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(generated from captions) building America. They've the title. The violation human rights must was like the sky was on fire. I human rights must end today. It

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is never having met him. I am my own woman and I stand own two feet. I thought I was going to you can count on me. I leader. If people are un happy with the leader they can take whatever steps they appropriate. I do feel whatever steps they deem

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just completely dark. The light you had was the enormous just completely dark. The only

flames just swarming through here. Very scary. It just everything in its years has gone. And all the best friends are dead. Their kids are dead. It's all gone. I think this is a once in a lifetime God help us is a once in a lifetime fire.

willing we don't see another one. All we can rely on is each other. Sadly, many that cannot even do that.

(Bell rings). Tonight on the

'7.30 Report'. Back to boom

times for the US economy, or is

it just a false dawn. There's

no jobs out there. There's

nothing. It's not a financial

crisis, it's not an economical

crisis, this is a social

crisis. And Australia's first

celebrity 'Masterchef' Tony

Bilson on his new culinary

challenge. My role is to

translate my passion as

gastronomy as an essential part of the culture.

Captioned. This Program is Live

Chris Uhlmann, with the Welcome to the program, I'm

countdown on to usher in the

new year the American economy

is ending 2009 with just the

slightest glimmer of recovery.

July to September saw growth of

over 2%, and the predictions

are for stronger growth in the

final quarter of the year. That

is enough for the President to

start expressing cautious

confidence about the future.

But there are also signs of

complacency, banks are paying

big bonus, some analysts are

worrying that the real lessons

of the 2008 crash have not

filtered through to the place

where it began. North American

Correspondent Michael

Brissenden reports. (Bell rings). If last year proved

anything, it's that it's not a

financial crisis, it's not an

economic crisis, this is a

social crisis. Everybody is

linked to their financial

standing. I put in for probably

- oh, probably 10 jobs, eight

or 10 jobs a week. I get

interviewed for about four a week, and I'm still

unemployed. There's no jobs out

there. There's nothing. We were

promised so much. We didn't get

anything. It may seem like

health care and Afghanistan

have soaked up most of the news

space in the US in the last few

months. There's another story

that dominated the politics of

2009 - the economy. After four

quarters of decline tentative

growth has returned in the last

half of the year. Home sales

are up. Unemployment has topped

10%, the rate of job losses has

begun to slow. But no-one feels

confident enough to call the

crisis over, and there have

been some hard lessons for

everyone along the way. One

thing that we have learned for

sure is that our financial

system is a lot more fragile

and has the potential to be

unstable in ways that we hadn't

understood before. The question

that is now being asked is has

that lesson been learnt where

it all began. The concern that

it hasn't stretches from here

all the way to Pennsylvania

avenue in Washington. After

more than a year of crisis and

uncertainty, there are positive

signs that the any is starting

to pick up. It's hard to find anyone that thinks the system

itself is out of danger.

According to the President Wall

Street doesn't get it. It's an

easy political shot. But

there's plenty of analysts who

think he's right. From his

office at the top of New York

University's Stern school of

business Thomas Coley can't sea

Wall Street, but he is

increasingly concerned about

the return to business as usual

by big investment firms, some

that have paid back the

taxpayer bail out money are

preparing to dole out big

multibillion bonuses. If we say

we are going to come in and

bail you out if you engage in

risky activities, then you are

encouraged to take on more risk

and with more risk comes higher

rewards, salaries, better

shareholder returns as long as

the system doesn't collapse,

and then if you get too far out

over the edge, the taxpayers

will come and rescue again. So

they like that system. Very

well. It's like being

subsidised to build your house

out in the bush where you might

get burned out by a bushfire,

but if somebody else is paying

for the insurance, why not. Why

not ? Because the President

says change is coming. I did

not run for office to be

helping out a bunch of, you

know, fat cat bankers on Wall Street. With the healthcare

Obama Administration is about bill now out of the way the

to move through the list of

stalled Legislative business.

The banks have been lobbying

hard against it, but a

financial regulation bill is

expected to come to a final vote in the next few

months. Why is it that people

are mad at the banks? Let's are mad at the banks? Let's

see. You guys drew down 10-20

million bonuses after America

went through the worst economic

year it's gone through in

decades. And you guys caused

the problem. We have 10%

unemployment, why do you think

people might be a little

frustrated. The Bill is being

described as the most sweeping

rewrite of financial

legislation since the Great

Depression, among other things

it will allow Government to

dissolve huge globalal banks,

regulate the derivative trade

and give shareholders aers a

greater say op pay. Not

everyone believes Wall Street

should shoulder the blame When

you paint an industry with the

blame bus you have to be

careful. Todd Harrison was a

Wall Street trader for 20

years, these days he runs is

financial media company and

says the culpability extends to

the policymakers who were

explicit. It goes back to

the.com crisis in 2000. He says

the markets need to be freed up

to do what they do best, weed

out the bad debt. It's

Darwinism in its purist form,

it's punish those that

transgressed. There has to be

that. When you open the can of

worms of introducing these

bailouts, where do you stop?

