Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Disclaimer: The Parliamentary Library does not warrant the accuracy of closed captions. These are derived automatically from the broadcaster's signal.
Lateline -

View in ParlViewView other Segments

(generated from captions) and giving you information. which is telling you something and very special to this form. And I think that's something unique in a single moment of a film. It's not like being You're in numerous moments at once to play with that as an artist, and you've got such scope as a reader and so much to gain from that it's just a marvellous form. so I think it's a marvellous, I agree. simultaneously. The whole book arrives you accidentally saw the end pages. You picked it up, that wouldn't matter In a prose novel, you couldn't read them because it was going too fast, of where it's going but you've already got a sense a page is simultaneous. and it's about and half-noticing what's at the bottom. You can't read the top without Shadow Of No Towers I mean, I love in Art Spiegelman's the way he draws the towers. before they pancaked and collapsed, He said that the second but they shone, you couldn't see with your eye the skeleton shone off his building and he's reproduced it here. the very attractions of the form. Well, you see that's one of captured in a drawing. Sometimes a thing can only be or described, Can't be seen by the camera how would you describe that even? warping space and time And what's more, he's actually quite unique to this form, which is something I think a composition, just in the fact of doing different moments in time where you're looking at at the same time on the page, sense of space and time. you're playing with the reader's where you have characters I'm doing this a lot in Hamlet is progressing along tumbling down the page as the story in the usual way of reading. to play with this sort of thing. So absolutely, I think it's fabulous picture in the book, Very often if you look at a little it's a simple little diagram you know, 350 pages but there's something about reading of these little diagrams of the interrelationships that you have been taken into where you feel an actual experience. and been invited to share who was not allowed to read comics, I have to say, as a girl

it's been a great adventure. into your world. Thank you very much for taking us That's our program for tonight. A big thankyou to our guests - to Sophie Cunningham, Eddie Campbell, Bruce Mutard and Nicki Greenberg. (Applause) Thank you for watching. into the graphic novel world I hope you've enjoyed this journey Tuesday of next month for Book Club. and join us again on the first and goodnight. Until then, very happy reading (Applause) Jacqui Mapoon Closed Captions by CSI - This Program is Captioned

Live. Tonight - tragic centre.

In the space of 8 weeks a second suicide at Villawood. We're certainly

concerned that this is the

second death at the Villawood Immigration Detention Centre in

a matter of months. We are concerned when these sorts of incidents occur.

Good evening, welcome to

Lateline, I'm Leigh sales. The

parliament voting down the pro-Pease poezal. The

Opposition's worried the $43

network is extravagant but one

of the key Independents in the

parliament disagrees. People

talk about the $43 billion. We

sold Telstra for 49 I think,

we had tax cuts for 3 years of 47. A lot of people were saying

to me when John Howard did that

and Kevin Rudd agreed with him

during the 2007 election, a lot

of people said to me and I surveyed the leck trated, over

80% said they didn't want the money, they didn't want the

hamburger and the milk shake, hospitals and

Lateline tonight is Independent infrastructure. Joining

MP Tony Windsor. We'll also be

crossing live to our correspondent in London where

it's been

William will marry his

long-time girlfriend Kate

Middleton next year. To London

in a moment but first our other headlines. Universities in cry

sition, an $18 billion industry

under threat from changes to

student visa rules and the

rising dollar. On shaky ground,

euro zone ministers Gat ner Brussels to head potential debt meltdown. And

marked man, the US wins its

battle to get a Russian arms

dealer extradited from Bangkok to stand trial. There's unrest to stand

at Sydney's Villawood

immigration detention centre

tonight after the second

suicide there in as many months.

months. A 41-year-old Iraqi man

was found dead overnight and

fell, asylum seekers say

they've started a hunger strike

although the Immigration

Department denies that's happening. 2 of the dead man's

applications for asylum had

Complicating the case is advice been rejected in the

ta the man may have been a

beneficiary of last week's High

Court ruling on off shore immigration detention. Ahmad al

Akabi came to Australia by boat

12 months ago. The 41-year-old

was a teacher and truck driver

His fellow asylum seekers say in Karbala in southern Iraq.

his bid to stay in Australia

was based on claims of

army. He has a problem with persecution from the Shia Mahdi

them and he's scared. Ahmad al

in Australia on Monday and his Akabi gave up his fight to stay

friends say then committed

suicide. He say he was home sick and felt guilty about his

wife and 3 young daughters.

