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(generated from captions) This morning - hundreds dead, thousands displaced as South-East Asia floods South-East Asia floods close in

on Bangkok. investigators retrieve the on

remains of 28 people killed in

a Papua New Guinea plane crash. Acting globally Acting globally the Occupy Wall Street movement targets the

Reserve Bank in Sydney. The Wallabies sweat over Kurtley Beale's hamstring ahead of

tomorrow's semifinal showdown

with the All Blacks. This Program is Captioned Live Good

morning, you're watching ABC

News 24, I'm Andrew Geoghegan, thanks for your around the nation Thailand's reassured residents reassured residents of Bangkok

the city will be safe from flooding despite high tides

this weekend. The Thai Prime Minister says flood walls will protect the capital from the worst

worst floods in decades.

Hundreds of people have died and thousands have displaced by the floods across

Thai-Cambodia and

Vietnam. Thailand is racing to

protect its provinces from

flooding. The if the water

comes I'll have to let it happen. happen. There's no way I can

block it. For me I'll move to

an upper floor. I feel sorry

areas. There are fears the for the people in lower lying

water could reach Bangkok.

Authorities there are confident the city will weather Storms

storms and high tides this weekend without a major

emergency. Nevertheless, the

military has been called in to

help. TRANSLATION: and we're also monitoring the

water level hoping it won't

rise above the wall. People

living in the city's outskirts have already been forced to

leave their inundated homes.

Thousands are now sheltering in

centres. TRANSLATION: During evacuation

the evacuation, I was so scared

and I didn't know what to do.

I prayed to the Lord, please

protect me and my family. TRANSLATION: We are TRANSLATION: We are concerned

about the people's stress

levels. We have a certain there are some psychological process of checks

problems we'll hand them over to

to the medical team. In Cambodia, massive flooding and landslides have killed nearly

250 people in two months.

but huge tracts of land Waters have begun to recede,

still submerged and villagers

are still using boats to move

around. Authorities say floods

have destroyed or damaged more

than a third of the nation's

rice crop. In Vietnam, there are more troubles

disrupted the lives of at least

230,000 people. Hundreds of 230,000 people. Hundreds of military personnel are helping with evacuations and aid workers have begun workers have begun to transport food to the isolated. Stephanie Boulet, ABC News. Airlines PNG is

investigating the cause of plane crash near Madang that investigating the cause of a

killed 28 people. The four

survivors include the two

pilots, an Australian and New

Zealander. At Madang

a makeshift morgue has been

remains. built to house the people's

remains. It is unclear they'll

have to wait for the

identification process which is

expected to sake Tom time. Liam Fox has the latest from Madang. Clear weather investigators to reach the Madang. Clear weather allowed

crash site. The airline's PNG

Dash-8 came down in wet weather

just 20 kilometres from its

destination of Madang on destination of Madang on PNG's

north coast. This woman saw it

descend as she worked in her

moments later, it crashed and garden. TRANSLATION: A few

exploded. 28 didn't survive the

explosion when it ground. Officials explosion when it hit the

painstakingly collected the

badly burnt remains. The

plane's flight data recorders were also recovered. Amazing

ly four people survived the

crash. One of them is this man

national who is recovering in believed to be a Chinese

hospital from burns to hospital from burns to his arms

and back. The three other survivors weren't hospitalised, including the Australian pilot.

He was medically evacuated to

Port Moresby this afternoon with an injured leg. Liam Fox, ABC News, Medmedev. Despite

achieving the biggest victory

of her political career to date, Julia Gillard's biggest defeat is overshadowing defeat is overshadowing any

good news of the week. The

carbon price passed the lower house on Thursday but Thursday's about turn on asylum seeker policy led to questions

about Julia Gillard's political

judgment. We're joined by

Latika Bourke in Canberra.

Good morning. Give us a sense

of what's going on scenes there with Labor.