There-in lies the hazard. There's a difference between

being a policy maker and

playing the role of

god. Analysts warn that there

is still a big credit risk in

the market. The mountain of

debt associated with the

leveraged buyout activity that took place in the past few

years is yet to be financed. We

haven't seen how the system

deals with the private debt.

Public debt is a worrying

issue, all of it is making the

US economy seem as fragile as

ever. Most of the world

recognises that right now the

US is on an unstanable fiscal

path. Sooner or later we have

to get on a suss takenable

fiscal path or lose the it was

of the rest of the world. That

is a problem that has to be

addressed and it hasn't been addressed. I think Mark Twain

famous ly said history doesn't always repeat but it often

rhymes. We have to learn from

the past or we'll repeat

it. Michael Brissenden with

that report. China is on the

way to becoming a super power

in the decades again. Actions

at home and abroad are under

the microscope. China's role in

the breakdown of the Copenhagen

climate talks is a hot topic of

debate, with a British Minister

saying it hijacked the summit,

holding the world to ransom to

prevent a deal being done. That

may overstate it, but it's

clear China is leading the

developing world to its model

of Government, especially the

demand that country's not

interfear in internal affairs

of others, made clear with the

excuse of a British drug

smuggler who was reportedly

mentally ill. It caused an outcry. Cambridge Professor

Stefan Halper believes the West

may be losing a battle of yxedz

I spoke to him from - ideas. I

spoke to him from his home. Was

the way China believed in the

Copenhagen a siften what we can

expect in the future. In some

way it is was, it was an early,

interesting indication of

company china's rise, and its

powerful position on the global

stage. We have all known that

China is emerging as a major

economic and not to say

military power, but we hadn't

seen the point at which China

came to represent the interests

or the views of a large number

of developing nations which

were quite different from the

views of the United States, and

the major industrial

countries. So is what we are

seeing a rejection of the

Washington economic consensus

or a reb jection of ideas of

enlightenment, China's model of

governance. That's right. I

think that there's a lot of discussion in Washington today

about China rising as a

formidable economic power which

cannot be controlled, or a

formidable military power, but

my view is that in both the

military and economic

dimensions China can be

managed. In the area we are

talking about now though, the

area of exporting a type of

Government to the third world,

a market authoritiarian form of

Government in which the free

market is allowed to operate,

but the Government holds a very

firm hand on political activity

in the country, so you do not

have an open public square, you

don't have the right, freedom

of assembly, of belief, you

don't have political parties.

Countries around the world,

frankly, Egypt, Indonesia,

Malaysia and others look at the

Chinese example and see a

country which is growing at 9%

or more, which has managed to

control its media, its

legislature and dissident

voices and has achieved global

prominence. And leaders of the

other countries say to

themselves, "Gee, you know,

maybe I can do that too, with

the country I'm running". So

China actually has advanced a

concept of governance which

poses a battle of ideas. China

is showing, as it were, a path

around the west. They don't

want a confrontation so much as

they want to provide an example

of how you can be successful

without having democracy, so

this path around the west has

the effect of making the west

less relevant. Of shrinking the

west in effect. Central to the

Chinese model of Government is

the idea that you don't

interfere in another country's

internal affairs. That can

cover a multitude of sins,

making it almost impossible to

reach global solutions. It

really can. If you - for

example, if you go back to the

first question you asked about

the global climate conference

in Copenhagen, the Chinese

said, "We will not agree to any international examination of

our emissions, our carbon

emissions levels. We'll tell

you what the emission levels

are. If you don't accept what

we tell you, well, then that's

an insult, and we won't accept

that either". When they said

that, of course, President

Barack Obama said, "I'm sorry,

we are going to have to have an independent verification of

what you claim you are doing,

because if we don't have independent verification, I

can't sell it to my own

Congress". Well the Chinese came back and said, "What you

are asking for is a violation

of our sovereignty", of course,

there is an example of how the

sovereignty argument is used to

cover, as you say, a multitude

of sins. So how do you deal

with China, Kevin Rudd says the

way to do that is emesh it in

the councils of the world and

have it help build the

architecture of stability. I

think your Prime Minister is

broadly correct. In the sense

that the alternative is to

confront China and to demand

conformance to a set of

standards that the West may present. And our experience has

been that that is not very

effective. And certainly now

that the Chinese economy has

become so powerful, and they

hold two trillion of hard

currency reserve. They really don't have to take instructions

from us. Most of all, we have

to be very cautious about this

Chinese export of an

alternative model of

governance, which threatens to

draw great support around the

world and potentially isolate

the West in global councils.