Detainees say he was found at

11:30 pmy. The Immigration

Department say it was about an hour later. What we are aware

of is that the report that was

made to summons help was some

the morning and he was time around 12:20 or 12:30 in

transferred to hospital shortly

thereafter, pronounced dead at

the hospital at 1:10 am. Another asylum seeker, Fijian national, Rauf Rauf

Rauf, took his own life at the

same detention centre just 2

months ago. That suicide led to

roof top protests and hunger strikes. We're certainly concerned this is death at the Villawood

immigration detention centre in

a matter of months. We are

concerned when these sorts of incidents occur. Ahmad al

Akabi's bid for asylum had been

rejected twice in the past

year. He decided recently to go

back to his family in Iraq.

Lateline has been told that Ahmad al Akabi had filed 2

separate agreements to return

to Iraq but to Iraq but he'd rescinded

both. The last time he reversed

his decision was on November

11, the day the High Court

found asylum seekers held in

offshore detention could have

their cases reviewed in

Australia's courts. Lawyers say

it's likely Mr Al Akabi's case

would have been affected by the ruling aiz his rejection happened on Christmas

Island. Questions that go to

the confidentiality of our arrangements and our dealings with clients in detention are

matters that must remain

private, we're governed by the

privacy act but I'm sorry I'm

not able to go into details

around this client's visa

status. Ahmad al Akabi was in

an area of the detention centre

set aside for people who arrive

in Australia by boat. Tonight

there are claims of a hunger strike at the somewhat sceptical about some of the reports that so-called

advocates in the community are

putting out to the media.

Really that's how it is

Really that's how it is at the moment?

Police and the company that operates Villawood are

investigating Ahmad al Akabi's death. Tonight Buckingham Palace

Prince William is to marry

long-time girlfriend Kate

Middleton. Prince William

second in line to the throne

will marry next year. Our

Europe correspondent Phil

Williams joins me from London

with tit laes detail. Phil,

what do you know? Well, hot

off the press, this has only

come out in the last few minutes. Clarence House has

issued a statement, that's course, to say the wed willing

take place in the spring or

summer of 201011. Further

detail about the wedding day will

will be announced in due course. Prince William course. Prince William and Ms Middleton became engaged in October during a private holiday in Kenya. They holiday in Kenya. They did

othat on the quiet. There was a

lot of speculation about that

and denied at the time but

obviously it was true. Prince

William has also sought the

permission of Ms Middleton's

father. So very traditional

approach to all of that. And

following the marriage the

couple will live in North Wales where Prince William will

continue to serve with Royal Air Force where he

demands r commands a rescue

helicopter. They won't be going into surps surroundings traigt away. But

as the heir to the throne will

end up in Buckingham Palace.

He's our future head of state.

He's now announced who he's

chose ton be his wife. Much celebration here in England and perhaps some too in

Australia. And Phil, this will

presumably be wedding since his own

parents. Absolutely. It will be

a huge event. It will attract enormous international attention because loves a royal wedding and he's

very popular. He's restored the

popularity in a sense of the

royal family given the ructions

that the previous generation has caused and the trouble that they've cause and the angst

that they've caused. He's seen

very much as a likeable, very

affable, very modern type of prince prince and there's of course

all that speculation that perhaps we could just skip

Charles and go straight to him

when the Queen finally passes

on. But he'll probably have to

wait his turn. But this will be

a very, very popular

announcement here in Britain. Phil Williams, thank

you very much for joining us.

Thank you. Universities are

warning this $18 bling overseas

student sector is in danger of

collapse duz to the dollar, and

publicised attack. Some say

their enroms are down 30%.

Today the Reserve Bank

acknowledged the impact of the strong Australian dollar on sector. Educators say that's a

factor but single out changes

to visa requirements as the

main unfluns on the decline in Australia's fourth biggest

industry. It's an $18 billion industry many believe is heading for disaster. If this

was General Motors and this

were its car plants in

Melbourne and 300 plus people every minister from the Prime

Minister down talking about how

to fix this. Education is

Australia's fourth largest

export earner after iron

coal and gold. Now Australian

universities are reporting to

declines of up to 30 nckt

enrolments by full fee paying international students and

senior university figures are

warning of a collapse in the

sector. I think it's snuck up

on Australians a little. People

don't realise that about

125,000 people in terms of

full-time equivalent jobs are employed in very important in some regions

and some cities. One factor is

the high Australian dollar.

