hello you're watching "gmt" on bbc world news with me david eades. our top stories, is this the biggest poker hand in eurozone history? hundreds of billions of euros, massive political capital, even eurozone membership at stake, as greece seeks an extension to its bailout loan. it was the city which made the world wake-up to islamic state. now the u.s. lays out plans to help iraq re-take mosul, including a timetable to do it. also the snappy dresser. india's premiere auctions his

golden pinstripes for charity. his critics are less generous in their assessment of mr. modi's motives. and also on the program, aaron's here. he's having a look at that what is it $270 billion poker play. >> hey, david, in the immortal words of the clash, should i stay or should i go now, if i stay there will be trouble, if i go it will be double. yes, there will be trouble either way, but greece is still telling europe reject or accept, it's up to you. thanks for joining us here on "gmt." before we go to the situation in brussels i want to take you straight to some news coming out of moeggidishu, the capital of

somalia. we're getting attacks of a suicide bomb attack. according to ministers, the deputy prime minister has been injured in that attack. there may be as many as 11 dead. there are some conflicting agency reports coming in at the moment and possibly a second government minister caught up in that attack as well. but as we understand it at the moment, a suicide bombing at a hotel in mogadishu has killed a number of people wounding others. among them the deputy prime minister, possibly another minister as well. obviously, as the details come into us here at bbc world news we will bring them to you. now, let's pick up on what is our main story of the moment. is this the day? well, for the third time in a week, the eurozone finance ministers are meeting to decide if they can agree now to lend greece more money as part of its massive bailout program. a program which equates to, get this, every greek citizen owing 30,000 euros to repay that date.

the new debt i should say, the new government in athens is determined to put an end to what it sees as brutal spending cuts required in return for that funding. the battle lines, though how dramatic they're being painted, are proving desperately difficult to break down. germany's leading the resistance, has rejected the latest greek requests and seems to have considerable support from other eurozone countries. lucy williamson is in brussels ready for all the fun and games, lucy? >> reporter: yes it really is the 11th hour isn't it? for the 19 euro zone finance ministers who will be meeting here today, there's been so much brinkmanship in this story, so much verbal hostility, that there are signs this morning that there is a deal still to be done. the german chancellor saying that the proposal put forward by greece yesterday was a good starting point for talks. so at least that's something.

ben land has the latest. >> reporter: these are uncertain times for athens and for the future of the euro. without an extension to its bailout, greece could run out of money in just over a week. ahead of a key meeting in brussels, the greek government wrote to other euro zone members and offered concessions. it would not increase spending without approval and would accept supervisions by eu officials, but germany made clear it expects more. >> what is lacking are all the measures that would have to be taken in greece. and one thing that is not acceptable we can't ease things in greece and have german and european taxpayers pay for it. this letter can only be the start of talks, but it's not enough to base financial promises for greece on it. >> reporter: there was a more conciliatory tone from the european commission as well as the french. >> i take the recent declarations and decisions of the greek prime minister and his

letter to europe as a very encouraging sign that the solution is possible and very quickly. >> reporter: but greece needs agreement from all the eurozone's finance ministers to extend its $240 billion euro bailout. at the same time the public at home expects the new government to deliver on its promises to reject the austerity agreed to by the previous administration. >> translator: we have a program that we believe did not achieve its goals, and have been carried out at a huge social cost. in essence, the humanitarian crisis. and we have a public mandate, which asks for an end to austerity. >> reporter: this will be the third attempt by the eurozone to try to reach a deal on greece's debt. both ministers heading to the meeting know their decision could affect greece's future in the euro and the future of the euro itself. ben land bbc news. >> lucy we just got a line from

the greek prime minister. gosh there's enough hype around this already, isn't it? but he's saying this is a moment for an historic political decision for the future of europe. i just wonder we hear a lot about the german resistance if we can put it that way, they've got a fair number of other leaders right behind them, though, haven't they? >> reporter: it isn't just the germans who feel that an exception should not be made for greece. there are plenty of countries in the eurozone who have been through their own austerity programs and suffered quite a lot of pain countries like ireland and spain, for example. and they feel very firmly at least so far, they've said that greece should not be made a special case. the finnish government came out yesterday and said more or less the same thing. so i think there are countries lined up behind germany and it does promise to be fairly tough talking today. >> i just wondered, it's the dreaded question really, about deadlines and timetables but how much longer might they have if it's not done today? because we're getting near the

