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tv   British-- Hearing  CSPAN  July 28, 2013 9:00pm-9:41pm EDT

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>> the first lady reflects the schism in the united states about where women are supposed to be today. we suppose be mom in chief? or first mate? -- at to navigate that the president is supposed to be head of state and head of government, is the first lady supposed to be the ideal fashionista must work warm on in chief? or first help mate? that means she really has to understand what is going on in the administration. she has to understand seven what is going on in the country and her husband's political agenda. you cannot really separate how the first lady presents herself
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and the conflicting expectations that the country still have for working wives and mothers the >> as we continue our conversation on first ladies, historians and others talk about the role of the first lady and its move from traditional to activism on behalf of important issues and the transitioning from public back to private life on monday night on c-span. inthe british parliament is recess for the summer. members will return in september. on thursday, members in the house of lords talk about the economic future of the eurozone. earlier this month, david cameron sought to secure additional cuts within the budget. even though the uk is not a part of the 17 member euro zone, and is a part of the 28 member union.n
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this and 35 minute portion of the hearing. >> i will start by asking for your views on the current state. do you foresee an indie game sometime in the future quit work what would be -- a feature? what would be the ingredients? predict the end -- it is fair to say that progress has been made. -- slow.en slow area if youhink it is genuine look at the market reaction since last summer in terms of interest rate. have -- [inaudible]
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ago.i would say a year dossiers invarious terms of banking have something to say about this. at the beginning of this time last summer weather banking -- banking was likely to make progress at all was not certain. we had an agreement of the mechanisms. feww weeks ago, after a late night sessions, we had an agreement on the resolution. the proposal for the single resolution.
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parts are slowly but surely being put in place. the consensus around -- [inaudible] with the degree of variation around us, it would be a rush for me to predict that all is well. >> just sticking with the bank and the union for a moment, what about the common depositors? >> my discussions, i sense that goodwillcautious toward these measures across the
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eurozone. it is cautious. the interest of the united states are engaged in different ways. particular, and the banking recovery resolution where it was a fascinating set of discussions in which we had. different characteristics of the banking crisis. and want to have different arrangements. patients -- some patience for these arrangements to come together. >> many are looking for members
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to -- and certainly, there have been models with the handling of the situation. be aodel would description. in another case, the agreements timewere reached took some and we have certainly objected but came together and sometimes the government and the need for repeated counsel does not necessarily equate to a model. ofreflects the complexity different interests. >> do you think we have reached the stage where they can be a proper assessment of the eurozone?
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that -- there is an understanding in the eurozone oft needs to be a clear view the risks and legacy. i think there is an understanding. that will happen. >> do you think the structure put in place in terms of supervision and resolution and no common depositors insurance is strong enough to take a genuine look at the assets of those banks? >> it is not clear yet. that has recently been agreed that has not taken effect. these things will have to mature over time.
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the institutional arrangements will require some degree of confidence. [inaudible] >> i would be happy to add a little bit. clearly, the key is to check the mechanisms for financial stability and as the government has said repeatedly to end the vicious cycle. bank debt and debt problems. there are a number of ways that can be done. increasing the quantity and quality of bank capital is one. thelegislation establishing supervisory mechanism which is an enormous step forward.
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important new assessmentsr making for those member states to participate in banking union. that is the important directly -- that can and they will come back. and the implementation of the bank recovery resolution directed. clearly it is in the path with the benefit which we think within europe and elsewhere in the world. it could be more robust. we are moving toward a situation
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where we had a much more robust mechanisms to deal with. and the government would be key is asure that future clear and transparent as can be. back?ld you like to come euro, you seethe these mechanisms. we have seen to the forgotten about problems. in termsn description of evaluation continues to produce a negative growth especially among the young. it seems to me that the theuation underlies economic problems is manifested.
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to political problems. >> you talked about competitiveness. ask for -- [inaudible] to finish your replies, that would be very helpful. he has just been mentioning competitiveness. confusion bit of between increasing competitiveness within europe as a whole and individual countries. some countries are not doing as well as others. they can become less competitive. particular, the youth unemployment and especially what
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we are seeing in spain. we are sick more within the crisis. -- seeing more within the crisis. it is spreading. mentioned they disaster. would be the repercussions of that? [inaudible] it?hat degree is >> they are very much related. it is clearly having a more resilient financial system within the eurozone.
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possibly the uncertainty in the interest rates. i think it is undoubtedly the case that the local markets have some concerns. [indiscernible] the dossiers have been to address that. i do agree and it goes back to the matter that there are aspects beyond financial disposition fiscal that is incredibly important for competitiveness. i served the conservative party, william
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speech to997 made a the cbi. countriesropean needed to tackle head on unless they cut social cause and free the labor market, they would be out price and outperformed by the rest of the world. unacceptable levels of unemployment would exist. the luxuries that europe cannot and the danger for britain is not that we will be left behind europe but europe would be left behind by the rest of the world. on these matters, across europe whether it is the united states where the eurozone, these aspects of competitiveness needs to be addressed. in many cases, i think the measures are to be taken by individual members.