You can see it happening. Look at the World Health

Organisation, or votes in the

United Nations on human rights.

Or votes on issues of Taiwan.

The African countries fall into

line very quickly because all

53 of them are doing business

with China. Many of the

countries in the Middle East

will fall into line quickly

because they also have massive

investments from China. China

is very clever about mixing its commercial investment with its

foreign policy, and its

strategic objectives. So,

Professor, how does the West

then defend the ideas of the enlightenmentle? This is an

important issue, the

enlightenment lies at the

centre of our views of

governance. We believe that the

individual reaches his maximum

potential by participating in a

Democratic process. That

political parties are essential

in order to represent the

interests of a full and vibrant

society. We believe in the

sanctity of the individual and

the Government's responsibility

towards the individual. So this

is a - this is a political

marvel which has generated the

most dramatic progress the

world has ever seen in the last

2.5 centuries, and we ought not

to be at all shy about the

strength and inherent benefit

of this form of governance. But

somehow we have failed to

communicate this in this

troubling period. To the third

world. We haven't managed to

get third world country leaders

and populations to accept the

importance of political parties

and pluralist Government. It

seems to me we ought to be able

to do that with these new forms

of communication, with cell

phones and Internet and email

and twittering and so on. It is

inherently a demock retising

process. Professor Stefan

Halper, thank you. My pleasure. Long already

'Masterchef' Tony Bilson was

the first Australian cook to

enjoy celebrity status. A

phrase 'cultural cringe' was

more common than 'cultured

cuisine'. Later this month he's

bringing a team of French chefs

to Australia as part of a food

festival with a twist. Jo

Townsend caught up with the man

who takes his job asedly ever

Statesman of an industry very

seriously. When food is prepared it's a celebration of

the beauty of that food. An egg

for me represents a for me represents a perfect

form. And if you are going to

cook it, then you should maintain that appreciation, the

appreciation of that beauty. An

egg, because of its form is a

special thing. Perfect form in

the kitchen saw Tony Bilson

become Australia's first

celebrity chef. Tony was the

first one to bring really,

modern French cuisine into Australia. Restaurants that

sort of defined what Australian

cuisine is, and still will

be. But it wasn't always a

three-hat career choice. When

Tony started cooking the

restauranteurs life was not

quite as prestigious. When I

first became a chef my family

thought I was nuts, it was not

the done thing, I was

condemning myself to a life of

abject poverty scrubbing

dishes. Abject poverty never

materialised. If it did, it's

long forbaten, today Tony

Bilson is determined to pass on

his title as the grand-daddy of French Australian cuisine,

later this month he's hosting

three world famous French chefs

for a series of master classes

for the general public, part of

a mission to transform the perceived culture of Australia

and its food overseas. My role,

I guess, is to translate my

passion for gas tron omy as an

essential part of culture. Next

year he'll return the favour,

by taking six of our best and

brightest, like Sydney's Mark

Best, back to Paris. G'day Mark. There's a history of what

happened in Australian cooking

from - that's really a

progressive mentoring. Mark is

what I would regard as a generation of chefs after my

generation, he had the

privilege of working in Europe,

with some of the great chefs in

France, which I didn't. And

then there's another generation

that he's taught. We had

you. I hope I add, a bit of

inspiration. Sizzle that

up. When I was an apprentice I

was reading about Tony Bilson,

trying to save my wages to eat

in his very expensive

restaurant. The mentoring

program has to go on, it is a

circle. I love the fact that we

are going back to France and I

think it's lovely to be able to

tell our story, and what we

have done with French cuisine

in Australia and take it

back. Mark Best is also what

you call a high achiever. How

is lunch? His restaurant

Marque has been opened 11

years. The 'Sydney Morning

Herald' named him Chef of the

Year twice and Mark has been

awarded three chefs hats, three

years in a row. Fresh crabs, we

steam them every day. From that

a beautiful liquor comes out of

the crabs... Now he's every bit

as successful a chef in his own

right, he looks to the likes of

Tony Bilson, and his leadership

in the industry Cooking is a

skill. Especially at this level

it's about the mentoring and

the most skilled practitioners

passing it down to other

generations of chefs. It

doesn't matter how successful

you get will you always need a

mentor. You'll outlines near

heroes no matter how old you

are. Today I look up to people.

I can't believe I'm having this

conversation with Tony, because

Tony was one of my heroes,

since I started cooking. It's a

little surreal. Always. He's

also serious about his

responsibility to the next

generation of much younger restaurantureses. Every day we

bring in young guys, and

hopefully they'll stay with you

long enough to- for you to pass

on your knowledge and

experience to them. That's the

ongoing process, it never

stops. Back at Bilson's, an Australian first true

'Masterchef' says cooking on TV has certainly given the Australian industry a

much-deserved leg up, but the

celebrity chefs it creates

won't be around for

long. Television has very short

life spans for that celebrity.

