five weeks from may 23rd, you're getting into june, july and then august. and we certainly -- we should clear with the eu-3 right now. weav we're not going to take the position there cannot be negotiations in august because everybody in europe is on vacation. so we need to set up a schedule now. this is a real test of the iranians. there should be meetings at the very least every other week, at the very least. >> last question. >> i'm not a journalist. i'm a private lawyer. my name is bob ostrum. like it or not, we're in the middle of this in what will prove to be a nasty and very close presidential election in this country. the timing couldn't be better, worse. what do you think, and i apologize for asking those of you who are diplomats, but what do you think the impact of this presidential campaign will be?

and secondly, assuming a change of administration with the election in november, what impact do you see on this longer-term of negotiation and threat of military, if necessary? >> let me just make one comment on the -- when you get a new administration, and it doesn't matter who is coming to power, it can even be the vice president of a previous administration. there's a kind of interaction that goes beyond the transition. you may get your secretary of state and defense confirmed on day two or three. but you won't have any of your assistant secretaries enter defense. a lot of white house staff will be arriving later. so you don't really have a full government for months. and if we have a new president, i think that's going to delay decision-making. it usually does. the other, the political question, i think it's clear

that the president would rather not deal with this between now and election day. and i can't see under any circumstances in which he would deal with it, even with a breakdown of the talks. >> i would say, and i was a career foreign service officer for a long time, now retired. i don't see any reason why there should be a partisan difference. i don't want to presume that there is going to be a transfer of power in the autumn. let's talk about this year, this president. as i appreciate governor romney's stance on iran, and i just read his stance on his website, and listened to a lot of other senior republican voices, i don't see a lot of difference here on the issues between president obama and governor romney. and so the worst thing that could happen, from my perspective, if it i had to put myself put myself back in place as a career diplomat, this issue gets hijacked by our politics. it's too important. nobody knows there's going to be lots of partisan differences.

not on this one. this is a potential question on war and peace in the united states. so i would hope the republican leadership would give the president the time and space he needs and they would need were they in the same position to get this thing right. this very careful calibration of diplomacy, the threat of force, which is going to go beyond may 23 in baghdad. >> i can't help commenting. you know, there were actually two dueling critiques of romney's iran policy. one is that he's been hijacked by the neo kans, and what we heard from nick, not a difference at all around romney's policy and president obamas. both analyses can't be correct. only one of them can be -- >> i think i'm correct. but bear that in mind the next time you read an article like david sanger's yesterday in the "new york times." i don't know for sure what the effect of our election will be.

i do think it may be the fact we're in a campaign period, it diminishes the likelihood that president obama will be tempted to adopt a bad deal, just because there will be justifiable negative fallout if it's a bad deal. if he gets a good deal, you know, i guess he will benefit politically from that as he deserves to. >> i think, you know, these kinds of issues are never made easier in the hot house of highly contested politics. on the other hand, you know, maybe one way i can square the circle between the two of you on this one, when it comes to the nature of the objective, the objective is the same. there is no difference between the parties on the question of do we prevent iran from having this capability. this is not about containing, living with them, having the capability, it's about preventing. so the objective is the same. negotiating in this kind of a context is not simple. but the reality is, since the objective is clear, and you're going to have to be able -- if

you produce an agreement and because we would have to be able to lift sanctions, as well, the agreement is going to have to pass mustard on the hill and going to have positive to meet a certain standard. whether you're in the hot house or not in the hot house, those are the realities you deal with. i think elliot's point is 100% right. there is no way to think that if you have a change in administration that you don't suddenly put yourself in a position where a lot of time goes by. and by the way, i would just say, as an objective fact, the israelis would obviously be noting that as well. >> well, i think we have come to an end, and i have to say, all of us are fortunate to have had the opportunity to share the wisdom and experience of four people on a panel such as you four. so i thank you for that. i just leave you all with one thought. and that is, you actually cannot build your credibility by always saying what you're going to do. at some point, you actually have to do something. so with that, i will thank you all, thank the bipartisan

