Is an international spy swap currently underway? Unconfirmed Russian news reports say Igor Sutyagin, a scientist convicted of espionage, has been flown to the Austrian capital Vienna, supposedly as part of an exchange deal for 10 suspected Russian spies who are about to face charges in a New York court. We'll have the latest on what could be the most dramatic moment for Russian and American agencies since the Cold War.

We'll also have the latest from Northumberland on the hunt for the gunman Raoul Moat following today's police press conference.

We were reminded of the threat from terrorism today when three of the men involved in the airline bomb plot were convicted of conspiracy to murder. The convictions come on the day the government announced it would not appeal against a European Court of Human Rights ruling that Section 44 of the Terrorism Act 2000 - the power to search people without suspicion - is unlawful. There were immediately accusations from some quarters that the coalition is not being sufficiently tough on terrorism. We'll debate.

And amid all the economic uncertainty you might seek refuge in a museum. But, like the rest of us, they too are under pressure to tighten their belts. One way museums could save money is to sell off what they don't need. But by their very nature, museum folk are hoarders. Madeleine Holt has met one curator who has pioneered disposing of unwanted artefacts - and took him to convince some others. Read more on that here.

Do join us at 10.30pm

From earlier

The education secretary has said he will apologise in person to schools led to believe they could go ahead with building projects which were axed. Aside from the opposition anger, Conservative backbencher Ian Liddell-Grainger - who has three schools in his constituency with building work scrapped - is threatening to march on Downing Street.

And is the wider government narrative of daily cuts announcements causing consternation among Tories as well as Lib Dems?

Ten suspected Russian spies are being moved to New York to face charges ahead of a possible prisoner swap. The suspects are due to appear together in a federal court on Thursday. Reports from the US and Moscow suggest Washington may opt to deport the 10 in exchange for Russian prisoners. The Cold War is long over, so why are the US and Russians still engaged in mutual low-level spying?

And we have a piece from Madeleine Holt on the problems of exer-expanding museum collections. With around 90% of artefacts not on display, we meet one man pioneering the art of 'disposal'.

Justin Rowlatt (our Ethical Man reporter) is out on the streets with the protesters providing a live feed of pictures and updates on what's happening. He's already met police, masses of protesters and has made it to the Bank of England.

Meanwhile, our Economics Editor Paul Mason is on the inside. So far this morning he's been posting his thoughts on President Obama's news conference.

You can follow Justin and Paul on Twitter (or follow both on this Google Reader feed) and leave your own G20 thoughts below.

I'm getting used to the concept of 'X trillion dollars'. The draft G20 communiqué leaked to the German press at the weekend is full of placeholders for money commitments that have not yet been decided. What is clear is that any new fiscal stimulus commitment is off the agenda. But only the outright cynics will say the G20 does not matter. It is set to deliver a concrete commitment to regulating the banking system. It will certainly deliver new money to the International Monetary Fund. But the danger remains that the emerging rival policy blocs will take action that accelerates the collapse of globalisation.

After that, Mark Urban will be reporting on the lawlessness of Lahore and what it means for Pakistan's fragile political state. As the Home Secretary is mired in embarrassment over using Commons expenses to pay for porn, MPs are offered a pay rise. Michael Crick asks if it's bad timing or just a bad idea. And 20 years after witnessing the Hillsborough disaster at first hand, Peter Marshall turns up new evidence of what went wrong that day.

And after Newsnight tonight - the first terrestrial showing of the drama that's been called the best TV series ever made - The Wire. If you want to know what you're in for, here's what Newsnight Review had to say about the last series, and critic Marina Hyde on why she loves The Wire.

Quote for the Day
"Yes."
Foreign Secretary David Miliband when asked if an inquiry into the Iraq war would be set up as soon as is practical after British troops leave in July.

In tonight's programme we'll analyse what an Iraq inquiry might achieve and - after the Hutton and Butler inquiries - how credible it will be? Will we find out definitively why we went to war? Was the war legal? What happened to Saddam's supposed WMD? And why was the occupation of Iraq such a catastrophe?

