Debates & Lectures Archive

This Cheapside Debate took place on 10th March 2009

Professor Vincent Rougeau (associate professor of Law, University of Notre Dame) recounted how, through the civil rights movement, African Americans and Latinos had begun to challenge the white Protestant alignment with power. The Obama election signals a new era, he said, one in which he hoped America would lead the way in making a democratic society from a range of cultures. Such a transformation of the United States into a multi-cultural democracy would surely enable America to engage as a nation with the rest of the world's cultures.

Michael Binyon OBE (leader writer and former diplomatic editor of The Times) commented that polls indicated Obama's presidency to be highly popular around the world, especially among the USA's traditional allies which had taken an anti-Bush stance. Such euphoria will likely be followed by disppointment, though. President Obama must restore America's good name, tackle climate change, the Middle East, and relations with Islam. The world could expect too much from just one president. While other nations do not appreciate being told to be democratic, they do admire the democracy they see in the US. The best way for the president to galvanise support now is to lead by example.

This Chepaside Debate took place on 3rd Febraury 2009

Sir Michael Snyder (Deputy Chairman of Policy & Resources, Corporation of London) said there was no doubt that the media had fanned the flames of the financial crisis; we must move on from asking who is to blame and do something constructive. What, he asked, will the global financial world look like in the future? It is vital for London and the UK that the City thrives. We need cheaper housing, improved infrastucture (Crossrail for instance), better education and quality of life. Britain is a great trading nation with many innovators; we need to form lasting partnerships around the globe. Development means recognising the emerging financial centres in Mumbai and Shanghai. The whole population needs to have more confidence. It is people who are the foundation of good business and it is people's trust in one another that will make the City succeed.

Dr Vince Cable MP (Deputy Leader & Shadow Chancellor, Liberal Democrats) explained that the UK is host to three of the five leading banks in the world: enormous loans will have to be covered by the tax payer; British banks have become too big for the British economy and we do not yet understand how that will affect us. The government has nationalised the largest banks but not yet decided what to do with them. It must isolate the bad debts, exercise discipline over pay and bonuses, close tax loopholes and prepare these banks for re-privatisation in around ten years' time.

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