05/08/2011 World News Today


05/08/2011

The latest national and international news, exploring the day's events from a global perspective.


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This is World News Today. Political leaders from the European

:00:09.:00:13.

Commission to the White House say, stay calm, breathe deeply - so how

:00:13.:00:23.
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did the markets react? Libya's government denies reports that one

:00:25.:00:33.

of Colonel Gaddafi's sons was killed in a NATO air strike.

:00:33.:00:36.

Enough is enough. The Senegalese rappers making a stand against

:00:36.:00:38.

their government. NASA's latest space mission blasts

:00:38.:00:42.

off from Cape Canaveral - the Juno probe starts a five year journey to

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Jupiter. And opening night at the Fringe. We

:00:45.:00:48.

meet the veterans and the young hopefuls at this year's festival in

:00:48.:00:58.
:00:58.:01:04.

It has been another 10 stay -- tense day on the world's stock

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market with more losses caused by fears about debt and stagnant

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growth. Despite better-than- expected jobs figures from the

:01:11.:01:15.

United States and an appeal from the EU to stay calm, the share

:01:15.:01:19.

sell-off continued today. President Obama attempted to reassure the

:01:19.:01:22.

markets by sounding an optimistic note, promising that things will

:01:22.:01:32.
:01:32.:01:36.

get better. Here is our Business 24 hours of turmoil on the market.

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Share prices plunged yesterday in Germany and the rest of Europe,

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affecting the Americas. The contagion spread to Asia, Japan,

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Hong Kong, Singapore, and then back to Europe. Almost three per --

:01:53.:01:57.

three trillion pounds wiped off shares worldwide. The crisis was

:01:58.:02:02.

triggered by growing fears that Italy and Spain will be unable to

:02:02.:02:12.
:02:12.:02:14.

pay off their debts. The fears were stemmed a little in July, but the

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fears of investors have risen again. I would encourage everybody to stay

:02:22.:02:28.

calm. The economic recovery is under way. It is important to

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protect that recovery from the financial turbulence.

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It might be tempting to see these falls in share prices as having

:02:37.:02:42.

little relevance to us but they directly affect the value of our

:02:42.:02:46.

pensions, and they say a good deal about the confidence of countries

:02:46.:02:53.

to invest and create jobs. And when bank's shares fall, that tells us

:02:53.:02:57.

something about their ability to borrow. And when the banks have no

:02:57.:03:06.

money they cannot lend, weakening of the economy further.

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Unemployment figures in the US turned out to be marginally less

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than feared. We are going to get through this.

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Things will get better and we will get there together.

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If the problem is the excessive indebtedness of a number of rich

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European countries, is there a solution?

:03:30.:03:34.

What this amounts to is that people will have to accept that

:03:34.:03:39.

governments will be smaller, will spend less, so there will be less

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public sector employment, less jobs in the public sector, and less

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expenditure on things like pensions and education.

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Barclays were down 17%, Royal Bank of Scotland down 20% and Lloyds

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down 24%. The Royal Bank of Scotland announced it was back in

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the red by �1.4 billion in part because of losses on its loans to

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Greece. It would be stupid not to be

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cautious and alert to the significant risks out there. But I

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think the probabilities are that the world does not turn overnight

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from a place that is slowly recovering to a place that is a

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disaster area. Commodities market falls in the

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prices of copper, lead, zinc and 10 say that we all risk being burnt in

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these markets. The latest news from Italy is that

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an emergency meeting of finance ministers is to be held. Our

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correspondent is in Rome. Silvio Berlusconi and his Finance

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Minister have just been holding a news conference at the Prime

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Minister's office. They announced the measures they plan to take as a

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result of this disastrous day on world markets, and a particularly

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bad day also for laterly because their bond rate spread has risen to

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new heights and there is a serious fear that Italy's ability to pay

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its huge mountain of debt, a heavy inheritance from the past,

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according to Silvio Berlusconi, and he also said that there had been

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international speculation against Italy. What the Government has

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decided to do is to make it a requirement of Italy's written

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constitution that every government must have a balanced budget. There

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was also an announcement about liberalisation. It is not clear

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what this will mean. And finally, there will carry out labour market

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reforms. There has been an attempt by the government to tackle the

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crisis and create greater credibility for the action plan.

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The austerity budget which initially gave a date of 2014 for

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introducing new taxes and new fiscal reforms has been brought

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forward to 2013. If this will placate the markets remains to be

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seen. Thank you very much.

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Hugo Dixon is the editor of Reuters Breakingviews and he joins me now.