Obviously, they're trying to find a way through so offshore processing can go ahead. What's going on it there behind the scenes? Good morning,

Andrew. Saturday morning after a sitting week, a sitting week, particularly

one when a Prime Minister has

achieved such a great achieved such a great political milestone or victory as one

like passing a carbon price, like passing a carbon

after a very after a very hard-fought battle, mind you, usually battle, mind you, usually you would make up on a Saturday

morning and see a lot of commentary praising bit of a carnage about Julia success. This morning it is a

Gillard's political judgment

because, of course, on because, of course, on Thursday

she was basically forced into a humiliating defeat on asylum seekers and had to revert to

reports in the 'Sydney Morning onshore processing. Two

Herald' this morning give some insight into exactly how Herald' this morning give us

desperate Labor became on this

issue. It has reported at one issue. It has reported at

of two cabinet meetings held Thursday, the Government of two cabinet meetings held on

seriously considered allowing a

proposal to go forward that would send asylum seekers to

Malaysia, Papua New Guinea, but also Nauru. Nauru, of is what the Opposition is what the Opposition leader, Deborah Tabart, Tony Abbott has

long been arguing for on this

issue but it is one the government, including Julia

Gillard herself, has raged

against as being ineffectual.

It is also reported at this cabinet meeting that Kevin Rudd

said it was time for Labor to

admit defeat on this issue and

return to Julia Gillard is said to have come back and knocked this

proposal on the head, saying there's basically no there's basically no way she could have retained her

political credibility after all she had said about Nauru and

criticising it as a non-viable option. Of course, her

political credibility is so

damaged from her reverse carbon

tax... Reverse carbon tax

promise, Andrew, this does give

you some insight into just how

Labor were prepared to go in challenging Tony Abbott

issue. It is, indeed,

surprising to some, you might think

think that, they might even consider Nauru, although some in the Labor Party would say that it is an option that that it is an option that would allow them to effectively

tackle Mr Abbott, because if he

said no to this he would be a

once and for all in their minds

confirmed as Mr Negative and Mr

No in knocking back a proposal

he himself supports he himself supports and calls for. In a way, is this a

victory of sorts

least faction? It's becoming less and less sufficient less and less sufficient these

days to describe Labor MPs and cabinet ministers from the

right or left because increasingly they don't follow

or favour the policies you

would notionally expect them

to. For instance, in this

example, we saw Anthony

Albanese, according these

reports in the 'Sydney Morning

Herald' from the left in NSW,

supporting this new proposal of possibly allowing asylum seekers to be sent to You also saw Kevin Rudd arguing

in favour of onshore processing

which is long argued for by the

left, but Kevin Rudd is actually from the right on this issue.

interesting to note is that in

the end this is a left policy,

although, you know, Julia

Gillard herself says that this

policy is a failure and it

doesn't work and onshore processing will simply encourage boats, that's certainly not the way those in

the left of the Labor Party see

it. They see that this simply the only compassionate Andes sent response a country

like Australia can propose and

it should be managed politics free if you can get that. It is significant that this is is significant that this is a

victory for the left and it was one in cabinet that one in cabinet that was supported by the right and they did not win and that is the power

power bloc that installed Julia

Gillard into Gillard into the prime-ministership. Are they real about that? All right. I don't think so. You only don't think so. You only have to look at the last few years. Thanks very much. Talk

again soon. Thanks a lot. A Northern Territory Supreme Court

Court Judge has called on the

Federal Government to review

laws that demand

detention for asylum seekers.

Darwin is soon to Darwin is soon to become Australia's detention capital with a new immigration detention centre being built

outside the city. Lawyers representing them in the court

say they're being pushed to

limit and Claire clients aren't

getting adequate access to justice. Human rights lawyers

are celebrating the downfall of the Federal offshore processing plans. It

brought back memories of the

research I was doing on the

acts pashed by the Bush

Administration in relation to the detainees in Guantanamo

Bay. They're not happy the

Commonwealth is clinging to its

Malaysia Solution. The moment

you sort of enter Malaysia in the way in which these the way in which these people

would enter Malaysia, the

violation of rights I don't

know where to start and where

to stop. They do not have rights. Some the existing laws. What the government needs to do is to pass laws that say mandatory

detention is no longer the law of Australia of Australia when it comes to asylum seekers. Some of the

international juice prudence in

fact points to a non-proportional sentence may

in fact amount to cruel and

unusual punishment. Lawyers say

top end detainees don't have

proper access to the legal system and pro bono cases have

stretched resources to absolute limit. They're talking about boats coming 700

a month, people, that's a lot

of boats, that's a lot of crews. I'm just saying the

system is stretched now. It

might snap. Darwin's detention population is expected to

double when a new 1500 bed

centre opens at an isolated

site at Wickham Point outside

the city. Increasing the load

on an already strained legal

system. More than 3000 people in New Zealand have now volunteered to help clean up

the oil soaked beaches along

the Bay of Plenty. The

ship Rena has been stuck on a reef near Tauranga since last week spilling tonnes of oil and several containers several containers into

