | :00:31. | |
Welcome to BBC World News. Also in this programme: | :00:31. | :00:36. | |
It helped cause the disastrous floods, how the BBC discovers | :00:36. | :00:39. | |
illegal logging continues in the Philippines. | :00:39. | :00:46. | |
How the Royal seal of approval is giving British designer a boost at | :00:46. | :00:56. | |
:00:56. | :01:01. | ||
Hello. The Greek government says it has | :01:01. | :01:04. | |
met all the requirements it needed to for the bail out package and it | :01:05. | :01:10. | |
believes a deal will be done today. Eurozone ministers are in Brussels | :01:10. | :01:13. | |
to decide whether to give the go ahead for the deal and the French | :01:13. | :01:17. | |
Finance Minister has said all elements are in place. But even if | :01:17. | :01:20. | |
this round of funding goes through there are still fears Greece will | :01:20. | :01:23. | |
eventually have to default and public anger remains very visible | :01:23. | :01:33. | |
:01:33. | :01:34. | ||
This country is sinking deeper into recession and hopes of a way out | :01:34. | :01:38. | |
are fading. But the Government is pushing on, desperate to secure the | :01:38. | :01:42. | |
country's vital bail out money which it hopes will be released at | :01:42. | :01:48. | |
a eurozone finance meeting later today. TRANSLATION: It can't wait | :01:48. | :01:51. | |
anymore. The Greek Parliament met last week and committed itself to | :01:52. | :01:57. | |
important structural reforms that are John are ongoing. The political | :01:57. | :02:01. | |
commitments are made. It can't wait any longer. In March Greece has | :02:01. | :02:05. | |
financial deadlines and is a country that could go bankrupt. | :02:05. | :02:10. | |
This is a crucial moment for Greece as it teeters towards the edge. At | :02:10. | :02:16. | |
stake is the country's 130 billion euro bail out, a 70% reduction in | :02:16. | :02:19. | |
Greece's private debt is likely. The aim is to cut the country's | :02:19. | :02:26. | |
debts to a more sustainable level, around 120% of GDP by 2020. Greece | :02:26. | :02:31. | |
maybe edging towards its 130 billion euro bail out, but the fear | :02:31. | :02:35. | |
is it won't be enough to save this country, with the recession deeper | :02:35. | :02:37. | |
here than previously thought, another injection of cash might be | :02:37. | :02:42. | |
needed to prop up this flailing economy, but for now, nobody in | :02:42. | :02:47. | |
Europe seems willing to pay. And that is the worrying prospect | :02:47. | :02:50. | |
here, that for all the pain, it won't be enough. | :02:50. | :02:59. | |
Greeks are stretched to break point. TRANSLATION: I don't see light in | :02:59. | :03:03. | |
the horizon. No matter how many loans we receive, if we don't start | :03:03. | :03:07. | |
producing something to stand on our own two two feet, we will never | :03:07. | :03:12. | |
have recovery in Greece. Even if they cut all pension, all | :03:12. | :03:16. | |
benefits from the unemployed, from everyone, the problem will not be | :03:16. | :03:23. | |
solved. It is a dead end. The worst riots in years engulfing | :03:23. | :03:28. | |
Athens as Parliament passed the austerity package. How much more | :03:28. | :03:33. | |
can people here take and will Europe feel it is time to cut this | :03:33. | :03:43. | |
Jamesy Robertson is here. We have - - Jamie Robertson is here. We have | :03:43. | :03:45. | |
had this statement saying the Greeks are making the sacrifices | :03:45. | :03:48. | |
necessary, but the technical problems are being discussed. What | :03:48. | :03:54. | |
do they mean? It is a nice phrase. It is about preferences or | :03:54. | :04:02. | |
priorities of institutal partners or member of states. It means they | :04:02. | :04:08. | |
can't come to an agreement. Are they going to get to the end by | :04:08. | :04:13. | |
the day? Greece could be close to bagging its second bail out. Greece | :04:13. | :04:16. | |
finds it hard to stick to its promises and usually the State and | :04:16. | :04:21. | |
its politicians that are blamed for not collecting more tax income. Our | :04:22. | :04:24. | |
business correspondent has been talking to a small business owner | :04:24. | :04:28. | |
who says the Greek people must take responsibility for the financial | :04:28. | :04:32. | |
mess they are in. We will soon lose count for the | :04:32. | :04:35. | |
people looking for work on the streets. This man has a family of | :04:35. | :04:42. | |
