>> victory. the anti-austerity policy prepares to take power in greece setting the leader on a collision course with the european leader over debt. >> as many greeks sell fwrate euro slides to its lowest flelve more than 11 years. a new troubled chapter will be high on the agenda for eurozone finances ministers when they meet later today. >> and ready for takeoff. i.a.g. is set to have made an

improved offer which has been accepted by the board of the irish. >> for our top story countdown will be live in athens bringing you every development from the greek capitol in the wake of the historic election which is sweeping the anti-austerity party to power. >> welcome. >> it's 6:00 here in london on this monday morning. five years from the start of the biggest bail glout history. the people of greece voted against the belt tightening measures that came as part of the package. the anti-austerity party won the general election putting the country on a clix course with the e.u.. >> addressing a huge crowd of supporters the leader said that greece had quote turned a page

leaving behind five years of destructive austerity, humiliation and pain. >> the latest figures show he's set to fall just one seat short of an absolute majority and will have to negotiate to form a coalition. >> let's get to athens. good morning. an historic night for greece. >> it was an amazing night i have to say. i was outside the head quarters when alexis arrived last night. huge cheers going up for him. horns being tooted on the cars. it was an incredible scene. a sense of relief i got the impression from the activist and potential particle meant tarnes they've done what they set out to do. they are a few seats short but an amazing night. he greeted all the activists and then moved on to the university

of athens where incredible scenes were as well. the whole square filled with supporters and europes there as well italians and spanish there as well. he walked up on the steps and said clearly greece has reached a turning point. >> the sovereign greek people today have given a clear strong indisputable mandate. greece has turned a page leaving behind the destructive austerity and authoritarianism and leaving behind five years of humiliation and pain.

>> out going prime minister made the call around 10:15 last night to concede. he spoke to him and made it clear he felt that his government had delivered for greece. >> the greek people have spoken and we all respect the decision. i've got my conscious clear. i received the country on the brink of disaster. i was asked to hold coal that was on fire in my hands and have done it. many were not giving us chances of making it but we made it. >> now the rest of the day looks pretty interesting i have to say. what we're going to get now is a little bit of government forming. potentially one, maybe two seats

short of forming a government. what is going to happen around 10:30, the leader of the national greeks, the very small party did get in two particle sment going to have a meeting. these two have said they could potentially form a government. this party was thrown out the debt but stay in the eurozone. that will be interesting to see how that conversation goes. we'll have a conversation with the head of the river party. so government forming going on today. as they go with the national greeks to get over that 151 line, that's going to accepted a very strong message o.t. rest of europe. the other key question is who is going to be the finances minister. government forming, the key question is who is going to be

the finances minister. we'll see how the morning progresses. plenty still to happen here. >> worth reminding ourselfs the state of play in greece which is 240 billion euros worth of debt on the books for renegotiating forgiveness or the duration on them. these are the 10-year government bonds this. is 25% unemployment rate. the euro trading down towards that 11 year low. we're just off that level. the question you have to ask yourself is this victory or quantitative easing or dollar easing driving that trade. growth is on the card. you are looking at a growth in greece of 1.9%. they need to deliver a lula pivot that. is what lula took to power and

reassured the markets any would be met with structural reform. that has yet to be tested. in terms of liquidity that is going to be under the microscope. these offer a e.f.g. approach for liquidity in the past few weeks. deposits were withdrawn from greece in the runup to christmas. institutions have to pay 1,112 basis foints fund thepses. to understand greece is to understand the euphoria that went into the equity markets through the space of last year. you can see this real runup in the greek equity markets but that real underperformance. down 29% was one of the worst performing equity markets in europe last year. we saw 2012 levels. market reaction this morning

critically important. you are seeing money flow into treasury. i posture the question is that more to do with political issues. you are seeing record low yields in terms of 30 years. the equity markets at this stage, how do we price our futures at 7:00 a.m. in the morning. this is the benchmark down a half a percent. dow jones down .7. and s&p down. equity markets are skiddish. that's the state of plate. 25.5% unemployment. will si pruss deliver? >> russia may face further repru cushions after violence in ukraine. rockets killed 30 people on saturday. this dash board camera footage shows the impacts of one of the

rockets. in a phone call the german chancellor urged vladimir putin to adhere to the september ceasefire. speaking after the meeting of his national security council, ukraine's president called on the e.u. to take action. >> on monday there should be a meeting of foreign ministers of the european union where we'll coordinate further steps to increase pressure on the russian federation. >> the worsening situation in ukraine and the victory in greece are likely to figure in the discussions between prime ministers when they meet later today. >> argue cross what is going to be on the agenda as the finances ministers come together. >> last night they are talking about the need to renegotiate debt but all you need to know

about the showdown came from a short statement from the german finances ministry last night said the agreement reached with greece remains valid. there is going to be a collision between the german side of things and the french who may be more sympathetic to restructuring debt when they meet later today. to give you a sense for how strong the german opposition is to any restructuring i'm going to read a quote. he won't be directly involved in the negotiations but here is what he said last night on the german broadcast. he said i hope the new government won't call into question what is expected and has already ban cheaved. i hope the new government won't call into government -- sorry for reading that twice. there is opposition to any sort of restructuring any sort of

additional restructuring for that bailout. 68% according to an ard survey oppose any sort of restructuring. there are pockets here in germany. they celebrated last night the victory in greece. ditto the greens to spend in europe again. the finances minister of france has indicate whad he thiss. we'll see what happens 3:30 in bruss sells. >> finances ministers are going to be discussing ukraine. what are they going to be saying on that subject? >> as much as ukraine is a political crisis a humanitarian crisis it is a financial crisis as well. it was very clear last week. have you 7.5% economic contraction. there is a budget short fall from ukraine of 15 billion euros. the e.u. has talked about giving an additional $2.1 billion.

