| WEDNESDAY 12TH NOVEMBER 20.00 AND 22.30 GMT - BBC TWO FROM PROGRAMME PRODUCER KAVITA PURI Hello, Reality bites "You lost touch with reality - will you admit you got the decisions wrong during quarter three on rates? Will you apologise to people who may be losing their jobs as a result?" So asked Newsnight's Economics Editor Paul Mason to the Governor of the Bank of England (Click here to watch Paul's interview:) Mervyn King said he had not lost touch with reality. But he admitted we are in a recession, national output could shrink by 2% next year, and interest rates could drop further; this on the day that unemployment figures were at their highest since 1997. King also said policymakers can only have a limited impact at national level. So as G20 leaders prepare to meet in Washington - what's their vision for the new financial world order to get us out of recession? Defence intelligence cuts The Butler review into the intelligence relating to Iraq's WMD, which played a key part in the Government's decision to invade Iraq, said there should be no cuts in defence intelligence spending. This was agreed to by the government. But our Diplomatic Editor Mark Urban has learnt there will be at least a 20% reduction in staff. A key witness to the Hutton inquiry, defence intelligence analyst Brian Jones, tells Newsnight the government has failed to learn the lessons from the Iraq WMD saga. And a former deputy chief of defence intelligence says the cuts will make similar mistakes more likely in the future. Baby P An extraordinary exchange during Prime Ministers Question Time on the inquiry into the death of Baby P. Our Politics Editor Michael Crick reports. The Curve Nestled in Leicester's city centre is the Curve - the city's new theatre. Designed by the Uruguayan Raphael Vinoly, it is hoped that it will regenerate the area. Will it do for Leicester what the Guggenheim did for Bilbao? Our Culture Correspondent Stephen Smith has a sneak preview. Do join Jeremy at 22:30 - he promises to put all his apostrophes in the right place. Missed Newsnight? Click here to watch the latest programme online Newsnight Blog Add your comments to our correspondents' blogs: CLICK HERE | 
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