five and used to own a business employing is 14 people building | :04:42. | :04:48. | |
swimming pools. Now he does odd jobs for people for as little as | :04:48. | :04:55. | |
five euros. Many people won't pay Government tax on their bills. He | :04:55. | :05:03. | |
says there is little incentive to submit honest paper paperwork. He | :05:03. | :05:10. | |
says many citizens try to dodge tax. If they say this costs 100 euro, we | :05:10. | :05:14. | |
sometimes ask if you will not give me a receipt, we will give it to | :05:14. | :05:21. | |
you for 80 euro. The State loses taxes, loses income and this is our | :05:21. | :05:31. | |
:05:31. | :05:33. | ||
problem, but if if five million people do that, there is a problem. | :05:33. | :05:36. | |
EU Finance Ministers are are gathering in Brussels and they are | :05:36. | :05:39. | |
they are being asked to sign up to the biggest bail out yet. Each time | :05:39. | :05:44. | |
they demand that in return, Greece changes its ways. So more tax is | :05:44. | :05:50. | |
paid and collected so Athens starts to get to to grips with its debts. | :05:50. | :05:54. | |
So far, there is not much evidence on the ground that the country is | :05:54. | :06:02. | |
yet turning over a new leave. Even with another bail out deal, | :06:02. | :06:06. | |
experts are saying that getting Greece's economy to grow again will | :06:06. | :06:10. | |
be the challenge in the long-term. The focus so far was too much on | :06:10. | :06:13. | |
austerity and too little on growth and we saw the Greek economy was | :06:13. | :06:18. | |
shrinking heavily over the past two years. And it is very difficult for | :06:18. | :06:22. | |
the Greek economy to restart again and growth and I think that will be | :06:22. | :06:27. | |
a big issue for the next five or six years, but nevertheless that it | :06:27. | :06:31. | |
will there will be no intention, even if the Greek economy continue | :06:32. | :06:35. | |
to shrink, there will be no intention from the other | :06:35. | :06:40. | |
governments to get Greece go out of the euro area. | :06:40. | :06:48. | |
Japan Japan reported a hi-def sit. -- deficit. Its fuel imports went | :06:48. | :06:54. | |
up because most of its nuclear reactors were shut. That is making | :06:54. | :07:04. | |
:07:04. | :07:04. | ||
Not since records began in 1979 have Japan's imports so far | :07:05. | :07:13. | |
outstripped its exports. In January, the trade deficit was a record | :07:13. | :07:18. | |
1.475 trillion yen, that's $19 billion. That's not good news for a | :07:18. | :07:23. | |
country that relied on exports for growth. Japan was the first Asian | :07:23. | :07:28. | |
nation to grow rich by selling its goods abroad. At one time, it was | :07:28. | :07:33. | |
criticised for its surpluses, but not now. The strength of the | :07:33. | :07:36. | |
Japanese yen is making manufacturing here less profitable. | :07:36. | :07:43. | |
In the last 12 months alone, the Japanese currency has risen by 8%, | :07:43. | :07:48. | |
compared to rival South Korea's 1%. There has been pressure on imports | :07:48. | :07:53. | |
too. The nuclear crisis at Fukushima and safety fears means | :07:53. | :07:59. | |
that almost all of the country's nuclear reactors are off line. To | :07:59. | :08:03. | |
generate enough electricity to keep the lights on, Japan is turning | :08:03. | :08:08. | |
more and more to natural gas and oil and of course, in this energy | :08:08. | :08:16. | |
poor country, gas and oil oil are imported. | :08:16. | :08:23. | |
Moves by Iran to withhold oil sales to the UK and France has pushed the | :08:23. | :08:33. | |
:08:33. | :08:34. | ||
price of crude oil to a high. Crude rose over 1.5%. That was on | :08:34. | :08:39. | |
the New York exchange. EU member states agreed to stop importing | :08:39. | :08:43. | |
Iranian oil from the 1st July. The other big stories, China made a | :08:43. | :08:47. | |
move to make it easier for banks to lend. Economic growth at over 8% a | :08:47. | :08:52. | |
year has been slowing down for the last five months. By cutting back | :08:52. | :08:56. | |
on the amount that the bank needs to hold in reserve, the Central | :08:56. | :08:59. | |
Bank hopes to encourage more lending and that lifts hopefully | :08:59. | :09:04. | |
growth back towards the 10% level which is where they want it. | :09:04. | :09:08. | |
That had a positive effect particularly that China move had a | :09:08. | :09:12. | |