With projections of 3 years of

parity ahead of us, studying in

Australia is becoming more

expensive. In China that is

playing out as a factor. China

is our major source country for

students. Chinese students make

up about two thirds of the

almost 300,000

almost 300,000 overseas

students in Australia. The drop

in numbers from China has

alarmed the Federal Government

to the point that tertiary

Education Minister Chris Evans visited there 2 weeks ago with a high Australian universities. The

group including Professor Ross

Milburne from UTS. We heard constantly concerns from China about our visa processing, the

time it took to get visas, the

cost of the visas and the

amount of funding that student

s ed to be able to guarantee

before they could apply for a visa. Senior figures aft universities say the Federal

Government's changed the student visa requirements is

the biggest fact nor the

decline of international student enrolments. Processing is slower the regulations that govern

whether you get a student visa

have become much tougher, so less students are getting

through the gate. A student

visa now costs $500 and can take up to 3 months to be

approved. Students also need to

have $140,000 in the bank, up

to 3 times the amount required

by countries like the US and

Canada. If we could only change one thing we would change our visa policy. Fred Hilmer believes the Federal Government

is pandering to fear in the community about

immigration. People in aiz yarks and I've

from a visit to 7 major centre,

people don't feel that they're

welcome here and we've got to

really change our political

rhetoric and get a much more

civil and sensible debate. The

group of 8 vice chancellor says

it's a misguide ed assumption

that people who come to study

in Australia want to stay. The overwhelming majority of students coming to our universities are coming here and then they're going

back. Violence against Indian

students and Australia's

ongoing debate about

immigration and refugees is

also having an impact. The

pattern of violence affecting

south Asian student, Indians

and Bangladeshis mainly in

Melbourne over the 3 years up

to the beginning to the beginning of this year has substantially harmed our

reputation as a safe, secure

and tolerant country in

India. In October Monash

University in Melbourne shocked

other universities when it

announced it would shed 300 staff and cut $45 million from

its budget in response to international enrolments

falling by 10%. No Monash staff would talk to Lateline but other universities are alarmed at what's happening

there and what it could mean

for them. I think the Monash

decision or the Monash events

are really a wake up

call. Universities are

reporting a 9% drop across the

board in overseas enrolments.

For example, Central Queensland

University is expecting a 25%

drop, Victoria University is reporting similar figures. The

middle of next year is the

start of when we believe we

will see the big

to happen and then for the next 2 or

2 or 3 years the current

projections are that's when

it's really going to come home

to hit us. Higher education

expert Simon Marginson believes most universities will lose

revenue but it will be the new

universities who rely on

oversea s enrolments will be

most affected and that will

felt by all students. Lit be

affected by reductions in

revenue on this scale. With

newer, lesser status

universities being hit hardest

but some of our oldest and best

universities also being affected I think. The Federal

Government says it will

announce the results announce the results of a

review to student visas next

month. An 18-year-old man has

been charged in relation to the murders

murders of a family of 3 in the South Australian town of

Kapunda last week. The bodies

of Andrew, roast and Chantelle

Rowe were found in their home.

The arrest took place a day after detectives revealed

they'd obtained the DNA profile

of an unknown man from the crime scene. The 18-year-old will appear in court tomorrow. Divisions within the Federal

Government over gay marriage is spilling into spilling into the open. Front bencher Mark Arbib want

aspolicy change and has publicly defended himself

against criticism from

factional colleagues. And to contain the debate Labor's

backing a motion in parliament

calling on MPs to start

consulting voters on the issue.