there isn't enough money out there. they are going to need more. you talk about a bailout for ukraine while holding the line on greece could be an in congress moment in bruss sells later today. >> thank you very much. >> on twitter one of the trending topics is greece. i'm sure that will continue to trend throughout today. that's our big story today on bloomberg. you can follow us and tell us what you are following yourself. >> coming up it's a new political era for greece with victory, what does it mean for the greeks and the whole of europe? we'll put a context next.

>> i.e.g. made an improved offer for two euros 50 cents a share. the offer which has the support of the board would value the airline at 1.3 billion euros. the crippling cyber attack on sony disrupted accounting systems leaving sony unable to produce the report for the

february 16 deadline. the company sought permission to file on march 31, the last day of the fiscal year. >> the british high streets chain is for sale. the retailers has several approaches over the last few months. they will explore whether any of those can be brought to a conclusion. >> a plan for new leadership for standard chartered may be reported next month. a replacement is likely to be in place by tend of the year. access capital is merging to recreate almost $11 billion.

the merger comes amid accelerating consolidation within the industry and will be one of the largest five reinsurers. >> the election in greece. let's bring in the senior strategyist. it's interesting to have that kind of insight. the government party will be for greece and its people to regain their lost dignity. there will neither be a catastrophic clash be accepted so says mr. tsipras. what are we set better battle royal or a man who wants to stay in power? >> i think he will want to have a conciliatory tone towards his european partners. his election campaign was run on hope and that's what made him win.

but we think that he will be more con deuce toif speaking with his european partners now that he is in power. the key uncertainty for the markets and the euro is what sort of coalition tsipras will put together. >> what sense do we have what that will mean for the future direction of greece? >> it's still unclear. we're still counting the votes. he's due to meet with the two other leaders of the two other parties in greece to see what sort of coalition he'll put together. but i think the markets will be on tinder hooks until we see who he forms a coalition with later today. but it's still quite a fluid situation when it comes to what is going to be the outcome of this and what sort of political coalition we'll see in greece. but it's clear greece is at the

beginning of a new political era. it's clear. >> where l the coalition last? our guest is going to tell us he doesn't think a coalition will last six months because it's having to deal with other parties but the lack of experience in government and possibly instability within the party itself. >> again, that will be a key uncertainty for the markets. >> he was calling for his dream was parody. we have a couple of different pressures at play here. is it political change in greece, how big an impact on the currency is it really going to have versus dollar strength? >> it will have an impact today. it will have an impact in the short term just because of the magnitude of the uncertainty and the proposals that this new government is going to put

forward, the way they are going to negotiate with the eurozone partners, very important for the euro in the short term. longer term though we know the euro is on fairly solid ground when it comes to its institutional support, institutional framework is quite strong. but the head winds are building for the eurozone. we know quantitative easing has kicked off. we know the ecb is comfortable with a weaker currency and we know that there are things on the reform front that need to occur in the eurozone. if those don't occur, the euro will continue to trade lower. >> what's the asudges the market is making right now? is the market assuming that's not going to happen because the greek people have shown in polls don't want it to happen or could it happen by accident as a result of a confrontation between the new prime minister? what is the market assuming will

happen on that front? >> the market assuming uncertainty in the short term and i don't think they are assuming correct. i think the eurozone leaders will do whatever it takes to keep the eurozone together. >> how giving are they going to be to tsipras. are they going to meet in the middle? how giving will they be when it embarks on these talks in coming days and weeks? >> only time will tell. we have to see how things pan out in greece. >> both sides talking tough before the election. in reality how do you think the discussions turn out? >> we haven't heard much from the eurozone leaders so we know they are meeting today. i think the comments, the headlines from them today will be important. it will set the tone for the dialogue. so only time will tell. i think today will be quite important for the markets. >> thank you very much.

