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(generated from captions) So actually, (Both laugh) even if I had the opportunity. it wouldn't happen It would never be happening. meeting you. Tracey Emin, a great pleasure Thanks. It was nice. Thank you. Thanks for being with us. (Mighty Real) ? SYLVESTER: You Make Me Feel Closed Captions by CSI

Tonight - European

enlightenment. We acknowledge

the steps Europe has taken and

how painful they have been, but

more needs to be done and it

needs to be done fast. I think

it's starting a get a bit

embarrassing that we've got a

Prime Minister and a Treasurer

lecturing Europe over not

living within their means. This Program Is Captioned


Good evening. Welcome to

'Lateline'. I'm Ali Moore.

Three years ago at the height

of the global financial crisis, Britain's Chancellor of the

Exchequer, Alistair Darling,

was forced to make the call to

stand behind the country's

biggest banks. He'd been told

by the Chairman of the Royal

Bank of Scotland that it was

about to run out of money. What

I asked him, how long can the

banks stay open for? And he

said well maybe three to four

hours. Now that was a shock.

This was one of the largest

banks in the world. What I knew

was if the Royal Bank had shut

its doors the cash machines had

done off the money transmission

systems had gone it wouldn't be

long, it'd be a matter of an

hour or two, before people

turned their attention to the

next bank then the next bank.

As we saw with Lehmanns these

things can suddenly get a

momentum and a pace of their

own, and it is no exaggeration

to say that the world's banking system came within a few hours

of collapse. It was the first

of many decisions Alistair

Darling would face, all the

while in an increasingly

fractious relationship with his

Prime Minister Gordon Brown who

fundamentally disagreed with

his Chancellor's assessment.

Severity of the crisis. Now

Alistair Darling is watching

Europe grapple with its own indebtedness. He joins us

tonight from London. Hopes fade

as a death toll mounts the

chances dim for more survivors

from Turkey's devastating

earthquake. Muammar Gaddafi secretly buried in the desert

as Libya's rebel fighters are

accused of a brutal massacre.

And Tunisia's moderate Islamist

Party claims victory in the

country's first free election.

Australia will extinguish trade

tariffs for poor countries in

what the Prime Minister's

describing as a challenge to

other nations to lower their trade barriers. Julia Gillard

made the announcement in a

Commonwealth Heads of speech tonight to a

Government business forum in Perth. Earlier today, she

issued a stern warning to

European leaders to get their

house in order. Political

correspondent Tom Iggulden has

more. Making the most of her

time in Perth. CHOGM's drawing

the spotlight away from

domestic affairs, and on to

global economics. There's

something there to have a look

at? The Prime Minister's been

brushing up on international

finance. Today she spoke to a

CHOGM business forum about her

concerns for Europe. All of us

as Commonwealth member nations

stand to suffer if the correct

response is not forthcoming.

Next week, European leaders

will gather for a crucial G20

meeting to determine how to

deal with the mounting Eurozone financial crisis. Julia

Gillard's written to the

meeting's host, French

President Nicolas Sarkozy. So

the focus needs to be on

European leaders coming

together ending the days of

muddling through and coming out

with a credible plan for

action. I think it's starting

to get a bit embarrassing. The

opposition says the

government's got no right to

haven't got the credibility to lecture European leaders. They

put a point of view

internationally. And they've

got every reason to try and

look after their own backyard.

Tony Abbott's trying to keep

attention on domestic matters,

joining racehorse trainer Gai

Waterhouse for a pre-Melbourne

Cup run-through. I think Schiavone --

she is a real two milers right

down to her knickers. A new

poll showed carbon tax support

sliding lower. Out in cities

an suburbs an towns of our

country this is a toxic

tax. Back in Perth there was no

mention of that at the CHOGM

business forum. Attention

centred on the economists who

predicted the 2008 global

financial crisis. There is a

significant probability there

will be another recession in

most advanced economies. He

echoed the Prime Minister's

warning to European leaders

about the consequences if they

fail to bring order to their

financial system. The recession

will be severe in advance

economies and then the

collateral damage even to

emerging markets could be

significant. Kevin Rudd told

the meeting Australia was in

good shape to deal with another

global recession. In midst of

continuing global volatility

that the Australian economy

continues to demonstrate

resilience. The Reserve Bank

underlined that assessment

today with the Deputy Governor

suggesting there was plenty of

room for it to stimulate the

economy. The downward revisions

to the recent estimates for

inflation and the softer global

outlook have made the outlook

for inflation less concerning

than it was and it provides

scope for monetary policy to be

supportive of economic activity

if needed. And it could be

needed if those dire

predictions about Europe come

to pass. Australia's export-led

economy would be particularly

vulnerable, if further

uncertainty shook the

foundations of global trade.