policy. >> thank you. and i'll just pick up quickly on the last couple comments that all the panelists made about this being election and everything. one of the roles of the bipartisan policy center is not just during elections, but all -- every day of the year. we try to bring people from both sides -- experts from both sides of the aisle together to try to forge a bipartisan consensus. we believe we have done that in our own report. i think you see in this panel a lot more convergence of views than some might have expected before. and i want to thank all five gentleman. a lot of leading thinkers on this issue. i think you've heard an excellent discussion on this, and i thank each and every one of them for joining us today. and i also want to pick up on something that dennis ross said when he said we have to stop the clock. that's actually, whether intentionally or not, was a nice plug for our last report on iran which is called "stopping the clock" and i encourage, if you haven't already done it, it's outside. and also the bpc folder also

includes some of our white papers on this issue and a few other writings. i want to thank you all for attending and i also want to thank marissa mccauley, alyssa loi, charlie eater and john done lynn and our communications group for putting this all together and i he want to thank you all for attending on this rainy day. thank you. and hope to see you at future events. ♪ this memorial day weekend on c-span, we'll take you to colleges and universities around the country to hear commencement addresses from members of congress and the president's cabinet, state and local leaders and is business executives. and we also want to hear from you about your commencement

experience. did you graduate from college this year or attend a ceremony for a friend or family member? or maybe something about a past commencement sticks with you. we want to hear from you. call us and tell us your story. 202-643-3011. and we may use your comments on the air. that's 202-643-3011. british prime minister david cameron spoke to business leaders today in manchester, england. he said he won't change his plan for budget cuts to get the country's debt under control. the prime minister's speech was 20 minutes. thank you, ladies and gentlemen, and thank you, ann, for that introduction. and can i first of all thank the institute of directors for the work that you do, supporting britain's entrepreneurs, supporting britain's wealth creators, supporting a lot of people who are going to help to get us out of the difficult

economic situation we face today. because we are living in perilous economic times. turn on the tv news, and you see the return of a crisis that never really went away. greece, on the brink, the survival of the euro in question, and faced with this, i have a clear task to keep britain safe, not to take the to take the right course. dealing with the debt crisis, but to lead our country through this, to better times. my message today is that this can be done. we are well on the way in this journey. since we took office two years ago, we have cut the last government's deficit by more than one quarter. yesterday we had encouraging news on unemployment, too. the number of people in work, up by 100,000 in the last quarter. and the number of new business

start-ups last year was one of the highest in our history. so now more than ever, this is the time to stand firm. let me be clear. we are moving in the right direction. not rushing the task. but judging it carefully. and that is why we must resist dangerous voices calling on us to retreat. yes, we are doing everything we can to return this country to strong, stable economic growth, but no, we will not do that by returning to the something for nothing economics that got us into this economic mess in the first place. we cannot blow the budget on more spending and more debt. it would be to squander all the progress that we have made in these last two tough years. it would actually mean tough decisions lasting even longer. it would risk our future.

it is not an alternative policy, it is a copout. in keeping britain safe and building the recovery that we need, we face three challenges. first, the struggle to recover from a long and deep recession at home. second, the turbulence coming from the eurozone. and third, the uncertainty over whether the world is on the right economic path with debates raging about trade policy and how best to support growth. we need to find the right answer to all three of these challenges. now, our answers must be rooted in the reality of the global situation. this is not a conventional economic crisis of the kind britain has had to deal with in the recent past. this is a debt crisis. deficit reduction and growth, they are not alternatives. delivering the first is absolutely vital in securing the second. if markets don't believe that you are serious about dealing with your debts, your interest