end of the month, and some countries have to ratify this through their parliament as well >> reporter: that's right. the reason that the deadline for an agreement is today is to give those countries a week to ratify the deal in the parliament. and some countries say that they need that time to do it. so it's the end of the month, but the absolute crunch point, and who knows what's going to happen today. you can have one thing in theory and one thing in practice. and it's certainly true that mistakes here are incredibly high. both greece and the rest of the eurozone are walking a tightrope between greece on the one hand's public opinion, which wants to stay in the euro and yet end austerity for the rest of the eurozone, or at least for a large proportion of them. they say it's not possible to do both. >> i suppose we've had almost a sense of good cop/bad cop from the germans. wolfgang schauble yesterday, in particular, very abrupt and disdainful about the greece proposal. and angela merkel by the end of the day, her office say, yea,

had a good chat with the prime minister. is this about game playing? to what extent -- what is going on with the germans? >> it's certainly being seen that way, to an extent. but i think that also reflects a dichotomy in how this problem is being seen. if you look at it from a purely financial point of view, there are lots of people who say greece should not be made an exception that would have dire economic consequences to the image of the eurozone. if you look at it from a geopolitical point of view it can be quite different. the consequences of forcing greek out of the euro could be huge. that could also affect how the eurozone is seen and how it operates and its stability. so i think there is two very different perspectives that may be symbolized by those political leaders and those financial leaders. >> lucy thanks very much for that. obviously, we'll keep across this story as it develops out of brussels there. also want to keep across for you the situation in somalia. as i mentioned a few moments

ago, breaking news from mogadishu of a suicide bombing at a hotel. all the latest details, we tried to work out how much damage has been done and the casualty figures, is that we seem fairly certain that two people have been killed but also that the deputy prime minister has been wounded in this attack. as i say, we will keep across the details of that as well for you here on "gmt." time now, now, to pick up on other news around the world. and the united states says it's deeply troubled by continuing fighting in eastern ukraine and a breach in the cease-fire deal. ukrainian authorities say russian-backed rebels fired on their positions 50 times over the past day. after five days of pretty ineffective truce, we'll be asking just what is going on in ukraine in around half an hour here on "gmt." a rush hour city train has collided with a suburban train

in the zurich area of switzerland, injuring about five people. the trains crashed into each other close to the german border. one of those injured was seriously hurt while commuter services into zurich were not surprisingly disrupted. world health organization has approved the first rapid test for ebola in a potential breakthrough in the battle against the epidemic. the new procedure is less accurate than the standard test but it is easy to perform. it doesn't require electricity and you can get a result from it within 15 minutes. this could become available for use in a matter of a few weeks. new zealand have inflicted a very heavy defeat on england at the cricket world cup. he recorded the best by new zealand in the one-day game. new england will dismiss at just 123. captain brendan mccull lomb smashed the fastest in history, as they advanced to a victory

with nearly 38 over to sprayerare. not good. this goes against one of the main military tactics, the element of surprise is a good weapon, but a u.s. official has been outlining plans for iraqi and kurdish forces to retake mosul from islamic state fighters, and he said the attack was likely end up to 25,000 troops, all trained by the u.s. would be needed to take and hold mosul. this comes after the iraqi prime minister's comments to the bbc earlier in the week but the city was certainly high up on its list to deliberate at some point this year. let's go to baghdad now, we can speak to the bbc's ahmed mayer. i just wonder what is being made of these, admittedly anonymous u.s. official comments. >> well as you said the iraqi

prime minister himself concerns the news that the military operation, the largest military operation, was, and he interviewed with the bbc a few days ago. however, one of american officials announced a condition of anonymity, saying this might never be made. announcing that he wants to send a strong message, really or several message. the first one that they the americans do have a strategy a clear strategy and vision in iraq because several iraqi politicians here could side with the united states of not having a clear-cut strategy impacting the islamic state, the group of islamic extremists calling themselves islamic at a time. they want to send a message also to arch enemy iran. iran has been or is being viewed as a major player in iraq over

