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Wednesday 26 October 2011

Verity Murphy | 19:16 UK time, Wednesday, 26 October 2011

Our Economics editor Paul Mason is in Brussels where EU leaders are holding an emergency summit aimed at tackling the eurozone debt crisis.

He will be reporting live on the programme about whether the disagreements on how to expand the EU's bailout fund for debt-ridden countries have been put aside and a deal struck, or not, and assessing what this means for all of us.

Discussing this in the studio with Jeremy will be Katinka Barysch from the Centre for European Reform, economist Megan Greene and Terry Smith CEO of Tullett Prebon.

We are also looking at the part played in this latest economic crisis by banks, and the culture and practices within them - joining us to discuss this will be Nick Leeson, the infamous trader whose unchecked risk- taking caused the collapse of Barings Bank, and John Lanchester, author of Whoops!: Why Everyone Owes Everyone and No One Can Pay.

As part of our season of reports on the rising global population we have a report by Catrin Nye on the birth-rate here in Britain and in particular the effect on healthcare services of the number of foreign-born mothers giving birth. Catrin has spent time in a maternity unit in Leicester talking to new parents and healthcare workers.

Afterwards we will be discussing the rising global population and whether it is cause for alarm with author Lionel Shriver and Dr Babatunde Osotimehin, head of the United Nations Population Fund.

Comments

  • Comment number 1.

    Chancellor Angela Merkel got a in Germanys parliament today.

  • Comment number 2.

    Excellent discussions both with Barysch et al, and then Nick Leeson - what a sight for sore eyes! I remember when he got was sentenced way back in 1995, and even read his book "Rogue Trader." Looks like we'll be going back to tighter financial regulation again.......

  • Comment number 3.

    Gosh, it's a VERY quiet night on here! Are the regulars all out celebrating Divali? i;'m with Shriver on her views of the rising population....

  • Comment number 4.

    LATE START DETERS POSTING 76 (#3)

    And I had a friend with a keen mind visit. No contest.

  • Comment number 5.

    SOLDIER CHARGED FOR BEING DEAD

    Meanwhile, in Civvy Street, after the crippling expense of 'storage unto death' of the very old, THEY CHARGE YOU FOR DYING.

    THIS IS THE AGE OF PERVERSITY.

  • Comment number 6.

    Steve-London wrote: "Chancellor Angela Merkel got a rough ride in Germanys parliament today."

    Serious stuff or theatrics?

    Is she just another well placed Wall Street NGO "muppet" along with all the rest - especially Sarkozy?

    Is it a case of save the US Libertarian OECD/EU Project at all our cost?
    At the expense of all our EU Public Sectors which generations have sunk taxes into?

    Are our assets being stripped to provide revenue for the NYC banks? Is it to be sucked out of Europe's Public Sectors via IMF/EU/ECB imposed "austerity measures" so the USA gets its $800 billion TARP funds back by the back door? Their old protection racket worked when the Soviets were a threat, but that collapsed in 1989, so they then fabricated an Islamic terror threat, except that failed too. So what function does the great US military machine now serve?

    Unlike Americans, we Europeans don't have a Constitution, or the right to bear arms, or any other way of defending our assets against a predator.

    Could we/should we look to the SCO/CIS?

    Mistress76uk wrote: i;'m with Shriver on her views of the rising population...."

    Do you understand that the Libertarian economies are about to depopulate after ageing, and that this is why we are now in such an economic mess given that in the process we also get a lot less productive and far more self-centred and less aware of what's going on (i.e child-like aka stupid)?

  • Comment number 7.

    #6 "Do you understand that the Libertarian economies are about to depopulate after ageing, and that this is why we are now in such an economic mess given that in the process we also get a lot less productive and far more self-centred and less aware of what's going on (i.e child-like aka stupid)?"

    Yup JJ I get it completely, you've told us so many times now.

    The only problem being you haven't explained what any of the general public of England can do about it!

    Now do give us the answer, please!

  • Comment number 8.

    WHO'S JJ? (#7)

    Hi Lizzy. Small slip there - post #6 is from 'browndog'.

    Nuff sed

  • Comment number 9.

    This comment was removed because the moderators found it broke the house rules. Explain.

  • Comment number 10.

    Mod. you got to be joking!

  • Comment number 11.

    Four brilliant articles by Paul Krugman:



    The others about the US, but much of it is true in Britain too.







    In particular " .... an unnamed money manager ... declared, 鈥淔inancial services are one of the last things we do in this country and do it well. Let鈥檚 embrace it.鈥

    This is deeply unfair to American workers, who are good at lots of things, and could be even better if we made adequate investments in education and infrastructure. But to the extent that America has lagged in everything except financial services, shouldn鈥檛 the question be why...?"

    In fact, in Britain and the US, the "success" of financial services is at the expense of the real economy, both because industrial and infrastructure investment is diverted into gambling, and because of an artificially high exchange rate which encourages imports.

  • Comment number 12.

    EU Meet-

    So DC is trying to cobble together a grouping of non Euro members ?

    But aren't all but two members of the EU obligated , by their accession treaties, into joining the Euro as soon as their economic conditions permit ?

    I would be interested in more details on this one Paul.