Seattle. 1000 birds and other

wildlife have been killed in what officials say is the country's worst country's worst maritime

disaster. Volunteers have been

working day and night to working day and night to help

clean up the beaches, but the

Government has warned resident

to prepare for weeks possibly months of pollution. The Occupy Wall

Street movement has Street movement has arrived down under with demonstrators

to set up camp outside to set up camp outside the Reserve Bank in Sydney today. Organisers say they'll their anticorporate greed

message by staying in Martin Place indefinitely. Similar

protests are expected to take

place in capital cities across Australia from today. The movement started in New York a

month ago when Americans disillusioned by corporate greed in the post Global

Financial Crisis climate

established a sit in on Wall Street. street collective was given a reprieve with New York

officials postponing a clean up

of their sprawling campsite. I spoke earlier with our North America council con and began

by asking her whether the

authorities and the American

people are beginning to tire of

the protests. Jane Cowan. The

authorities certainly are.

There have been more scuffles today in New York City today in New York City and

around the country similar

scenes, but as for the American

people, a new poll done by time actually shows the American public tends to see this Occupy

Wall Street movement in quite a

positive light and that most

Americans, some 50% of them,

actually see it more actually see it more favourably than than they do the Tea Party Movement, which came up from the right and exerted so much influence on last year's midterm elections here. That

could be because one of the things motivating this group of

protesters is this growing gap

between rich and poor in this

country and that's something

that the average American can

see with their own eyes and

identify with. been sympathising with the sentiments expressed by these

protesters almost as if they

want to harness the energy want to harness the energy of this group, thinking it might

be able to do something similar

for liberals as the Tea Party

Movement did for conservatives

last year. You would have to say that the vagueness of the protesters' goals continues to undermine them. Even a couple

of nietsd ago here on the daft

letterman show the former

President Bill Clinton was

talking about the protesters

saying he thinks the movement

will will end up being a positive thing, but he was urging them to really get

specific and ask for something

specific saying you can't rail

against the status quote, that

that creates a vacuum and if

you don't fill that with another idea, someone else

will. It is interesting, you

say Democrats are trying to

harness this energy. I've got a Democrat in the White a Democrat in the White House and part of the problem these

protesters say is the lack protesters say is the lack of

leadership in Washington. leadership in Washington. How

does that work to benefit the

Democrats? This is what Barack

Obama seems to be having to resort to, is his number 1 problem, and

has been ubl unable to get

employment below 9%, it is

still above 9%, so his stratif I politically now trying to align

the discontent with the system

even though, as you say, he's

the one who has been at the helm for last few years. That's

Jane Cowan in Washington. A fighter jet has crashed during an

an air show in Northern China

leaving one pilot and the other missing presumed dead. Footage aired by China central

television shows sputtering and nose-diving into

a field as one of the a field as one of the pilots ejected from the ejected from the two-seater

Flying Leopard fighter bomber. The pilot suffered minor

injuries but his comrade was

trapped in the doomed plane.

Melbourne's live music

industry is being encouraged to

stay positive after the sale of

one of the city most loved

venues. Pripts of Wales hotel

in St Kilda has been sold to a company well-known for converting pubs into

restaurants and many fear it

may be the end of a may be the end of a mystical

era. In all its faded art

Decaux glory, the Prince of

Wales has stood for decades as

a bastion of live music on St Kilda's Fitzroy Street

restaurant strip. It may soon

go, the stage falls silent, the

Prince of Wales has been

purchased by a company known

for turning old pubs into high-end restaurants. There's

a lot of concern. It is very hard to keep the prince down. Music Victoria proud of the fact more people