the last couple of months. and there are reports that iranian jets have taken part in some air strikes. also reports that iran has sent hundreds of millions in aid. so, in announcing this they want to send a clear message that we are here the americans are here, they are supporting the iraqis. they are not letting them down. >> well it's an interesting tactic, nonetheless, thank you very much, indeed, as we get the latest tonon the situation there regarding mosul. have to wait in the months ahead to see just what actions are taken. now, it is the chinese new year upon us of course. let's just get to a little bit of break, really. some rather pretty pictures in the process. that lovely crackle of the fireworks. this is the scene over hong kong, as they ring in the chinese new year. it's the year of the -- well

you take your pick, really year of the sheep, year of the goat and it's well underway now over hong kong. i've been called a control freak... i like to think of myself as more of a control... enthusiast. mmm, a perfect 177-degrees. and that's why this road warrior rents from national. i can bypass the counter and go straight to my car. and i don't have to talk to any humans, unless i want to. and i don't. and national lets me choose any car in the aisle. control. it's so, what's the word?... sexy. go national. go like a pro.

now, thailand has passed a law which bans commercial surrogacy. this follows the discovery last year that dozen of women had been contracted to produce babies for foreign clients. the law does not stop all surrogates and it's still not clear whether the rent-a-womb business will come to an end. our correspondent jonathan head has been speaking to some of the thai women who have acted as surrogates. >> reporter: when he was conceived two years ago, baby gamy was destined for a comfortable life in suburban australia. today he's growing up in a provincial thai town with the woman who gave birth to him, but is not his biological mother.

she'd been paid to carry gamy and his twin sister for an australian couple who she says he rejected him when they learned he had down syndrome. i have no regrets, she says. i don't blame anyone. i see gamy as a blessing. a charity has been set up in australia to help support his upbringing in thailand. it was the price of this little boy that forced the thai government to confront this braisingly commercial nature of what's back a baby trade here and now tried to tighten the law. but enforcement has always been a problem in thailand and the lure of the money to be made is still a big temptation. the full extent of thailand's surrogacy business was exposed by the discovery of 12 babies all fathered by one mysterious japanese man. suddenly, there were raids on clinics all over bangkok.

babies were taken into state care. i met dang a factory worker wod given birth to twins for the japanese man. she didn't want to be identified. she said she'd been paid the equivalent of ten years' salary for the babies. so how did it feel to give them up? >> it was a shame i had to do that, but what could i do? i had been hired to be a surrogate. but if you ask would i do it again, yes, i would. if it was legal. anyone would. because of the money. >> >>. >> reporter: for some surrogates, though, the deal turned sour. she and her husband sought shelter late last year at this women's refuge. they kept their faces hidden. she'd been harassed by her agent, she said, and then the police, to go overseas for her birth. that changed her mind about handing over the baby. >> would you like to keep the

baby if you can? even though you don't know who the father is? >> yes. if they don't keep chasing me i will love and take care of this baby. >> reporter: after staying here for a few days nampoon and her husband left and disappeared. perhaps back to her village. nobody seems sure. by now, the stranger's baby she was carrying should have been born. hopefully to loving if impoverished parents. jonathan head bbc news bangkok. now we've got a bit of a weather bulletin for you from all parts of the world, really. we'll start in australia where two powerful cyclones have hit the northeast of the country. they've caused some pretty widespread damage as well. hundreds of people have been evacuated, thousands of homes are now without power. one of those storms is expected to move a bit farther south down the queensland coast. and officials there are warning

residents they must prepare for high tide and flash flooding. phil mercer has more. >> reporter: a ferocity has taken queensland by surprise. the cyclone intensifyied unexpectedly, and when it hit the coast, it unleashed its full fury. the category 5 system the most severe, was bearing destructive winds, whipping up the sea, and dumping large amounts of rain. one official said the storm was a monster. the authorities in the state of queensland have warned that marcia was so powerful that widespread damage was inevitable. >> this is going to be a calamity. there is absolutely no doubt about that. our primary focus from this point on and it's what the premiere has certainly made sure that we are focused on is the safety of all human life in that area. >> reporter: the storm has been downgraded but remains dangerous, as it tracks to the south near the coast and towards more populated areas.

