14 Burst results for "Karen Middleton"
Monocle 24: The Briefing
"karen middleton" Discussed on Monocle 24: The Briefing
"Plus, Fernando Augusto Pacheco is here to bring us the latest on an international rouse simmering after the racist abuse of a Brazilian footballer. What's the latest, Faye? Hello, Tom. Indeed, this racist abuse of Vinny Junior is threatening a diplomatic dispute between Brazil and Spain. More on this later. And we'll be checking in and talking film with our correspondent in Cannes too. Action ahead here on The Briefing with me, Tom Edwards. India's Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese have announced a migration deal following talks in Sydney. Its aim is to promote economic cooperation by allowing the mobility of students, graduates, academic researchers and business people. The Prime Minister has also called for closer bilateral defence and security ties with Australia in the face of China's growing influence across the Indo -Pacific region. Well, joining us for more on this now is Karen Middleton, the Saturday paper's chief political correspondent in Canberra. Good evening to you, Karen. Good afternoon from London. Bring us up to speed. Tell us about your take on the significance of the two leaders meeting and what they've been discussing. Well, the background to this, Tom, is that obviously the Quad meeting was meant to occur in today, Sydney in fact, the meeting between the Australian, US, Japanese and Indian leaders. But unfortunately, because President Biden had to return to the United States for domestic reasons, that meeting didn't go ahead here and they had a meeting at the G7 last week instead. But Prime Minister Modi went ahead with his visit, which is in conjunction with the Quad. And it's been quite interesting to watch the reception for a Prime Minister who's as popular as Prime Minister Modi is here in Australia. And the reception was quite amazing yesterday at the arena, the Kudos arena in Sydney. They had 20 ,000 people there. So the politics of this is that there's a very large diaspora, Indian diaspora in Australia, a hugely growing population of expatriate Indians who've moved to Australia. So it's a politically significant population, both for the Indian Prime Minister and for the Australian Prime Minister. And that's the domestic politics. But there are obviously both global and regional politics at play here as well. Yeah, for sure. And just on that point about the diaspora, I guess one thing that an observer certainly over this side of the globe, a question that it would prompt me to ask Karen is why have these negotiations been seemingly so complex and certainly so long running with that diaspora, the enthusiasm, as you said, for Modi, it seems slightly odd that it's taken so long to make this kind of announcement. It surely was more of a Dundee, or no? On the migration agreement? Well, across the piece. And we'll come on to what the broader ties might look like. But on both counts, is it just because migration is such a kind of political hot potato? I think there's always complexity to migration agreements in particular, because they do have implications for the domestic economy at both ends. Australia is really in dire need of more workers, because of the closed borders through the COVID pandemic emergency phase. We have had very little to zero migration for at least two years, and we're now desperately trying to get people into the country. So that has given impetus to a migration agreement with India. But I think these things are always negotiated carefully, because you want to make sure that you're getting people with the right skills. And so they've created a special visa category. And it's clearly taken a little while to bed down the details. But there's also the thing that you want things to announce when there is a bilateral visit. So sometimes things are held over a little bit to be announced when the two leaders are together. Having said that, they've met six times in the last year. The Albanese government's only been in office for 12 months this week. And he's had six meetings already with Prime Minister Modi. So you can see the rate at which the relationship is developing and the attention that it's being given. And in fact, Prime Minister Modi joked today that the relationship was taking on the character of the T -20 cricket. It's not a test match. It's the fast version. So they're really trying to get a lot of things done, both on the trade and people front, and also then on the security front, which is uppermost in a lot of the minds around the region at the moment in relation to regional stability and the role of China. Yeah, Modi certainly had some colourful language, not just that. He talked about this living bridge between the two. Certainly his speech writers had been obviously working overtime, hadn't they, Karen? Well, let's talk a bit about security and defence, because if we consider what these sort of broader, closer might ties look like, clearly bilateral defence agreement, other security commitments, as you said, the sort of looming presence of China across the Indo -Pacific. Do we have any sense of what some of the flesh on those bones would actually look like, Karen? Well, we don't have detail yet, but there has been a move in recent years, exemplified by the Quad creation actually, to forge closer ties with India. Australia has security relationships, traditional security relationships with the United Kingdom, with the United States, with Canada, New Zealand. These are the traditional partners, and there are security bodies that Australia belongs to, but there wasn't one that really drew India closely in with some of those key partners. And it's obviously geographically very close to China, and it's a huge economy. So there's been a big move to try and get closer to India in a security sense, where we're both democracies, we share British influence as well. So there's a lot in common, and it's a huge trade market for Australia. But in terms of security, there's been a big push in recent years, and particularly in the last couple of years. And we had here in Australia, the government released a defence review in the last month or so that really ramped up relations, or talked about ramping up relations around the region, and particularly with some major powers like India. So we are going to see more military exercises, more military cooperation, with a view to forming a kind of counterweight to the influence that China is seeking to exert on some of the smaller countries around the region, and over some of the contested land and sea. Just as a sort of a sideline to ask you, Karen, on Albanese, you mentioned about a year or so, obviously. What is the report, the 12 -month report card, the Middleton report card? How are you scoring AA so far? Look, I think the government's done reasonably well. The economy is struggling here a bit, as economies are across the world. I think the Albanese government has managed thus far to have the population mostly not hold it responsible for the current economic malaise. People are generally seeing that as circumstances beyond the new government's control. But having been in for a year now, I think that will start to change. So there's been a bit of expectations management going on, and it's been quite successful. But from here going forward, I think people will start to say, well, okay, you've had a year now, what are you doing to make our lives better, to bring down the cost of living? So I think there's going to be some pressure on them to deliver in an economic sense and to make those burdens a bit less. So they've probably done quite well, and he's certainly done quite well on the international stage, starting again with low expectations from the population. So he's probably exceeded them. But I think being a year in now, they might be expected to do more. Yeah, generally easier to exceed low expectations. Indeed. Set the expectations low and exceed them. What is it? Under promise and over deliver. Yeah. Well, that's good. That's good. That's good expedient politics. Karen, thanks. Good to chat with you as always. That was our friend Karen Middleton from the Saturday paper in Canberra. Right now, let's cross over to Monocle's Tom Webb. He's standing by with the day's other news headlines. Thanks, Tom. Russia claims to have killed more than 70 militants as part of an operation to repel pro -Ukrainian groups who raided Belgrade, a Russian region bordering Ukraine. America has insisted it did not encourage or enable strikes inside of Russia. Ukraine also denied any involvement. Former US President Donald Trump is set to face a criminal trial in New York next year on the 25th of March. The trial date will coincide with Mr Trump's campaign for the 2024 Republican nomination, potentially setting up a media spectacle during the primary season. Mr Trump is charged with falsifying business records to conceal a hush money payment to an adult film star. And France has officially banned short haul domestic flights that can be covered by rail in less than two and a half hours. The move is aimed at reducing airline emissions by 40 % in 2030. Those are the day's headlines. Back to you, Tom. Thank you very much indeed, Tom.
