between prime minister tsipras and the heads of the ecb, imf, and european commission. matt: boeing has a new ceo. he has some big decisions to make about the aircraft maker's future. a new report predicting the latest "star wars" film will make a billion-dollar profit. good morning, everyone. matt: we are ready to bring you all the breaking headlines on the situation in greece. scarlet: it is like a slow-moving train wreck. matt: finally picking up some steam. take a look at

what is making news on the bloomberg this morning. we begin with greece. it does not appeal a deal is imminent between greece and its creditors. both sides issuing the proposals this morning but a spokesperson says there is still a long way to go. it's another blow to prime minister alexis tsipras as creditors rejected his latest offer to a lot bailout money. guy johnson is on the ground in athens with the reaction. y: train wreck, al qaeda description for what is happening. the best we can probably do is fluid. we have meetings taking place in brussels between mr. tsipras and the creditors, jean-claude juncker, mario draghi, christine lagarde. happy with the proposal greece has put forward. they have made suggestions of their own. it seems the imf has more issues than the others. we are unsure whether it is the imf being concerned there is too much taxation in the new package

or whether there is any issue with the pension reform program. at the moment, we have two competing programs in place. we will see when we come out of the meetings whether any progress has been made, whether we have a narrowing of differences. we thought the packet proposed by the greeks would be hard for mr. tsipras to pass in parliament. if we get any changes, it will make things more difficult. even if we get an agreement today, we still have greek domestic politics and german domestic politics still to do with. we are not there yet. scarlet: guy johnson, thank you. matt: the french are the men in quit spying unfriendly governments. wikileaks says the national security agency has spied on president francois hollande and two of his predecessors, along the cabinet members. u.s. ambassador has been summoned to a meeting at the french foreign ministry today.

a new report confirms the economy shrank in the first three month of the year, just not as much as. we estimated. the commerce department says first-quarter gdp fell .2%. earlier, it had said the economy shrank .7%. consumer spending was stronger than first reported. --santo reported first-quarter earnings that topped estimates. aided by anwas herbicide license payment from scotts miracle grow. they overcame lower grain prices and a stronger dollar with help from payments from scotts in which expanded a licensing deal to sell roundup herbicide to consumers. bernard's second quarter results beat wall street estimates of the housing market continues to rebound. 18%.rders increased shares of lennard are up almost 10% so far this year. up, changing of the

guard at boeing. the incoming ceo dennis muhlenberg will have a lot of decisions to make when he takes over next week. hidden treasures. we look at some of the rare books and documents housed at your local library that you probably know nothing about, if you have even been to your local library. and justice department investigators already went after currency traders, now looking at the treasury market, and whether bond traders engaged in any collusion. scarlet: have you been to the bronx public library? when i was a kid, i used to go almost daily to my local library in ohio. it was kind of a civic center. with the budget cuts, not even open on the weekends. we are a few hours away from a pivotal meeting between alexis tsipras and his creditors. there is no deal for a bailout.

braylon capital has been betting on a relatively happy ending here. ultimately, you believe a deal would be made. will there be a deal made by next week, two weeks from now? >> the timing of the deal is more difficult to predict that the outcome. it is likely that between this week and next week you will get some resolution because of the bank situation, the withdrawal of deposits was an issue. it is probably the way the ecb wanted greece to get serious about finally reaching a deal. matt: have they had to raise the yield a again -- ela again? they have to give more tax to greek banks because people are taking it out as quickly as they can. >> it is irrational behavior even though most greeks want to toy in the euro, they want

be saved, and that is why they are taking money out of the banks. scarlet: mario draghi said to christine lagarde that the eu is a junior partner in this game. what does the signal to you as an investor? think a lot of the arguments here are effectively between the imf and eu and trying to figure out who bears the brunt of the ongoing support to greece. imfou recall, in 2012, the was asked to extend a large amount of money, larger than what they usually do. now the imf is trying to draw the line and say, look, we have been supporting. now it is the time for the eu to take it on. matt: in that vein, christine lagarde said that there would be no great period for greece. the payment on june 30 has to be made or they would consider it a default. room -- any with the wiggle room? >> when you look at the regulations of the imf -- i

don't consider myself an expert on that. but it takes a matter of time before they officially declare a default. there is wiggle room. scarlet: you believe greece will get through this relatively unscathed. matt: how are you sleeping? [laughter] scarlet: is it too late to get involved in greece if you have not already? >> prices are still depressed. when you look at the bond curve, it is inverted. even if greece leaves the euro, a default on private debt is -- publicly held debt is unlikely. the short end of greece is yielding at 20%. not many assets using 20% in bonds. not that greece is not a tough situation, but even if it values, theuro, d

ability to service private debt will be there. cheapestright now the time to get in, would you double down on your bet? the people that already wanted to have already placed their bets. last week, it was 10 points lower. some people got in last week. standpoint, if you believe in a positive outcome, the banks are still 60% lower than they were last year, so that has a huge upside to the deal happens. scarlet: you went to school in argentina and went there -- stayed there for years. talk about the lessons learned in the argentinian depression. situation where you have currency controls and bank holidays. wassituation in argentina