go to live music gigs than the

AFL. The Prince of Wales has a

special energy. Bands like Cold Play and pink on becoming the

super stars today had their big chance at the Prince of

Wales. A lot changed since the band rooms early days

particularly health and safety

laws. It's still got plenty of

high-profile supporters. Prince

of Wales has been a fantastic

place for rock music and performance and

that's live music to really

keep on going in city. Back at the pub, some

patrons were nonplussed. I

don't mind what they do. It is a lovely place to be. Others weren't happy. I think it is absolutely really sad. While

many musicians and like music lovers

lovers may be angered at the

thought of losing this place as

a live music venue, the new

owners are quoted as saying

they haven't decide whether they'll close down the band

room. It isn't all over

yet. Support the prince. Talk

up the history. Stay really positive group can make a decision in

six months time and hopefully

realise it is a viable business

opportunity. When cash is king,

the prince needs to prove the prince needs to prove its worth. Jeff Waters, ABC News. Time for sport with

Tulsen Tollett. Nerves must be increasing dramatically as increasing dramatically as we

head into the weekend with the

semifinals of the World Cup.

I'm nervous, you're nervous.

Manning how the players feel.

Robbie Deans is taking a gamble

on Kurtley Beale's fitness for against the All Blacks. Today

the first semi-final heads out

as Wales and France look to

make next weekend's decider.

Beale trained for

time since he hobbled off in Sunday's win against South Africa. Beale did light

running but looked hammered by that hamstring strain. He'll

have to go again tomorrow

morning, show he's first of all had no ill effects off the had no ill effects off the back

of the work he did today and

then be able to go again and

convince himself, firstly, and us, secondly, that he's good to

go. Meanwhile, the All Blacks

injured skipper Richie McCaw trained and is expected to be fit for the game. fit for the game. Graham Henry

says his side is focused on the job at hand. I'm joined by our

reporter in Auckland for the match, Paul Kennedy. Paul

thanks for taking the time. No worries, my pleasure. You're

wearing a Black Jack get. What's going on there? I'm

sorry about that for all the Australian viewers who think tipping New Zealand for the

semifinal against Australia. I

will be wearing gold tomorrow, mate, so

mate, so don't ore worry about

that. I'm rugged up. I've that. I'm rugged up. I've got

a nice warm jacket.

weather is up and down here at

the moment. It is probably

likely to have some rain

tomorrow, but it is sunny for a tomorrow, but it is sunny for a little bit and then it rains a

pit. I think it is supposed to

be about 12 or 14 degrees

tomorrow night by the same the

time starts. The semifinal time starts. The semifinal are

at nine o'clock local time here in Auckland. explanation for me wearing

block. I have to point out

there's much nervousness, as

you alluded to on the

Australian side but more particularly

particularly on the New Zealand side of things. I want to show

you the front page of the New

Zealand herald today and that's

the one they're running with. "Yes

"Yes we can". They're trying

to make themselves believe that

it is possible to beat Australia. I'm wondering, they've taken Barack Obama's

line there. They have. I found that interesting because there's a little bit politics in trying to tip this one when you're speaking to

people in Auckland. They're willing out some numbers.

Australia hasn't won at Eden

Park since 1986. Australia hasn't won in New hasn't won in New Zealand sense

New Zealand since 2001. The statistics are damming there

for Australia. On the other

side, people are pointing out

Australia has not been beaten

by New Zealand in a World Cup

in the two encounters they've

had in semifinals in 1991 Australia won and in Australia won and in 2003

Australia won. Those are the statistics You can read into that what you will, but there's some will, but there's some more

concrete things at play here

and that's perhaps the fitness of the players, that might be

the deciding factor. Talking about fitness, talking about fitness, talking of injuries, there's been Kurtley

Beale, Richie McCaw also been

struggling for New Zealand and

the Wallabies centre Pat McCabe is playing with a shoulder

problem which he's not sure how

bad it is? No. I found bad it is? No. I found that remarkable. I watched him

obviously as must of us did in

that match against South Africa last McCaw is going to go through

and play through some pain with

that sore foot. I think he'll

be inspirational for the New Zealanders. Australia will

have players playing through

pain as well and Pat McCabe is

one of those. He looked like

his arm was about to fall off

against South Africa. I asked him yesterday at the press

conference and he said he's

feeling good, he's upped for

him. I asked him what is

actually wrong with his

shoulder. He says he doesn't

know. He's going to deal with

the pain. He's going to have scans when he scans when he gets back to Australia. I thought that was

McCabe. Let's hear from him.