Monocle 24: The Briefing
"karen middleton" Discussed on Monocle 24: The Briefing
"And they are a party. You're coming back to the Labor Party that is the gut party of government now. They're a party that is traditionally not being seen as being strong on national security. The Conservative Party has been seen to be stronger. So for the Labor Party, there's a challenge of managing the domestic politics, as well as the international politics and we'll see how they got. Karen Middleton, with the Saturday paper in Canberra, thanks for joining us. Here is monocles carlotta rebelo with the day's other headlines. Thanks, Andrew. European nations, along with Canada, the U.S. and China have all been evacuating thousands of their citizens from Sudan, as violence between the military and the paramilitary are a self continues to escalate. The violence has left millions of Sudanese without basic services and trapped in their homes. The use foreign policy chief Joseph borrell has set her over 1000 years citizens have been evacuated so far. Spain is going to exhume the remains of a fascist leader who inspired the dictatorship, primo de Rivera founded the phalange movement, which was key to general Francisco Franco's uprising. His body will be moved to a Madrid cemetery as part of a government drive against symbols of fascism. And passengers are two major German airports, Berlin and Hamburg have been left stranded due to flight cancellations. Security workers and ground services are holding a one day strike over pay. Those are the days headlines back to you, Andrew. Thank you, carlotta, you are listening to the briefing on monocle radio. Japan's dwindling patients with North Korea could be on the verge of becoming kinetically expressed. Japan has activated batteries of land and sea based surface to air missiles in preparation to shoot down any debris, which may descend upon Japan as a result of North Korea's imminent launch of a rocket bearing the widow hermit kingdom's first military reconnaissance satellite. In semi related news, G 7 foreign ministers meeting in Japan issued a demand that North Korea give the missile tests a rest and think twice about an expected nuclear weapons test one joined with more on this by John everard former British ambassador to North Korea. John, first of all, this thing that North Korea proposes to launch into orbit, a military reconnaissance satellite. Do we know anything about it? Not a great deal. What we do know is in the photograph of the great and wise leader Kim Jong-un, and is equally great and wise 8 year old daughter, carefully studying the assembled satellite, but it's blurred so that techies can't actually work out any of the detail, but is reconnaissance satellite. The North Koreans said years ago that they wanted to develop these things because they say they need to monitor the aggressive troop movements of the United States and the South Korean puppets. And so this will be the first one. Don't get too excited to launch the satellite, you need a working satellite launch pad. And so the North Korean satellite launch facility is a building site. The bitty remodeling it. There's no way it can actually host a launch right now. This isn't going to happen for a while. Do you get the sense that Japan is genuinely worried about debris from this thing landing upon them or has Japan here perceived a relatively cost free way of looking tough where North Korea is concerned because you can put all your surface to air missile batteries on high alert. That looks decisive and robust. And if you do end up having to shoot something down, it's junk from North Koreans won't get too excited about anyway. I think there's a bit of both those elements. Firstly, the Japanese for a long time have been traumatised by was it 2018 went no 2017 when a North Korean misfired and started to drop bits and pieces over Japan, 49, but it wasn't a nice incident and the Japanese had been worried ever since. Secondly, as you say, shooting down bits of debris out of the sky is not going to start World War three. The problem the Japanese have is that their track record in doing this is a little bit flimsy, April 13th they thought a North Korea missile was about to fly over Japan and in fact got the trajectory wrong. It didn't come. Over Japan at all. Secondly, to shoot down a whole missile, yes, and they've got the quick to do that. Shouldn't have done bits of debris which might be smaller which tend to have rather erratic trajectories. The risk is the Japan tries to do this and misses were to be kind of embarrassing. Indeed it would. We should talk about the prospect of this imminent nuclear weapons test, and there is some speculation that North Korea always having an eye for timing may stage some sort of stunt to coincide with South Korea's president Yun sir, who is visiting Washington, D.C. next week. The G 7 have said that there would be a robust response to a nuclear test, what might that actually mean? T he. Yes. A swift united and robust response to the G 7 optimistically dream on, say the rest of us. The international system for dealing with such matters is clearly broken down the Security Council is quite incapable of passing further resolutions against North Korea. Everything is being jammed by China and by Russia and North Korea knows this. So that it sounds good and it's good chest thumping stuff to talk about 50 united and president responses. But really, this isn't going to happen. There'll be the same fragmented response as we've seen two repeated North Korean provocations over quite a long period of time. But do other countries absent action by the UN Security Council, which is unforthcoming or unlikely to be forthcoming for the reasons you mentioned. Do other countries have any either carrot or stick at this point, which is going to adjust North Korea's thinking in any direction. The big one in this is China, which has an awful lot of carrot and an awful lot of stick, and appears to be using it. We were talking a moment ago about a possible 7th, 7th, it will be a nuclear test by North Korea. They've had their nuclear test site ready for about a year now, is it to be sitting there, prepared for a test, but no test is actually taken place. Now, it looks very much as if there were all ready to go with the test, but somebody or something. Stop them from doing it. Now, my money is that they had a phone call from Beijing, explaining what would happen to North Korea if anybody is so much as thought of lighting that blue touch paper, which means that although they would dearly love to have a further nuclear test, not least because they want to make sure that their tactical nuclear weapons work. They know there's a cheating ones do. They are probably constrained from doing so. So that's perhaps a little bit less of a worry than we first thought. To come back to Japan, a country which is extremely sensitive around the issue of nuclear weapons for reasons that require no reiteration
Monocle 24: The Briefing
"karen middleton" Discussed on Monocle 24: The Briefing
"Muller coming up on today's program. We confront the most challenging strategic circumstances since the Second World War. Both in our region and indeed around the world. That's why we're investing in our capabilities and we're investing in our relationships. Australia's prime minister heralds a radical rethink of his country's defenses. Japan expresses further irritation with North Korea's flying contraptions and Brazil's president arrives in Europe to a somewhat grumpy welcome. Later in the show. The plight of what remains of Hong Kong's once vibrant, if not downright rowdy, independent media, all that coming up right here on the briefing on monocle radio. Welcome to today's edition of the briefing with me Andrew Muller, Australia has long regarded itself as a natural fortress, vast remote and offering little in the way of cover all water to any invading force which fancies trying its luck from the north to say nothing of the spiders, but Australia's new defense strategic review released today cautions that the era of complacent isolation is over. It specifically names China as a potential threat and urges a swift and massive build up of long-range missile capacity in particular. I'm joined with more on this from Canberra by Karen Middleton, chief political correspondent with the Saturday paper. Karen, how would you characterize the reaction to this? How is it landed? Well, we're still waiting to hear reaction, but China, the reaction from China so far is low key. I think the Chinese are waiting to sort of see a bit more detail and understand the implications. But of course, China is significant China is the core of this whole defense strategic review. The concern that Australia has about the future of defense in this region is all related to China's aggressive posture. So we'll see in the coming 24 hours, I guess what the rest of the region says and what the rest of the world says. We've only had this out for probably about 8 hours so far. Because Australia, of course, in the last few decades, in particular, has tried to trade a path between staying on the or within the U.S. led defense architecture while maintaining a friendly and very profitable trading relationship with China. In that context, how much of a departure is Australia just coming right out and saying China is what we're worried about. Well, Andrew, the departure occurred a little while ago and we had this very testy relationship with China for some years now