    As for the rest of it , I am sure the markets will be understanding that democracy takes time. Besides which, there is a trillion euros up for grabs. I am sure the markets will form a orderly queue to relieve such a heavy burden from euro zone taxpayer pockets.


    Population Projections-

    Congratulations to all the happy new parents. I actually mean that bit.

    But there is a question of what is sustainable , specially when a proportion of the population increase in the UK is connected indirectly or directly to our (chosen) immigration rules.

    The open border brigades dystopian ideals really need exposing for what they really .

    I also see today that the 1998 Human Rights Act , Labours flagship policy, has certainly lived up to expectations and has indeed brought home rights to Britain.

  • Comment number 13.

    France - the fly in the USA Project ointment.

    Several years ago, during a visit to France, I asked a market trader why her tins of confit were more expensive than the product on sale in the local (chain) supermarket. She said it was because they couldn't afford to sell it cheaper as the supermarket had all but driven them out of business. I looked around and suddenly French socialism in action.

    People were paying higher prices in the open (almost village) market than they did at the little supermarket down the road. It was quite a powerful eye-opener. The people shopping the open market were looking after their farmers and small producers. Socialism. The problem of course, was that the market was only open a couple of days a week so most days the locals had to shop at the supermarket. So much for market forces. But that's politicsand....business: Think Olympics.....



    barriesingleton wrote: "Hi Lizzy. Small slip there - post #6 is from 'browndog' Nuff sed"

    You keep saying that, and yet you keep saying more (of the same thing)..

    You do appear (to this reader at least) to have some difficulty or reluctance to focus upon what substantively maters. A lot of yours posts refer to imagined personal characteristics of politicians. It is not so much that they are only imagined, and can neither be affirmed nor denied here or elsewhere. but that they are not truth-functional and logically/practically irrelevant..What maters is policies, yet you write as if you are more concerned with people's internal "psychology" even though most behavioural psychologists gave up on that as "error" many decades ago. If you keep asking for correction and advice, one should surely heed it when it's given. Pop media psychologists are there just for fun. They are usually females.

    Libertarian politics (and teaching alas) does tend to attract performers who court narcissistic supply as "political" support. This is not true of all political systems I hasten to point out. See China, Iran, or even Syria. Some of their people have been very critical of "The Cult of Personality" as subversive. Those setting up their leaders as icons have often been those who have been working (wittingly or not) to subvert the system, I suggest Psychology is ignorance of what is actually going on, it is a non science as a consequence. hat is how professionals see it. I suggest you take this as helpful advice. Stop psychologising. It is unhelpful. It is a distraction from what matters. It is a language of ignorance, of superstition. It is to be studied only as a human anthropological linguistic curiosity..

    A word to the wise, when the likes of Stephen Hawking are cited as a brilliant people who think and believe this or that, most physics will be appalled as science is not like that. It is not about who thinks what, or even what people think. It is a collective enterprise about how relations in the world function. It is a collective, "socialist", practice..China is run by engineers. They are somewhat anonymous people.

    That is how engineers behave. What we see here are performers craving limelight. Why the contrast. Is it not a function of the systems?

  • Comment number 14.

    :o) Jeremy's in The Spectator

  • Comment number 15.

    to Newsnight Production Team

    An observation on last night's clip on population growth in recent years. It did well to cover some of the facts. It even put up a graph showing the change in TFR. But the images tried too hard to show a White vs Non White BALANCE. The reality is that the White TFR is very low, and is even lower in most of Europe. This is a major problem as it means something in the Libertarian system we have drives down the birth rate to a biologically UNFIT level. We don't se the consequences because of our ageing population. It is important to see that this is not a good thing. It is bad economically, it is bad genetically, it is bad in every sense of the word.

    The programme basically missed the point. This TFR issue has been a problem for nearly a century. It was why Britain began eugenics, which believe it or not was Differential Psychology and IQ testing in support of education provision. At one time (not all that long ago, just a few decades) that's all that applied psychology was - diversity testing and selection.

    If you want to have some expert advice on this problem, just get David Coleman demographer form Oxford on. For the darker picture of this, get someone like Tatu Vanhanen from Finland on, Helmuth Nyborg from Denmark or even Richard Lynn form England..

    Or you could just read some of your own bloggers over the last 4 years or so. But please, whatever you do. look at the FACTS of the matter, not the personalities. I appreciate why the media crowd loves the limelight and doesn't understand why some don't, but please try to get over some of your promotion of celebritism. Good scientists tend to avoid the limelight and those who do want to appear are probably not the best one's to do so.

  • Comment number 16.

    haha i player says 'content not available.

    14

    selling that book again?

  • Comment number 17.

    How can you tell when Newsnight has been a really cutting edge informative programme, easy, it doesn't work on the iPlayer the day after. I wanted to check out what I thought I heard Paul Mason say about any banks being part nationalised if they can't show 9% capital on their books by June 2012. Also the banks being expected to find hard capital on the private markets, perhaps an almost impossible proposition however much they inflate stock prices.

  • Comment number 18.

    This comment was removed because the moderators found it broke the house rules. Explain.

  • Comment number 19.

    well done, mod...keep him off.....

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