Tonight's announcement that the

government will lower tariffs

to Australia's poorest trading

partners is also a call to rich

countries for global economic


Fraser says the Federal Former Prime Minister Malcolm

Government must put more

pressure on Sri Lanka to

address war crimes allegations.

Mr Fraser made the comments

after 'Lateline' revealed last

night that a 63-year-old Sydney

man has filed three war crimes

charges against the Sri Lankan

President Mahinda Rajapakse.

However, today, the federal Attorney-General Robert

McClelland used his

discretionary powers to kill

off the charges. When he was

Prime Minister, Malcolm Fraser

used CHOGM to push for

Rhodesia's independence as

Zimbabwe. If I single out

Robert Mugabe for a

particularly warm welcome it's

because his presence here is a tangible reminder of the

effectiveness of the modern Commonwealth. Some things

don't work out as planned. But

Mr Fraser still believes the

Commonwealth forum can and must

be used for change. People

forget that the time for over

10 years Mugabe governed

reasonably and it was only

after that that there has been

a steady and terrible decline

with atrocities and brutality

and thuggery taking over. So

the Commonwealth has, in the

past, done substantial things

and it can do it again. Last

night, 63-year-old Sydney man

Jegar Waran told 'Lateline'

he'd filed war crimes charges

against Sri Lankan Mahinda

Rajapakse as head of the armed

forces during the civil war

which ended in 2009. Mr Waran

was working as a volunteer in

Tamil held areas and says Sri Lankan armed forces deliberately attacked clearly

marked civilian infrastructure

such as hospitals. Patients were killed and patients who

were in the hospital were

killed and there were other

patients waiting for treatment,

they were killed. And there was a medical store where they kept

the medicines. Those were

destroyed. Scattered all over

the place you can see.

Ambulances was destroyed. So I

have seen that

personally. Today the federal

Attorney-General Robert

McClelland refused to give the

necessary consent to allow the

charges to proceed. A spokesman

said Mr Rajasthan Royals has

diplomatic immunity and

proceeding would be in breach

of domestic law and Australia's obligations under international

law. The Sri Lankan High

Commissioner to Australia

declined 'Lateline's request

for an interview but told 7.30

last week when he was accused

of war crimes the allegations

are completely without

substance. I would

categorically say it is not the

learning of Sri Lankan military

to fire at a hospital. That has

never happened in our

military. He says by defeating

the Tamil Tigers or LTTE, the

Sri Lankan military in fact

saved Tamil civilians. My most

important achievement in the military was saving these

civilians who were under the

clutches of terrorists. So

there is no base logic to

target civilians. I reject

that. In April this year, a

United Nations panel of experts

appointed by Ban Ki Moon found

credible reports that both

government forces and Tamil

rebels committed war crimes

towards the end of the civil

war. The government of Mahinda

Rajapakse dismissed the report

but the Canadian Prime Minister

Stephen Harper says he will

boycott CHOGM in Sri Lanka in

2013 if the country doesn't

address human rights issues. A position Malcolm Fraser believes Australia should emulate. I do believe there

needs to be a fuller and better

inquiry into actions of the

government and of the Tamils

because the reports that have

come out from not only the UN Human Rights Commission but

also from the International

Crisis Group suggests that

there've been major atrocities

by both sides in this conflict. The Australian

Government has also called on the Sri Lankan government to

address the issues raised in

the report. We have called

consistently for Sri Lanka to

address the reports of human

rights violations, particularly

the reports from the end stages

of the conflict in Sri Lanka.

And we will continue to do

that. We will continue to call

on Sri Lanka to address those

claims of human rights

violations. Malcolm Fraser

says stronger action needs to

be taken but doesn't think

suspending Sri Lanka from the Commonwealth is the

answer. Under current

circumstances, holding the Commonwealth Heads of

Government meeting in Sri Lanka

in two years' time is quite

inappropriate. I wouldn't rub

Sri Lanka out. I'd say postpone

it if other business has to be

cleared up first. And we might

need more time to do that. So

let's tentatively write Sri

Lanka in for say two years

further on. Allocate 2013 to

some other country willing to host the conference. And

there'd be a number who would.

The former Liberal Prime

Minister is attending CHOGM in

Perth and believes the Federal

Government has failed to take a

strong enough stance against

alleged human rights abuses on

both sides of the conflict in

Sri Lanka. To this point I

think we've got one leg each

side of a barbed wire fence.