officially. But Australia's last defense strategic review in 2020 talked about the concerns about the threat in this region. And the fact that the waiting time or the warning time that we're used to assume we would have over decade before there would be conflict that we would have time to prepare for conflict no longer carries that we don't have that ten year warning time anymore. So that was the case back in 2020. This sort of steps that up even further. I haven't counted yet the number of times the word urgent was used in the review, but it was a lot and they're talking about the need for agility, the need to defense sorry, the need to defend the Australian mainland and islands, the need to have long range capacity missile capacity to fire on an enemy or a threat from Australia. So that is the change here. It's a posture change. We're not just talking about going off and assisting the U.S. in other parts of the world, like the Middle East that we've done for the last 20 years. We're talking about being able to defend the Australian homeland with long-range missiles and missiles that are manufactured here on shore, which is also a big change. I mean, does that emphasis on long-range missiles and as you note at home built long-range missiles offer any hint as to what kind of form of conflict they are concerned about with China? What do they imagine a potential war might be like? Yeah, well, there's this talk of, well, there's concern about China's aggressive posture and there's concern about its military impact on Australia and its economic impact on Australia. So Australian resources and how they might be affected and in terms of just the general military impact. So the defense strategic review does not, it talks about China specifically. It's very careful about the way that it characterizes the threat. But there's no question that it's China that's talking about. And another dimension to this review, which we haven't seen before, is the threat of climate change. And taking that into account in our defense planning as well. So it's sort of a two pronged thing here, but really the primary active threat that worried about is certainly the threat in north Asia from China, the way it's behaving in the South China Sea and what it means for the whole region and specifically for Australia. And a need for Australia to engage with the region because that's sort of fallen away a little bit. Diplomatically, as well as militarily. So there's a lot of strands to this whole document. Possibly not coincidentally, it has been dropped in the week of anzac day, which is tomorrow, which is the date on which Australia and New Zealand are commemorate their armed forces, but it also arrived in the midst of what I think I'm right in saying is the Australian defense force's biggest recruitment drive in peacetime. They're looking for 80,000 more people. How deep are the worries about just basic personnel numbers? Very deep, and that is a huge element in this review that how are they going to find the personnel to do the kinds of things that they want to do. There is a big concern about doing that. And the defense minister spoke today about not only the importance of that, but the extra imperative, which is that we really would prefer them to be Australian citizens. So we already in the post emergency phase of COVID-19 have got to recruit a lot of workers in Australia because we had an immigration program that ceased for more than two years. We need workers in Australia in every field, but this is a field where they want Australian citizens because it has a security dimension. And so that's an extra concern where are they going to find the people? How are they going to train them in the specific qualifications that are required for this sector? It's a massive concern and they will go on a huge recruitment drive as you say right now. And there is a bit of cynicism around the anzac day eve announcement. The opposition here are saying that they think that's a bit tricky that they think this is designed to tuck in a few nasties and there are some Nazis in this review because there are cutbacks to a lot of existing acquisitions programs, particularly in relation to the army in a refocusing of some money that may be the nasty bits of that are meant to be hidden behind the commemorations of anzac day and we're just giving the general thrust over Australia repositioning for future threats. And just finally, do you get the sense that this government which is to say Anthony albanese's labor government is concerned with how to manage the wider politics of this. I mean, albanese will of course be aware that Australia and indeed it might be argued the Australian Labor Party has a long and inglorious history of China baiting over and above any actual security threat that China may pose. There are many hundreds of thousands of Australians of Chinese descent, Australia is hugely reliant on Chinese tourists, Chinese students, is he worried about stoking feeling against those people. Well, actually, it wasn't the Australian Labor Party that did that in the last three years. It was, in fact, the coalition, the conservative parties that did that in the lead up to the last election. And they paid the price electorally for doing that. Yes, the Chinese Australian community is a significant voting population and has punished the conservative parties for the rhetoric around China. So the incoming government, the government we now have was much more moderate in its language. And in fact, we've seen a thawing of relations with the Chinese since that election. Now, the complication for the new government is to manage what is this difficult defense position that we need to take. This position that clearly flags concern about China's ambitions and where the future lies for us militarily in relation to China and that trade relationship that is just starting to warm up. It's a difficult relationship to manage and this new government has got to try and traverse the complexities of that. And they are a party. You're coming back to the Labor Party that is the gut party of government now. They're a party that is traditionally not being seen as being strong on national security. The
Monocle 24: The Briefing
"karen middleton" Discussed on Monocle 24: The Briefing
"Army Black Hawk helicopters have crashed during a routine training mission over Kentucky. The state's governor said fatalities were expected and at the status of the crew members was not yet known. Russia's top security agency has said a reporter for The Wall Street Journal has been arrested on espionage charges. The federal security service said that even girsch kick has been detained in the rural mountains while allegedly trying to obtain classified information. The journalist could face up to 20 years in prison if convicted of espionage. And Italy's right-wing government has backed the bill that would ban laboratory produced meat and other synthetic foods, highlighting the need to protect Italian food heritage and health. If the proposals go through, breaking the ban would attract fines of up to €60,000. Those are the days headlines back to you, Tom. Thanks, carlotta, to Australia next, where lawmakers have passed landmark new laws to cap greenhouse gas emissions and to make the nation's biggest polluters pay for carbon credits. Well, let's get more on this now with Karen Middleton, who's the Saturday paper's chief political correspondent in Canberra, a good evening to you there, Karen. Thanks for joining us as ever. Just start by reminding us exactly what's been passed into law. Well, it's called the safeguards mechanism and in fact it's a mechanism that existed prior to this week, but the significant thing is a deal between the federal government and the greens party here to give it a bit more teeth. And the way it works is that it affects the 215 biggest polluting companies in Australia. So coal and gas, people, companies that make cement, smelter, manufacturers, and the like. And it's going to force them to reduce their emissions by putting a cap, a hard cap, it's being described as on the overall emissions that these companies can produce and better going to be forced to either decarbonize their processes or bicarbonate credits to keep the emissions down, but previously the limit was on net emissions. So they could effectively bicarbonate credits to get themselves out of jail. Metaphorically speaking, completely. And now there's going to be a hard cap. They will be forced one way or another to reduce. And current is interesting. This is termed the climate wars. It's ongoing battle. And I guess depending on where you stand in that battle, how has this been received or does it very much depend on who you ask? Well, I think we have a much more general view in the community now that something has to be done about climate change. It's been a tortured debate in this country for the last 15 years, really. And we've seen stopping and starting on policy to try and tackle the problem of emissions and greenhouse gases. And we've seen a carbon trading system and attempt to introduce one back in 2009 that the greens effectively stymied, then we saw them agree to a labor government proposition in 2012 to introduce a carbon trading scheme, but when a coalition of conservative parties got into government in 2013, they abolished it. So finally, we have seen steps something put into law that is going to see a downward trajectory on emissions, not enough, but a start. And so I think people are