hundreds of residents have crowded in to evacuation centers, as the chaos continues to unfold while others have sought refuge at home. >> my message still stands firm. stay indoors, don't go outside, we're not through this yet. stay with your family listen to your radio, and don't go out on to the flooded roads. just stay inside. >> reporter: residents say that amid the damage and flying debris is the deafening noise that's so frightening. some areas are expecting downpours of more than 500 millimeters over the next 24 hours. this is a country that's well used to nature's extremes. >> we are used to difficult and dangerous summers in this country. it's good that we have managed to get through this summer so far without too many major incidents, but this is a very serious storm and let's hope that we can get through it without too much damage and certainly without any loss of

life. >> reporter: australia has been bracing for not one but two tropical storms. in the northern territory, cyclone lamb has crossed a sparsely populated stretch of coast and has battered several isolated aboriginal communities, but so far, no injuries have been reported. cyclones are low pressure systems that form over the warm waters of the tropics. their powerful winds can extend hundreds of kilometers from the eye of the storm. phil mercer bbc news. >> well australia may be used to that, but the middle east is not quite so used to this. heavy snow blanketing many parts of the region in fact. jordan's capital, amman, was also at a standstill. cars trapped in deep snow in the course of friday. the country set to remain under a polar front for the next few days. more heavy rain and snow particularly there. in israel jerusalem's old city was captured in a rare layer of

white. quite pretty i have to say, after a snowstorm shut down the roads in and out of the city. a lot of residents have been warned, though they should stay indoors. keep warm. and they're more used to it in parts of north america, aren't they? they've been reporting on a big freeze on east coast of the u.s. throughout the week. let's just show you some pictures of a very important rescue. actually, it's a double rescue for lola and thunder. these are the two dogs who were -- managed to find themselves stuck out on the ice floe in the river there. this was in massachusetts. lola is rather smaller than thunder, but when you see the pictures, you can see why all the fuss to bring her in. luckily enough having bolted out on to the ice, they were able to regain firm ground. thankful their keepers, not that they've seem that impressed by the fact they've been saved, to be honest but there you are. you know what they say, always read the small print before you splash out on a big

purchase, and never more so than if you're thinking of bidding for this. it's the pinstriped suit worn by india's prime minister, narendra modi when he met president obama. it has just gone under the hammer. the small print is the giveaway actually. if you look really carefully there, you'll see woven through the fabric is his name narendra modi in gold threads. perhaps not what everyone would want to wear but that's one item among a whole variety being auctioned by the prime minister's office to raise money for the cleanup of the river began began begangan da. have what's the damage? >> reporter: well it's the most anticipated item in that auction has just gone down for almost $700,000 which is much, much more than its actual price, that of $16,000. so well yes, the money is going to go for cleaning up the

ganges, as you mentioned, but a lot of anticipation that had been building up around this suit that the prime minister of india wore when he welcomed u.s. president barack obama, has finally come to an end and gone down for $700,000 u.s. >> $700,000 is extraordinary for what some would say is a rather tacky garment. others would think it's rather impressive. but that all sounds great if it's for charity. is mr. modi coming out terribly well from all of this then? >> well not quite, because there has been al of controversy around this suit. if i can say that it's been the most talked about and the most controversial suit in the industry history of indian politics, some are calling it a fashion faux pas, because it has his name pinstriped all over the suit with and some are calling it a pr faux pas, because he's someone who raze up the rank you know from being a tea vender and rose to be the prime

minister of india. that was the imagine that he sold before he became the prime minister but now his fashion statement and his designer suits are making headlines for the wrong reasons in india. >> not so modest now, is it? thank you so much for that. thank you for watching "gmt." stay with us. we'll have more on somalia and the situation in ukraine.