From Canberra political

correspondent gression Jennett

reports. A win's a win but at Labor's Victorian launch the Prime Minister

revealed the wounds of her near

death experience with protest

votes. After all that's

happened in 2010 no-one can

doubt it, if you want a Labor Government you have to vote

Labor. And in her fledgling

government shifts and tensions

are emerging on defining

policies. Msh, why are you

undermining the Prime Minister

on the issue of gay

marriage? Well that's not the case at all. Mark Arbib's push

for debate and ultimately a conscience vote on same sex marriage has

with members of his own right

faction. This is a big, big

matter of policy. For now

Labor's come up with a small, small step to contain the divisions. We must be very

careful in this place in mind

less genuflection to tradition. It's It's combines with the

Greens on a carefully worded

motion. Cautious but emblem atic enough for Tony zero in. Labor might be in Government but as the

Australian people are

increasingly becoming aware the

Greens are in power. The gay

marriage debate is drawing in

big Labor big Labor figures and will

persist all the way through to

its next national conference.

Making it that much harder for

the Prime Minister to talk up

her policy agenda. We need to

price carbon. And that much

easier for the Opposition to

attack it. Isn't this

Government finding its way a

bit like Burke and Wills the Leader of the Opposition

with his bitterness and

negativity and we'll get on

with the job. It's making headway too. Lock the doors. Tony Abbott's sprint the chamber wasn't enough to

stop a bill vital to the national broadband network

clearing the house. Well as

Greg Jennett just mentioned the

Federal Government bill to

force Telstra to separate its retail and wholesale businesses

has passed the Lower House of

parliament but the Opposition

failed to win support for any

of its amendment tots the bill and introducing broadband network. To discuss that and the other day's

political issues including gay

marriage I was joined a short

time ago from our Parliament House studio by Independent MP

Tony Windsor. Thank you for joining us. Pleasure,

Leigh. Tonight the Parliament voted against the Coalition

amendments to the NBN but would

you be a interested to see the if there was a way to have more

scrutiny to the NBN if it could

be done without delaying the

roll out? There's a role for

the ACCC in relation to the

roll out but I think we've

fiddled around with this long

enough. We've lost a decade in

relation to movements, political activity in relation to tele communications. I think

it's time we moved on with this.

this. I think the Opposition's agenda has been very clear.

Tony Abbott made statements

earlier today that it was about

demolishing the NBN. So I think any amendments now that they

introduce have one aim in mind and that's

assist in terms of scrutiny or transparency. You said there is

a role for the ACCC, what do

you think that role should be? Well,

Well, they do have a role in

terms of migration of activity

from Telstra into NBN. There's

various roles that they have to

play in terms of the conversion

from Telstra into the NBN or

that section of it. Is that

sufficient, do you think? I

think it will be and obviously

the Parliament and the people

activity in the Senate too. I'm

hopeful that the business plan

will actually be out before the deliberations go through the

Senate. So you'd like to see

that business plan out then

before Parliament rises for

this year ? Well, I think

everybody would like to see it.

I'm told there's some very good

results in it so I'd be hopeful that document would be

available. I'm told that it's a

live document now, that it

hasn't gone through the

cabinet. I think it would be appropriate if the people in

the Parliament, they're the

ones who paid for it, would

actually have a look at it. And

has the Government given you any indication on any indication on the timing of

when they might release that?

Soon, so I'm expecting next

week. Obviously that's up to

the Government. Given that some

regular competition principle s

are being bypassed to allow this deal between the NBN and

Telstra, are you worried at all

that consumers could end up paying higher Malcolm Turnbull's been making

that point. I think the real

point that needs to be made

here is that in terms of

competition between the various

telcos, I don't have an issue

with one back bone existing

across the nation. You know, we've seen what happened with some of the television

networks, whether try ing to

dupe Kate networks and those

sort of things. We also saw when John Howard was in power

that there was this sort of

commitment of when they sold the third section of Telstra

It's obvious that it won't

deliver in certain sections of

the nation so in my mind we do

need to develop a backbone railway line in that sense and

then let all the competitors go

in terms of the delivery of

retail services. I'm

comfortable with that. I know

Malcolm's been suggesting that

cable in Sydney should be left

as some sort of competitor. I

think it's really away from the mistakes we made

in the past in terms of the

separation of activity and

Telstra, the structural separation, get on with it now and get and get this very important

piece of infrastructure rolled

out. You talk about having a

backbone but even in terms of

the creation of that backbone f

there is competition that flows

later relating to that or from that, what safeguards are in

place so that consumers can

trust that their $43 billion on

this project, on the creation

of the backbone, as you put it,

is being sort of an equalised wholesale price rolled out so all

Australians will share in that.