That's a rather uncomfortable

position to be in you've ever

tried it. CHOGM officially begins on Friday.

The Opposition Leader Tony

Abbott has told a clubs rally

in Western Sydney tonight that

he will rescind any mandatory

pre-commitment laws brought in

by the Labor Government to

reduce problem gambling. Mr

Abbott told the rally the

problem gambling is an

individual issue which can be

doubt with by counselling. When

asked if he'd repeal any pre-commitment laws brought in

by the Labor Government to

limit poker machine spending he

had this to say. When this

legislation comes before the

Parliament, I predict that we

will oppose it. And if this

legislation is passed by the

Parliament, and if we then

subsequently form a government,

I predict we will rescind it. That's what I predict. (Applause) Labor MP

Laurie Ferguson was booed by

the crowd for talking about the

need to help problem gamblers. As European leaders prepare

to meet in an attempt to find a

solution to the Eurozone debt crisis, the British Government

is facing growing pressure from

euro sceptics among its ranks.

Yesterday, the Parliament

rejected a bid for a referendum

on leaving the European Union,

but dozens of Conservative MPs

defied their leader David

Cameron by voting for the

motion. The Labour party has

described the vote as a

humiliation for the Prime Minister. Philip Williams


Outside the Parliament,

supporters of an EU free

Britain were singing and

signalling encouragement to all

inside who share their view

that voters should be given a

choice, to stay, to leave or to

renegotiate. If Britain's

future as an independent

country is not a proper matter

for a referendum, then I have

absolutely no idea what is. One

after the other, mm from the

Prime Minister's own party

stood in defiance of their

leader and demanded voters not

parliamentarians decide the

nation's future with or without

Europe. A burning question

demanded an incendiary answer. When your neighbour's

house is on fire, your first

impulse should be to help them

to put out the flames, not

least to stop the flames

reaching your own house. The

Prime Minister did try and talk

the rebels down, saying he too

wanted reforms. But what and

when went unanswered. And the

opposition smelt mood. We see

the rerun of the old movie, an out-of-touch Tory Party tearing

it sef apart over Europe. The

ayes to the right, 111. The

noes to the left, 483. The

result of the vote was never in

doubt but scale of the

rebellion is a cheer snub to a

leader deeply embroiled in

efforts to rescue the Eurozone.

With a vital meeting on

Wednesday, his European

counterparts now know at least

a quarter of his own party, not

the English Channel between the

UK and the continent, dredged

wider and deeper. Across that divide, there've been many

summits to end all Eurozone

summits already. But

Wednesday's gathering is billed

as the last chance for a

definitive plan to stop the

euro rot. Governments and

markets are watching nervousness. At least Thursday

morning we'll have the big

move, considering the solution

of the European debt crisis.

I'm hopeful that it will be the

absolute clear solution.

Otherwise I will stay in debt.

The whole world, including

Australia, is demanding

effective action. The Eurozone

is on notice. A challenge

remains, though, how to forge

common purpose from 17

self-interested nations.

To discuss the European debt

crisis I was joined from London

by the former British Chancellor of the Exchequer

Alistair Darling who served in

the role between 2007 and 2010

under Prime Minister Gordon

Brown. He's just written a

record of that time called

'Back from the Brink, 1,000

days at No. 11'. Alistair

joined me a short time ago from

our London studio. Many thanks

for talking to 'Lateline'

tonight. It's very nice to join

you. You said the problem with

Europe has s always too little,

too late. Nothing happens until

it looks like the thing's about

to blow up. Wheatings we're

expecting over the next 48 hours, have we got to that

point, do you think? I think

one of the frustrations is that

the problems with Greece, the

problems with some of the other

countries in the Eurozone in

particular have been there for

all to see now for about 18

months. And I'm sorry to say

that it takes the threat of

being tipped over the precipice

to get countries to act. We

really are at a critical stage

over the next 24, 48 hours.

Unless the Eurozone comes up

with something convincing then

I fear we're going to go right

back to where we were three

years ago. Many a deadline has

been missed before, though,

hasn't it? Well, I think people

have been tolerant, they

understand that a lot of this

is quite difficult. But so much

has been built up, there's a

limit to how many times you can

march the troops to the top of

the him and then march them

back down again. I think people

are getting frustrated. The

real crisis point really is

that it's abundantly obvious

now that there is no way that

Greece can meet the austerity

program that's been imposed

upon it. It can't service its

debts, never mind repay them.