I'm not 100% sure. I'm leaving

the scans until we get back to

Australia. Yeah, it's

went dead a couple of times

been once it's strapped and

braced up it is good to go. A

bit of strapping will help him

out and it is good to go.

What's the general feeling been

among the fans you've been speaking to over there speaking to over there in Auckland? Auckland? I get the feeling that New Zealand are confident.

The experts think they can win.

The fans, general supporters of the All Blacks whose Moody pends whether or

pends whether or not their team wins, they're talking up Australia and they're saying we

are very nervous we think this Australian team could pull off

an upset. That goes back to those World Cup semifinals that were lost. That's were lost. That's really

playing on their minds.

There's that cautious optimism, I

I guess, but I have to say they

talk about the

match with these two teams. I'm not sure it is a brudge

match gludge match. There's a

lot of mutual respect. The

great topic of discussion is

Robbie Deans the New Robbie Deans the New Zealander coaching the Australians at the

moment. He had a rivalry with

Graham Henry a few years ago.

Eight years ago Robbie Deans

was an assistant coach for New

Zealand. Many thought Zealand. Many thought he

should have got the top job at

the All Blacks. He didn't. He

came to Australia. There's a

bit of sentiment here that they do do like deans doons Robbie Deans and they want him to do

well. Probably not well enough to see Australia go through to

the final, though. There are a

lot of things at play and

people just can't

been a long build-up. People thought the Australian thought the Australian and New Zealand match would happen in

the final. the final. It is happening in

the semi but it has been a long

wait. The timing, nine o'clock

start time, tomorrow night, it

is going to seem like a

eternity. Perhaps for those injured players not long enough. Paul, you spoke there about the New

Deans coaching the Australian team, there's also been word

I've been hearing that New Zealanders would be happy

because if Wales got through

and Australia got through, they'd they'd still win a World Cup final. Warren GAT land, of

course is the coach of Wales. We should not ignore Wales. We should not ignore the Wales France Wales France semifinal that's

on tonight. It seems like it

is almost a curtain raiser for the Australia-New Zealand

match. It is not the. It is

for the right to go through to the finals. Wales have been

exemplary in their matches so

far. They Africa but have been faultless

since then. Warren has turned

that team around. They been at

times a bit of a laughing stock

in European and UK rugby in the

six makeses at times.

looking strong at the moment.

GAT land has done a great job.

He's a New Zealander. There's

talk in the paper after Graham

Henry make GAT land will come

back and coach the All Blacks,

not Robbie Deans. There's real barracking

barracking here for Wales. barracking here for Wales. The

French have got a lot of

respect. They're real pros in

semifinals, they've been through to some finals of course, so for being in this pressure cooker situation. Wales have

never been in a final before.

Having said all that, Wales have look sowed strong. We know the French I and they can do anything. No

one will be surprised if they

come out and blow Wales apart.

The Wales form looks strong. In the last probably from yesterday afternoon through yesterday afternoon through to this morning I had notice lot more people speaking French

in Auckland. There has been a great number of great number of French supporters flood into supporters flood into this city and I think the favourites within the crowd because there's a lot of French

people come to watch this

match. Maybe the locals may be swaying towards Wales. swaying towards Wales. That's

going to be a great match up.

I'm looking forward to watching

that one as well. We appreciate you taking the time over there

in Auckland. We'll be working

on our French this on our French this afternoon to

support France and see if they

can win. I hope you can find

that gold jersey and get it out

of the locker and put it on

this evening. You work on your

French and I'll buy a Wallabies' I'll get is having a last name

that sounds like French. We

look forward to those two semifinals. This tournament

has been a success. Some people have asked international

chief of rugby union has this

been the best World Cup of all

time. He said best? Probably.

There's a bit to play out There's a bit to play out yet.