Some might argue there will be

some degree of cross some degree of cross subs

daition - subsidisation taking

place. I don't take issue with that, coming from the country

we're going to need equity of

access and pricing in terms of

the wholesale mechanism and

that will unfold as time goes

on, I guess, but I'm

are at. The OECD remarks that

have come out about the fact

that this monopoly model might be ideal hasn't given you pause

at all? No, no, because I

think it's had an each way bet.

It's virtually endorsed the

system and said it may be doing it better a little bit this

way, a little bit that way.

We've all got things we could

do a little bit better. The

Government has made a determination. It went to the

poll on it. I supported it in term of being one of the definitive

issues , something that's very

important in my view to country Australian. It actual negates

distances being a disadvantage

of living in the country. It

can have an enormous impact on

a whole range of activities -

health, education, business,

just normal private activities

but also if we do move into a carbon economy there's a whole

range of activities that where savings can be made some of the teleconferencing,

those sorts of real time things

that can be achieved through

the optic cable. Aged care, the

medicine, a range of things

that I think, and some of the

things I know Malcolm Turnbull argued for the Productivity

Commission to look into to do a

benefit cost analysis. I think

it's very difficult to do that

in a circumstance when you

don't know some of the services

that will be delivered in the next 10 to 25 years. Question

time was today. You helped craft some of

the new procedures for

Parliament after the election including question

including question time reform,

how do you think that's working

out so far? I think it's going

well. You know, the questions

are shorter and the answers are

more precise. We'll never get

totally rid, and neither should

we, in my view, get rid of the

some of the argy-bargy that

takes place, but I think it's

tightened up considerably. The speaker is picking the ministers up and some of interjectors up from time to

time in relation to the

standing orders. So - and the

general commentary that I get

both within the Parliament and particularly from the press and

quite often from the public is

that it's better than it was

and I think they appreciate the

speaker's role being a bit more

- a bit full ner terms of being

able to bring people back to

order. And do you think that

that level of independence is actually working out? Yes, well give it time. I think it

is. I think it's heading in the

right direction. I think all of

us, you know, are starting to feel a bit feel a bit more comfortable in

what is an unusual

circumstance, that of a hung parliament. I think the

Opposition is actually really

starting to adapt to that

process, particularly in the

last couple of weeks. I thought

everyone started a bit loose in

the sense they're trying to

play the old game without the grass on the

I'm confident that it will

work. I think lit be an exciting parliament. I think

there's a lot of very

interesting things that are

going to unfold as the next year progresses. As we all

know, of course, you were critical in helping the Gillard

Government return to power. How

do you rate their performance

so far? I think they're

settling in. I think all of us

are. I think the first three or

four months of next year will

be the determining factor in

terms of

putting her stamp on this

particular parliament. So the

jury's out. I think both the

Government and the Opposition

are in that adjustment phase

and it wouldn't be an easy

phase for both of them but I

think they're starting to

settle into it. The Labor

figure Graham Richardson has criticised the Gillard

Government for lacking a vision

and that's a line Tony Abbott

picked up on in question time

today and yesterday. Can you

identify a vision yet for the

Labor Government? Well,

think there's a number of thing s that are potentially

visionary in a sense. visionary in a sense. The Murray-Darling arrangements, I

think - and I'm chairing a committee that's actually

looking at that. I think

there's enormous potential to

utilise the hung parliament to

come up with a range of

recommendations that actually

solve the problem but don't

sell the communities on the river down

the nature of this parliament

could really assist in

delivering a solution there. I

think in terms of the climate

change debate I'm change debate I'm also on that multiparty arrangement that's

looking at that. I think if we

step back and look at some of

those things who knows what

will come out at the end of 12 months. I think there's a

number of things happening. The

issue today, the national

broadband network, as I said, I

don't think there's been a

bigger piece of infrastructure

that will have a lasting impact, particularly on regional Australia but the

nation itself, than that piece

of infrastructure. People talk

about the $43 billion, we sold

Telstra for 49 I think, we

tax cuts iffor 3 years of 47

and a lot of people were and a lot of people were saying

to me when John Howard did that and Kevin

and Kevin Rudd agreed with him

during the 2007 election, a lot

of people said to me, and I

actually surveyed the

electorate and over 80% said

they wanted the money, they

didn't want the hamburger and milk shake, money spent on hospitals and

infrastructure. I think if you

could remove a bit of the petty politics from the broadband

debate I you know, a very significant

piece of infrastructure for the

purt and put - future and puts

us in a competitive situation

with our neighbour. There's all

the productivity benefit and

cost savings in terms of health

and aged care and the things we

talked about earlier. Let's

whip around some of the other

subjects in the political debate at

debate at the moment. What's your

your view on gay marriage?