positive effect on the markets. I am not sure if you can see the | :09:12. | :09:16. | |
figures. There is the European markets. All are looking positive. | :09:16. | :09:20. | |
The higher oil price is a concern. People are worried about whether | :09:20. | :09:25. | |
that will have a dampening effect. The euro is getting stronger. It is | :09:25. | :09:29. | |
up nearly 133 which it hasn't been at for a highly and there is -- | :09:29. | :09:32. | |
highly and there is Brent Crude up over 1%. | :09:32. | :09:35. | |
That's the business business news. Thank you very much. Expectation of | :09:35. | :09:41. | |
a deal on the euro, perhaps. We are receiving reports from Syria | :09:41. | :09:44. | |
that army reinforcements are heading towards Homs. The | :09:44. | :09:49. | |
Associated Press has been quoting a Syrian based activist as saying | :09:49. | :09:53. | |
that three columns of troops, including tanks are moving towards | :09:53. | :10:00. | |
the the city. The Government continues to shell the Baba Amr | :10:00. | :10:04. | |
neighbourhood. In Mexico, 44 people have died in a | :10:04. | :10:09. | |
prison riot. Security officials say members of rival drugs cartels | :10:09. | :10:12. | |
confronted each other with stones and home-made weapons. An | :10:12. | :10:15. | |
investigation is underway to see if some of the prison guards colluded | :10:15. | :10:21. | |
in the fight by unlocking doors, separating two wings of the jail. | :10:21. | :10:29. | |
Once again, Latin America's jails in the spotlight for all the wrong | :10:29. | :10:34. | |
reasons. Rival gangs inside this prison in northern Mexico start add | :10:34. | :10:39. | |
fight in which dozen were killed. There is speculation there may have | :10:39. | :10:42. | |
been involvement by some of the guards as the two groups should | :10:42. | :10:46. | |
have been kept in separate wings. Again, overcrowding was a serious | :10:46. | :10:52. | |
issue. 3,000 inmates, inside a facility facility built for only | :10:52. | :10:57. | |
1500. Outside the prison gates, desperate | :10:57. | :10:59. | |
family members waited anxiously for news. | :10:59. | :11:05. | |
TRANSLATION: We want them to listen to us. There are many family | :11:06. | :11:09. | |
members here and there are many more innocent prisoners inside that | :11:09. | :11:13. | |
are injured. We need ambulances. We want the governor to listen to us, | :11:13. | :11:18. | |
but they are not listening. The authorities took back control | :11:18. | :11:23. | |
of the building by force. But as the hours passed, the number of | :11:23. | :11:28. | |
dead continued to rise. This is the second major prison | :11:28. | :11:36. | |
riot in northern Mexico in a month. It comes days after a fire in a | :11:36. | :11:43. | |
jail in Honduras. Over 350 people people were killed with many men | :11:43. | :11:47. | |
men trapped in their cells. There is no explanation as to how the | :11:47. | :11:52. | |
fire in Honduras began with a riot and electrical fault having been | :11:52. | :11:57. | |
suggested by the Government. As in Honduras, Mexico is now | :11:57. | :12:01. | |
looking hard at the way its prisons are run and the way its prisoners | :12:01. | :12:06. | |
are treated, but many victims families are very very sceptical | :12:06. | :12:16. | |
that such soul searching will You are watching BBC World News. | :12:16. | :12:20. | |
How the Kate effect is giving British designers a boost ahead of | :12:20. | :12:30. | |
:12:30. | :12:36. | ||
Now the man tipped to be the next president of China has wrapped up | :12:36. | :12:40. | |
his three day trip to Ireland, his only stop in the EU before he heads | :12:40. | :12:45. | |
to Turkey. Ruth McDonald reports. Ireland always gives a warm welcome | :12:45. | :12:50. | |
to its VIP guests, but this visit is particularly special. | :12:50. | :12:54. | |
The last time Mr Xi was in Ireland was nine years ago. He He returns | :12:54. | :13:00. | |
as one of the most important important men in the in the world. | :13:00. | :13:07. | |
There is delight in in Irish Government circles that hosting | :13:07. | :13:13. | |
China's next leader. Ireland is the only stop on | :13:13. | :13:19. | |
president's itinerary. Ireland does $10.5 billion worth of trade with | :13:19. | :13:23. | |
China each year. Both countries would like that to grow. James | :13:23. | :13:28. | |
Lynch's farm in County Clare has never had such a distinguished | :13:28. | :13:33. | |