S ref which one is giving it an

A plasat the moment. Paul Kennedy in Auckland, Kennedy in Auckland, thanks very much for very much for your time. Thanks. Football shall Adelaide United took three points with a one-nil win over

the Melbourne Victory. The

victory have one point from the securing the securing the services of Harry Kewell. Central Coast play

Gold Coast after Brisbane Roar will look to make it 30 wins in

a row when they travel to Sydney FC. Sergio van Sydney FC. Sergio van Dijk scored the only goal for United

after a defensive howler by

Fabio. Van Dijk. He only needed a sniff. Shortly after,

victory skipper Adrian Leijer

was sent off for

bookible offence while Kewell found his what name in the

referee's book as the Redsings

took their spoils and the first

points of the season After

last week's performance there

was a lot to do this week

against Melbourne Victory, a

really good team, and in front

of our home supporters for the

first time this season, so I

think we did well. Lucky think we did well. Lucky we deserved to win. Moving to motor motor sport, Australia's Casey

Stoner has set the fastest time

in both practice sessions ahead of Australian's Phillip Island. Stoner has the

chance this week tone win a

record equal ing fifth straight

grand pre-. He can wrap up the

world championship if he wins

the race and Jorge Lorenzo

finishes off the podium. With

a little bit more wind and a

little bit more to deal with on

the track, yeah, it was just

more difficult to get to the times. Meanwhile, Lewis

Hamilton has set the fastest time in the

time in the second practice session of the South Korean

Grand Prix. Australian Webber

was fifth fastest. It is Caulfield Cup day and

race as punter turned away from

depees draw. It retains

favourite favouritism. Mighty

High and Southern Speed have

been heavily backed with

Manighar also firming. It's

been a mixed result been a mixed result for Australian tennis players Australian tennis players in action overnight. Matthew Ebden failed seed Andy Murray at the

Shanghai Masters after

disposing of Giles Simon in the

third-round. It was too much

to overcome for the Scotsman

Murray as he blasted his way

into a third straight title

having already won in Japan and Thailand

Thailand in month. Australian

stop seed Samantha Stosur in

the Japan open had her game called off because of the bad

weather. That was Andy Murray

up against Matthew Ebden Ebden went down in that one in straight sets. Stosur will be

in action later today.

Let's take a quick look's

satellite image. Thick cloud

is spreading across much of

eastern Australia. It is in a trough and is triggering

showers and storms. The storms

are particularly affecting northern NSW and South-East

Queensland. Cloud Queensland. Cloud about the top end is causing top end is causing scattered

storms mostly clear elsewhere. Taking a look at the states: The top stories from ABC News 24.

News 24. The Thai capital

Bangkok is bracing for a flood peak this he can peak this he can been that could inundate part of the

city. Thai soldiers are racing to sandbag the heart of the

city and establish flood walls in crucial areas. Hundreds of people have died across Thailand,

Thailand, Cambodia and Vietnam.

Authorities in PNG have S have recovered

recovered the badly burnt

remains of 28 people who died in a in a plane crash near

Thursday. The Australian

pilot, 64-year-old Bill

Spencer, was one of four

survivors and has been

evacuated to Port Moresby.

Investigators began Investigators began going through the wreckage yesterday

and retrieve the flight's data recorders.

recorders. Qantas says 100

flights will remain cancelled

next week. The

told its members yesterday that

all action will be postponed

until the end of the until the end of the month.

The union and the airline will

meet on Thursday in a bid to

reach an agreement on pay job security. And Australian motor cycle ace Casey Stoner

edged closer to a fifth

straight Moto GP title with the

fastest practice time at

Phillip Island. Qualifying

begins today of the main begins today of the main race on Sunday. Protesters have

taken to the streets taken to the streets across

Europe as anger rises at the the Eurozone financial crisis.

In Greece taxi drivers In Greece taxi drivers gathered for a noisy demonstration

outside the finance ministry in

Athens to protest against

measures. In Italy protesters through eggs and vegetable through eggs and vegetable at banks and police riot official to possess the Government's

system. In Paris protesters

urged the introduction of a Robin Hood Tax on international

financial transactions. For

more on how the global markets react ed to that unrest in White, senior analyst Colonial First State Global Asset Management. Thanks for coming in. coming in. Thank you,

Andrew. The G20 finance ministers are meeting. Is there any expectation they're

actually going to come up with

something firm. People have

been lamenting the fact there's

been a lack of political

leadership in Europe and that's

why we've got this crisis confidence. Leadership has been lacking on the European difficult. It

difficult. It is difficult for

the G20 to do something. We've

got a real political stalemate

in Europe between those want a multilateral solution

where the G20, the IMF and

obviously the European Union

play a lead role versus those

saying we need to be national solutions here and

creating national solutions.