seeing as quite a momentous thing. Momentous, maybe, but as you said, time will be the true judge. And in the context of the broader commitment by Australia, which is to reach net zero by 2050, I think that is still the target. I mean, is that an achievable goal what we see in so many markets is that the end date, the red line constantly gets kicked back and back and back. What's the view in terms of how achievable the current set of goals actually is in the longer term? Well, very mixed because they have a more interim goal than that of the government does and reducing our greenhouse gas emissions by 43% on 2005 levels by 2030. So we haven't got long to get to that. And there's certainly seems to be a strong view that what's being done with this change to the law is not going to be enough to reach that goal. And it's also not going to be enough to reach the international targets of getting greenhouse gases down far enough to stop irreversible dangerous global warming. So while it's a good start, they are going to have to work very hard on greater take up of renewable energy and replacing other emitting. Companies and the like in the economy to really meet those targets. Well, let's talk about some of the bad guys if you like. I use the term under advisement, you know, coal, gas, oil, very heavy industries, lots of extracting mineral production. The big polluters. What does this mean realistically? Because as you say, there's a feeling that despite the war of words, consequential change was always coming, it was more about the pace and how codified and formalized the demands would be. Do you think this is a critical moment of change, Karen, in terms of what the biggest polluters are going to have to do actually now in the shorter term? Yes, I do think it is, and the big argument, of course, has been about the fossil fuel industry. And in fact, what the greens party, which is in a sort of pivotal position in the Senate here now, wanted was they wanted the government to agree to no new coal and gas mining at all. No new projects. Now the government wouldn't agree to that, but there was a negotiation and what they've come up with is this hard cap. The argument being that the impact of that will be that it will be much more difficult to open up new coal and gas mines. And there will be a requirement that they start at net zero emissions. So even if new endeavors open up, they're going to have to start out by buying credits enough or taking steps very rapidly to ensure that they can say they have net zero emissions from the very beginning. And that is generally seen as while not banning projects outright from starting up, making it much more difficult to enter the market and putting more own risk conditions on them that will see their emissions reduced. So I think it is a significant step, albeit not as big a one as the greens might have liked. Yeah, an important day, nevertheless, thanks for making sense of it for us, Karen. That was Karen Middleton joining us from Canberra here on the briefing on Monaco 24. The concierge is a travel show from Monaco brought to you in association with
Monocle 24: The Briefing
"karen middleton" Discussed on Monocle 24: The Briefing
"A real rebalancing of powers going on in this region and concern about what might lie ahead. Now when French officials found out about the orcas deal between Australia, the UK and the U.S., they declared publicly that they had been betrayed. By Australia, what is the status of Australia French relationship at the moment? Have they improved? They have improved a little, yes, you're right. In fact, the former the French president Emmanuel Macron accused the former prime minister of Australia, Scott Morrison of lying to him. He was very passionately critical of that and the way it all played out. Now we have a new government that's been in office for ten months. A labor government, the previous government was a conservative government. And relations seem to have improved. It's interesting that one of the first overseas trips that Anthony albanese made was to France. To kind of reconfigure that relationship with the French president and it seems to be back on track now. So I think the change of government provided the opportunity for a reset with that French relationship. And interestingly, it's also provided a bit of an opportunity for a reset of Australia's relationship with China, which has been very bad over the last few years. We are seeing a foreign in some of those diplomatic relations and the prospects that things might improve there. So perhaps that runs a bit counter to the scary narratives about conflict, but at the moment things are improved on the diplomatic front in both of those cases. That's good here. Karen Middleton in Canberra, thank you very much for joining us today. You are with Monica 24. Silicon of valley bank was the 16th largest bank in the U.S. until last Friday. Now SVB financial group has become the largest bank to fail in 15 years in a sudden collapse that rocked global markets, leaving billions of dollars belonging to companies and investors stranded. Joining us for Maurice susana street sir, senior investment and Marcus analyst at Hargreaves Lance down, welcome to the program. This is Anna, could you have first briefly take us through the chronology of events. This all started to unravel on Friday, right? Yes, it certainly did. In fact, it was Thursday that we really saw the situation escalating. So SVB was considered to be the lifeblood of the tech industry, providing startups with financial services, which some found hard to access elsewhere. And many really had flooded in as founders were able to get a lot of funding from venture capitalists, particularly during the pandemic, when the era of cheap money was in full flow, but this razor sharp focus on the tech industry appeared to be its downfall, but it wasn't diversified across other sectors. And of course, then you had central banks hiking interest rates. And that really caused problems for its business model because to make money, it invested in longer term government bonds to try and make money so invested depositors money in those bonds, which were considered to be relatively safe havens, but the problem was, as interest rates were hiked, it meant actually the value of those bonds fell and as its customers went through a lot of cash during the pandemic and were all post pandemic I should say as the era of cheap money hurtle to an end and there were unable to raise funds from elsewhere, it meant that they were withdrawing money that it came a crunch whereby so many of the customers withdrew money that actually because the company had invested in these bonds. It was going to be short and couldn't actually deliver that money to the customers. And that's why the plug was pulled on the bank. And what's also astonishing is that this bank collapsed in what in 48 hours. Do you think there were signs in the air already before or did this come as a surprise? Total surprise. The rapidity of the collapse, I think, did come as a surprise. But certainly, if you look at just how turbulent the tech sector had been in the wake of a higher interest rate, although there had been some recovery this year. And the fact that it was so highly concentrated on this one sector, there is this feeling that actually perhaps those stricter regulatory requirements, there's a larger U.S. banks have had to adhere to since the financial crisis should actually have also been made compulsory for these smaller banks because this is where the weakness within the U.S. financial system appears to be. Now, there isn't expected to be a systemic risk to larger institutions because they've had to build up their capital buffers since the financial crisis, not just in the U.S., Europe and the UK as well. But obviously, there are continuing concerns about what this will mean for the tech sector going forward. Immediate liquidity concerns have been smoothed out because deposits will be guaranteed in the U.S. and HSBC here in the UK has bought the UK arm. But going forward, just how easy will it be for tech to raise extra funds and also find a place to park their money with that just remains to be seen? How full is the picture we have at the moment about how dangerous this situation could be. Well, what you're seeing is weakness in a smaller regional banks in the United States. The first republic bank it shares have fallen back pretty dramatically in pre market trading by about 60% today. And also you've had the banking banking shares on major indices. They fallen back just as this uncertainty unfolds. Now, I don't think when you sing the share prices of companies like Barclays and HSBC falling back, obviously there will be some concern that HSBC is by the assets of this bank that has made headline news, but actually I think investors are looking about what this will mean for their profits going forward because it could be that they've got a hike the rates that they pay to depositors to savers to try and stop depositors leaving and pulling out their money and putting it in other areas of the market like, for example, in government bonds where they might get higher return. And so they're going to have to try and stop that happening. I said they may have to offer high returns because they haven't been up until now. And so that's probably also why you're seeing a bit more weakness. Tell us more about what governments and central banks are doing at the moment to try to control these situations.