guest. Mr Xi Was here to look at Irish farmling methods and found | :13:33. | :13:38. | |
himself being introduced to a familiar sounding calf. | :13:38. | :13:44. | |
We will be calling this calf after yourself. | :13:44. | :13:49. | |
Farms like this one are crucial to Ireland's plans to significantly | :13:49. | :13:55. | |
increase its agricultural exports in the coming years. Years China is | :13:55. | :14:00. | |
a vast market with over one billion mouths to feed. Mr Xi was keen to | :14:00. | :14:08. | |
study the Irish experience. He was very interested. He has a huge | :14:08. | :14:12. | |
interest in in agriculture, he wanted to know about the quality | :14:12. | :14:15. | |
standards in Ireland and what is associated with the production of | :14:15. | :14:24. | |
Irish food. Stress has been on the mutual | :14:24. | :14:33. | |
benefits between the countries. Mr Xi stopped off at the cliffs of | :14:34. | :14:40. | |
Mohar. Mr Xi's Irish trip will be shown on TV screens all over China, | :14:40. | :14:50. | |
:14:50. | :14:51. | ||
making investors aware of what An avalanche killed three people in | :14:51. | :14:56. | |
the North West of the United States. The deaths happened in an off | :14:56. | :15:02. | |
limits area. There have been 70 meters of snow in recent days. | :15:02. | :15:12. | |
:15:12. | :15:13. | ||
Meteorologists warned of a risk of This is BBC world news. The | :15:13. | :15:16. | |
headlines for you: The Greek Finance Minister said his country | :15:16. | :15:21. | |
has done everything necessary to receive a fresh eurozone bail out. | :15:21. | :15:26. | |
And was the Mexico prison riot that killed 44 people started | :15:26. | :15:31. | |
deliberately to allow inmates to escape? | :15:31. | :15:34. | |
Experts from the International Atomic Energy Agency have arrived | :15:34. | :15:38. | |
in Iran's capital, Tehran, hoping to get officials to agree to talk | :15:38. | :15:42. | |
about its nuclear weapons programme, something which Iran has always | :15:42. | :15:46. | |
denied. Over the weekend, western diplomats told journalists that | :15:46. | :15:53. | |
Iran appeared to be expanding an underground facility near the city | :15:53. | :16:00. | |
of Qom. Heading for Iran, inspectors making their second | :16:00. | :16:05. | |
journey to Tehran in less than a month. Looking for answers to | :16:05. | :16:08. | |
growing international concerns about Iran's nuclear programme. | :16:08. | :16:14. | |
hope to have a couple of good days in Tehran. Certainly the spirit | :16:14. | :16:18. | |
with which we are going there - importantly though we hope we can | :16:19. | :16:24. | |
have some concrete results after this trip. The highest priority | :16:24. | :16:28. | |
remains, of course, the possible military dimensions, of Iran's | :16:28. | :16:33. | |
nuclear programme. It's not clear whether they'll have access to | :16:33. | :16:36. | |
Iran's nuclear facilities. Their visit lasts just two days - hardly | :16:36. | :16:41. | |
enough time to get answers about Tehran's nuclear ambitions. The | :16:41. | :16:46. | |
visit comes amid growing tensions between Iran and the west. On | :16:46. | :16:53. | |
Sunday, Iran said it had halted oil sales to France Britain in | :16:53. | :17:00. | |
retaliation for a ban on Iranian oil, which begins in July. The US | :17:00. | :17:05. | |
has imposed financial sanctions on Iran. Israel suggested it may | :17:05. | :17:10. | |
consider a strike against the nuclear facilities should diplomacy | :17:10. | :17:17. | |
fail. Something which America's top soldier has warned against. Iran | :17:17. | :17:21. | |
continues to insist that its nuclear programme is peaceful. This | :17:21. | :17:25. | |
was President Ahmadinejad last week, showing off the use of locally-made | :17:25. | :17:30. | |
nuclear fuel in a reactor. Despite Iran's claims, the international | :17:30. | :17:36. | |
pressure on the country shows no sign of easing. | :17:36. | :17:41. | |
An explosion has ripped through a polling station in the southern | :17:41. | :17:46. | |
Yemeny city of Aden, one day before the country holds Presidential | :17:46. | :17:49. | |
elections. The Vice-President is the only candidate in tomorrow's | :17:49. | :17:57. | |
vote after a year of protest forced President Saleh to end his 33-year- | :17:57. | :18:01. | |
old -rule. The economic crisis is ramping up social tensions in | :18:01. | :18:08. | |