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hello. welcome to "gmt" here on bbc world news. i'm david eades. in this half hour is there really a cease-fire in ukraine? as reports continue to flow in of violence in the east and of russian arms crossing the border, we'll ask if the west has any grasp of moscow's strategy in the region. also would you like to thank in just 45 seconds? the challenge facing every oscar winner as awards night beckons.

there's been more fighting reported in eastern ukraine, despite efforts to ensure that the recently agreed cease-fire takes hold. ukraine itself says there's been some shelling by rebels near the coastal town of mariupol while rebels accuse the government of staging attacks against residential areas of donetsk. as for the united states well it says it's deeply troubled by reports of that fighting, despite, of course the cease-fire agreement. now, here in the uk a report by a foreign policy committee at the british house of lords says britain and the eu as a whole have been sleepwalking into the crisis in ukraine. the damning report says the eu simply fails to read the signs that russia was starting to view europe as a rival. the bbc's diplomatic editor, mark urban, has this report. >> reporter: president putin was in hungary this week honoring red army war dead among other things, walking as he often proudly does in the footsteps

of his communist party predecessors. so is there a new cold war? >> in the cold war, there was a soviet union with leaders who were controlled by or at least, at least bound by some structures in the kremlin in the soviet union. mr. putin is clearly in charge. and he's almost solely thisin charge. this is frankly more dangerous than the cold war. >> reporter: history never quite repeats itself. economic sanctions are part of this new confrontation. mr. putin regards them as a form of aggression. and his officials argue europe is following an american lead. >> i see it as a big mistake, on the part of the european union, perhaps a deliberate mistake following in the footpaths of

another country, which never has extensive economic links with russia as the eu has. if you look back at the volume of freight within russia and the european union and compare it to the level of trade between russia and the united states, our trade with the eu as always been 11 to 12 times as big. >> reporter: proxy wars were another hallmark of the cold war, made necessary because open confrontation between two nuclear superpowers was just too dangerous. so that's what ukraine is isn't it? the kremlin blames the west for overthrowing the old government while russia's nervous neighbors would argue only about whether its proxy or blatant aggression. >> the ukraine crisis in have many ways was a wake-up call for

much of europe as to the true intentions of putin's regime. however, the baltic countries, estonia among them did not need any waking up. we were pretty much aware of the things associated with putin's policies all along. we have been in georgia in 2008 that putin would not shy away from using military power to advance his political goals. >> reporter: add to this mix, military brinkmanship. yet today, russian bombers appeared. the same aging planes that used to do this years ago. russia doesn't deny it's back to the future simply insisting its right to be in the air space and pointing to nato's own rights.

>> the russian air space is just returning back to the previous practices of regular training flights in international air space. compared to the number of flights by the royal air force and other major air forces the number is hidden schedule. >> reporter: if all that trading accusations sounds a lot like the propaganda war of yesteryear it isn't entirely. president putin is uncon trained by communist ideology and keen to define his own version of the facts. >> one other change from the cold war is that this propaganda is not based in fact. during the cold war, the soviet union at least paid some attention to whether or not it was true. they had an argument and they made the case as well as they could, but they seem to be

willing to agree on facts on the ground. mr. putin doesn't. >> reporter: president putin harks back to the soviet union at the height of its power and self-confidence. russia today is smaller, less strong, and more integrated into the world economy. but, cooperation with the west is declining, capital leaving, and some familiar cold war behaviors have reappeared. >> joining me now in the studio is john peek europe editor for "the economist." thanks for coming in. i was going to start by saying is the cease-fire's doomed? but it's like an emperor's new clothes, right? never really is it? >> i think a lot of people looking at the minsk agreement expected it to last. i mean i have to say, it was more overtly breached than might have been expected. and it is still true that in places like germany, they still think we can pretend it's going

on. but after today's events no the cease-fire is pretty well buried. >> because debaltseve was a problem area wasn't it? clearly, and perhaps they were always going to fight until that was resolved. after that one would hope that if something was going to work, it might have worked now. >> they might have had a pause, but they seem to have gone straight on. people think the rebels maybe want to enlarge their territoriesfort. mariupol is one of their possible goals. but it certainly means the cease-fire is pretty much gone. >> the ukrainians are today saying there are more russian trucks and missile launches and et cetera coming across the border. if that is true is it a reality to say that the west has been duped by this whole second round of minsk agreements? >> i think you would have to ask questions about angela merkel and francois hollande who were in minsk, with what they thought they were doing and whether they seriously believed that the cease-fire would hold or not. but i would have to say the