>> we've got a look at what is coming one the fed. stay with us for that conversation. ♪

>> welcome back. we talked about greece. let's talk about the u.k. we are going to get g.d.p.

figures late they are week. oil is clearly a big concern or an opportunity depending on your time horizon for many central banks deliberating about rates this time. >> it is a big issue. the oil price boosting some of the growth figures and the lower oil price will be a boost to growth. it's just the inflation figures are coming in much lower now. and what we're hearing from policy make 76ers they will look through some of the weakness in the oil price. we have to remember central banks have policy two years ahead. our view is the bank of england and the fed will do that and be two of the foirs hike rates. >> that debate goes on. we'll see. look through the commodity prices, be warry on wages and made comments in the "new york times." he's trying to bring everybody

back to this. >> the data speaks for itself in the u.k.. the wage growth is picking up. evidence pertaining to wage growth is showing a pickup. i think that effectively is what carney was communicating. that was over the weekend. the out look in the u.k. remains solid. it remains strong and the g.d.p. figures, the retail sales figures we saw last week really reflect that and we expect that to manifest in the currency as well. >> euro sterling and euro dollar. i snuck in two. >> and euro weak nng both of those cases? >> yeah. >> i think euro brazil. >> that's a new one. >> long brazil short euro. >> that was exotic right.

>> thank you. >> that's exotic for you, a handshake in india as a deal being held. we have obama's visit next.

>> time to check in on how the foreign exchange markets are looking. have a look at the bottom of your screen. the euro is weakening. we've broken seven and we're just below that level for the first time since 2001. europe to china is the biggest import area. the dollar trade higher as well.

in the short term the euro will drop. is it q.e. or the dollar haven trade versus syriza going to power. traders are the most barrish since 2011. that will help the exporters. 110 could be hit pretty quickly. that's your euro dollar trade. let's go have a look at the ozzie dollar. what you have is a move lower. the reserve bank of australia

meets next week. trade letters putting in a 47% probability of a rate cut. iron ore is at the lowest price in two months. volitility is rising on this up to 14%. you haven't seen that level of volitility since 2013. that overall trajectfully ozzie dollar. you begin to understand the momentum with which it's beginning to break down below the .80 level. >> u.s. president and indian prime minister say the two nations have achieved a break through on civilian nuclear projects. the agreement should speed up progress towards implemented a deal to provide india with american nuclear fuel and reactor components. >> the u.s. and e.u. have warned russia may face further

repercussions. rocket fired from rebel held territory killed 30 people saturday. in a sunday phone call german chancellor urged vladimir pute tony exert influence on the separate rios to adhere to the september ceasefire. >> the u.k. party predicted his party will win more than three or four seats in the general election. u.k. is unlikely to join a coalition government after the election but he was open to negotiation on a referendum. >> we couldn't do any deal all the while he's turning his back on a referendum on the european union. we could potentially do a deal with mr. cameron on this but not unless the timing and terms of the referendum were right. >> in greece the anti-ausman ter

si si rids za party -- anti-austerity syriza party wins the election. despite winning the most seats syriza fell one seat short. the victimly set for the confrontation between greece and the e.u. over the terms of the bailout program. >> let's go to athens. guy johnson is there. this is truly historic since 1974 since the reintroduction of dem sni greece have alternated in power. for syriza to win is a semiknoll moment for the country. >> a massive moment for the country. we were outside syriza head quarters last night when mr.

tsipras arrived with a police escort. huge cheers going up as he arrived. you got a sense of relief. they have changed history. a big move. we've never seen anything like this during the current period of democracy for greece. we then all traveled up to the university of athens where he spoke to the crowds. as you say, he really talked about this being a turning point for greece. >> the sovereign greek people today have given a clear, strong indisputable mandate. greece has turned a page. greece is leaving behind the destructive austerity fear and authoritarianism. leaving behind five years of humiliation and pain.

>> out going prime minister concede around 10:15 last night but it was interesting. he spoke about the fact he left greece in a better place than he found it. he said his policy had really delivered for greece. >> the greek people have spoken and we all transport decision. i've got my conscious clear. i received the country on the brink of disaster. i was asked to hold coal that was on fire in my hands and have done it. many were not giving us chances of maging it but we made it. >> the big question what happens next this. is when the political horse trading begins isn't it? >> it was incredibly close. just shy of 151 for syriza so

yes we now get into the very interesting subject of government forming. at 10:30 we have a meeting between syriza and the independent greeks. the leader of that party made it clear he doesn't want to see anymore austerity. he wants greece to renounce its debts but stay in the eurozone. that's fairly similar to where syriza stands. they've talked they may be able to form a government. that sends a message there is going to be a very hard line coming out of athens. then a meeting later on with the party that got into government last night into parliament last night. and then we get into the question of who is going to be the finances minister as well. a lot of the ministers in that meeting will want to know who they are going to be negotiating with and that person who they choose for the finances minister will send a strong message about

the tone and line that will be delivered from agent innocence terms of that conversation and whether or not there will be some sort of renegotiation. a few things to still be decided in athens. but it will be very clear we a strong sense of government here. we have 149. that gives syriza that sense it can proceed with its policies and if they can form some sort of government here, i think they will have a fairly stable base from which to work from. from agent tons london back to you. -- athens to london back to you. >> violence escalated in ukraine over the week wednesday rocket attacks. world leaders are dialing up the pressure on vladimir putin. what have the leaders been saying about the situation? >> they are very concerned about