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David was saying that the Italian government is trying to restore its

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credibility. I think the sort of things they are

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saying are good. This is very new news. We have not seen the details.

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Accelerating the austerity programme is one thing the markets

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have wanted. They had this programme for austerity but not

:07:03.:07:10.

until the next general election. They have brought this forward idea

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than that is positive. But we need to see the numbers and what is the

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mechanism they are using. And what about the labour reforms?

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I think that is another thing that the markets are not so impressed by

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because that will be good for Italy but it will not feed through for

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many years. I think they want the meat today. How much is tax going

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up, how much is expenditure going down? Will it happen fast enough?

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The last time they had an austerity programme, which was not really an

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austerity programme, they delayed it. Then they managed to pass it.

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I suppose that is why there is this emergency meeting of finance

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ministers. There is a real danger that Italy will default.

:08:13.:08:18.

Yes and No. I think that Italy is a rich country, and ultimately the

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Italian people have enough money to bail out their own government. It

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is too big to be bailed out by the rest of Europe because, why would

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the Germans take deeper into their own pockets? But the Italians are

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rich enough if they can be properly taxed. In terms of this finance

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ministers' meeting, this is partly to do with Italy but it is much

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more a Nicolas Sarkozy initiative, he is head of the G7. He loves to

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grandstand on the world stage. They will discuss more than just Italy.

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When they have that brought discussion, do you think that there

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are chances for radical change now? The idea about a common debt?

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I still do not think that you will get there. I personally think that

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the Germans will not be willing to do that. I doubt that even the

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French would be willing to do that. Themselves, I've they opened their

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own pockets, they would be tracked down by it. Their own credit rating,

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which is important for them, it is only there by a whisker. They could

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be downgraded, even the French. When this comes to shove, I do not

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think they would be prepared to have that sort of common European

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bond. I think they will put a lot of pressure on the Italians and the

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Spanish, which are the two monsters, to tighten their own belts. Looking

:10:06.:10:09.

at the other side of the Atlantic, the jobs figures are not as bad as

:10:09.:10:15.

some feared in the US. Is there room for stability there now?

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think so. 117,000 new jobs which sounds like a lot in one month. I

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think the problem was that all of these shenanigans in Congress over

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the last few weeks have rattled the market. Thank you very much.

:10:35.:10:37.

The Libyan government has denied reports that one of Colonel

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Gaddafi's sons has been killed in an overnight NATO air strike. It is

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the second time this year that Khamis Gaddafi has been reported

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killed. It comes as fierce clashes continue between products -- pro-

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Gaddafi forces and rebel fighters. Rebels in the west of the country

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say they are running dangerously short of ammunition which could

:10:59.:11:03.

lead to a stalemate. Despite this, rebels say they have taken new

:11:03.:11:06.

ground and had advanced from the port city of Misrata to the

:11:06.:11:15.

outskirts of Zliten. Bahrain a mother and her two young

:11:15.:11:21.

children, victims of a NATO air strike according to the regime. --

:11:21.:11:31.
:11:31.:11:36.

by the end. -- burying. In the town centre, it is quiet. It is still

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under government control. But the rebels are battling to change that.

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For two months, they have been advancing on Zliten. The furthest

:11:48.:11:53.

they have got is the suburbs. They have needed plenty of help from

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above. This is one of the waiters to airstrikes by the RAF, which has

:11:58.:12:03.

been pounding targets in and around the time, destroying some of the

:12:03.:12:09.

regime's concealed weapons. At the front line, we find this rebel

:12:09.:12:14.

Brigade resting during a lull in the fighting. His source told us

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that they cannot advance much further because they are

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dangerously low on ammunition. This amateur army is running on empty.

:12:24.:12:28.

The fighters here say they are still relying on home-made,

:12:28.:12:34.

improvised weapons. This anti-tank gun, bolted to a Pickup truck. They

:12:34.:12:40.

have captured some arms from Colonel Gaddafi's forces. They took

:12:40.:12:44.

this anti- aircraft guns about a week ago. But they sometimes run

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short on ammunition. At times they have been down to the last box of

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bullets. What can I say? Our ammunition

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could run out any time now. What I have is maybe enough for one or two

:13:02.:13:07.

days. The commander took me to a lookout

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post to get away if glimpse of Colonel Gaddafi's men. They were

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across the sand dunes about two: utters a way, visible with

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binoculars and perhaps watching us as well. -- two: utters. --

:13:28.:13:38.
:13:38.:13:40.

kilometres. The fighters say that to get there, they need bullets.

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Syrian activists say security forces have shot dead at least

:13:43.:13:47.

seven people during protests near Damascus. They say another

:13:47.:13:51.

protester was also killed in the city of Homs. Thousands are

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reported to have takena to the streets across the country on

:13:53.:13:56.