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countries have known a flexible labor market. the difficulties of recent years , we have been able to increase , youth unemployment much higher than we would like is still much lower in other countries. a reflection of our labor market. also a reflection of domestic as a focuses such have been made on apprenticeships. and there are some changes that have been proposed. in the european investment bank, there are discussions around making it easier for medium-size enterprises to access some of the funds associated with
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employment. something that something across europe. -- we want the discussions over easter that resulted in unacceptable proposals for everyone. lessons need to be learned. ofwas very interesting to me being in brussels negotiating to solution. how important it is and to send that ensured others we would be protected if they
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guarantee is dependable. it is part of that directive. but i think it also shows the need. underlying the pace of discussions of resolution recovery that this was that it period of be in a uncertainty that existed for so many weeks that cost of banks to suffer. banks to suffer. have been learned and are being learned. >> [indiscernible] -- is that true?
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you can no longer take money out and invest in other parts of the eurozone area >> the capital controls must not be for the reasons you said included in absence of a single currency. anywherepend the money just in the eurozone or around the world. great requirement for every body to understand that the controls need to be removed and temporary. you may not know because we have not had the chance to describe because it's not a formal european matter. eurozone wet in the didn't join the crisis to offer
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significant technical experience. helps there for a while to . we put in place some toangements in this country deal with the banks and here that uk customers that are london-based banks. to make sure they do not suffer any detriment. it is an area where not withstanding our nonparticipation in the resolution arrangements being part of the eurozone, we didn't take a close interest in what is after all an ally of ours. which is between our two countries.
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identify any continuing problems there? or are they on the way to recovery? is aything that portugal difficult position. to comment once other matters. that is why i should not to do that. [inaudible] but although i tend to agree with your description, it is do -- wertant that we should once to do -- what to do
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everything we can in that it does recover and stabilize. important for the whole of the eurozone. productive member . in terms of the portuguese people, they should get over their present difficulties. [indiscernible] international monetary, the brussels commission and central- , three major institutions on which the stability of europe ,ncreasingly -- in one case they actually signed off. they actually signed off on a
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proposal to raid the bank lessits of depositors with than 100,000 euros. corrected two was or three days later, that error in removing-- echo confidence in when the parts of stability. you said britain was quite involved. this?u say you cannot do involved,said we were it was the aftermath of that to of theth planning resolution of the banks. eurozoneot part of the
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. in fact, as soon as we knew and it was from -- the has said there are guarantees to depositors. we, in every possible way we have been consistent. i do agree with you. it could be dangerous. i think two things provide some confidence that impression may not last. the first is the proposed
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agreement. it did protect to ensure depositors. what is very present in the discussions of the recovery resolution where there was a that wasew coming out important to send a message to the market and to the world of their protections of depositors. >> what has been -- of the trike rica?- t it is inexcusable. int confidence can we have trica? can we some way ensure that it
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performs in the future? >> we need to use the interest we have to ensure that it does. it does not just around the world. you would reflect it is important to the i am, it should be -- that the imf should be part of the discussions. [indiscernible] reflecting, there are many dossiers that remain to be negotiated create the lessons of will not onlye been recovery resolution but a single resolution mechanism. what constitutes a resolution? it needs to be informed by what for the mistake that
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was made during that time so they cannot just be avoided in the future but the confidence that they will not fall into that error. question.t the job index. think is the progress that is being made? they are talking about diluting get. it it not the fundamental conflict -- is it not the fundamental conflict? [indiscernible] an obligation to the banks for sovereign debts which has been guaranteed. how do you see this developing?
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distinctionhat between theting two. we will see in october. >> it is further evidence of the abuse of being able to take a tuneup. and ask on that. it reflects on the discussions that we have had that the progress towards banking the link -- is breaking the between sovereign and banks. it is not going to be made through a single initiative or change. various components of banking are themselves a risk.
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a have started with resolution and there are others to follow. an answer toively this problem. within each one, there are questions that need to be resolved. not the least among them is of the eurozone. those we discussed in this committee before. of -- the legacy or about arrangements for the future. it is clearly an important one. it has not been resolved. it will be a major part of discussions through the months ahead. question ofthe dilution versus interruption of breaking, i would see it this
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way. i would like to hear from you. given there is not a single initiative that is going to do this altogether in one respect. proposal andferent agreement has been made constitutes a dilution towards a destination of a separation. [indiscernible] if you dilute, you have not broken. this might be a danger of using an analogy. >> dangerous water.