over the weekend. e.u. foreign ministers are set toe gather on thursday. that's an emergency meeting of the ministers. he has been very critical of russia throughout this conflict. very dramatic pictures. a senior parliamentarian in germany and part of the chancellor's coalition saying if this attack is proven was carried out by the russian back separatist and that is something nato and the united states and many e.u. countries already hinting at. if this is a sign of a larger front, sort of a new offensive by the separatist and fits proven that russia is behind this, then there is no other choice but more sanctions and

we're hearing some very similar from president obama. have a listen. >> we are deeply concerned about the latest break in the ceasefire and the aggression that the separatists with russian backing, russian equipment, russian training and russian troops are conducting. and we will continue to take the approach we've taken in the past which is to ratch chet up the pressure on russia. >> now we've talked about this city before. i was there in september. it's ukraine's front line town. it's important because it stands smack between the rebel controlled east of the country and crimea. if putin wants a land bridge between the tworks then these rebels have to take the city. that's the big concern. perhaps what we saw over the

week wednesday the shelling of this city, we didn't see any troops move into it, that could be a sign there is an intonings do a land bridge. >> obama says we'll take the approach we've taken in the past which is to ratch chet up the pressure on russia. >> the europeans are more reluctant. we're closer to new sanctions against russia than any point since september. there was talk about how the sanctions should be kept where they are because of the concern about the russian economy getting hurt more than the europeans wanted. there was talk the sanctions should be rolled back. that's over. a couple of things to watch today russian market wise. 6 billion bonds issued this morning. that created quite a bit of turmoil the last time. the russian stock market, one of the top 10 performing stock

markets year to date. it's all about the time frame, out there. >> having said that, it's stote close down this morning. oil of course down. the ruble got a little bit of relief over the weekend this. should be an interesting week in russia. >> you can join in the conversation on twitter. you find thruss. those are our handles. 6:42 here in london. >> stay with us. after the break we'll get an update on the markets in did you buy. ♪

>> let's get the latest on the markets from the middle east turning to dubai. good morning. thanks for joining us today. >> good morning. >> let's start with the countries the impact of the lower oil price on their fiscal balances. what sort of figures have you been coming up with as oil as

plunged by 50%? >> we're looking at the fiscal side being the most affected in terms of g.c.c. economies from the weakness in the oil price. growth going to be softer in 2015. but budget deficits the thing on most people's horizon for 2015. deficits which should be able to be managed by governments. governments here have large revenues and large reserves which can be tapped in order to maintain current spending. so i think the deficit, the spending plans that governments have had in place for a while now can continue. but governments will probably have to look at using some of their reserves and going to the markets perhaps issuing debt to try and maintain the spending levels. but at the moment the message from dwovements is that they can

continue to spend -- governments is that they can continue to spend according to their plants. >> if oil stays at these levels or goes any further, does it become an issue? >> i think it depends how long it last and however it falls further. over the medium term the expectation is supply will start to get constricted and that will put upward pressure again on oil prices towards the middle of the year. i think it's early early to say that governments need to be overly concerned just yet. i suspect if we were sitting in the same position in six or nine months, the discussion might be a little bit different but not a whole lot. i sthaupt governments are prepared to play this for the long term and from that perspective we think that there is ample reserves in order to enable them to do that. >> we had a guest on earlier talking about currency markets

and she highlighted one area that she's watching, the g.c.c. pegs to the dollar. these currencies are linked or pegged to the dollar. are those pegs going to come under pressure? our guest suggested they could be. >> the u.s. dollar is very strong and likely to get stronger. our sense is that the pegs have stood the test of time pretty well. and against quite a mom us the background clearly the financial crisis but questions about the pegs in place. but the regions governments felt and policy makers felt that the pegs were the best way to maintain stability and to proceed going forward and they were able to sustain that. i suspect clearly a stronger dollar brings other risks and

possibilities, actually quite usefully. it maintains downward pressure on inflation. inflation in the region has been picking up a little bit towards the end of 20 14. probably that's going to come down a little bit given the global inflation you are seeing. the extent the strong dollar makes a difference it will serve to counter act any inflation air pressures. we would be surprised if there were any changes to pegs in the foreseeable future in the longer term. they've stood the test of time. and i think policy makers would be very cautious about thinking about experimenting with any changes. >> i must ask you about the death of the saud day rabian king. what impact will this have on regional stability and be the saud day rabe i can'ten economy going forward? >> i think the notable event of

the weekend it was smoothness of success and there is other elements that went into the changing government, the the new crowned prince, the new deputy crowned prince. i think that provides some certainty about the future and future succession as well which should foster a sense of stability. the oil prices you know picked up a little bit when the news hit on friday. but i think that was in anticipation there might be a shift in emphasis on the oil price and on the oil policy. that probably isn't going to happen so the oil price ticked back down again. we suspect continue to watch for the time being and remain. so i think big changes aren't going to occur over night. more likely to be a process over time and we'll be maintaining in that way. >> we'll speak to you soon.