americans, for example, and nato, were pretty skeptical about whether it would lead to any -- >> they were deeply skeptical, weren't they? was it wishful thinking do you think, by the germans and the french? it's almost as if they willed something to happen. >> i think what they desperately think there ought to be a diplomatic solution. i would say that the way putin has behaved and indeed the rebels, who he doesn't necessarily completely control all the time suggest that there is a diplomatic solution at least now, it's going to be more fighting and aggression of when it's going to stop. >> this sort of brings us on to this issue that's been raised here in the uk just today. the law's select committee saying that the eu and the uk in particular has been sleepwalking into this conflict. is this a fair comment, do you think? >> sleepwalking is quite a loaded term. i think people -- >> he's blase about it. >> a bit, possibly. i think georgia 2008 was quite a big wake-up call which we perhaps should have heeded a bit more openly. i mean many people said look

putin has clearly moved very sharply away from democracy. he's made very clear he was willing to fight a war to stop georgia fighting nato so ting we should have thought about it a bit more then. but on the other hand, at no point did he say, i regard the european union as an enemy. that is relatively recent thing. so he has moved his position and hardened it. perhaps we should have been more alerted the last few years and watched what he was doing. >> and are the calls we're hearing now, watch out for the baltic states almost anywhere where there's a substantial russian-speaking minority do they hold water, do you think? because some will see will putin as being on a bit of a roll now? >> well he's clearly winning in ukraine. the ukrainian army is pretty poorly equipped and led. so certainly, for him, ukraine has been a success. against that you know, i think he would definitely pause before he takes on nato. i mean i don't think he could beat nato. and russia is suffering is a lot

from the sanctions that have been imposed by the west. it isn't a clear-cut victory for putin. the economy is in real trouble. and i think he would hesitate before he took on the battlelticbaltics. >> the americans say, we'll put weaponry and material into the ukrainian's hands, if need be. but that's an article v moment when a nato member is attacked and confronted and nato has to come in behind it. if it's latvia or lithuania or estonia, do you believe, that would, nonetheless happen? >> i think if they were under attack i have no doubt that the u.s. would say, that is an article v situation and we have to go to their defense. otherwise, i think nato would lose all credibility. and i think the russians must be aware of that. what's perhaps more likely and more difficult to deal with is the notion that it wouldn't really be a straight forward attack. it would be stirring up a bit of trouble, encouraging the russians in latvia to sort of be a bit rebellious or ballsy.

they did this kidnapping already once. they could call a little bit of trouble there, rather like what they're doing sending aircraft down the channel. it's the kind of thing where there'll be little provocations. >> bielwe'll watch this. john, thank you very much. let's catch up with the business news. that means aaron. of course, greek. >> this is hot off the press. we're starting to see who's siding with bho who at the moment. the netherlands has sided with germany. the finance minister from the netherlands say the letter is not clear enough the greek letter, the greek proposal is not clear enough to be accepted. so things -- and this is the head of what two hours away? they're going to have a meeting. it's going to be a very tough one, indeed. thanks david. hello, there. of course we start with greece and its battle to ease the terms of ilts bailout and secure new

funding before it runs out of cash and faces being forced out of the eurozone. of course, as you've been hearing, those finance ministers, as i just mentioned, from the 19 eurozone nations, they meet this afternoon in a couple of hours to consider a greek proposal to extend its loan agreement for another six months. on thursday again, i'm sure you crossed it germany very quickly rejected the proposal, the greek proposal calling it a trojan horse, allowing athens to dodge its commitments. let's just take a look at some of the details. now, many greeks they are preparing for this possible exit from the euro. why? because take a look at this graph right here. this shows the deposits the withdrawals, i should say, let me correct that. greek households and greek businesses sucking all that money out of greek banks. they have been doing that for months. it is thought that 2 billion euros a week is now currently flowing out of the country. so if you look at this in terms of the greek banks and the