The risk is of course you get

contagion to some. Larger

economies and a lot of

attention is focusing on Italy at the moment which is one of

the world's biggest economies

and Europe would have a

terrible job trying to contain

that. So it really is urgent

that they come up with a plan

to sort out Greece, to sort out

the European banks that haven't

yet had enough capital put into

them and at the same time make

sure there is a rescue fund

that's big enough to deal with any other countries that get

into trouble. And in your

view, what should that plan

look like? I think there are

the three elements. You have to

sort out Greece, you need to

recapitalise some of the banks

in Europe, whereas we in the UK

did recapitalise our banks in

2008, I'm afraid in Europe the

same thing did not happen. And

then you need a rescue fund, if

other countries get into

trouble and it's entirely

possible that they will, but of

course, the underlying

difficulty we have in Europe is

that growth which is the one

thing you need to repay and pay

down your deficit and get your

debt down, growth has stalled.

That's a worry in the UK. It's

a worry in most other European

countries. Frankly the reason

for that is that judgment as to

how much money you can take out

of the economy by way of cuts

is just wrong and we'll pay a

very heavy price for

it. Ultimately that means more

borrowing if you have to put

more money back into the

economy? It's always a judgment

as to how fast you reduce the

deficits. The deficits rose

because in just about every

major developed country,

certainly in the Western World,

had to support their economies

to stop them recession becoming

depression. You have to get

that borrowing down, of course,

but the rate at which you do it

is critical. If you take so

much money out of the economy

from the public sector that the

private sector doesn't have the

confidence to come back in,

what do you get? You get growth

strangled and that's what's

happened here. In the UK our economy was growing at the end

of 2009-10. But it's now clear

that growth stalled about a

year ago and that's why the new

Chancellor is having to borrow

rather more than he said he was

going to borrow which is the

opposite of what he wanted to achieve. The speed at which you

get that rate of borrowing down

was one of the core areas of disagreement between yourself and the Prime Minister at the

time Gordon Brown. I want to ask you about that in a minute

but just to stay on Europe -

Nicolas Sarkozy has apparently

told David Cameron to in

essence shut up and stop

interfering S that a fair call

given that you're not part of

the Eurozone? Well, we're not

part of the Eurozone and I don't think we will be in

anything like the foreseeable

future. But of course what

happens in the Eurozone affects

rest of Europe, the UK included. What happens in

Europe affects the rest of the

world. It is one of the largest

trading blocs and economic

blocs there is in the world. It

matters to all of us. And I

think on this occasion, David

Cameron was quite right to say

to the French and to Germany,

you are the biggest economies

in the Eurozone, you do need to

sort it out. Actually I think

President Sarkozy is on the

side of those who want a great

deal more urgency 'cause I know

he is a bit frustrated at the

lack of progress in Germany but

it does affect all of us and

this is urgent in the same way

that Lehmanns which is an American bank affected

everybody in 2008, a crisis in

the Eurozone can affect

everybody if it's not sorted

out and that's the frustration. Given the

frustrations with the Eurozone,

I know that you voted with

other Labour MPs against the

move for a referendum on

Britain's membership of the EU

when that vote was put to the

House of Commons. Is now not a

time to rethink that

membership? No, it's not. And I

think that the referendum call

last night was a complete

distraction from the real

problems in Europe which is

sorting out the Eurozone. You

have to understand what went on

in the House of Commons last

night. The Conservative Party

last office nearly 14 years ago

because of splits over Europe.

What's obvious is those splits

are alive and well today. This

was a real rift within the

Conservative Party. And I think

although the population as a

whole, if you say do you want a

referendum, people will say

yes, will Britain ever love

Europe, probably not. But do we

want to thief it? No, we don't,

because nearly half our trade

is with the rest of Europe. And

I think poll after poll shows that people may want a

referendum, they may not like

the European Union, but they're

not going to vote to cut their

nose off to spite their

face. Let's go back to your

time as Chancellor of the

Exchequer and the first

financial crisis. You've said

we could've got through this,

but we didn't because there was

disagreement at the very top.

If the relationship between yourself and then Prime

Minister Gordon Brown hadn't

been so dysfunctional, how

would the outcome have been

different? Well, I think that

having stopped the banking

system from collapsing, which

we did, having stoped the

economy going into recession

then depression which we did,

had we been able then to

present a united view on how we

were going to get the deficit

down over a manageable period,

then we would've been in with a fighting chance, and remember,

if you look at the election

result in the UK in 2010, at

the beginning of 2010, people

thought the Tories would win

with a majority of a hundred.