different because they have to start the adjustment when that happens. greece has been adjusting its economy since 2012. from a practical standpoint, i think greece may be further argentina,ine and and the impact on the economy post a potential grexit would be likely. matt: on the political side, job, dopras keep his they keep the majority? >> when we make decisions, we have to make those calculations. most greeks want to stay in the eu. part of the argument is going to be where he gets the votes to pass this. you would assume there should be support, but maybe he needs to get the votes from the opposition. that may create a problem because they want try to take advantage of this. is, if he wants to stay

in power, he needs to have an agreement. greylockdiego ferro, code chief investment officer. thank you. matt: coming up on the bloomberg market day. the first big decisions facing the new ceo of boeing. he has a big job in the biggest playmaker. scarlet: a long to do list. ♪

scarlet: good morning, welcome back to the bloomberg market day. i'm scarlet fu. matt: i'm matt miller. that's go to julie hyman who has a look at some of the biggest

moves. what are we seeing? lennar.ou mentioned is beating estimates. one of the best performers in the s&p 500 today. not only did profit beat estimates that some of the other measures are important. new orders of 18% in the last quarter, the value of orders of prices increased. revenue up 32% overall. gross margin expanded as well. shares up 4%. we are seeing other homebuilders follow suit. holmes, d.r. horton, kb home's. homebuilders are hoping to lead gains as well. take a look at the homebuilder etf. it is trading at an eight-year high. this is the fifth straight session we have seen an increase, so really the

homebuilders have been gaining. if you take a look at my bloomberg terminal, we got the numbers for new home sales. you are looking at a five-year chart of new home sales. they rose to a seven-year high on an annual pace. historically, if you met sound the chart, we are still seeing where we were -- below where we were in 2006, but still significant recovery. also take a look at what is happening with mortgage rates. this is the past year for the 30-year mortgage rate. seeing it go above 4%. that is notable because the conventional wisdom is that as you see rates go higher, as you see the expectations on the part of homebuyers go higher, sometimes you can get a surge there as people want to lock in those low rates. matt: thank you, julie hyman. now we will look at our top stories.

a new twist in the search for the prison escapees in new york state. authorities say the prison employee charged with helping them smuggled tools to the prisoners in frozen hamburger meat. the clinton county da said joyce mitchell put hacksaw blades and screwdrivers in meat and put it in the refrigerator at the taylor where she worked. scarlet: why does the tailor shop have a refrigerator? matt: that is a good question. anyway, they are still at large. the senate is prepared to give president obama a big victory on trade. the president is expected to win fast-track authority to negotiate that trade deal. a procedural vote passed yesterday. only a simple majority needed for final passage. the vote is expected at 5:30 p.m. eastern. we will bring you the headlines on that note -- vote.

president obama changing a long-standing policy to americans held hostage overseas. it will clear the way for families to pay hostages to terrorists without running the risk of prosecution. that policy has been criticized by families of those who have been killed in captivity. the u.s. government has a policy of not negotiating with terrorists for obvious reasons, because if you do, then they will continue to ask for money. those are your top stories on this wednesday morning. scarlet: last month, the doj secured guilty pleas and more than $5 billion in fines from five major banks for rate rating. now they have set their sights on the $13 trillion treasury market. keri geiger has been following the investigation into banks and financial markets. she spoke with the surveillance team this morning. as you said before, with libor and ethics, those cases were

about conduct issues. people talking either internally or with other people at other banks, their peers, about order information. those are largely unregulated industries, fx, libor, and treasuries. now you are seeing conduct in these areas being a low hanging fruit for the department of justice. the distinction is contained auction process. they get a look at the bids and desires of their customers. reportingying in your , that they are talking to each other 20 minutes and one hour before? >> possibly. we are getting indications that there is conversations in chat rooms prior to the primary treasury options -- auctions. as you know, that is one of the largest financial sales daily, yearly, monthly. it's a big deal. tom: this is a redux back to

1931 with the brothers. >> that is when they instituted the dutch auctions to presumably fix this. walk us through what is happening here and what we know happen with libor and fx. those were called markets, comparatively easy to rig. what is the mechanism we think happened here? >> it is less about the difference and more about the similarities between his issues. you have people compare notes before sales. before aligning orders, figuring out notes, demand, and they are talking about this in chat rooms. >> between primary dealers or within? >> probably both. the issue there is, the department of justice has viewed that type of activity previously ubh fx -- four banks plus pleaded guilty for just a month ago -- and with libor, a couple of banks have pleaded guilty.