rates will rocket, and your economy will shrink. now, britain cannot cut itself off from what happens elsewhere. as our biggest trading partner, the problems in the eurozone are affecting britain, too. and as we prepare for the potential storms, we should, i believe, be both resolute and confident. resolute, because we will do what it takes to shelter the uk from the worst of the storms. outside the euro, we do have greater flexibility. we have our own currency, our own central bank with responsibility for monitoring and financial stability. we have trade relationships with all parts of the world. we actually invest more around the world per capita than america. and last month, our trade in goods with countries outside the european union hit a new record at 13 billion pounds. so we will make the most of this flexibility to drive the strong deficit reduction program and secure the strong banks that

will be necessary to keep our interest rates low. we should be confident, because of our strengths. just today, here in the northwest, general motors has given britain and its work force a fantastic vote of confidence by backing continued production at else mere port. the uk government gave this its full backing. the union supported the necessary changes. the work force responded magnificently. it is truly a british success story. and general motors are not alone. look across the country. honda, jaguar in the west mid lands, nissan, britain's car industry is growing. indeed, this week our balance of treat in cars turned positive in the first quarter. for the first time since 1976. benjamin callahan went to the imf. and it's not just our car industry that is strong. life sciences, pharmaceuticals, information technology,

aerospa aerospace, the creative industries. britain has a strong base from which to grow. we have a global language, we have a time zone where you can trade with asia in the morning and america in the afternoon. we have some of the best universities in the world. and a government that is committed to making britain the best place in the world in which to start a business. now with these strengths, i believe we can see britain through the storm. but to do so, we need to act at home and together with our european and global partners. now, first, we must continue to get to grips with the deficit and to build our recovery at home. let us be clear about what we inherited. an economy built on the worst deficit since the second world war. the most leveraged banks, the most indebted households, one of the biggest housing booms. and unsustainable levels of both public spending and immigration. with a budget deficit of over 11% of our gdp, one pound in

every four that the last government spent was actually borrowed. britain still spends over 120 million pounds every single day, just to pay the interest on our past borrowing. and that amount will continue to increase every day until we start to live within our means as a country. now, a central promise of this government and one of the key tasks that brought the coalition together was to deal with this deficit. that is the only path to prosperity, and that is exactly what we're doing. despite head winds from the eurozone, we are on track. it's a long-term project. it is pain staking work. but the tough decisions that we've taken on deficit reduction really are beginning to yield real results. and there can be no deviation from this. those who argue we should spend more want us to borrow more. driving up our deficit and our debt, and putting our hard-worn credibility and low interest at

risk. higher interest rates would mean higher mortgages, lower employment, and even more of the money that people work so hard for actually being wasted paying the interest on our national debt. we must not and we will not let this happen. getting our debt under control is necessary for growth. but it is not sufficient. our responsible fiscal policy is being matched by an active monetary policy. that is the best way to support demand, and to rebalance our economy away from debt-fueled consumption and towards exports and investment. an independent bank of england is able to do more to support the economy if necessary, or if inflation falls below target. fiscal responsibility and monetary activism i believe is the right macro economic mix for our overindebted economy. but the additional ingredient that the government will deliver and needs to do even more of is a radical program, economic reform, to make our economy more

competitive, including competitive tax rates, planning reform, deregulation, all of the things that business has rightly asked for, and that we are delivering. some things are absolutely essential in the short-term. our companies need to invest more, so we're cutting corporation tax to the lowest level in the g-7. banks need to lend to small or medium-sized businesses so we're creating the national loan guarantee scheme that will provide 20 billion pounds of cheaper credit for small businesses. builders need to build more. so we are scrapping almost 1,000 pages of planning rules. and those who want to hoe their own, need the confidence to get out and enter the housing market so we're backing mortgages for people to get new homes because it's absolutely clear to me there is a massive shortage of housing, and we need to get that market moving again. then there are other things that will take longer, but will still make a vital difference.