Also in the programme, the latest in Paul Mason's series of reports from Eastern Europe, and whether the US and the EU really are split over what to do next on the economy. You can watch the first two films here and read more on Paul's blog.

And finally, Newsnight viewer Daniela Stuhlmann says she is still reeling from the sight of Tony Parsons' socks on Newsnight Review, and - no doubt in retaliation - has sent in the worst Joke of 2009 (so far - other entries welcome).

She writes:

There was a dog called Minton, who ate a shuttlecock... so his owner said "Bad Minton..."

Oh, dear. I'll have a word with Tony about his socks...

Gavin

Our Economics Editor Paul Mason begins his tour of countries formerly behind the Iron Curtain in Latvia tonight. There the end of easy credit and a housing boom has left the emerging middle class high and dry. Eastern Europe faces a slump on the scale of the 1930s as the newly emerging market economies wither under the onslaught that stronger countries can for the time being still weather. But what happens in the Eastern bloc could actually have an impact on all of us. Find out how tonight - and follow Paul's progress through Latvia, Ukraine and Slovakia on his blog.

Back in the UK, Ken Clarke waded in over the weekend to say that the all-important Tory Inheritance Tax promise was no more than an aspiration, political code among the cynical for 'we probably aren't going to do it after all'. The Conservative High Command sprang into action to affirm that this was a solid promise firmly in the next election manifesto and would be honoured come what may. End of story?

Well perhaps not. As the bill for the economic rescue packages mount, there's a growing political acceptance on all sides that high taxes or austerity will be required once the current crisis is over in order to balance the books. Our Political Editor Michael Crick reports on what that means for the next election campaign if no-one can convincingly promise anything but a long miserable slog out of recession.

Meanwhile, the US Treasury Secretary today announced his latest plans to neutralise £1tn of toxic debts in the US banking system. Put simply that means that a whole lot of those sub-prime mortgages that kicked off the credit crunch in the first place will soon be sealed in concrete and buried deep under ground for a thousand years. And thus set free, the banks will start lending again. It all sounds good but will it work? And, perhaps just as importantly, will the Obama presidency stand or fall on how effective the plan is in rejuvenating the US economy?

All that and IPL cricket too. That's Newsnight at 10:30 on BBC2.

Economics correspondent Alex Ritson:
"We'll see the recession coming to an end probably this year." It's an extraordinarily optimistic statement given the financial turmoil - a year to the day since Bear Stearns crashed. But it comes from arguably the most important official in the global economy, the US central bank governor Ben Bernanke.

I've spent the day hitting the phones to see if there is anyone credible on this side of the Atlantic who agrees with him. And to my surprise, there are a number of influential people in the financial world who think a turnaround could be in sight. But that may not be good news for all of us - find out why in Newsnight tonight."

Also tonight, have the Americans given up on President Zardari of Pakistan?

Has there been enough soul searching in Austria about the Joseph Fritzl trial?

We also have a frontline report with French troops - yes French troops - in Afghanistan (you can watch some of it right now here).

Tonight at 22.30

Confident words from Peter Robinson, the Protestant power-sharing leader to the Northern Ireland Assembly. But the killings on Saturday night raised plenty of questions about who was behind these attacks, and what else they might be capable of doing. Richard Watson is investigating.

From Richard Watson:
"Following the murder of two soldiers in Northern Ireland, I'll be looking at dissident republican groups who're trying to re-ignite what they term 'the armed struggle'. We've spoken to a source who claims that different groups of dissidents who oppose the peace process are attempting to come together to create a new version of the IRA."

We also have a film from Lyse Doucet in Afghanistan. It's twenty years since the last foreign invaders packed up and left. But not everyone went home. Lyse takes a ride with a former red army soldier turned Kunduz taxi driver; and as memories of that conflict are being invoked again, she asks what lessons can be learned from the past.

And we will be interviewing Julie Myerson about her new book 'The Lost Child'. She's been heavily criticized for writing about her struggle with her son over his cannabis habit. We'll be asking her how a mother justifies betraying her son's confidence for her art.