Greece, far beyond the discord over austerity cuts. The country is | :18:08. | :18:16. | |
often a first port of call for illegal migrants. Now many are | :18:16. | :18:21. | |
caught up in a cycle of poverty which is impossible to escape. Paul | :18:22. | :18:30. | |
Mason travelled to Patras. In the port of Patras you can still | :18:30. | :18:33. | |
find some Greeks with spare change, but away from the music, the cafes | :18:33. | :18:39. | |
and the shoppers, hides a much darker side to the Greek economic | :18:39. | :18:47. | |
nightmare. These young men are illegal migrants waiting to board | :18:47. | :18:52. | |
trucks and hitch a ferry ride to Italy. Most will fail and go back | :18:52. | :18:56. | |
at dawn to sleep in this disused factory which has become hope. | :18:56. | :19:02. | |
Abdul, from Darfur, told me he's been here too long. In the factory | :19:02. | :19:06. | |
here I have six months and three months in a train there. You have | :19:06. | :19:14. | |
lived here six months. We came here I have sipbgs months | :19:14. | :19:18. | |
here. The men are from Sudan, Afghanistan and North Africa, but | :19:18. | :19:21. | |
have been forced together by an economic crisis which has made it | :19:21. | :19:27. | |
harder to get out of Greece than it was to get in. Wassim, from Kabul | :19:27. | :19:31. | |
says he has a wife and children in London. He has been deported to | :19:32. | :19:35. | |
Afghanistan and makes it back to here. The story he tells of Greece | :19:35. | :19:41. | |
is not a happy one. This is not Europe. It doesn't feel like | :19:41. | :19:46. | |
Europe? No. I used to live in London. This does not look like | :19:46. | :19:50. | |
Europe. The police can hit you. The people cannot swear at you for no | :19:50. | :19:58. | |
reason. The people hit us, like animal. The men curl around me, | :19:58. | :20:01. | |
showing wounds where they have clashed with the police and far- | :20:01. | :20:04. | |
right groups in the town. All they want to do is leave, but the crisis | :20:04. | :20:10. | |
has meant less trucks and less charity from local people. Local | :20:10. | :20:16. | |
NGOs say the situation is not going to improve any time soon. | :20:16. | :20:21. | |
racism is getting worse. The media, they are also, they support this | :20:21. | :20:29. | |
racism because they want to show that the immigrants are the enemies | :20:29. | :20:32. | |
and they are responsible for the situation, so as to hide, in my | :20:32. | :20:36. | |
opinion, the real responsibilities. The economic crisis is ramping up | :20:37. | :20:41. | |
the social tensions in Greece. Attacks on migrants are on the | :20:41. | :20:45. | |
increase. The Greek Government has better things to do than to record | :20:45. | :20:50. | |
them. The irony is few of these men want to be here, but geography and | :20:50. | :20:54. | |
fate have trapped them in the very country least equipped or minded to | :20:54. | :21:02. | |
cope with them. It's now two months since the | :21:02. | :21:05. | |
devastating floods that hit the southern Philippines, killing more | :21:05. | :21:10. | |
than 1,000 people. Officials admit that deforestation was the cause of | :21:10. | :21:12. | |
much of the destruction. The Government says it is trying to | :21:13. | :21:17. | |
stop any more trees being cut down. The BBC has seen evidence that | :21:17. | :21:26. | |
Our correspondent reports from Iligan, one of the worst affected | :21:26. | :21:29. | |
areas. The logs that destroyed Iligan are now being used to | :21:30. | :21:34. | |
rebuild it. Two months after torrential rains | :21:34. | :21:38. | |
brought devastation to this part of the pill feens, there's a grow -- | :21:38. | :21:44. | |
Philippines, there's a growing realisation that it was not the | :21:44. | :21:51. | |
waters but the logs it brought with it which were the biggest killer. | :21:51. | :21:56. | |
The risk would be reduced by more than half. So if we have something | :21:56. | :22:01. | |
like 750 people who died, maybe half of those lives were caused by | :22:01. | :22:08. | |
the logs. In total more than 1,000 people | :22:08. | :22:14. | |
died when Tropical Storm Washi hit. Rivers burst their banks. Cut trees | :22:14. | :22:19. | |
smashed into people's homes. The President has banned all logging. | :22:19. | :22:24. | |
It depends where you live as to how strict it is enforced. Down here, | :22:24. | :22:29. | |
which bore the brunt of the destruction, it is almost impose | :22:29. | :22:34. | |