Well, I married a woman. I agree

with the amendment that was put

up last night

that was put up by Adam Bandt. I will

I will be consulting with my

constituents as to what they

think and I'll be representing

their view. I'll do it in the

way, the similar way that I

mentioned there earlier. I'll

survey the electorate to find

out what their view is and I will represent that view back

to the parliament. So you wouldn't

wouldn't be representing your own don't RaeRegard a conscience

vote, and bear in mind I'm an

Independent so every vote in a

sense is a conscience vote but

it's a conscious recognition of

what I believe the electorate

would want and I'd actually do

that in this case as well. I

think that's what we're being

asked to do. Members of

parliament to go back to their

constituency, ask the question

and return to the Parliament

with that question. Some people

get that excited the party

members get very chiet excited,

they think this is freedom they

can give their own view. I've

view is to represent the people

I represent, not myself. Nonetheless what is

your personal view? Well, I

don't have a problem as long as

it's not compulsory. I'm very

happy with my wife. Do you

think that community attitudes to

to gay marriage have changed

over the time that you've been

in public life? So say the past

20 years or so? Well, same sex

relationships, you very common these days. The

marriage word is the one, if there is to be a difficulty,

that may well be the issue

here. I don't have a problem

with what, you know, consenting

adults do, that's their

business as long as people don't interfere with my business, I don't interfere

with theirs. Do you think

though that society's views have loosened up on that

though? Slightly. we'll find out by referring

back to our constituencies. I

think it's very important that

we actually do, as members,

represent our constituency, not

our private views. I think

we're not special people

because we're members of

parliament, we represent

constituencies and my private

views and that of my

constituency may be completely

different and I've represented

things into the parliament before that I haven't

personally agreed with but that's not - I'm no technical

expert on everything and I'm

there to represent my

community. Yesterday Tony

Abbott introduced a private

members bill aimed at

overturning the wild river's legislation in Queensland, when

you were you were asked about this last

month you said you didn't

understand all the issues so

you weren't yet sure where you

stood. Have you formed an

opinion yet on that? No, and

I've met with people from the

Gulf today and I've had a

number of meetings with people

from the Gulf. I've given an

undertaking that I won't make a

decision on that until I go

and actually talk to people on

the ground. It may well be

difficult for me to get there

because I've got a tame river in the terms of the Murray-Darling that I've Murray-Darling that I've got to wrestle with through January

with a committee I'm on but

I'll attempt to do that and

then make a decision. If that

can't be done well I'll have to

make a decision without going

up there. Tony Windsor, good to

have your company, thank you

very Melbourne Cup - much. OK,

thanks, Leigh. In a few hours

time European finance ministers

will meet in Brussels amid growing concerns that a number of countries in the union are again on the brink of a debt

crisis. The President of the European Union has even

described it as a crisis of

survival for the union itself.

One of the biggest worries is

Ireland with increasing

speculation that it will

require more assistance from

the EU. Europe correspondent

Philip Williams reports. The

Christmas lights are up in Dublin but the prospects are dimming by the day. The Irish Government

insists it doesn't need a bail out,

out, that its finances are

stable, at least until early

next year. I have a job to do which is to ensure we do the

right thing by the country.

That means both in terms of our national dexs and in terms of

how we conduct our international obligations as

well. But increasingly other

vulnerable countries like Portugal are urging the Irish

to put pride aside and ask for

a euro zone bail out sooner

than later, fearing a run on

everyone. I think the European

partners of Ireland are very much concerned about the effect of the spill over from the

crisis here on to other peripheral states peripheral states and on to the

core countries like Germany,

France, Italy and

Spain. Finance ministers are

meeting shortly to discuss the

renewed pressures. The Irish

people are waiting too to see

which way their government jumps. It's hard to know

whether it will be good for the

country or bad for the

country. If it has to happen country. If it has to happen it has to happen and maybe a

quick, sharp solution might help. It probably won't help

Paul Ebbs and his wife Jerry.