Monocle 24: The Briefing
"karen middleton" Discussed on Monocle 24: The Briefing
"Here is Monaco semicircle with the day's other new set lies. Thanks, Marcus. Ukrainian forces say they are facing relentless Russian attacks on bakhmut, with both sides claiming enemy casualties, the country's president volodymyr zelensky says more than 1100 Russian soldiers have been killed over the past few days. New Zealand has backtracked on introducing legislation to lower the voting age to 16 in the country's general elections. Any change in electoral law requires the support of 75% of parliament members and prime minister Chris hipkins said his government does not have that level of backing. And the movie everything everywhere all at once has dominated the Oscars, claiming 7 awards overall, including best picture and three out of the four acting categories. Michelle Yeoh claimed the best actress award and will hear more about the winners and those who missed out later in today's show. Those that is headlines, back to Marcus. Thanks, Emma. And now the leader of Australia, the UK and the U.S. are in San Diego, California to finally close the August submarine deal, announced in full tomorrow the deal is expected to cost an estimated AU$200 billion or a 133 billion U.S. dollars over three decades to tell us more about what to expect and the background of this historic deal, I'm joined by Karen Middleton, the Saturday papers, chief political correspondent in Canberra, good evening, Karen and welcome to the program. Could you just first recap a little bit through this deal and to what exactly we are expecting from tomorrow's announcement? Well, the basis of this market is that Australia will be buying nuclear powered submarines. Now that's a big change for Australia. We've always had conventionally powered submarines. And it's controversial because we had a deal with the French government to buy some new submarines from France. And under our previous government and the Scott Morrison's prime ministership, that deal was canceled and there was controversy because it was canceled without a negotiation with the French government. They were sort of effectively told after the fact that it was all over. And that was worth very many dollars to the French government. And the arrangement in its place was a deal involving the United States and the United Kingdom to buy nuclear powered submarines. And it's not just the submarine purchase. It will go a lot further than that in relation to technology transfer, but what we are seeing now in the next 24 hours is finally the detail of this. And what's going to be involved is Australia buying firstly some U.S. produced Virginia class submarines and then after that a British design submarine, we see U.S. technology on board. So U.S. nuclear technology and U.S. weapons systems conventional weapon systems. So this is a huge thing for Australia. It's a great big change and it will, as you say, be costing us a lot of money. What do you think of some of the most interesting aspects of this deal we don't know yet? Well, it's a bit hard to say what we don't know. But one of the big questions being asked of the Australian government is a question about sovereignty because we will be taking on U.S. technology, the boats that we will be buying U.S. designed in the first instance. They are created as a sort of sealed unit. So there's a nuclear reactor inside these submarines and it exists. It lasts for the entire life of the submarine, which means we in Australia don't need to have maintenance crews or the reactor doesn't need to be replaced at any point during the life of the submarine. It will last for the full sort of 30 year life of the vessel. But there's a question about who's going to be calling the shots as to where those vessels go and what work they do and whether or not Australia really will remain in control of its own foreign and defense policy or whether it will become further subservient to the United States. Now, our prime minister says absolutely. We will remain sovereign and not be dictated to in terms of our foreign and defense policy by another country. But that is one of the big concerns. Now it's been estimated already that this plan would actually create about 20,000 jobs in Australia. How significant is this figure? How big of a difference could that make? Well, that's being trumpeted that figure quite a lot as you imagined in the last 24 hours because two parts of Australia in particular South Australia and its capital Adelaide and Western Australia and its capital Perth are very excited about the prospect of getting a lot of employment associated with building submarines ultimately initially constructed overseas and eventually built here. And also all the associated jobs engineers, technicians, nuclear scientists, the like. Not to mention the crew. But that is going to be a big question. Where are the people going to come from? It's all very well to say that this will create a lot of jobs, but it's going to require the skills that a lot of Australians don't yet have. For example, if once we buy those interim boats from the United States, the Virginia class submarines, they are enormous and they have a crew of that twice the size of the Collins class submarines that Australia currently operates. So we need to find extra sub Mariners who are a particular kind of naval officer because that is a particularly tough assignment to be submerged for that amount of time and that's one of the reasons they want to buy a nuclear submarines because they can stay underwater for months at a time. So where are we going to get those people from? And then how do we train them up in time to cruel these boats? So there are a lot of sort of animates and questions still and people are wondering how all that's going to work. But the employment figures, the headline figures are very positive. Many questions, indeed. Now, do we have an understanding of what this deal is going to mean for the Asia Pacific power rescue balance? I think everyone is seeing it in terms of China markers. Everybody trades very carefully when it comes to the security of the region and what the prospects are for a conflict involving the major power in the region. But all of our nations defense posture arrangements are being reconfigured with that in mind. Or with that concern. Now, one of the reasons for buying submarines like this that are much more powerful than the ones we have and doing a deal that is costing so much money into the future is that it's a deterrent against a major power threat in the region. It says we're serious. We have the capability to push back in the event that something is going to happen. So all of these things are occurring with the concern around some kind of conflict in the Pacific region and of course China is the major player there, but we're also seeing realignment of security in the region we've seen the rise of the quad so called, which is Australia, the United States, Japan, and India. And our prime minister Anthony albanese has just been in India cementing further trade and security ties.