You look at the Germans in

particular, the Germans are

very keen on not funding bank

recapitalisations across

Europe. They understand if their banks need to be recapitalised they're prepared to provide capital for that,

but not for the French or the Italian banks. Similarly, you've got a situation you've got a situation in Greece where the Greeks are

do by the IMF, the EU, and to

an extent the G20, we would

like a bit of our own sovereignty back. As video clip showed, there are

some very angry people in

Europe about this. As far as Ireland is concerned, the Ireland is concerned, the OECD

was called for Ireland to boost

its austerity measures. The problem with this is actually the economy tends to contract,

doesn't it? What options are

there there for Ireland at the

there there for Ireland at the moment? I moment? I think that's true about austerity. points about austerity and a

lot of people made the point

you've got to contraction.

You're going to get a contraction at some contraction at some time. It

might be better you have that

contraction upfront. Also, I think

think the IMF think the IMF are probably a

little bit behind the game.

Certainly markets are more

comfortable with the situation

in Ireland over the last six

months. You've seen a very

steep fall in the yield, the

interest rate, that Irish government

government is paying for its

debt. The fallen from 13% to

7%. They need to track and remain with their

austerity program which they've

accepted with good heart, I'd

say, the markets are very

say, the markets are very happy with what they're doing. You

mentioned the markets are

happy. That seems to happy. That seems to be

reflected on the on Friday. Is

that something to do with the G20 meeting that they feel

G20 meeting that they feel as

though something is being done?

We are definitely closer to

action. We're hearing a lot of stories out of Europe at the

moment. We've heard a lot of

talk about a 50% default from

someone close to the European

Union at the moment

probably and that's kept markets happy. On the other

side you've had very positive

news out of the United States

overnight where you had overnight where you had retail sales rise by 1.1% and also gig companies

companies like Google and Apple have come outs and have come outs and reported very strong earnings. That's

been positive for markets as

well. That's reflected the Dow

since I think was up 1%. Is it

too early to say, you too early to say, you mentioned the strong retail sales

figures, is there figures, is there any indication perhaps things are starting to move in the right

direction? I'm

The problem with retail sales

is the fact Americans are paying a lot Scott Morrison

these sort of things. Import

prices on manufacturing goods

are up 13% on the year. If you

do have had strong retail

sales, that's for goods which means the service part of the

budget that people have is

actually shrinking. That

service sector is where America

needs to be employing people

and it's failed to employ

people over the course of the

last year or two. I think

that's really the weakness in the US economy at the moment. Let's look locally at

the Australian market. It fell

back 1% yesterday. That was

largely on news out largely on news out of China, wasn't it, there's perhaps a

bit of a hiccough in China at

the moment? People are very, very concerned about China. very concerned about China.

We're at a point where

generally the consensus is

bearish on China and what's

going to happen in China. going to happen in China. I'm much more sanguine what's

happening in China. You do

have some isolated incidents

within the economy, so

news out this week that on the

east coast in a city wall went

Joe where there has been a Joe where there has been a lot of informal lending, people

lending to other through family connections and other

other sort of other sort of business connections, and some of these loans have been falling over where you've had cases of

businessmen escaping town to

avoid paying back their loans,

and these sort of stories have

certainly spooked markets. In

addition, yesterday, we had, on

Thursday, we had data trade situation in China. That

has slowed a little bit. It is still very robust. Exports still very robust. Exports are

growing at around 17%. Imports

are growing at around 20%. You're still talking about a very strong economy. I

wouldn't suggest that we're

going to see China slip below

that 8% level. Certainly,

there are enough stories out in

the market at the moment to

spook people about what's

happening in China. James White from Colonial First State,

thank you very much. Thank you

very much, Andrew. A low budget Australian movie shot in just

four weeks on a boat in the Maldives reviews from the critics both

here and in America. Pitched as the world's first survive

fee thriller, caught inside is

about a bunch of mates who head

off on a dream surfing safari

that goes to hell. Three years

after it was shot have got limited release in the cinemas.