He's just been laid off his construction job, she's seen

her wages slashed in the public

service. I'm about 70 euro down

a week now. It was felt we'd

been doing with well and with

so much money and we really

were coming out and it feels

like we're going back to the

early '8 #0s. I almost feel

like you're going backwards in

time. With optimism in short

supply, some like these

engineering students plan their careers overseas. Ireland once

again becoming an exporter of its brightest. And with his darkest warning yet the

European Union President has

warned the very existence of

the EU is under threat if the debt crisis isn't brought under

control. His grim assessment -

if the euro zone goes down it

could take the whole EU project

with it. The European Union has

offered the poorest Irish offered the poorest Irish some

free chedar and food aid but

the hard cheese ahead may be

measured more in billions and

for some in the EU that rescue can't

can't come soon enough. notorious arms dealer who has

been the subject of an extended

diplomatic tug of war between the United States and Russia

has been extradited from

Thailand to the US aboard an

American Government jet. Viktor

Bout is an alleged KGB agent.

He's accused of running arms

from Sierra Leone for 20 years.

The burly Russian's luck ran

out when he was caught in a sting operations by US posing as guerrillas from the

revolutionary arms forces of

clumy or FARC and has fought a

2-year Beatle against

extradition to theist extradition to theist US on

charges of conspiracy to kill

nationals and providing

material support or resources

to terrorist. If found glted he faces life in jail. His

detention brought repeated

protests from Russia which

called the extradition proceedings politically

motivated sparking speculation

information that could

embarrass Russia. His

appearances in court wearing a

bullet proof vest and shackles

while flanked by armed

commandos and tearful

performances by his wife added

to the drama of the case. And

indeed his exploits were the

inspiration for the Hollywood

film Lord of War starring

Nicholas Cage. By the mid '8

#0s my weapons were

representing in the top 10 world war maintains his innocence speaks

6 languages and used multiple

force identity ties and

disguises as he allegedly

brought everything from war

planes an helicopters to

missiles and small arms at bargain rates after the fall of

the Soviet Union and sold them

in Afghanistan, Angola the Democratic Republic of Congo,

Liberia, Rwanda, Sierra Leone

and Sudan. The former British

foreign officer Peter Hayne

dubbed him the merchant of

death. And amny international

alleged he operated a fleet of death and destruction across

the globe. He thwarted

extradition in August leaving a

US plane sent to collect him

sitting on the tarmac when his

lawyers insisted that charges of money laundering

filed by the US to speed up his extradition be heard. Today

though there were no

last-minute hitches and Bout

was whisked from his prison in

a heavily guarded motorcade and

on to a waiting plane. Leaving

his wife waiting at the prison

unable to say goodbye. Now to

the weather, a few showers in

Sydney and gusty storms for Darwin.

And that's all from you'd like to look back at

tonight's interview with Tony

Windsor or review any of

Lateline stories or transcripts you can visit our website and

you can follow us on twhiter

and Facebook. Tony Jones will

be here tomorrow with the first

part of a special extended interview with the writer Christopher Goodnight. Closed Captions by CSI This Program is Captioned


Good evening and welcome to Lateline Business. I'm Ticky

Fullerton. Tonight - no regrets

- BHP defends the Potash bid &

and says it will still chase big miner even bigger Your

board has an obligation to look for options that create meaningful shareholder

value. The Reserve Bank reveals

nof's rate decision was all in

the - November's rate decision

was all in the was all in the crystal

ball. What the RBA is doing is

setting inflation rates now for

where we are likely to be in 12

to 18 months time And and AWB

showeders vote to tell out to Agrium. In our view the Agrium

offer represented better value

for shareholders which was why we decided to change our recommendation to our

shareholders. To the markets,

where Ireland's debt problems

left everyone treading party.