Join Jeremy at 10.30pm and leave your comments below.

Matt Prodger writes:
"Doncaster hasn't had much luck with local government. A decade ago 21 councillors were convicted of fraud in the "Donnygate Scandal", the biggest local government corruption case since Poulson in the 1970s. Now Donny is at the heart of another crisis, this time over the deaths of vulnerable children who should have been protected by social services. In a chilling echo of the recent Baby P case, one of those who died was a baby murdered by her father when he snapped her spine. Over the course of a month-long investigation I've discovered that senior managers in Doncaster council were warned four years ago that child protection services were in chaos, yet our whistleblower - a former child protection manager there - says the warnings were ignored. I'll also lift the lid on a local authority at war with itself - an elected mayor at loggerheads with an elected council - and ask if the roots of the child protection crisis lie in a bold experiment in local democracy." You can read more on Matt's investigation, and see a clip of the out whistleblower here.

ITV has announced 600 job losses after reporting a loss of £2.7bn for 2008. Is this the consequence of the multi-channel, multi-format age or just bad business management?

And we hear from the founder of CNN, Ted Turner, on the economy, the environment and the future of television.

Also tonight:
We'll be looking at the way lotteries are being used to allocate places at secondary schools in England as the government has announced an inquiry. What should Gordon Brown tell Congress when he gets his moment in the spotlight and addresses the two great houses on the Hill this week? And one of President Obama's closest advisers tells Newsnight's Ethical Man what the new administration's global warming plan will look like. (Read Ethical Man Justin Rowlatt's blog here.)"

Do Britain's health ministers bear any responsibility for the deaths of nearly 1,800 haemophiliacs?

Today was a day many of Britain's haemophiliacs thought they might not live to see. The publication of Lord Archer of Sandwell's report into how thousands of haemophiliacs became infected with viruses including Hepatitis C and HIV from contaminated blood products used to treat them. Close to 1,800 have already died. Lord Archer's inquiry began almost two years ago to the day.

Some 20,000 documents and 300 witness statements later, and he says he has now set out what went wrong. He concludes that delays in replacing high risk blood products from overseas had disastrous consequences, yet there's no mention in his report of who's to blame. So was it all an accident? We'll be looking at the evidence and asking if Lord Archer should have gone further. (You can watch my original Newsnight report here.)

Also on the programme: Michael Crick goes in search of the truth about the controversial Tory donor Lord Ashcroft; we have the latest on released Guantanamo detainee Binyam Mohamed and his return to Britain; and Slumdog Millionaire - why was it so successful and is the start of a beautiful relationship between Hollywood and Bollywood. Watch the Review interview with Danny Boyle here.

"Hello viewers... home is where the heart is - but for the Home Secretary, it's her second home that's causing her heartache, and a parliamentary investigation. Jacqui Smith has designated her sister's house in London - where she stays during the week - as her main home, rather than her constituency home in Worcestershire, but neighbours say the policemen are only outside her London residence two days a week. So what have we here? David Grossman turns detective.

This afternoon I interviewed the man with the money, the head of the IMF Dominique Strauss Kahn who was in London today for talks with the Prime minister. He tells me the IMF warned of the impending crisis but no one paid attention - so doesn't that say more about the IMF? He talks about a second wave of crisis hit countries, including the new European democracies and how many of them are already knocking on his door for money. He also talks about the possibility of more social unrest, and he warns the G20 that they must come up with - and stick to - a plan for a beefed up IMF to act as a global financial institution.

Afghanistan is Barack Obama's first troop deployment - he's announced a 17,000 strong force under the command of General Petraeus. Petraeus was the architect of the US surge in Iraq, so what does that tell us about his mission in Afghanistan? Our Diplomatic editor Mark Urban maps out the challenge, and what he thinks Petraeus will do.

And then... our version of sending Daniel into the lion's den - Robert Peston goes to the home of Northern Rock to meet some very angry people who believe that one year ago he was responsible for its collapse - read more about his trip here and watch from behind your hands tonight!"