It is set to disappear from the

big screen by the end of the mofnt. We're going to have a

great time. One thing can blow it one dickhead ruins it it one dickhead ruins it for the

don't be that dickhead. Set in the islands of Maldives, this latest Australian ind-I did

flick was guerrilla shooting at its best. Sam. Would you its best. Sam. Would you trust me Yeah, why. "Caught inside"

was filmed in just four weeks

on a charter boat in the middle

of nowhere. The Australian

cast and crew so hell bent cast and crew so hell bent on getting the movie made doubled up as cooks, stunt men

and part-time nurse maids. It

is a school of hungry tiger sharks. I told you you'd like

it. What while the story is set around

around a bunch of mates on

surfing safari for first time

director surfing was only ever

part of the backdrop. This film

isn't a surf movie. It is a

psychological drama. What the

movie is really about is the monsters we

says. You saw how she played

it. Characters like the

beautiful but flir day beautiful but flir day shus Samantha. A what did you do with your leg. The movie's star ageing surf champ bull, an immediately recognisable

Australian bully played with extraordinary menace extraordinary menace by Ben

Oxenbould, one American critic likened his performance to Robert Di Nero in and robtd Mitcham in cape

fell. I was bullshitting. Adam Blaiklock first had the Blaiklock first had the idea for a movie on a surf trip in

Indonesia. He noticed a boatload of surfers who had

broken the time honoured rule

for Australian safaris. No

chicks allowed. One of the

girl was a single girl. What she she wasn't realising she was

basically creating these basically creating these fruft traited month stores between

these guys One of the surfers

on the boat would ultimately on the boat would ultimately be the inspiration

character of bull. He was a pit

bull of a guy, sort of guy you

see at a pub you don't want to

look twice a at. He casually

turned to his mate in the surf,

looked back at his boat with the girl in the front of the

boat and said to his mate,

let's just take her to the beach and do her. His mate

just kind of nervously gig just kind of nervously gig geld

and went, yeah. It sent chills

up my spine. I was going my own thing. She asked for a rub

down. She's that type of

chick. What's a guy shows supposed to do. For a lot of small towns I've gone and

surfed when I was young, you

would always meet that young guy who was intimidating. After a long career in comedy, it is

perhaps inevitable critics are already Oxenbould's bull to Eric banana's break out performance as chopper. What distinguish s

bull from most Australian screen bullies he doesn't play

the cartoon villain. Let's

have a little his see and

runway, shall we. Bull is fully

formed. A stark portrait of that peculiarly Australian

legend the unhinged alpha male

who is loved and feared and can

be found in every schoolyard,

pub or football club. Do you

have many friends, bull? I've

got heaps of friends. Look around. The film has already won rave reviews, including

audience favourite with the

2010 Sydney Film Festival. Without industry Without industry funding, Blaiklock has been forced to

beg for favours to get beg for favours to get a limited release around the country. There is this country. There is this fine line between this guy totally evil but you can't him. That's what I found in

you. Good. How do you do that? I'm sure that you guys

would know a guy like that.

He's one of those guys who

turns up at a party and you go he's here, unreal, you know.

Let's go, you know. It is a difficult thing to get difficult thing to get people

to see an Australian film. It is heartbreaking because is heartbreaking because the

response to the film has been

so wonderful. It will thrive

on people seeing, loving it and

telling other people to see it. It has to be tried

here. You can't be tried at

home. Hoobs. The national zoo and and airium has unveiled plans

to triple in size and allow

visitors a more interactive experience. The $15 million

plan includes new luxury accommodation with shark tanks

as part of the Furnishings. Lions,

Lions, cheat at thats and giraffes will be moved to

larger enclosures. Big cat pretty lazy, so they around a lot. They sleep about 20

20 hours per day. Our intent

is to get them moving around

more often. Breeding more often. Breeding wise, it will an will an impact there we'll have

greater facility to breed more animals. The main animals. The main thing will be through education and getting people to getting people to understand about about the Animal Kingdom. The project will take 18 months

with the first stage to be

completed by Christmas next

year. Let's check the weather

around the capitals now. Afternoon showers and storms in

Brisbane, showers clearing in

a shower or two developing in

Melbourne, rain at times for

Hobart, a possible afternoon

storm around Darwin, and sunny

for Perth. Stand by now for

the quarters. I'm Andrew Geoghegan; Geoghegan; you're watching ABC News 24. Thanks for joining us. Closed Captions by CSI