deposits they hold it has been a mighty fall if you will so what are we looking at just over $50 billion euros. this according to the european central bank. of course all that money is leaving the country, because without a bailout, greece might be able to pay the hundreds of billions of euros and debt that they owe to the many creditors. and these are the creditors that greece owes. of course the euro zone the international monetary fund the european central bank greek banks, foreign banks, the bank of greece which is their central bank, and of course other private loans, if you will. not only will greece be able to pay those debts, you've got to look at how they will pay, what time frame that comes up who they owe first. now, the eurozone, talking about debt, and what greece owes it. but if you look at this this is very interesting. blue is imf. red is european central bank. and if you can see, turquoise or light blue there is the

eurozone. greece doesn't owe any money to the eurozone until 2020. the most immediate payment going to the imf and the european central bank. so that's very interesting. you can see, at least, for the next, what five years, and then sort of toward 2024 and onwards, it's eurozone money that he owes. well ralph is the head of economic research and put that graph together. he joins us now. i think he's somewhere around. there you are. i can see you. raul, great to have you with us on the program. you put that graph together and that's really interesting to note. the eurozone scrambling saying you owe the german taxpayers this and that. but hang on greece doesn't need to start paying the eurozone until something like 2020. the most immediate is payments back to the ecb and the imf. is greece negotiating with their own people? shouldn't it be negotiating with european central banks and the international monetary fund? >> certainly, that's one of the takeaways of that graph.

there are two key takeaways. the first is that actually this greece has to pay out a lot to the imf and ecb, over 15 billion euros. so 2015 really is a crunch year for greece in terms of funding terms. and secondly as you say, most of the payments in the short-term go to the ecb and the imf. this is crucial for a couple of reasons. if they negotiate the debt relief program with the eurozone, the eurozone can't really speak on behalf of the ecb and imf. and actually, throughout the crisis and throughout this negotiating period, both the ecb and imf have said we're not going to renegotiate our debt. and legally, they're in a very strong position. >> so, hang on. let me just get this straight. so if and it's a big if if greek does get a deal with the eurozone, could we possibly see the ecb and the imf a bit more open to renegotiating? >> it's possible but i think, you have to look at the imf's history first off. it's been the most senior cert for 70 years. it's not clear that a crisis in

greece or a relatively rich european country compared to some of the imf's emerging market members are really going to change things. the ecb has equally said it can't restructure these bonds, because it holds bonds for eurozone countries and if it restructures greece, it may have to restructure those other ones. and that could end up mounting up to quite a large loss for the ecb and certainly undermine its credibility. so i think even if you get a short-term deal today, we have some seriously tricky negotiations with greece going forward. and it's going to be very hard for greece to find this money, to meet its cash flow payments for the ecb and imf. >> before i lose you, let me ask you this. what do you think. we're starting to see who sides with who. we've just had this release of information saying the netherlands are siding for germany. germany's right. this letter is just not clear enough if you will. did you see who possibly -- greece will have to blink again, surely. they'll have to surely surely

compromise. >> it's always been the case that greece has overplayed its hand and has always been in a situation where it's had to give in more and move more. the new greek government has always thought that threatening the commit or the risk of someone leaving the euro would bring other members round and they would be able to coral more support from this anti-austerity country such as france and italy. but in fact the way it's worked out is that most countries wouldn't stick to their current commitments. they're not willing to take losses on the loans they've given, because that creates all kinds of domestic political problems, and certain countries are worried about giving a populist party anything because they have their own populist parties in their own country. so i think syriza has overestimated its hands and is having to move more and more. and by the end, what we'll see, it will be a deal very much for german and dutch terms. >> raul appreciate it. we'll talk to you soon. thank you very much. let's move on from high-stakes negotiations to high fashion.