we need to rebalance our economy. so we're supporting the new enterprises that will spread growth and jobs right across the country. with 24 enterprise zones and a $2.4 billion regional growth fund, that's securing 328,000 jobs nationwide. we need to get behind the industries of the future, so we're backing the skilled, high-valued industries, like green technology, aerospace and life sciences in which britain has a real comparative advantage. we need to make it easier to take on new workers, so we're reforming employment law, including tribunals, and we need to develop the skills of our work force, which is why we have delivered over who 450,000 new apprenticeships in the last year alone, a success today welcomed by the public accounts committee. but we need to do more, embedding high-quality, very vacation al education, which is why we're creating university technical colleges for 14 to 19-year-olds, completing part of

our education system that should never have been left out. then they are things for the very long-term. this is a government about the long-term, so we're absolutely focused on delivering them. we're investing in infrastructure, building high-speed rail, finding new ways to finance roads and securing the power supplies of tomorrow. we're reforming welfare, so it always pays to have a job, to get a job, and we want to build a culture that commits everyone to work, not a life on benefits. and, of course, we're reforming our schools so that the next generation have the knowledge and ambitions to match the very best in the world. so if you like, this is our plan for growth. short-term, medium-term, long-term. but i believe there is still more we can do. we can use the hard-won credibility the of the government's balance sheet to help the economy grow without adding even further to our debt. let me tell you what this means. in many areas, we're already using the credibility we've earned to pass on the benefit of

low interest rates to businesses and to families. so we have the credit-using program for small businesses. we have the mortgage help for people who want new homes. and then there are the guarantees for new infrastructure projects. iprojects. i want us to go further so i have asked the treasury to examine what more we can do to boost credit for business, to boost housing, to help with infrastructure. we have taken the tough decisions to earn those low interest rates so let's make sure we are putting them to the best possible use. building recovery is hard work because we're not reflating the bubble, but we are building a new model of growth. some people ask why we didn't have more economy bills in the queen's speech. let me tell you, if you could legislate your way to growth, obviously we would. the truth is you can't. you need to get in there. you need to pick the problems apart. you need to find the things that hold our economy back and sort them out step by step, hour by hour.

a government that is resolutely committed to being on the side of enterprise, entrepreneurs, businesses large and small, wealth creation of all types and all descriptions, and hard working people right across the country. that is what i'm committed to delivering. now, just as in britain we need to deal with the deficit and restore competitiveness, so the same is true of europe. this is a debt crisis, and the deficits that caused those debts, they have to be dealt with. but growth in much of the eurozone has evaporated completely. without the recent german growth figures, it would be in recession. i realize that countries inside the eurozone may not relish advice from countries out the eurozone, especially from countries such as britain that have debts and difficulties of their own. but this affects us, too. as the governor 69 bank of england said yesterday, the biggest risk to recovery in the uk stems from the difficulties

facing the euro area. based on trade flows alone, britain is more than six times as opposed to the eurozone as the united states, and that's even before you factor in the impact on confidence and our closely connected financial systems. this coalition government was formed in the midst of a debt crisis in the eurozone. two years later and little has changed. so that is the backdrop against which we have to work. so i believe it's only right we set out our views. we need to be clear about the long-term consequences of any single currency. in britain, in the united kingdom, we've had one for centuries. when one part of our country struggles, other parts step forward to help. there is a remorseless logic to it. a rigid system that locks down each state's monetary flexibility yet limits fiscal transfers between them can only resolve its internal imbalances

through painful and prolonged adjustment. so in my view three things need to happen if the single currency is to function properly. first, the high deficit, low competitiveness countries in the periphery of the eurozone, they do need to confront their problems head on. they do need to continue taking difficult steps to cut their spending, to increase their revenues and to undergo structural reform to become competitive. the idea that high deficit countries can borrow and spend their way to recovery is a dangerous delusion. but it is becoming increasingly clear that they're less likely to be able to sustain that necessary adjustment economically or politically unless the core of the eurozone, including through the european central bank, does more to support demand and to share the burden of that adjustment. now, in britain we're able to ease that adjustment through loose monetary policy and a flexible exchange rate.