Monocle 24: The Foreign Desk
Analyzing the Four-Stage Transition Plan by Australia
"Joined first of all by. Karen middleton chief political correspondent for the saturday paper in canberra karen. The theme of this episode is basically how australia now gets itself out of the lockdown into which it has put itself cabinet has just this week announced a four stage transition plan. What does that plan consists of. Well it stopped in the face wary. Now which is trying to minimize. The damage is heavily. Reliant on a system of hotel corn chain and trying to veteran eight people and the latest of the states and territories have now agreed. Values lockdowns lost resort. What the practical impacted. That will be out because really. That's what they say they during now. So we're gonna go from way. We are now we the trial program in this first phase of home by scorn tain the people who've been vaccinated so we starting to say in this parkway a distinction between people who've been vaccinated and people who haven't the second phase is said to be the first vaccination phase prime minister's suggesting without wanting to put fan timelines on phase. Two will probably be next year and part of the first guys to have the number of inbound travelers so the state and territory latest have been complaining that too many people coming in with the joe to strain. That's where we're saying. These outbreaks got at the moment in australia. So the second phase will be increasing those caps again probably next year starting to look at the entry of students and economic as a holders and reducing the number of people in her show corentin in expanding use of harm car chain. They'll also be looking at a vaccine boost program because of the time next year comes around even though he's had the first two shots are gonna have to have another one. Vice ray is what they call in consolidation that ideally would have no lockdowns at all that we would say people moving around freely no caps on returning vaccinated travelers on again the emphasis being on vaccine versus vaccine and in the final phase two bay living with the virus trading virus like any other bars like influenza or anything
Monocle 24: The Globalist
"karen middleton" Discussed on Monocle 24: The Globalist
"Operation that led to more than eight hundred arrests in eighteen countries. We'll to find out how it works on joined by mark galliotti senior associate fellow at the royal united services institute an expert on transnational crime and for an australian take on that elements of the operation. Karen middleton the saturday papers chief political correspondent in canberra is here to give us the lowdown mark if we could begin with you the fbi and other international forces have been working on this for some time. What was the idea behind the sting. Well we've known for some time. Criminals have been taking to various anonymous messaging services to coordinate their operations trying to find ways in which they can talk without law enforcement being over to overhear them and therefore when the fbi had an opportunity for an extraordinary chief. Product was one hundred ninety thousand dollars to basically by this company that was setting up something which is exactly an anonymous messaging service and they had someone who was already involved in organized crime who was basically willing to work with them in return for a reduced sentence. So they just had this. Extraordinarily bright ideas will wide. We set ourselves sell in in effect. This anonymous criminals messaging service and let it run for long enough that we can actually basically be able to watch their communications in real time until we're ready to do these kind of mass arrests which we've seen across the world karen. Can you tell us about the australian and of the operation. You sterling ended the operation as we understand it from the descriptions of it for the last twenty four hours. What they did when they sit that took over. That company was that they built a k effectively into Into the software so that every message that was passed through this encrypted where was decrypted and copied so in real time as you just heard the message is passed and it was australian expertise in an april Bet to occur in australian law enforcement agencies particularly strident federal police were involved in monitoring activities at this end. They've announced that they've arrested charge. Twenty four two hundred and twenty four offenders they say have shutdown seeks clandestine drug laboratories seized seventy two firearms hundreds of kilograms of drugs. Forty five million dollars and swatted. They say twenty-one threats to kill so it was a pretty massive operation and that's just in one country and of course across the tasman he. The new zealanders have arrested another fifty five people and not bought other were involved. Essentially what we have case which nineteen different countries really. It was so seriously involved in operations and guess t to move on. I mean in terms of everything from outlaw motorcycle gang wars in sweden to drug lamps in the netherlands. We've seen this this wrapped up but you're right to raise the issue the geographic spread. Because what's quite interesting is. There are some organized crime grouping similar to talking about the chinese and the russian who all really represented nothing because they had their own particular ways of communication and their own in some cases anonymous messaging. So i mean the risk is that we actually ended up doing is creating little vacuums in which other gangs. We'll basically move in. But why stop. Now i mean if this was so successful and and the fbi on the australian forces and so on could drop in on these compensation solely it's useful to keep it going for awhile. What was the tipping point that said right now. We're going to move in for the arrests. Well this is interesting thing and although we have been certain statements on this nothing yet to me that has been entirely convincing. It suggests to me that either. They felt that there was the risk is operation was was actually going to be blown one way or the other or there was a particular crime which they definitely felt they could not just turn a blind eye to because this is the thing to an extent you can disrupt operations and this is the new buzzwords disruption In ways that don't make utopias is going to be some kind of gang rumble where people are going to die. And they can just happen to be some police. 'cause pulsing at the time. The no one immediately thinks hang on. This must mean that our system has been compromised but sometimes their operations. When the only way you can actually stop going down is by rating them and it could. Well have been one of those situations where they felt. Okay we've had our fun but now we actually have to show our a current. I wonder how this will impact on overnight crime in australia is it indeed. A watershed moment as scott morrison described. It that's certainly the way the prime minister's describing it he's saying that it will put put a big dent in organized crime operations He's been pointing to outlaw biker. Gangs agent crime syndicates. Australian mafia a whole lot of organizations or working in smuggling drugs and firearms and of a criminal activity. So he's hoping that that's the case he's also using it. Interesting to make a political point is a rough more national security legislation before our strike in parliament and also being considered the watchdog committee here examines these things before they get voted on in parliament and the labor. Opposition is a little bit hesitant about some of that legislation. There are concerns that it's too draconian and too intrusive so the prime minister is making a political point with these drug bust effectively and saying look woolcock we can. Do you really going to stand in the way of that. And previous point that he's a mock is correct to say that there was hesitation as i understand it about being blocked the operation being blown. I think there was some nervousness that it was getting dangerous and getting close to the possibility that it would be blind. And as i understand it. The fbi had specific authorization for a period of time for these and that was coming to an end as well as i understand it. So the combination of those two teams will what made the move on it now rather than just stay listening forever and just to pick up on something you said earlier. Are we likely. Then to see a worldwide lessening of this type of criminality following the operation or will the criminals. Just find another way. Oh i wish. I could be short term and i don't want in any way to underplay which has been a stupendous trump against organized crime. But we have to realize that the reason why there is organized crime is depressing enough because there is a demand for their services. There are people who want the drugs. There are people who want the traffic victims and such like and yes unfortunately in the medium to long term those market says underground markets will reassert themselves and others will will come in and they will use new technologies new new ways of working to get round. This most recent Success and they will satisfy that market so long as we concentrate purely on the supply side which is important but unfortunately it's the demand side that keeps a supply side constantly regenerating itself mark. Thank you. that's not galliotti. And karen middleton thanks to both now still to come on the program the genocide conviction as the former bosnia serb military leader. Ratko mladic the butcher of bosnia has been held. We'll hear from a survivor. I was very emotional watching this judgment. Finally after twenty. Five years. I can go back to seventy because.