>> 6:50 here in london. we'll be looking at our favorite stories from bloomberg digital out put including the 80th birth-day of the beer can. ♪

>> back to our top story now. greece suffered a six-year

recession. some companies are thriving. here is one of them. >> the greek crisis has been tough on us. we had markets that shrunk. we had markets that went extinket. i'm sure that in this crisis again we'll find new opportunities. i am c.e.o. of fresh line a greek cosmetics company and i would like to welcome you to our factory. we make here more than 400 products which are sold all over the world and are 100 natural. we have helped recovery in the greek economy within 2014 especially the second semester. everything is changing and this has been going for the past five years. when the crisis hit greece more than half of our sales were domestic. today 75% of these packages

travel around the world in our 250 stores in places like hong kong moscow, berlin, china. we tried and we maintained all our work force and we had no pay cuts. if you worked really hard and efficient and very deleerly targeted, you can achieve results within the crisis. we have to export more. we can be worried about a lot of things. there is a instability and there is fear of exiting the euro. what concerns me are the people. because these people are being employed by us. so the life of the greek people has deteriorated. we should always see the glass half full. we've been through the worst. and we grew despite everything. >> nice story there. it's 6:55 here in london.

let's have a look at top choices from bloomberg digital. i focus on beer. this is the history of the beer can according to bloomberg website. 80 years over the weekend celebrated its 80th birthday. what amazed me at the end of this long series of pictures of beer cans, there were so many source websites beer can plus.com. beer can collectibles.com. >> i know where i'm heading today. american sniper number one in the box office. the johnny depp movie slumped. made $4 million. his last five films have flopped. is johnny depp over?

>> no. join us for the next hour. we'll have a feast, a greek feast for you. we're live to athens. a bit of a markets roundup. don't go away. ♪

>> the anti-austerity party repairs to take power in greece setting the leader on a collision course with the european union over greek debt. >> and challenging the incoming government to respect greases membership in the eu and the single currency. >> as many greeks celebrate, the euro slides to the lowest level in more than 11 years. a new and troubled meeting when they meet later today. >> ready for takeoff.

aig is said to have made an improved offer for aer lingus. ♪ >> welcome to countdown. i am mark barton. good morning to you. 7:00 this monday morning. the people of greece have voted against the belt-tightening measures that came as part of the package. >> addressing a huge crowd of supporters greece had turned a page, leaving behind five years of destructive austerity humiliation, and pain. >> the figures showed tsipras

one just short of the 100 51 indians to secure an absolute majority and will have to negotiate with smaller parties to form a coalition. >> a historic night for greece. >> it was quite a night. we were outside the headquarters when the prime minister arrived with police outriders, which was not his style. he is a man known to shun the normal trappings of authority. he doesn't even wear a tie. he arrived to cheers. many of them hugely relieved they were able to deliver. we'll travel to the university of athens where he addressed the crowds. he talked about a turning point for greece.

>> the sovereign greek people have given a clear, strong, indisputable mandate. greece has turned the page. greases leaving behind the fear and authoritarianism. it is leaving behind five years of humiliation and pain. >> that was just after 11:00 last night at the time he delivered that speech. he said his party had delivered for the greek people. >> the greek people have spoken. we all respect the decision. i have got my conscience clear.

i received a country on the brink of disaster. i was asked to hold coal on fire and my hands and have done it. many have not been given the chance to make it, but we made it. >> what happens next? >> one of the big questions was whether or not some of the smaller parties would get into parliament. one of those did just that. this is a strongly anti-austerity party. the leader of the party will be meeting in just under an hour and a half time. we will have a meeting with the party a little later. one of the key questions i suspect is everyone wants to know who will be the new finance minister, a man charged with

effectively negotiating with the rest of europe. we will see whether these two men are chosen for the job. the first meeting is 10:30 athens time with the independent greeks. that is the meeting everybody is watching here in athens. back to you. >> the issue is some 240 billion euros worth of debt. that is the issue. the debt, the potential growth is expected to grow by 1.9%. an unemployment rate of 25%. it is the bond market that will probably see the most amount of work done. we expect them to open lower. ubs says we have priced in a negative scenario. we're looking at a slightly lower opening. greece must deliver.

meet the rack station of austerity with -- meet this with structural reform. the greek bonds are the worst performing in six months, down 12%, but they did manage to pull it back. whether the qe is going to save the greek debt market a little later in the year. we also should keep an eye on some of the greek one -- greek debt. all delivering quite an uplift. we understand they went to the central bank for liquidity. the cost for these bank issued debt has spiked by 65%. that is a very personification of what risk the market is going

to demand. if greece stumbles the liquidity for the greek banks would be severed. the european central bank, the ability to fund these banks would be severed. this is what the u.s. futures are doing. let's take you to the eurozone and have a look at our other futures markets. we have paris down. equity markets indicating lower. ftse futures doing something a little bit different. keep an eye on this spread which is the difference between greece and germany. it is expected this will blow up. 240 billion euros worth of debt. deliver or change. >> greece will figure in the

discussions between finance ministers when they meet this week. hans nichols is in berlin. the subject is going to be at the center of things, isn't it? >> it will be an ongoing conversation because we have two positions at loggerheads. you have him saying greases ready to renegotiate. then you had a simple statement from the german finance ministry saying it remains valid. it is -- we had an interview with the public broadcaster. he also laid down some restrictions. here is what he said. i hope the net -- the new government won't call into question what is expected and what has been achieved. i believe it is in the interest of the greek government to do what is necessary to tackle structural problems.