They didn't. They actually

failed to make it. That's why

why they had to do a deal with

the Liberals. That said we lost

over 100 seats which is pretty

bad. Had we been able to

present a more coherent united

political front, then I think

we could've done a lot better

than that maybe we wouldn't

have had a majority. But at

least we'd have the moral right

if you like to have said to the

Liberals you need to talk to us

as well whereas the Liberals

were off the hook, they could

do a deal with the Tories

because we'd lost so many

streets. The disagreements were extraordinary. They did go to

the speed that you'd wind back

borrowing but they really began

I guess with the different

assessment of how severe the

crisis was. You thought it was

the worst in 60 years. Gordon

Brown thought it would be over

in six months. Was that the

start of of their

deterioration? I think that that's the first time in our

lives that we'd actually had a

serious disagreement. Because

on the banking rescue we were

absolutely at one on that. But

in the summer of 2008,

everything I saw was pointing

in one direction, and that was

the wrong direction. And that's

why I said that at that time I

thought that it was the worst

economic conditions for 60

years, and that it was going to

be more profound and long

lasting than people thought. He

took a different view from me.

I'm afraid my view was rather

optimistic. He didn't just take

a different view. In fact you

say the forces of hell were

unleashed upon you? Yeah, that

is something that was another

problem, all political parties,

I suspect in different parts of

the world from time to time

from v this problem, you can

deal with your political

opponents saying that you're

talking nonsense, when you've

got your own people briefing

newspapers and television

reporters that what the

Chancellor was saying was

complete nonsense, that's very debilitating. That's the sort

of thing that really undermined

us. And had has to be said it

wasn't just them. The Tories,

some commentators, all thought

I was being unduly pessimistic,

but you just have to deal with

that. I think just looking at

this period. There was a lot of

positives. People who read the

book have actually commented on

the fact that I go out of my

way to be positive about many

of the things that Gordon Brown

and others did. But I'm afraid

that there s a lesson here for

all political parties no matter

where they are. If you are

divided then you will pay a

heavy price for it. You really

have to try to avoid doing

that. Indeed, you talk about

fighting tooth and nail often

in the face of both overt and

covert opposition from No. 10.

From Mr Distance it seems

extraordinary, two men, one

Chancellor one the former Chancellor indeed obviously

getting access to the same

information, obviously

receiving the same briefings,

but completely unable to reach

a compromise? It was just a

fundamentally different view. I

think that Gordon Brown thought

that the downturn wasn't as

severe as I thought it was. He

thought I was being unduly

pessimistic and yes I can be

pessimistic at the time but I -

as you rightly say, two people

can get the same information

and come to very different

conclusions. I'm afraid the

conclusion I came to was that

after a long period of growth,

over 10 years of growth, the banking crisis had brought that

to a very rapid and abrupt end.

As we well know, the whole

thing is still being played out

and I'm afraid we have come way

to go yet. So he was just -

these things happen from time

to time. But as I say, there

were a lot of positives, not

least the fact that when we got

countries together at the

beginning of 2009 and they

agreed they'd do whatever it

took to get the economies going

together, Gordon deserves a lot

of credit for that. Sadly

though that international consensus has completely

collapsed now. As we can see in

Europe at the moment. Take us

back to Tuesday October 7 in

2008. You'd flown at dawn to

Luxembourg for a meeting of

finance ministers and you took

two very significant calls once

you arrived? Yes, the sort of

calls you don't really want to

take. On that morning, RBS,

which is one of the biggest

banks in the world ... That's the Royal Bank of

Scotland? That's right, yes.

Its shares had been suspended

not just once but twice by the

London Stock Exchange. Because

people realised that it was in

deep, deep trouble. And the

call I took was from its

Chairman, who said that they

were going to run out of money

and what were we going to do

about it? Now obviously we did

have a plan, because we knew

this was coming although the

end came much quicker than we

anticipated. When I asked him

how long can the bank stay open

for, and he said well maybe

three to four hours. Now that

was a shock. This was one of

the largest banks in the world.

What I knew was, if the Royal

Bank had shut its doors the

cash machines had gone off, the

money transmission systems had

gone, it wouldn't be long, a

matter of an hour or two before

people turned their attention

to the next bank then the next

bank. As we saw with Lehmanns

these things can suddenly get a

momentum and a pace of their

own, and it is no exaggeration

to say that the world's banking

system came within a few hours

of collapse. Now, I hope that

never, ever happens again to

anyone. But it was certainly a

shock to the system. Did you

feel physically ill? No, I

certainly - I suppose when the

Chairman said they could last

maybe three or four hours, I

imagined it must've been rather

like the captain of the Titanic

who when he consulted the

ship's architect when the

shippite the iceberg hand he

said how long can we stay

afloat, I think he said three

or four hours and then he said

"There are not enough lifeboats

for everybody on board." Although unlike the captain,

I'm still here. You criticise

the governor of the bank of

England Mervyn King for not

warning you of what was to come

but are you partly responsible

for that failure? You oversaw

changes to the regulatory

framework that gave authority

to the Financial Services

Authority? I'm not critical of

Mervyn King for not warning me.