Monocle 24: The Globalist
Micronesian nations split with Pacific Island Forum
"The pacific islands forum or piff. The pacific talk. Regional body narrowly elected former cook islands. Prime minister henry puna as the new secretary. General well this much discontent amongst the micronesian nations who championed the marshall islands gerald ezekiel's will events move swiftly on and karen middleton the saturday chief political correspondent based in cambra is here to up update us. Karen if we could just start by reminding us of the mandate of the pacific islands forum. What is it. well. Joe generates a group of pacific nations eighteen pacific nations including australia and new zealand. That and it. It's a an association of of of the region. So it's It's a cooperative body. It's not a A governance body. It's got a a broad general mandate And it's about regional corporation so it's not particularly a security body or particularly a trade body but it's about a common interests around the seek and it meets once a year in terms of its leadership to deal with issues that that facing all the pacific countries. It's obviously a big difference in size. Between a number of those countries many of those countries a very very small but other countries like australia and new zealander of illogic so y- there is a disparity in terms of income but a lot of common interest to. What's at the heart of this row. Well they're the region is divided up into into three sections And be the biggest issue here is relating to micronesia which is a clutch of islands that were operating as a book. These smart asia polynesia and melanie asia and the idea generally his bane that the leadership of the secretary general position would type between the three groups. Now the two logic groups Polynesia melanesia have had to goes at h. Since it was created micronesia filtered. It was east turn it puts candidate up and under what it's called a gentleman's agreement Received enough support to get up on the basis. That was a was a fair rotation about there was a last minute. Move against it and it didn't succeed loss by one voice and so they are very upset about that. They feel that they were let down particularly by australia and new zealand. That isis spit didn't vote for the micronesian nation candidate and in the end the pull the nation candidate. As you mentioned. Henry won the vice. So micronesians very upset. They talking about leaving the forum and it's just not ideal to have a split in that forum when they're a big issues at stake particularly the climate crisis which that forum has worked very well together as a pressure bloke own achieving trying to change globally in fact and in fact Done what better than australia's done to on us. And then there are other pressing issues that are going to affect the region as a whole of vaccination program for covid nineteen And also this issue of influence of china which. Australia has been concerned about it. Which has prompted australia to re engage. Much more the see. Firstly with pacific in recent times under what. Prime minister morrison calls the pacific. Step
Monocle 24: The Globalist
Mat Hancock defends "Homophobe and Misogynist" Tony Abbot
"There are reports that Tony Abbott who is Australia's prime minister between two, thousand, thirteen and two, thousand and fifteen is being lined up to work alongside the British International Trade Secretary Liz Truss. The appointments not been made official yet, but it is thought he would take a senior role negotiating Britain's exit from the European Union. However, there have been many objections with those opposed to the appointment claiming that Abbott is unfit to represent the UK due to his views on climate change and pass misogynist homophobic comments, his the Health Minister Matt Hancock being grilled on the matter by skies K. barely we need to have the best experts in the world in that working in that field. And as the former prime, Minister Australia. Obviously. Go huge amounts of experience even if it's a homophobic misogynist. Well I I I I think that that is I I don't think that's. True I Dave I haven't seen. It said he I'm sure you'd have to support some of his comments. He's a homophobe a misogynist well. He's also an expert in trade. Well joining me on the line from camera is Karen Middleton the political correspondent for the Saturday paper listening to that Toko cliff. And, of course, Karen knows a thing or two about Abbott. So is he a misogynist homophobic? Well I wouldn't call him both things, but he certainly has been cold those things in the past he's taking controversial positions and. Alpha Prime Minister Julia Gila misogynist effectively when she gave a now famous speech in the parliament suggesting that that she can take lectures on misogyny from men meaning ashish. And he wasn't in favor of the. Vote we had here in Australia on same sex marriage campaigned strongly against it and and was involved with some. Philly. strenuous an unpleasant protests against the Julia Gillard when she was prime minister in general that had fairly success language in it. So you know they certainly have been controversial positions in a number of people here have strong views for and against Mr Abbott, and we are enjoying the debate from afar that's going on in London.
Monocle 24: The Briefing
Coronavirus: Australia sends 1,000 army personnel to Victoria to fight outbreak
"We Begin Today's program in Australia which is preparing to deploy its army to help deal with the surging corona virus cases in the state of Victoria public health workers are knocking on the doors of thousands of homes, offering free tests. One regional health minister has warned his residents don't go to Melbourne well, let's get the very latest now with Karen Middleton. WHO's a Saturday? Papers chief political correspondent in Cambria Carrot, welcome back to monocle twenty four. Could you just bring up to date, please? Yes. Indeed, we've been down. Congratulating ourselves a bit here in Australia that we've been doing well with reducing the infection rod across the country, and all of a sudden in the state of Victoria capital of which is Melbourne as you mentioned. They have seen a reversal of that for the past nine days. They've had double digit infection rates now of course, compared to the rest of the world, and particularly some hot spots around the world. That's very very small, but we all know that the virus stopped small and spreads fast and so double digit infection rights can quickly guard glory to more than that, and in fact yesterday they. announced they had seventeen new infections and today is struggling time that that number is thirty three new infections, so you can see these exponentially growing again, and that's going in the wrong direction as far as the government is concerned, so there's now an all out effort to try and taste the people in the hot spots around Melbourne. which is in the northwest of the city, and in the southeast of the city to try and find out how this is spreading, and to stop it as quickly as possible. You said they sort of all out attempt. It seems to be very rapid and very thorough people knocking on doors and the army being boughten. Yes, that's right I. mean the testing regime is more intense than it was at the beginning of the pandemic, because here in Australia, just like everywhere else the capacity petition as much more now than it was early on when the whole country with on higher alert, so these inability should test more people now that it will include people who aren't showing any symptoms any respiratory symptoms. Symptoms that might indicate covid nineteen, so they really trying to get as many people tested in those hotspot areas as possible. They're recommending that people don't move around the city and Dart Melbourne. If I particularly come from those areas people in other parts of the country, being urged not to go to heaven, so we we do have a slot pariah situation for one stage, but. The attempt is to try, and really could title that infection and as you say. The army is being holding interestingly tonight. The request for the army that came from the state government has been scaled down somewhat. It's evening here in Australia and earlier today, the premier of Victoria had for about a thousand troops to come to help with. Tasting and transport and other areas like monitoring hotel biased quarantaine. He's now scowled down that request to any about one hundred and fifty from one thousand, so to be unclear, exactly how many will do, and whether there will be involved in the knocking on doors, and the army has been doing that in other parts of Australia. Pandemic and date was called out to help with the bushfire crisis earlier in the year two, so the first time, the army's beat out, but it does indicate that these some urgent situation. How much faith is that in the authorities to do the right thing and act promptly, because it's always a question of trust, isn't it between the Guardians of the station, those who live in it. Yes I think there's a considerable degree of confidence here. Because a strategy has will seem fiction, writes the rest of the country with the exception of Sydney which still has. Reasonable numbers of infections compared to the rest of the country and the rest of have have next to no new infections right across Australia and I think that's a combination of the swift actions of the government, and also the response of the people who were willing to keep themselves in tain and Steinheim and wash their hands and do all the things that were asked to do and that has. Managed to keep the infection rate in check so I think people do trust the government. Unfortunately, though in some parts of the country, and clearly in these parts of Melbourne Win, the restrictions were eased a little bit. There were some people who didn't observe social distancing requirements anymore. The government in Victoria saying it was largely attributable to be family groups that were meeting and catching up. At the time the restrictions were lifted in PAPP's not staying as far as they were required to so. The now, GONNA enough. Ice With this new infection at the hubbing doesn't turn into a full blind second wife.