that is the president of the bundesbank giving advice to the new greek government, telling them what they need to do. he is speaking for a large part of germany that opposes a bailout. germans oppose restructuring -- germans that oppose restructuring of greek debt. similar comments have been made by party officials in brussels this morning as well as overnight. the party chairman said he opposed any kind of a lot. we clearly have a showdown. the french finance minister says he is open to restructuring. that is the debate. it starts at 3:30. it's going to be exciting. >> that is the bundesbank view. what about the ecb? >> the ecb executive board

member has weighed in. she says this is a political decision. there is nothing the ecb can do that needs to be done at the political level. it is certain we cannot agree to debt relief involving greek bonds held by the ecb. that is legally possible -- impossible. >> thank you very much. our international correspondent joining us from berlin. we have breaking news on the airline industry. aer lingus saying they are considering a revived -- revised offer from aig. we have not received information the board has approved the latest offer from --iag.

we have had confirmation they have received it. it's a little more than perhaps suggested over the weekend. the offer is 2.55 a share. the board is considering the latest proposal. it does depend on the approval of the ryanair shareholder or the government shareholder. it is interesting to see that the government is seeking commitment from iag. the irish government is concerned not just about connectivity between dublin and the u.k. but also services that serve some of the smaller airports, so perhaps around shannon and cork. >> it is getting those slots at heathrow, which are really bad.

what is he going to do with them? is he going to take the flop and give them to international? >> is it about getting involved in a part of the transatlantic business aer lingus has been trying to build up? you can fly from north america to ireland a little quicker. >> you spoke to michael o'leary, and he has been trying to offload his stake for the last six months. you would assume iag was included. >> he said he offered it to iag but it hasn't sold. i also asked, do you think you're going to get competition approval. they wanted to buy aer lingus. they have been told they couldn't.

he predicts the regular readers -- regulators will treat them in a different way and allow that deal to go through. >> how angry was he? >> he didn't seem that pleased. they did say he has been offering it for a while. >> we will leave it to mark to do the next interview. you said yourself up. what do you think? the cost of getting from london to dublin? >> you flew further up north in dublin. >> i cannot talk about that. i don't mind which airport i fly to. letting the secret out here. coming up a new set of

challenges. how difficult would it be to control the left wing? that is the issue for discussion next.

>> a historic victory means

greases eager for change. the liver and will bring many challenges. how successful will the party be in facing those challenges? we welcome the managing director. thank you for joining us. what coalition do you envision in greece after this election video -- victory? >> it will be easier in terms of the concession they are looking for. they are keen to big government. they look for good ties with the police and the military. i think a deal is more likely at this stage. that will be the most possible outcome. at the end of the day the

independent greeks are conspiracy prone party. it is a bad mix. let's put it that way. >> even though he is on the cusp of this big number it's not going to be a sturdy coalition. how would you best describe the coalition if and when it forms? >> apart from the anti-insperity approach these parties are very divided. one is extreme left. the other is extreme right. they sure know views at all

concerning issues like migration and citizenship. -- share know views at all concerning issues like migration and citizenship. they have shown they are not the most valuable party. things took a turn for the worst. >> how united is the party if they seem to be compromising his principles with the troika when he meets with the troika? could there be a split? >> i think he will enjoy a good honeymoon for the time being. the victory is his story a wide margin. everyone in the party will have to consider that. a lot of people are saying the greek people voted for him. that is something to be aware of. it will depend on what he does next with austerity. is there a reason we see the

departure of some left-wingers? those people will control 35 mps , so they will have the potential to bring down the number as well. >> a columnist said what cyprus needs to deliver promising, i will step down from austerity but i also need major structural reform. those things don't go together. >> i don't think tsipras is going to be shot as. can they deliver reforms? i think they are going to promise a collection of revenues. they will improve -- approve some reform.

there is a huge market to really implement public-sector reform the troika is looking for. >> thank you. we will consider broader implications of what we have seen over the weekend in greece. 21 minutes past 10 in london.

>> welcome back. let's look at the implications of what we have seen in greece. is it about unlikely coalitions? is it about taking on the untested government? what do we learn from what we have seen? >> it will resonate in other countries. the italian prime minister was the first leader yesterday. we will see various political parties jumping the bus. these could become interesting. if for whatever reason tsipras fails to deliver, that could be a significant warning for the voters in spain and portugal. it depends on whether they can

change the overall approach to the crisis. >> when does greece run out of money? when is the coalition going to fall apart? >> greece runs out of money by the end of march. they need around 7 billion. one way to last a bit longer would be if the troika allows greece to issue more big bills. they have already reached 15 billion euros. by the end of march it is essentially over. anytime between the end of march and june is potentially a crunch time for the government. unless they managed to strike a deal with the troika. >> the troika has got to not

blink to keep the status quo in europe. >> i think while the sides are talking and coming up to speed with the government and so on is possible. then the question is what they can put on the table. just the victory yesterday is not enough. we need a policy proposal, and in -- it's unclear what they can offer. we have seen tax revenues going down in december. we have seen the figures. at the end of the day the problem is they are discussing things like the real estate tax. why pay for it? wait and see. the feeling is it will continue. it is not like we have seen in 2012.