Friday demanding that the President resign. That's despite the

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continued crackdown in Hama, where state television says troops have

:13:59.:14:09.
:14:09.:14:15.

Another Friday, another protest after prayers. This one in a suburb

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of Damascus. In dozens of other places in the country, people are

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calling for they these it -- the regime to go. Then panic as

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shooting broke out. Activists said the security forces opened fire.

:14:34.:14:38.

State TV said it was gunmen shooting from rooftops and that

:14:38.:14:46.

police were among the casualties. Here, government forces appear to

:14:47.:14:52.

be consolidating their grip. State TV pictures so the City firmly

:14:52.:14:59.

under the control of government troops. Residents continue to so --

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to report shelling and shooting in areas. The authorities insist this

:15:05.:15:12.

is all the work of arm, terrorist gangs. They repeatedly so put --

:15:12.:15:17.

footage from last Sunday reportedly showing armed protesters. State to

:15:18.:15:24.

be said that 20 soldiers were killed, but activists say that

:15:24.:15:34.
:15:34.:15:38.

President a sad has lost his legitimacy to governor. We continue

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to support the Syrians and their efforts.

:15:43.:15:52.

The Americans are also what tightening economic sanctions. --

:15:52.:15:58.

already. Measures to punish the energy sector are also expected

:15:58.:16:04.

soon. More likely to get attention as a shift in position from or

:16:04.:16:14.

Russia. President Medvedev said that aside would face a difficult

:16:14.:16:19.

fate if he failed to carry out reforms. There is in no sign yet

:16:19.:16:23.

that the regime well heed it outside appeals and abandon the

:16:24.:16:31.

repression. The opposition have dismissed the proposed reforms as

:16:31.:16:41.
:16:41.:16:41.

Some of the day's other news - a Ukrainian a judge has ruled that

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the former prime minister be taken into custody. The judge accused her

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of the repeated violations of court rules, including impeding

:16:53.:17:02.

A polar bear has killed a British teenager and endured for others in

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the far north of Norway. -- endured four others. The bear was then

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killed by another member of the Nasser has launched a billion

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:17:28.:17:30.

dollar mission to Jupiter. -- NASA. It will take a Friday years to

:17:30.:17:35.

reach the planet but it is hoped that it will bring a wealth of new

:17:35.:17:45.
:17:45.:17:47.

information. -- five years. It is by far the largest planet in our

:17:47.:17:51.

solar system and fight -- scientists also believe it may have

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been the first to be formed. Knowing about its structure and

:17:56.:18:00.

composition could help explain more about other planets. I am now

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joined by the head of planetary science at the University College

:18:05.:18:13.

London. Thank you for coming in. Why is it important to send this

:18:13.:18:19.

probe? Jupiter or is a huge planet and we

:18:19.:18:26.

must understand its structure and form. The measurements are very

:18:26.:18:32.

important. We must understand how it formed. There are implications

:18:32.:18:38.

for why we are all here. It will put the Elf and other planets into

:18:38.:18:48.
:18:48.:19:00.

context. -- air. -- Earth. It has a hydrogen and helium. It has brought

:19:00.:19:07.

things in from the solar nebula when it allegedly formed.

:19:07.:19:12.

I was intrigued by the claim that the History of Our planet lies on

:19:12.:19:18.

Jupiter's. Basically that is because it

:19:18.:19:28.
:19:28.:19:32.

informed first. -- formed. If they find it accord -- a core, then that

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might be important proof. Getting the composition is just one of the

:19:42.:19:51.

jewels. Because it is so massive and has a lot of the Solar system's

:19:51.:19:57.

overall mass, there are implications as regards how other

:19:57.:20:04.

planets formed. The storms there have been going on

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for more than three centuries, they believe.

:20:08.:20:18.
:20:18.:20:20.

That is correct. Ever since Galileo was looking. We have seen the

:20:20.:20:27.

Jupiter or for a while - the Great Red Spot, what is underneath? We do

:20:27.:20:32.

not know. But this will provide underneath the clouds of Jupiter.

:20:32.:20:39.

The counter rotating zones and belts. Each moving faster than a

:20:39.:20:43.

Formula One car. Underneath that, we just do not know what is

:20:44.:20:52.

happening. As we go towards the centre we may find a liquid, sorry,

:20:52.:20:59.

a metallic hydrogen core. There is so much to find out and

:20:59.:21:06.

quite a few years to wait. If yes, five years.

:21:07.:21:12.