UPDATE - Programme highlights are now available to watch here.

Did they cause the crisis, are they making it worse and is their request for bonuses the final straw? Is it time the bankers were put in the dock?

Ahead of tomorrow's Commons grilling of four senior bankers, Newsnight will conduct its own inquiry. We'll look at the case for and against, with the former Deputy Prime Minister John Prescott; the founder of Cobra Beer, Lord Bilimoria; the former head of a high street bank; and a veteran city broker.

Our Diplomatic Editor, Mark Urban, will report from Israel on the right wing nationalists who threaten to outflank the mainstream parties in Tuesday's elections.

Also tonight, Alastair Campbell, the former Director of Communications at Number 10, will talk to us about dealing with mental health problems in the public eye. You can read his article here.

Tonight at 22.30

"Watching David Miliband at the end of his meeting with Hillary Clinton, we are watching for signs of how Britain will engage with the new administration, and how warm or otherwise the diplomatic relationship might be.

British politicians like to talk about the special relationship but in recent years, US officials, anxious not to offend all sorts of other allies have called it a special relationship.

That indeed is what Secretary Clinton Clinton did today - until she turned to leave, when with her final words of the short press conference she referred to, "the special relationship".

One could almost hear the champagne corks popping at the British embassy!

An issue of semantics? British diplomats insist not, and that the health of US/UK relations has always been judged by such fine grading of phraseology. What is clear though is that the US Secretary of State, who had extensive contacts with the great and good of Britain in her years as First Lady, is one of the most Anglophile members of the Obama Administration.

Others are not quite so friendly."

Also tonight - controversy over the President Obama's "Buy America" clause that some European officials have criticised as the "worst possible signal the new US administration could send out." We hope to speak to John Bruton, the European Union's Ambassador to Washington. And we'll reporting on Sri Lanka and the saga over Carol Thatcher and the use of the word "golliwog".

Don't forget you can watch highlights from yesterday's Newsnight and comment on the programme here, and there's much more on the website.

"When I was a teenage politics student I'd often go up to the Lords gallery because it was much easier to get in than the Commons.

Nowadays I don't often get in there as often as I'd like.

But today all focus was on the upper chamber as peers expressed disquiet and anger at the revelations against four of their colleagues in the Sunday Times - and two of them stood up to apologise if they'd brought the House into disrepute, but insisted they hadn't.

Tonight I'll explain why the Lords has become an increasing target for the lobbying industry, and ask whether the chamber's rules are too weak to tackle peers if they break the rules on business interests.

Michael"

Dear viewers

"Woe Woe and Thrice Woe!"

But unfortunately this is not a Frankie Howerd caper.

Unemployment is heading to two million, the second bank bailout has fizzled rather than fired, and sterling's on the slide. At Prime Minister's questions, Gordon Brown said the government was doing everything it could to help people back into work and David Cameron insisted "the whole country is asking whether the Government knows what it is doing."

We'll be asking whether the opposition leader is right - whether the government does have a plan. We'll bring a sharp focus to the limited options including full-scale bank nationalisation, and printing money (anything not to say quantitative easing). And we'll be asking why the markets don't seem to believe in the latest bailout.

The economic gloom has eclipsed the excitement of the inauguration of Barack Obama, who went straight to work today on his big economic recovery plan and his foreign policy priorities. President Obama's first public move was to halt the military court at Guantanamo Bay, and we are expecting a swift move on the economy. We're trying to tempt Robert Reich back onto the programme after the satellite went down on last night's American special, cutting him off just as he got going!

And we have a moving and shocking film from Afghanistan. Cameraman Shoaib Sharifi spent a week filming in a hospital in Kandahar, the city that is the most dangerous place in Southern Afghanistan. We see desperate doctors, wounded patients and one man who has to search out and pay donors to get a blood transfusion for his father (not an uncommon occurrence), and a woman whose family drove for a day to get her to hospital to try to save her unborn baby.

See you at 10.30pm

Kirsty