I think that the real celebrity

comes in with people like Mark.

His restaurant has been going

for 11 years, that's a long

time. He had three hots for six

years, that's a long time. To

do what he and others are

half-a-dozen outstanding doing, that's fantastic. Taking

restaurant owners to Paris is

Bilson's way of telling the

world that our chefs and food

industry is world class. And

that our Cullin airy expertise

can stand comfortably alongside Europe's.

Europe's. Tony thinks he's

leaving Australian gas tron

omers in good hands, the next

generation of young chefs The

young have a wonderful world

open to them. Young chefs can

look forward to a really

fulfilling professional life,

one where they are held in high

regard within the society. That

offers a great deal of creative

scope for them. That report

from Jo Townsend. Argentina is

home to two of the world's most famous deftination, the spectacular Iguazu Falls, and

the Patagonia in the deep south

and home to Diego Maradona,

soccer legend and the tango,

it's this passionate dance that visitors flock to see in the

capital Buenos Aires, ABC's

Eric Campbell visits one

institution in the city where

tourists can revel in nostalgia

and embrace the local culture.

Buenos Aires is a city that

takes pride in its cliches. The

Paris of the south. Latin

America's most European

capital. A place of passion,

beauty and, of course, tango.

There's one place here that,

to me, epitomise s the history,

the faded grandeur and

bittersweet life of Buenos Aires.

It's called Grand Cafe

Tortoni, a landmark restaurant

built in 1858 in the style of a

Grand Parisian cafe. The

atmosphere is pure belle pop.

The 19 century golden age for

bow homians and patrons. The

manager Alberto has worked manager Alberto has worked here

for 52 years.

Buenos Aires was modelled on

the great capitals of Europe,

sweeping boulevards, imposing

public buildings and majestic facades, and Cafe Tortoni was

the place to be seen.

Not just for the rich and

powerful, but for artists,

singers, and poets. Roberto's

regulars included the great

novelist Jose Borgos.

These days there's the

occasional famous visitor, a

Clinton or two, and the odd

famous royal. Like much of

Buenos Aires r the grand cafe

clings to life as a faded

museum. Today's patrons are

more likely to be tourists than

tortured artists. Ornate nooks

and crannies aren't sketched in

notebooks, but flashed on

postcards. It's nice. It's

nice, people come here, this is

important. It's nice to have

them here. The fact is few

locals can afford the prices

here. In 2000 the Argentine

peso collapsed. It's been hit

hard by the global financial

crisis . But people still

treasure the remnants of a

grander past even if they can't

afford them. Julietta Linus is

one of the few Buenos Aires

locals that come here

regularly. They like to think

of themselves as this, they

like people to see us as being

this. But not many Argentinians

visit this place. Almost all

Argentinians are descended from

old-world immigrants, once

described as Italians who speak

Spanish, dress French and think

they are British. The residents

of brairs, known as portenos,

or port dwellers see themselves

as a cut above the rest. More cultured,

cultured, more European or as

many rural cousins would say,

more arrogant. They love it,

there's something about

it. That makes some par tennos

think they are better. Is there

a touch of that sense of

superiority We, "We are so

lovely and culture ed, writers

come here, we are smart, yes we

are", definitely. It embraces

that idea, it represents that.

Twice a nite the Tortoni

showcases what brairs is best

known for - tango. - Buenos

Aires is boast known for -

tango. It's the city's

quintessential art form,

brooding, sensual, passionate,

developed in its brothels to entertain waiting clients.

Against, it's a piece of

nostalgia that bears little

resemblance to reality, the

audience foreign tour groups

watching a show about the Cafe

Tortoni, where actors pretend

to be the audience. But it's a

reassuring myth the city continues to cherish. A

constant in an uncertain

world. I didn't know what is

going to happen. In Argentina,

you never know. We are always

falling. We are used to it. The

porteno are used to, you always

see them like this. They are

used to it. In here, at least,

you know nothing changes. No,

here, always the same. Nothing

change, it's another world.

change, it's another world.

That report from Eric Campbell

in Argentina. That is the program for tonight. Depending

on where you fall in the office

argument, the decade or the

year, I'll leave that argument

to you, have a Happy New Year,

we'll be back at the same time

tomorrow, for now, goodnight.

Closed Captions by CSI

CALM MUSIC We're approaching one of the most magical groups of islands in the world.

The Cyclades, also known as The White Islands. It was here 3,500 years ago that the mysterious people from the East arrived.

They brought with them their culture and their gods. Who knows why they left the mainland?

Maybe war or natural disaster meant they needed a new home. Or maybe, like the millions who come each year today, they just heard that this place was paradise on earth. MAJESTIC MUSIC