i think the first signal coming out of greece is this withdrawal or not. it depends on the message. >> thank you for joining us. we will be back after a short rate. -- break. ♪

>> time to check on the foreign exchange markets. you are seeing a break at the 7000 level. you are seeing the euro really begin to move. europe is one of the biggest markets for the chinese.

you have seen the euro down remnant be -- renminbi rising. three main factors to think about. how strong is the coalition government going to be if it comes to power? is the euro moving into quantitative easing? will it move towards parity or is this a story about dollar strength? you have three major factors. traders are the most bearish against the dollar. 1.10 will come pretty quickly. , david saying the first quarter is when you're going to see parity potentially on the euro

dollar trade. you are seeing copper down, oil down, iron ore down. the reserve bank of australia goes to a meeting next week. a 47% probability and a move lower. look at this. the commodity currency lower. canada cut rates last week. iron ore at a two-month low. volatility on the currency is at the highest level since 2013. 80, goodbye. hello, 75. >> these are the top headlines today. the u.s. president barack obama and prime minister mode he said the countries have received -- have made a breakthrough on nuclear cooperation. scottish national party leader

nicholas sturgeon has said the proposal of new powers for scotland made by the government in london do not offer real home rule. she made the comments in an interview with andrew marr. >> i want fiscal autonomy. i want to be responsible for deciding how the revenues are spent. i think what is important is we are going to be told this the proposals have to live up to it. >> in greece the anti-austerity party has won the general election. the prime minister told supporters greece had turned the page, leaving behind five years of humiliation and pain. syriza has one just short of that needed to get a majority. he will have to enter into negotiations. they will set up a confrontation

between greece and the e.u. over the terms of greece's bailout program. >> 7:33 here in london. live to athens, where guy johnson is there. i historic night for greece. over to you. -- i historic night for greece. >> absolutely. he arrives surrounded by a police escort. huge cheers going up as he arrived and greeted the activists and potential members of parliament from his party. we traveled to the university of athens. he talked about the fact greece reached a turning point. >> the sovereign greek people today have given a clear

strong, indisputable mandate. greece has turned a page. greece is leaving behind austerity and authoritarianism and leaves behind five years of humiliation and pain. >> that was just after 11:00 last night here in athens. that speech at athens university was meant to be delivered around 10:30. i think it ran a little bit later. it was a night of celebration. around 10:15 the outgoing minister told him to concede defeat. he felt clear his party was leaving the party in a better position than he found it in and that he delivered for greece. >> the greek people have spoken. we all respect the decision.

i have got my conscience clear. i received a country on the brink of disaster. i was asked to hold coal on fire in my hands and have done it. many have not given us chances of making it, but we made it. >> in just under an hours time we are going to have a meeting between tsipras and the independent greeks. it will be interesting to see whether these parties can form a government. remembersiriza was just too short -- two short of that needed to form the government. it will be interesting to see who the new finance minister is going to be. let's talk to one of those

business leaders now. you employ around 850 people here in greece. what do you want to hear from this new government? >> i think the new government needs to give an assurance it is a disruption. we are going to start hearing the growth scenario. we need to restart the economy, and we need funds flowing back into the economy. i think this is going to signify a new investment in this country. >> do you feel you will not get that stability?

it wants to change for the troika? >> negotiation is one thing. the direction of where the economy is going and the plan of how to get there is a different thing. i think this is the most important things the new government is going to have to achieve if we want a good next day in greece, if we want to reduce unemployment. >> you talk about the unemployment story. that is priority number one that it wants to improve the story. what can they do to achieve that? what would it take to employ more people? >> the business community is looking for a clear signal it is time to start investing in greece. once the signal is given, new money is going to start flowing in. this is the only way to reduce unemployment in greece. >> could that be a fiscal

measure? if they reduce taxes on unemployment, would that be one thing? >> it would be something that helps. if you don't feel you need to invest, even with zero unemployment you're still not going to invest. >> you talk about the banks. they are concerned that banks are unstable. is that something you are watching? >> they need the ability to start funding the real economy again. for years they have been in an internal discussion. who is managing the banks? we need to get back in normal business whereby the banks are investing in the economy. >> how are you feeling? positive, concern? give me the emotional read? >> i think it is a sunny day. i think it's the right message

for today. >> thanks very much indeed. back to you. >> thanks, guy johnson. join us on twitter. let us know what you are following today. greece is trending on twitter. the last time i checked we had a few tweaks out of greece. -- tweets out of greece. it's amazing. coming up, it is bar chart time. is this greece's key indicator? find out after the break.