I don't think many people saw

this coming. I was critical

that the Bank of England, I

think, was slow to realise the

sheer scale of the problems

when we had the rung on the comparatively small Northern

Rock Bank in the Autumn of 2007

because it took several months

before central banks realised that lending between banks was

freezing up and they needed to

put more money into the system.

As for the regulatory system

the Bank of England does always have responsibility for the financial stability of the system. It's had that since

1998. The day-to-day

supervision and regulation is

done by the Financial Services

Authority. Now, my view is that

it isn't the structure that was

the problem, it was the

individual judgments made and

I'm afraid the regulatory

system and I said this on many

occasions not just in our

country but in many, many parts

of the world failed to

understand just how dangerous

this cocktail of financial

instruments that were being

bought and sold particularly in

America was and also they

failed to understand just how interconnected the banking

system is. So I think there was a collective failure if you

like in the regulatory regime

that the Bank of England was so

off the mark in 2007 but 12

months later when it came to

the big bank rescue, it played

a very, very prominent and very

successful role in putting all that together and they deserve

a lot of credit for that. You've made it very clear that

you couldn't really write about the crisis without writing about the personal

relationships and you've also

said that there this book is

not about revenge, a question

that's been put to you often

but is there an element of "I

told you so"? No, do you know

what's interesting? I've been

doing a lot of talks about the

book over the last six or seven

weeks and a lot of political

commentators ask me about relations between me and Gordon

Brown and so on. When you talk

to members of the public they

don't mention that at all. What

they're interested this is how

on earth did the banking system

come to this and also what on

earth is going on in Europe and

crucially what will happen in

the future? There isn't an element of that. I just

thought, this was a thousand

very turbulent days. There were

lots of things going wrong. Few

things were going right at the

time. I thought others would

write their account of T I was

there. This is my account.

Many thanks for talking to

'Lateline'. Thank you very much


The Australian teenager

facing drug charges in Bali is

now in the care of the

prosecutor's office but the

normally straightforward

handover process turned into a

circus when the boy and his

family were mobbed by the

media. The ABC's Helen Brown

reports from Bali's capital

Denpasar. The first stop

signalled the rough day that

lay ahead. The 14-year-old had

to be pushed through a media

scrum for his meeting with

prosecutors handling the case.

And then again at another

office for the paperwork. He

will be taken first here, following the next process. Dealing with the crush

of you people is a difficult

thing, but that's part of the

process he, understands that.

So we understand he's about to

be relocated back to the

immigration detention facility.

He is doing fine. And this is believed to be the evidence

that's put the teenager in the

middle of Indonesia's legal

system. At the the Denpasar

District Court an official

pulls out a small bag what have

looks like cannabis. Police

allege the 14-year-old was

caught in possession of a small

amount of drugs. His case is

attracting attention. There was

the ministerial intervention

that kept him out of Kerokoban

Prison. And it seems there is

still political interest. I

don't know about some political

matter or how the relation

between the Indonesian and Australian Government dealing

but for us, we just try to

finish for the process in

Indonesia system. The legal

process is going faster than

usual but authorities say

that's because the case

involves a minor. Prosecutors

say they may hand the file over

to the court as early as

Wednesday, and there could be a

court hearing next week. I

couldn't speculate about

nationality playing a part but

certainly his age is a relevant

consideration. The boy's accommodation at the

immigration detention centre

must now seem like a refuge. There've been extraordinary

scenes of survival in eastern

Turkey's earthquake devastated towns. Rescue teams worked

through the night in the worst

hit town of Errajiss near the

Iranian border after 34 hours

trapped in the ruins of a

building a nine-year-old girl

was pulled out alive. The rescue bought a round of

applause. (Applause) An

18-year-old man was also saved

as he was carried from the site

he could be heard speaking to

those around him.

