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Play now 28 mins

Europe on the Ropes?

Duration:
28 minutes
First broadcast:
Saturday 13 February 2010

It's been a long and hectic week for those involved in Europe's economies. Greece made a pledge to drastically reduce it's deficit, and it's fellow eurozone members made noises of support, but were short on specifics. Meanwhile, investors placed huge bets against the European single currency, the Euro, as worries grew about the indebtedness of countries like Greece, Portugal, Ireland and Spain.

Business Weekly talks to Portugal's finance minister, Fernando Teixeira dos Santos, who says he would turn down any bailout package from Europe because it would be "like anaesthesia".

And Nobel prize-winning economist Joseph Stiglitz, who is advising the Greek government, argues that Portugal and others are the subject of unfair speculation.

Also it's a month since the devastating earthquake in Haiti. People are desperate to earn cash through temporary clearing-up work, but is there enough work to satisfy all the people who need it? And microfinance organisations are trying to get loans to people who need them. The BBC's Mike Wooldridge reports from Port au Prince.

Plus, it was one of the biggest scandals to rock the business world in recent years - a powerful mixture of sex, power and lies. Three years ago, the chief executive of the oil giant BP, Lord Browne resigned because of a lie relating to a gay relationship. Now, in a candid interview with Business Weekly he breaks his silence for the first time and tells his side of the story.

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