tobl get a permit to log. Up stream, where most of the logs came from, | :22:34. | :22:40. | |
it is much easier. With an armed escort, we travelled up river, into | :22:41. | :22:45. | |
the mountains. Rebel groups operate here. Central Government's ability | :22:45. | :22:50. | |
to enforce the law is weak. At a local saw mill, villagers spoke | :22:50. | :22:57. | |
openly about their dependence on illegal logging. This woman says | :22:57. | :23:02. | |
she sees big companies logging any way. What her community is doing is | :23:02. | :23:07. | |
only small scale. He says he's got to support his | :23:07. | :23:13. | |
family. He's got no other choice, but to keep cutting down trees. So | :23:13. | :23:18. | |
the logging continues. This consignment was only caught because | :23:18. | :23:24. | |
the vehicle was involved in a traffic accident. Inside mahogany, | :23:24. | :23:30. | |
worth nearly $10,000. The police say they are doing their best. For | :23:30. | :23:36. | |
local campaigners, that's still not good enough. You know, in the | :23:36. | :23:41. | |
Philippines we have good policies. We have obviously good policies but | :23:41. | :23:45. | |
the problem is the implementation. Those who lost their homes in the | :23:45. | :23:50. | |
floods now live in temporary camps. For them, live changed overnight. | :23:50. | :23:59. | |
Stopping the loggers is going to take much longer. | :23:59. | :24:04. | |
Now, the fashion industry is worth more than $30 billion to the UK | :24:04. | :24:08. | |
economy. This week, all the experts are in town for London Fashion Week. | :24:08. | :24:12. | |
At a time when things are looking up for the British retail sector, | :24:12. | :24:16. | |
designers say the best boost for the industry has been, yes, the | :24:16. | :24:22. | |
Duchess of Cambridge. Fashion fit for a princess, or at | :24:22. | :24:27. | |
least a Duchess. This is British designer's Alice Temperley's latest | :24:27. | :24:31. | |
collection. It is one of the biggest shows, not least because of | :24:31. | :24:37. | |
who wears the brand. Both the Duchess of Cambridge and her sister | :24:37. | :24:40. | |
have worn Temperley on public occasions. | :24:40. | :24:46. | |
In the hours after she wears either high street or a British designer | :24:46. | :24:50. | |
Internet searches and sales spike by as much as 500%. She has won | :24:50. | :24:56. | |
wonders. She looks fantastic. She's a lovely girl. She supports British | :24:56. | :25:01. | |
fashion by wearing just British fashion. She's a fantastic | :25:01. | :25:05. | |
ambassador. She has breathed a new life back into the Royal Family. | :25:06. | :25:10. | |
She's fantastic. In just a decade Alice Temperley's business has | :25:10. | :25:15. | |
grown to sell in 37 countries. With a workshop in London and branding | :25:15. | :25:24. | |
itself as quintessentially British. The first ever study by the British | :25:24. | :25:28. | |
Fashion Council estimated the industry was worth �21 billion to | :25:28. | :25:36. | |
the UK economy. It provided 800,000 jobs and was responsible for 1.7% | :25:36. | :25:41. | |
of the GDP. That is more than the car industry. There's a lot going | :25:41. | :25:45. | |
on for Britain. There is Kate Middleton, there's Downton Abbey | :25:45. | :25:49. | |
and there are the Olympics. It's the perfect storm for the brand. | :25:49. | :25:56. | |
And the made in Britain brand has a lot of cache globally. It is not | :25:56. | :26:00. | |
just Temperley which is benefits. These are the opulent surroundings | :26:00. | :26:07. | |
of the Mulberry fashion show, and luxury brands like this are getting | :26:07. | :26:10. | |
front seats into worldwide expansion. By 2015 Asia will | :26:10. | :26:20. | |
account for 20% of all luxury good sales. Mulberry and Burberry a are | :26:20. | :26:24. | |
well known labels over there. According to the designer, London | :26:24. | :26:29. | |
is making business sense too. we've managed to do as the fashion | :26:29. | :26:33. | |
capital in recent years. We have proved to the world that we have an | :26:34. | :26:38. | |
amazing wealth of creative talent who can be commercially viable. | :26:38. | :26:42. | |
Because of this, designers like Stella McCartney return to London | :26:42. | :26:46. | |
for the first time in a decade to show. The challenge will be to keep | :26:46. | :26:50. | |
her here. Much more of course at the website | :26:50. | :26:54. |