yes, london fashion week is just getting underway. it's the focal point for the uk's multi-million dollar clothing industry. if you take a look at some of these, in fact the fashion industry contributed an impressive $71 billion to the british economy in 2014. currently, nearly 800,000 people work in this fashion industry here in the wuk, whether it's making the clothes or developing the designs, it is an industry on the move. last year again, 2014 consumers spent nearly $16.5 billion with online clothing purchases, a number that is expected to nearly double in the next five years. so how can designers make sure they keep up with the changing trends when it comes to running their businesses? well, let's get more on that one. carolyn rush is chief executive of the british fashion counsel and joins us. great to have you with us. thank you for giving me something else to talk about, not just greece. let's start with you. this is big business. but when we talk about the changing trends we're not talking about the changing

fashion trends we're talking about the changing trends in the industry. is that difficult for those who work in it, to keep up with it? >> well it makes the industry a very exciting one to work in. and it's a very competitive history in terms of showcaseing products creative grounds. and so the first to market the first to maximum an opportunity, to utilize and access things like ecommerce or social media is really proving to be an exciting time for the industry. and it's an exciting time for new businesses because for things like ecommerce, they have direct access to their consumers and now opportunities to build their businesses. >> can i ask you this though? i've seen some reports off the back of london fashion week starting. is there a problem or continued problem for designers protecting their designs? we live in this world of fast fashion. apparently you know, you can spot something on the catwalk and within days it can be you know, in a high street store. that must be very hard isn't

it, for young designers to protect their designs? >> it's a continual dialogue in the industry is that the ip obviously, retains with creative businesses that share events like london fashion week and influences of that event seen in the high street. and how close influences are to the main designer seems to be the point of contention. but for many of the designers here, it's that their growing their businesses it's that it's about showcasing the very best of their talents and as their businesses grow they're better able to protect themselves. >> carolyn, unfortunately, we're running out of time but we really appreciate it. short and sweet. good luck with the rest of london fashion week. thank you, from the british fashion council. so lots going on. follow me on twitter, tweet me i'll tweet you right back. you can get me @bxbcaaron. my weekend starts right now. >> you can run, but you can't hide. >> no, greece is still right there. angela merkel and francois hollande are meeting now. we're expecting some sort of news statement or briefing from

them in the course of maybe the next few minutes. we'll find out. but if it comes in our time, we'll bring it to you. you know, if you play football for a long time like i did you're gonna learn to deal with alot of pain. but it is nothing like the pain that shingles causes. man when i got shingles it was something awful. it was like being blindsided by some linebacker. you don't see it coming. boom! it was this painful rash of little blisters. red, ugly stuff. lots of 'em. not a good deal. if you've had chicken pox uh-huh, we all remember chicken pox. well that shingles virus is already inside of you. it ain't pretty when it comes out. now i'm not telling you this so that you'll feel sorry for me. i'm just here to tell you that one out of three people are gonna end up getting shingles. i was one of 'em. take it from a guy who's had his fair share of pain. you don't want to be tackled by shingles. so please go talk to your doctor or pharmacist.

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i'm david eades. the top stories this hour for you, hope for progress at the eurozone finance minister talks to solve the progress over greece's bailout. a quest for a loan extension offers one. so you can guess who's practicing their acceptance speeches is. an awful lot of people doing that. what do you say, though in 45 seconds, that's all the time you're being given. speechwriter brian jenner has a

few suggestions. >> my name is brian jenner. i work as a professional speechwriter and here are my tips for delivering the very best oscar acceptance speech. when you're reacting to the fact that you won an oscar, i think the most important thing is to be utterly surprised, even though you've been rehearsing for it for the last three months. you can script the filler lines. wow! holy mackerel! something like that silly, which gives them a chance to think about what they have to say next. when you stand up at the lectern, you have to get the audience's attention, so a little tear a deep sigh something quivering in the voice can help you get settled and ready to deliver your speech.

whenever you give a speech it's absolutely essential that you've written out your text and that you know exactly what you're going to say and thinking about how you thank each individual person. you've only got 45 seconds, and that really should be 90 words, which given that actors and actresses, it's their job to remember words, that shouldn't be too much of a problem. some people use little cards to remember what to say, but i've noticed that they tend to go on 40 seconds longer than people who don't use notes. if you have a prop like this, when you're standing up giving your speech there are many ways you can use it. you can hold it down here you can hoist it in the air, triumphantly it's a great way of using a gesture to express your emotions. if you want to be remembered and you want to get on the news programs obviously, a good one

liner is absolutely a brilliant way to do it. i would like to say a word about my director. he has about two temperamental outbursts a year each lasting about six months. [ laughter ] >> at which point i'd like to say, thank you for watching "gmt." good-bye.

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