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>> you already mentioned resolution mechanisms. what are your views on how it should be assigned? and would you agree -- [indiscernible] ideasal authorities or that they might be granted the path? would you agree with the germans? are inn, the discussions an early stage. point, it will be through letters and discussions with this committee as we form our view toward the proposals. i think to point i would make. one is to reflect on the road of commission. some cause for
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concern of this capability of operating sometimes over a weekend decisively was demonstrated there. >> how much are we going to have? are you forcing your concerns about it? >> [indiscernible] the discussions, this might be one of the areas. the discussions where we were formulating bread lines -- red lines in the position. sometimes we want to do that is to not get a totally copper his review of that.
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sometimes people would think we do not come forward early enough. -- and not to get a totally comprehensive review of that. >> we are. i findthe features that gratifying is him and discussions such as this -- even in discussions such as this we are engaged. [indiscernible] let me ask this point. you that we are fully involved in the discussions which are taking place between member states in brussels on the appropriate
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design for the srn. clearly to decide a banking resolution in our area and decisive decision-making arrangements. been involving both --s in detail and as europe's major largest financial center is a constituent for us to support the objectives without joining -- joining it as protecting our interests. to give you a sense of some of the questions and the discussions which are taking place area as you mentioned, there were big questions about decision-making in finance that should be transferred from the
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.ational european policymaking we are very concerned that any mechanism needs to work and works for the eurozone and also for us. and to work, it needs to be accountable to national parliament to produce big decisions. itwhat point and how you do and to get the certainty is that we need as trading partners that euro zone countries and need as well. it has to be on a rocksolid. we are looking at these issues from a policy perspective and a legal perspective. it is very, very early. but i think we can say already that a part from the legal there are two
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particular issues that we will be focusing on. will it work? would andly, how work?ism 120ally it might look like alsot is more like -- questions about if it goes forward how the commissions and this proposal would fit with the other obligations? >> the british house of commons is in recess for the summer. prime minister questions return on september 4 live on c-span two. you watch this entire hearing on .ur website at
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>> political analyst charlie cook looks at the 2014 election. q and a with jack doyle, founder of pop history did. to see a british economic hearing the uk relations with the european union. >> now charlie cook the publisher of the cook report. he looks ahead at the 2014 collections and how they might affect the majority in the house and senate. the presidential candidates for 2016. he made his comments at an event on tuesday hosted by the national journal. this is one hour and 20 minutes. >> since this is the first one of these for the season, i thought maybe we would just sort of step back and sort of think
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about maybe how we ought to look towards 2014, and i think one way of thinking about it is a sports analogy. you know, whether it's before a baseball or football or basketball or soccer or hockey season, you know, you kind of look forward to the season and you're not sure how each team is going to do, what the season's going to be like. you don't really know for sure. and somewhat painfully, we know that the washington nationals were, according to "sports illustrated," world series contenders this year and we're, you know, struggling to get up to .500, we didn't -- you know, we overestimated a little bit how the season would be. that's the way it is right now, i think, midway through an odd numbered year in terms of the next election. we don't really know what the next election is going to be about. we can have theories, but, you know, we don't really know, and what we have to do is sort of
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watch certain metrics to try to tell us, you know, is it going to be this kind of election, that kind of election, or something entirely different? and i think quite a few of you probably heard me tell the analogy -- i remember tip o'neill used to talk about all politics is local. and while i have an enormous amount of respect for speaker o'neill, you know, my variation of that or what i think he meant, is you know, a state, a district, what kind of people live there, what are the voting patterns there? what are the local issues and circumstances, the candidates, the campaigns, the money? you know, using that formulation, every house race, there are like 435 stove pipe household races or 33, 34 senate races. but my variation of that is, i think all politics is local except when it's not. i realize that's not terribly profound, but the thing is that sometimes we have these weird years when all politics isn't
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local, and where there is like a mysterious hand, invisible hand that's pushing the candidates of one party forward and pulling down the candidates of the other party. i mean, you can't tell a republican in 2006 or 2008 that all politics is local. you couldn't tell a democrat in 2010, with the kind of undertow that was out there for democrats, that all politics is local. and sometimes they are and sometimes they're not. and so that's the first, is it going to be a microelection, all politics is local, or is it going to be a macro, where there's that invisible hand pushing one direction or the other? and then you can say, ok, well, what do we think the dynamics are going to be in 2014? for me, i can come up with two different scenarios, not in any particular order. first one is the dynamics of 2012, the problems that republicans had in 2012, just
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simply pulled forward into 2014. the other one is that this is a typical, becomes somewhat of a typical second term, midterm election, where we know the presidents typically have sufficient times during their second terms, and that this is a typical second term, midterm elections, where democrats have real problems, or it can obviously be something entirely different. let's sort of look at those two things. we know that looking back in 2012, and it's sort of still at the top of a lot of our minds, the republicans had real problems with minority voters, with younger voters, with women voters, with self-described moderate voters. do they repair their damage? do they fix that in time for 2014, sort of yes or no. and obviously we're, you know,


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