The Turkish government has

pledged more aid to thousands

of people after it was accused

of failing to help some of the most needy who have spent a

second night exposed in

freezing conditions. With

hundreds of people still

missing the official death toll

currently around 300 is

expected to rise. The body of former Libyan leader Muammar

Gaddafi has been buried. The

ceremony was carried out

overnight in an undisclosed

location to prevent it becoming

a shrine for Gaddafi loyalists

or a target for his opponents. The National Transitional

Council has also announced it

will investigate how Gaddafi

and one of his sons were killed

after footage showed they were

both alive after they were

captured. Middle East correspondent Anne Barker

reports. After lying in a

freezer on public display for

four years, the decomposing

bodies of Muammar Gaddafi, his

son and a former aide are taken

away under cover of darkness.

Just hours ago, before dawn,

they were buried in a secret

location somewhere in the

desert. Such is the sensitivity

of what happens to Gaddafi's

remains that the burial was

witnessed by only four people

who've sworn never to reveal

the grave's whereabouts. There

is a Fatwa that's been issued

by the head of the far war

council concerning the burial

place of this body. I can't see

exactly what the content of the

Fatwa is but it says that his

body should not be buried in Muslim ceremonies and should

not be buried in a known place

to avoid any sedition. The head

of the National Transitional

Council also says a committee

has been formed to investigate

the manner of Gaddafi's death.

The United Nations and human

rights groups have raised

concerns that Gaddafi may have

been executed while being held captive. I think an investigation into Gaddafi's

death is critical. It send as

message that Libyans can take

justice into their own hands

and it's not just about Gaddafi

but about all the people who

collaborate and have blood on

their hands from 42 years and

you don't want to send the mess

thaj even the local

neighbourhood spy can be

treated in this way. But it

appears it's not only Gaddafi

collaborators who may have

blood on their hands. Human

Rights Watch says it's

discovered 53 deposing bodies

at an abandoned hotel in Sirte.

The victims all had their hands

tied and had been shot. This

appears to be the execution of

53 people who were in the

custody of anti-Gaddafi forces.

We need an investigation. We

don't know all the details. But

the evidence is pointing quite

clearly in that direction.

It's this type of possible

revenge killing that concerns

officials, particularly with

the country so awash with

weapons. The National

Transitional Council has said

all the right things about

revenge and human rights. But

they can't implement those

goals on the ground because so

many various armed groups have

come into being. And it appears

that some of these armed groups

were responsible for the

executions that we found in the

Sirte hotel. The Transitional

Council says it's aware of the

potential problem and it's

proceeding carefully. We don't

have a national army in Libya.

During the tyrant's regime

there were security brigades

which were serving only the

regime. So with the regime, law

and order also fell. So there

is a void. Today this void is

being filled by the rebels. And

they are preserving security

throughout Libya. Therefore,

the handing over of their

weapons will happen gradually.

First, the official security

bodies will need to be built

up, while these groups

gradually disappear. But with

so many other pressing

challenges to deal with,

bringing anyone to account for

Gaddafi's death or the latest

massacre appears a distant prospect indeed.

The result of Sunday's

Tunisian elections is expected

to be officially announced

shortly. Provisional results

indicate that the Ennahda party

will be the largest party in

the new assembly. Ennahda has

pledged not to pursue an

Islamist state but instead

built a multiparty secular

democracy. Its main rival the

centre left PDP Party has

conceded defeat. More than 90%

of voters turned out for the

ballot, which international

observers praised as free and fair. Now to the weather.

If you want to look back at

tonight's interview with

Alistair Darling or review any

of our stories or transcripts

you can visit our web site. You

can also follow us on Twitter

and Facebook. Tony Jones will

be here tomorrow. I will see

you again on Friday. Goodnight. Closed Captions by CSI This Program Is Captioned


Good evening. Welcome to

Lateline Business I'm Ticky

Fullerton. Tonight -

shareholders flex their muscles

over the CEO's pay packet of

what could be Foster's final

AGMI He wants to get his big

money and and then go, I think.

He may not be there next year

because so many shareholders

are not very happy with

him. And Transurban seeks to

pacify its shareholders and

avoid another embarrassment

about board pay. One of

Transurban's key values is

humility. The board took last

year's vote on remuneration

very sear seriously. And Dr

Doom warns of a 50% chance of a

world recession. The shock that

could occur because of this

situation in the Eurozone could

be as large if not larger than

the collapse of Lehmann in the

fall of 2008. To the markets

where investors were mulling

over Europe's capacity to

disappoint at tomorrow's crisis


Foster's has faced anger

from shareholders at what is

expected to be its final AGM.