and we're supplementing that monetary stimulus, as i have said, with active intervention such as credit easing, mortgage indemnities and guarantees for new infrastructure projects. so i welcome the opportunity to explore new options for such monetary activism at a european level. for example, through president hollande's ideas for project bonds. but to rebalance your economy at a time of global economic weakness, you need more fum support. germany's finance minister is right to recognize that rising wages and in his country can play a part in correcting these imbalances, but monetary policy in the eurozone must also do more. second, the eurozone needs to put in place governance arrangements that create confidence for the future. and as the british government and i have been arguing for a year now, that means following the logic of monetary union towards solutions that deliver greater form of collective

support and collective responsibility of which euro bonds are just one possible example. steps such as these are needed to put an end to speculation about the future of the euro. and, third, we all need to address europe's overall low productivity and lack of economic dynamism which, frankly, remains its achilles' heel. most eu member states are becoming less competitive compared to the rest of the word, not more. the single market is incomplete. competition throughout europe is too constrained. indeed, britain has long been arguing for a pro-business, pro-growth agenda in europe. that's why i headed the last european council. i formed an unprecedented alliance with 11 other eu leaders setting out an action plan for jobs and growth in europe pushing for the completion of the single market in services, in energy, in digital. these are gains sitting there waiting to be taken if we can show the political leadership to get it done. the eurozone is at a crossroads.

it either has to make up or it is looking at a potential breakup. either europe has a committed stable, successful eurozone with an effective firewall, well capitalized and regulated banks a system of fiscal burden sharing and supportive monetary policy across the eurozone or we are in uncharted territory which carries huge risks for everybody. as i have consistently said, it is in britain's interest for europe to sort out its financial difficulties. protecting britain's economy, of course, is not just about the measures we take at home or even the steps our neighbors take in europe. in a world that is ever more connected and ever more competitive, it's also about the steps we take with our global

partners to protect ourselves against global contagion and to promote global trade. so over the coming weeks i will be flying to camp david and to mexico to fight for what is right for britain at the g-8 and the g-20 summits. that means committing together to make the reforms we need to get our economy's growth and the global economy working again, including involving organizations like the imf. it means persisting with those reforms to make sure our banks are safe by implementing high quality global financial regulatory standards. it means recognizing the risks to recovery from the rising and volatile energy prices and working together to ensure our energy security. but most of all i believe it means getting together to give the world economy the one big stimulus that could really make a difference, an expansion of trade freedoms, breaking down the barriers to world trade. now, we all know that the dohr trade brant is going nowhere.

that doesn't mean we have to give up on free trad. far from it. there's good work we can salvage. i want to see a commitment to open markets and to rolling back protectionist measures. most importantly, i want us to move forward with what i call coalitions of the willing so countries who want to can forge ahead with ambitious trade deals of their own. because we all benefit from the increased trade and the investment that these deals with bring. now, for us that means getting eu agreements finalized with india, with canada, with singapore, launching negotiations with japan, and above all preparing to negotiate with the u.s. that could be the single biggest bilateral deal that could benefit britain. why is that all so important? because the opportunities for britain abroad have never been so big. and we need to work harder than ever before to seize them. yes, competition for every job

and every contract has increased, of course. and the last ten years have seen the extraordinary rise of the powerful new economies in latin america, asia, and, indeed, in africa. but the globalization of supply has meant new competitors making products and, yes, sometimes more jobs going abroad. but now these countries are not just producers, but they're consumers now. as nations get richer, they spend money on products where britain can excel, pharmaceuticals, jet engines, music, computer games. the globalization of demand means new countries demanding our products, and that can fuel new jobs here at home. if we make the most of this, there's a huge opportunity to secure a great future for our country. and that is why as we get through this crisis, i believe we can look ahead with confidence. now, i cannot predict how this crisis will end for others, and i cannot pretend that