Monocle 24: The Globalist
Andrew Broad, This Magazine And Leah discussed on Monocle 24: The Globalist
"It's been revealed that a lucky Dina found a pole while eating and always dish that a famous New York restaurant. Rick untouched was having lunch with a friend the Grand Central ice to buy earlier this month when he felt a small object rolling around his mouth, Mr. Antar says he's not yet. Sure what he'll do with the find. This is the globalist. Stay tuned. Now much in the situation, you're on a trip to a foreign country far from home feeling a little bit lonely in this technological age go on the internet and find someone son to hang out with for the evening. Sounds reasonable. Right. Well, no not. If you are married assistant minister to the deputy, prime minister of Australia, and the website was for sugar babies Oldman hooking up with young women. That's the allegation against national MP Andrew broad made in the magazine new idea, and the must be something in it because brought his resigned as ever Karen Middleton, the Saturday paper in Canberra has the lowdown. Karen, thanks for joining us. Exactly. What does new idea allege happened? It's interesting that has come from this magazine. And it's also interesting isn't being denied the allegation is that Andrew brewed went on a trip to Hong Kong from stri Leah. It was a work trip. But as it was a it was for conference, but he says that he paid for himself except for the domestic connections from his rural town that they ruled Tammy leaves into millburn to the capital to fly out and back again. And he's now repaid the money that he climbed for that. He went to Hong Kong he met up with the young woman who is twenty partly about twenty years younger than him. He's forty three and took it to deny he'd been sending her text messages that getting increasingly six allies diligently beforehand, and he took a DNA. Apparently, he complained allegedly about the process of the food, and she felt the came onto a strong, she'll she alleges that he clearly wanted something different from the association and she'd and she's going to. What is fictive -ly econo- supermarket tabloid type magazine because new idea is not usually considered a Goto political topics? No, it's a it's a pepperoni favorite. It's a celebrity sort of since -ation type magazine that you would find an in a news agent or a supermarket. It certainly not a magazine that would normally have political coverage. So it's interesting that this young woman has chosen to go there to talk about it. But as I say, Mr. broad has not denied any of this he referred it to the police believing that she may have committed a criminal offence. But he has now yesterday is struggling time. Once the story, the new stands, he will he resigned, his assistant minister position. And then today starting time if you go he's announced that he's actually going to leave parliament at the next election. He's no longer going to represent his seat of Molly at the. Next election. So he's lost his job completely. As a result of this is how much a problem is this for his boss. The nationals leader, Michael McCormack. Well, it's considerable problems of nationals are conservative rural dice party ruling in coalition with their senior partner, the liberal party, which is a conservative party here in a star Leah now, the liberal party prime minister, Scott Morrison has lost. He's majority in the house of representatives. So he certainly did not want to be losing another Impe. That's why Mr. broad will stay in power until the election. But pulled the dip he prime minister and the leader of the nationals Michael McCormack, it's problematic because when he was I asked about this yesterday when he revealed that Andrew broad was quitting the ministry. He said he'd nine about it for a couple of weeks.
Monocle 24: The Globalist
Australia refuses to sign UN migration pact
"Stray Leah's, prime minister, Scott Morrison has said his country will not sign up to United Nations migration agreement because it would in his words endanger security, the UN global compact for migration asks signature is not to detain would be min migrants arbitrarily and also to us detention only as lost resort. Will Scott Morrison says it doesn't distinguish between those who are legally enter Australia, and those you come the right way. There's a his words not mine. I'm joined by Karen Middleton. He's a chief political correspondent for the Saturday paper in camber. Welcome back to twenty four carat and what is this global compact for migration? How would it affect the way that Australia deals with immigration? Well, I guess it is a bit of dispeat-. I've the answer to those questions. The global compact is a United Nations agreement that is due to be signed. I believe in a couple of weeks. I think in Morocco. So the government here like other governments had to make decision fairly soon. Whether or not it was going to sign up at the United States decided it won't Israel has decided at won't. And some other European countries are also not going to agree. And I think the point that imagined is probably the case Dickey point for these sterling government because it runs off show detention centers. It would have a problem signing up to something that said that detention was only a last resort. When of course in the case of people who came to a strategy by but as a solemn sake is it was a first resort police drilling government. So that's that's the problem. I think having read the language in the pact does distinguish between people who come in a regular nanna and people who come in an irregular manner. So I'm not sure what the prime minister is saying now think that might not be quite right human rights, tra-, straight director says that Australia's immigration policy, and I'm quoting is a textbook case of how not. To treat both rivals by sending them offshore to enjoy abysmal conditions for years and trying to shirk its international responsibilities onto less developed countries. And it's pretty damning word in terms of the way that Australia is treating people who arrive on short here. We've seen a series of reviews and reports and comments from international agencies criticizing condemning Israeli handling of immigration for years now, but successive governments remained on moved on the point of of short attention. Interestingly we have in recent times, saying some form of immigration officers here in his dryly who have turned whistle blower, and who suggests that the evidence shows that in fact, it's not the detention centers that is dissuading people from getting on boats, and it has the policy has stopped people from successfully getting to a stray Leah, but but the other aspect of the immigration policy, which is in fact, turning bucks around so rather than the mandatory detention regime. Being the deterrent. It's turning around at see that seems to work so on that basis if that is true there really is becoming very little reason to Kate these people in detention, and I think the public sentiment which has always been very sensitive to issues with my Gration and has tended to favor a hardline approach things to have been shifting, and I think this growing confident on the population about having to account for the the action the national action in holding as people in they centers for for five years or more. You say that the the public opinion shifting away from a hardline approach, but that doesn't necessarily chime with the opinions of the current prime minister Scott Morrison who hasn't been in office that long, but who seems to take an immigration as one of his key issues. Well, should clarify what I made I don't necessarily mean the population is swung away from heartland of perch, but they're increasingly uncomfortable with off-shore detention. So I think they want the government to maintain a hard line against Assad. Seekers arriving in the stroller. They just don't like the the idea of people being effectively jailed for for this long. So that's the dilemma for the government. Scott Morrison is actually a former immigration minister and has been a tough talker on border protection for a long time infected. Hey who claims the credit for stopping the bite.
Monocle 24: The Globalist
Prime Minister, Malcolm Turnbull and Matisse discussed on Monocle 24: The Globalist
"The WTO against US tariffs on sixteen billion US dollars worth of Chinese goods. The threat comes off to the US imposed a second-round of tariffs on Chinese goods in an escalation of their trade war. The twenty five percent tax came into effect at noon in Beijing. There are fears that more tariffs could further hurt companies and consumers and the Democratic Republic of Congo has approved four more experimental treatments against the deadly Ebola