With institutional shareholders

backing SAB Miller's takeover

December's vote on the deal is

effectively done and dusted and

the CEO with a

multimillion-dollar long-term

performance bonus despite less

than a year in the job now

reckons beer sales have

bottomed out and are expected

to rise. A century-old company

has had what's likely to be its

final AGM and Foster's has left

a pad taste in many

shareholders' mouths. I'm

really sick to death of the way

the company has been going. We

had better-quality management,

we wouldn't get in these predicaments. Predicaments

like the expected takeover by

South African brewer SAB Miller

for $10.7 billion. I think

selling Foster's is the wrong

way to go. It might only do the

share - not only dot

shareholders miss out, the

nation misses out. But the

takeover does have wide support

from constitutional investors.

At a meeting due in early

December, 75% of all Foster's

share holders will have to vote

in favour for it to go ahead.

The Foster's Chairman is

recommending shareholders

accept SAB Miller's latest

offer. Your board believes that

this significantly improved

offer from SAB Miller is

compelling and represents the

inherent value in your great company, its brands and

people. There's also the

predicament of whether Foster's

CEO John Polars deserves a

nearly $5 million long-term

performance bonus after

spending less than a year in

the job. Shareholders voted in

favour of the incentive plan,

but not by much, 57% for and

42% against. He wants to get

his big money and then go I

think. He may not be there next

year. So many shareholders are

not very happy with him. This

upfront protection of

executives is obviously a pit

out of control. In response the Chairman claims such

protection is required in times

of ownership uncertainty to

ensure the CEO remains with the

company. In a year of

significant Mick uncertainty and substantial business

change, Foster's has maintained

a position of strong financial

health. We also improved

efficiencies and reduced costs

in fiscal 2011. We focused on

improving the efficiencies of

our breweries, reaching their

highest level of efficiency

ever recorded. But John Polars

has also revealed that beer

sales have been hit hard by

recent low consumer

confidence. The market has been

in decline for a period since

the start of 2010 and reach ed

a low at the start of this

year. He has tried to reassure

shareholders by saying beer

sales will pick up once the

current economic uncertainty

passes. Toll road operator

Transurban seems to have

learned from Sheadowns with its

shareholders over the past

three years. This year, the

board has made some changes to

the remuneration mix, which

appear to have pacified most of

the shareholders. But not all.

Emily Stewart reports. The

usual anger over executive pay

was largely missing. If you

have a question, please come forward. Last year, more than

half of Transurban's

shareholders voted against the remuneration report. Since

then, the board has made

changes to its pay scheme,

including more emphasis on

share options and longer-term

incentive payments. One of our

key values is humility. The

board took last year's vote on

remuneration very seriously. This year

shareholders were concerned

about Chief Executive Chris

Lynch taking up a non-executive

position on the Rio Tinto

board. I guess I'm being a bit parochial but I would like to

see 100% of his time devoted to

Transurban. We think the

benefits from Chris being

involved with Rio in terms of

the size of that company the

global activity of that company

in terms of the leadership

position it has in its

industry, the knowledge he

gains from that outweighs the

burden and the disadvantages of

the time spent. As far as an

investment goes, Transurban

believes its Australian toll

roads will keep attracting

traffic for through good times

and bad. We don't rely on, nor

are we materially affected by

cyclical events. These assets

are poster children for a true

defensive asset but with the

added benefit of growth

potential. But it's a

different story in the United

States, where the company's roads are expected to be hit by

the economic downturn.

Transurban's major roadway

capital belt way is three

quarters finished and already

expected returns from the project has been revised project has been revised

down. Unfortunately, external

credit conditions have

deteriorated since then.

Impacting expected project

returns. With that said,

however, the project remains

value accretive to Transurban.

After the meeting, Chairman

Lindsay Maxstead dismissed concerns about how distributions are paid

for. They come from you and my

tolls. They come from free cash

flow. They don't come from

debt. Where I think that line

of argument starts from a

number of toll road operators started their lives because of

the way in which income flows

from toll roads as you

establish your roads, where

some moneys were paid out of

borrowings but Transurban has

not been doing that for a long time and certainly will not be

doing it in the future. With

several projects expected to

come on-line soon, Transurban

is predicting another positive

year ahead. A bit of a cautious

day's trading ahead of the

European summit. For his take I

spoke to Marcus Padley from

Patersons Securities. Marcus

Padley it's a bit like last

week, really. Up on Monday,

down on Tuesday and all sectors

bar the miners down today? Yep.

The resources doing a bit

better. It's just having a bit

of consolidation. That sector

is down 25% from the top in a

market now down 15% from the

top. And something like banks

are down like 10% from the top.

Resources have been doing much

worse. That's one of the

worrying things. We're watching

Europe. Maybe we should be

watching China. Just to put