Thank you very much. Tension has been growing in Senegal fuelled by

:21:12.:21:17.

public anger about the rising cost of living. It has formed a protest

:21:17.:21:23.

movement against the current administration. The movement is led

:21:23.:21:27.

by two musicians and a journalist. There are encouraging young people

:21:27.:21:33.

to register to vote ahead of next year's elections. This report from

:21:33.:21:43.
:21:43.:21:47.

the car. -- Dakar. My voting card will be the solution to my

:21:47.:21:57.
:21:57.:22:01.

suffering, sank this rap collective. -- sang. Along with a journalist

:22:01.:22:06.

they have decided to create a social movement demanding change

:22:06.:22:14.

during the power cuts last January. It is a peaceful moment. A

:22:14.:22:24.
:22:24.:22:27.

political and secular. -- apolitical. We want to raise

:22:27.:22:31.

awareness so that people understand that power ultimately comes back to

:22:31.:22:37.

them. As a voter registration in meals a

:22:37.:22:43.

clause activists are encouraging more people to sign up. -- kneels

:22:43.:22:51.

its close. It seems to be walking. More youngsters are registering to

:22:51.:23:01.
:23:01.:23:03.

vote. 200 people everyday here. The movement won its first victory in

:23:03.:23:09.

June. After a day of unprecedented riots the President with De Roux

:23:09.:23:19.
:23:19.:23:20.

and attempted change to the constitution. -- withdrew. The

:23:20.:23:24.

movement has increasingly attracted the attention of the opposition.

:23:24.:23:29.

Members complain of police harassment. Some have been beaten,

:23:29.:23:35.

others are rested then released without charges.

:23:35.:23:39.

Intimidation is a lost cause because these youngsters are

:23:39.:23:46.

determined. Officials should be walking to address their concerns

:23:46.:23:50.

because their expectations are not just those of the movement but of

:23:50.:23:59.

the entire population. President Abdul I lacked is holding

:23:59.:24:07.

firm for now. He insists he will win a cup tell me. He denies that

:24:07.:24:16.

he is attempting a handover to his son. -- he insists he will win a

:24:16.:24:22.

third term. By February 2012 but the movement could be on a position

:24:22.:24:31.

to make good on its call that While the rest of the world is

:24:31.:24:34.

struggling with grow with the Edinburgh Fringe Festival gets a

:24:34.:24:44.
:24:44.:24:45.

bigger every year. -- struggling The biggest arts festival in the

:24:45.:24:54.

world. Bigger than ever. Rather daunting for a new comedian.

:24:54.:25:01.

Jessica possmac a venue is called at the wheel rim. -- Jessica

:25:01.:25:10.

possmac a venue is called the we room.

:25:10.:25:19.

I will lose thousands. You sound like my parents. It is a very hard

:25:20.:25:25.

to justify. At least not to anybody who is not a comedian. But you

:25:25.:25:32.

simply have to do it. Even the established comedians will

:25:32.:25:37.

come here to sell a new show. Especially if it is a departure

:25:37.:25:46.

from the norm. Ruby Wax is looking at the topic of mental illness.

:25:46.:25:55.

We are sort of on a platter, here! Back when Paul Daniels was just

:25:55.:26:03.

starting out the Fringe was really a fringe event. Now, three decades

:26:03.:26:12.

later, he is a devotee. I am in love with the French. It is

:26:12.:26:18.

the greatest place to be. I was chatting to Dave Cox -- Dave Gorman

:26:18.:26:28.

earlier on. Everybody is early -- everybody is here.

:26:28.:26:33.

The Edinburgh Fringe. A university come trade show come holiday camp

:26:33.:26:43.
:26:43.:27:02.

for comedians young and old. How Hello. If you have plans this

:27:02.:27:09.

weekend the weather is looking very mixed. We are expecting heavy rain

:27:09.:27:13.

tomorrow in northern England, Northern Ireland, and later on in

:27:13.:27:19.

Scotland. A fine night in between times with a low pressure waiting

:27:19.:27:28.

in the wings. It will then turn wet early in the morning. The heaviest

:27:28.:27:33.

rain will be in northern England in the afternoon. Possibly thunder

:27:33.:27:39.

also. Most of East Anglia and the South East should remain dry but it

:27:39.:27:49.
:27:49.:27:54.

will not be as warm as a today. It will not be quite as nice as today

:27:54.:28:00.

in many parts. A wet start in Northern Ireland. Some will be

:28:00.:28:05.

heavy showers. Disappointing temperatures for the time of the

:28:05.:28:12.

year. Central and southern Scotland will get wetter and wetter during

:28:12.:28:17.

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