>> this is a chart showing how much money essentially is on deposit with banks in the country. between september of 2009 and june of 2012, great depositors got 37% from local banks. most of this money that fled the banking system never actually came back in. the total cash was down to about 150 one billion euros. by the end of november 2014

it's an increased 12 billion euros. that's still below the peak of 238 billion. my colleague wrote this suggests savers are still not convinced their money is safe. a key measure to watch as the greek government tries to come up with some sort of deal for the troika is whether the banking system starts to bleed deposits again. we know since the end of 2014 we have had further data showing the outflow of deposits once again starting to drop in december, following a further 3 billion euros. this continued until january. another worrying signal has been greek lenders have been borrowing from the nation's central bank emergency line.

that is assigned some banks could be struggling to fund their activities amid an outflow -- outflow of deposits. keep an eye on these charts to ascertain what is happening on the ground. is this greece's key indicator of stress? >> let's turn our attention to another developing story. iag could be a step closer to acquiring the irish carrier aer lingus. good to see you this morning. remind us, the details are going to come out this morning. >> we are moving slightly forward. it's not an official offer that has to be made, but it's a proposal of what they might bid. it's a little off from previous

offers. this is 255, which is cash. one of the elements of the statement that is interesting is they made a point they want the government and ryanair to be on board with this. >> there is a variety of reasons why he wants his hand on that landing slot. it is ironic. he broke the irish unions didn't he? >> he did, and he wants to come back to the place he started. you have to wonder whether the people at the company are going to choose between iag or ryanair, which they would prefer. the interesting thing this will

be part of the political debate about what is going to happen. a logical thing would be for iag to keep the slots and the arrangement. they are very lucrative. they can keep that as they -- as it is. the other thing about aer lingus people may or may not think about is using it as a third runway. that has been a lot of discussion. you can pre-clear u.s. customs. i think if iag could take all they would really push that. >> would it allow ryanair and the irish government accept this

offer? >> that's a good question. he seems open. he says we have taken it to iag before. they don't have to sell. they have plenty of cash. it's all about politics. the party has come out and said this is going to be an absolute disaster. it's going to require some massaging. he has headed up aer lingus before. he goes back to ireland fairly regularly. he definitely works on maintaining these questions. if anyone can do it, he may be the man. >> we are going to take a look

at what is driving today's trading. aer lingus up 1%. european equity futures it looks like we're going to have a lower open. greece is at the top of the agenda. ♪

>> welcome back. lets check with michael houston. it is all about greece, isn't

it? i see the greek 10 year yield is up i-43 basis point. we are waiting for the stock market to open. -- up i-43 basis point. what is your reaction to the news overnight? >> it is not really surprising. i think the only unknown is whether or not he would be able to get the necessary number of seats. i don't think he will struggle to get any of the others to actually put his side of the argument that the troika is a thing of the past. the greek people have spoken. i think leaders need to take notice because he had a mandate from the greek people to talk about some form of negotiation or in easing of conditions. it is going to be interesting how politicians deal with it. you can be certain the parties

in france italy, spain, and portugal will be watching events in athens with keen interest. >> if greece were not the word, we would be talking about u.k. gdp data to out this week. what are going to be the highlights in the week ahead for you? >> greece notwithstanding, there has been a lot of speculation the u.s. is going to be hiking rates this year. i have gone on record saying i don't think we will see a rate hike this year. the gdp number for the u.s. is why cling to fall back. i think the oil story is going to -- is likely to fall back. we will be looking to the u.k. gdp numbers to see whether or not the key growth is built on

what we saw last year as well. >> i am looking at some of the calls for miners. copper is down. iron ore is at a two-month low. where are you in this debate? dollar strength or global demand weakness? >> i think it's a combination. there is significant weakness in commodity demand. we have seen it in iron ore. at some point they are going to fall as far as they can. all they will do is cut back on. they might be worth a pound. >> what do you make of carney's comments? he made some interesting comments about interest rate hikes here and in the united states.

i know you said you think possibly next year will be interest rates from here and the u.k.. is it possible the bank could surprise us and hike interest rates next year? >> i would be surprised if they did. i think the inflation target is 2%. i think they are guided by wage growth. it is well below 2%. i think it is difficult for the bank of england to justify any rate rise while inflation is over the 2% level and declining. we may see it start to rise towards the end of this year. i think any talk of rate hikes is likely to be premature. box we will see you soon. -- >> we will see you soon. >> "on the move" is next. we're live in athens.

we're going to cover the impact of the election results. we're going to be speaking with the ceo of one of the largest shipping companies. stay tuned for that. we will see you in the morning. ♪

>> good morning, and welcome to "on the move"." is the greek election dominates the headlines, we will bring you the latest from athens. for now, here is your morning brief. the anti-austerity party takes a victory. the leader says reese is turning a page and putting austerity behind him. will the win put greece on the showdown?

the euro slides and greek on deals jump. the single currency dropped below $1.11 for the first time since 2003. i am looking at futures markets, and it looks like we will get a lower open. that futures up i over 60 points. -- by over 60 points. >> europe had its best week in three years. quantitative easing was the boost they wanted to see. we will see what kind of impact there is. the banks are a critical issue. stocks are down. the yen is higher. 30 year government bond that record yields. bond yields are the lowest since 1989, when we began to gather data. it is a critical issue not just for stocks but also the cost of financing.