The - water. The All Ords closed closed just above the Plimsoll


BHP's bosses based the

bosses in Perth, a day after

throwing in the towel on the

Potash bid. Despite three

failed deals and nearly $900

million in costs, chairman Jac

Nasser said there were no

regret s about the acquisition s policy. There was

shareholder concern because of

deals that weren't done, but these protesters were angry

about BHP deals that might get

done, like WA's planned Yeelirrie uranium mine. BHP

claimed to give guarantee s

that they can assure you what

will happen with their uranium.

It will disappear off the

safeguards rated radar when it

goes to Russia and China. Some

were Woy idean't - worried

about the unfell $$39 built Potash Corporation. BHP was

paying too much for Potash Corp

versus buy ing become their own

stock. The fact they've been

rejected in their proposal is

please ing to us and in particular particular we like the fact

that they're now buying back

their own stock. Although we

believe that our ownership of Potash Corp would have created

thet benefits to Canada, - net benefits to Canada, we respect the Canadian Government's

decision. Chairman Jac Nasser implicitly backed his chief

executive, Marius Kloppers, by backing the board has an obligation to look for options that create

meaningful shareholder

value. The man who is yet to

deliver the big deal received a

new pay package, one that was opposed by the Shareholders Association. The association

says the share incentives are

overly generous and could make

Marius Kloppers up to 13

million dollars a year. But

judging by the outlook, BHP can

afford it. Emerging Chees are growing at approximately three

times the rate of the developed countries . BHP Billiton's

growth, the

we supply, is Levaged to these

higher growth rates. That means

BHP will have an embarrassment

of riches. And there's speculation the next

could be energy giant Woodside

with the big est hurdle likely

to be price. Some Aboriginal

itselves say it won't come

-ageists say it won't come cheaply. While BHP Billiton

lost out on its bid for Potash,

ANZ could be 24 wart on its

ambition to acquire a majority

take in the bank of Korea. The

shoaling has been sold South Korean - South Korean group Hana Financial. ANZ has

shrugged off the report and

says it is continuing due

diligence which it started in mid-August. KEB is Cork's fifth

largest bank sand being auctsed

by Lone Star Funds, which owns

a 51% stake. I Bess on a trying

to sell out of the bank for

four years. ANZ share s were up 0.8% on the day. The Reserve

Bank has revealed its Bank has revealed its decision

to raise interest rates again

this month was touch and go.

The minutes from November's board meeting showed that in

end worries about inflation

prompted the bank to movings ,,

even though it knew the big

four banks would go even

higher. As Americain took the lead in the Melbourne Cup, the

Reserve Bank had given Australia something to think about dr a surprise interest

rate rise. Today we received an

detailed explanation of

why. The what the RBA is doing

is setting nows for what

inflation is likely to be in 1

to 18340s time. The minutes of

the Reserve Bank's Melbourne

concerns about inflation even

though at the moment inflation

is well contained. With only a

modest amount of spare capacity

in the economy, a gradual upward trend in upward trend in inflation

remained likely over the

meedsium term. If monetary policy was to be conducted in a

forward looking way, these

development s pent there was a

case for investing interest rates at the current meeting. I

think inflation has been a

concern for the RBA for a

little while now. I think the combination of above trend

Reith growth this terms of

trade shock and a tighter that inflation is heading

higher over the medium term and

that rate also ultimately need

to go higher. Since that

Melbourne Cup day rate rise,

the big four banks have caused

a furore by a furore by all raising they lending rates by more than a

quarter of a percentage point. The minutes reveal the Reserve

Bank was expecting that.

Spreads on longer term bank debt had stabilised at levels

that were significantly higher

than before the crisis. Members noted there was a possibility

that banks could increase

interest rates on loenss by

more than any mormove n the

cash rate. But while home mortgage rates hit headline, banks have been hitting their business

customers hard. A survey of 1,000 small 1,000 small businesses by

management solutioners provider

MYOB has revealed 30% of them

are facing severe financial pressure caused by rising rates. While banks are

increased the basis point

spread over the RBA rate for

mortgage holders by 110 points,

business loans have gone up 225

points. And while the

Government talks tough about

reining in the bank, Tim Reed

says since the election the small business community has become increasingly disillusioned with Canberra. They wold love

understand business, we get

what it's like, we appreciate

you. We thank you for the

contribution you make to the

economy. And here are some

things that we're going to do

to make your life a little bit easier. The release of the

Reserve Bank board minutes had

little impact on financial markets which are again

focussed on the northern