we have more fines coming up for that. that type of activity could be considered cartel-like behavior. we are not saying that the banks are doing this to the treasury market, but it is very similar conduct. >> does it involve all the primary dealers, have any of them responded so far? >> we did speak to the primary dealers and we had no comment from them. one of the issues, some of the banks have strict rules around us. ubs, we reported, has strict rules in this. they were part of the libor and fx investigation. tom: am i naive to think that the previous fines were because of 24 euros saying stupid things in e-mails? >> that would be a small sliver of the larger picture, but the problem is, the justice department does not like when you type about orders before

they are placed because it opens the door to collusion here that is when you bring the sherman act. >> this is not a standard regulatory regime they are using to prosecute this. in the past we have talked about sec enforcement. when you lay out in your article, this is antitrust behavior. >> and that goes back to what i said earlier, it is about conduct, and the conversations. and that is what could be considered cartel or antitrust-like behavior. ,ome are criticizing this saying it is low hanging fruit for the department of justice to come after different trading desks on this. others would say the banks should know better. on thetill ahead bloomberg market day. libraries house a lot more than books. a look at the secret treasures hiding in some of our nation's biggest libraries. ♪

rare prints were reported missing from the boston public library this year including a 16 century engraving worth more than $6,500. they turned up a couple months later, just misfiled, but not before the head of the museum resigned. scarlet: there must be other treasures housed in libraries across the country, a lot of which never see the light of day. the harvard library keeps one of its ground jewels on permanent display. it is gutenberg bible from the 15th century, worth several million dollars. tons of other treasures are hidden away. as they are in libraries across the country. who knew the university of illinois has lewis carroll's chess set?

o'er the university of texas has the world's first photo, as it is. >> it can be an intimidating place to walk into for the first time. people may not know what we have or that they are welcome to come in. i want to broadcast a welcome message anyway i can. has an all access pass to the rare books library. he has pulled half dudgeon objects together worth millions. scientific instruments from the renaissance. >> this is gorgeous. 1542,ook was published in and it is full of these pictures. >> there is the first washington tell-off. >> this is one of my favorite things, a book that belong to george washington. not only that, it is full of his notes, in his own handwriting. as we learned recently, when

two valuable objects went missing from the boston public library, libraries also have rare art, like this drawing. >> this is one of the original drawings made by john james audubon forth the birth of america, the birth of kingfisher. a comparable peas sold for more than $100,000 at auction. what are interested in makes a book or manuscript invaluable. if we acquire this book, who can use it, what kind of learning could come from it? the harvard library system expect to spend $123 million this year on everything from acquisitions, to keeping its collections safe. there is a tension between access and security. treasures, but we have them so people can use them. if somebody came in and put a new request for trial dickens

walking stick, we would get it. >> and sure enough, i did. how about that? scarlet: and it is not just libraries. e-zines have a lot more things in storage they can put on display. own 2 millioney objects but can only display tens of thousands at a time. the national palace museum in taipei, when the nationalists fled china, they took all of these pieces of art with them. they can only show 1% of the collection. there is a lot more. matt: i could have watched that the rest of the morning. we should make it a longer piece. scarlet: back with the bloomberg market day after this. ♪

scarlet: welcome back to the bloomberg market day. theng a quick look at equity markets, the s&p and

nasdaq have clawed their way back to little changed. the s&p unchanged at 2124. dow industrials parent its losses as well. gdpot economic data showing in the first quarter shrunk less than first estimated. toonly shrink .2% compared the previous estimate of .7%. breaking news in the oil markets, weekly inventory numbers are out. a big drop in inventory numbers. the biggest i can remember in some time. a drawdown of 4.90 3 million barrels, more than double what analysts had and -- anticipated. distal it inventories up 1.4 million barrels. gasoline 680,000 barrels. interesting numbers coming out. looking at oil behind me, it looks like we are seeing, despite that larger than expected drawdown, that prices are falling. we will see how it shakes out.

we will take another check in about 10 minutes time and perhaps get some analysis from the folks at bloomberg intelligence. the headline number, draw down .f 4.90 3 million barrels brent tracking similar moves as wti. let's get straight to the morning's top headlines. we begin with the biggest deal in the grocery business in a decade. buyurope, royal will delhayes. a new report says cisco will drop its planned merger with u.s. foods. a federal court yesterday ordered a halt to the proposal. the judge agreed with regulators who said it would hurt consumers. sysco says they are likely to walk away from the deal.

starting next week, there will be a new ceo at the world's biggest airplane maker. dennis muilenburg has been named to replace james mcinerney. mcinerney will remain on as chairman and will retire next year. they have really changed how they think about developing products in a way that lowers risk. longer-termroves a market potential of the company. for dennis, the real benchmark will be how high can boeing profits go, given the decisions they have made over the course of the last decade, and can they implement the lessons learned from the 787 that makes the company more profitable? mcinerney was in charge for the troubled release of the 787 dreamliner. the company has also has to deal with a pullback in u.s. defense spending. the cloud computing storage company box once ibm as a rival but now they are teaming up with

big blue to go after corporate customers. box client will not be able to store content in the ibm cloud. ibm has also established partnerships with twitter. we will be speaking to the ceo of box later on today. coming up on the bloomberg market day. the next "star wars" movie will be an out of this world blockbuster. has crunched the numbers and says it could be the third biggest movie of all time. disney could walk away with a $1 billion profit. and we will critique alexis gotiating style. those stories and more coming up on the bloomberg market day. to give finalised approval to a bill that gives president obama more authority to negotiate the asian trade deal. the vote is expected to take place at 5:30 p.m. eastern time.

phil mattingly is with us in washington. this bill was thought to be dead a week ago and then it got resuscitated because of republican support. i was saying earlier on, this is bizarro world. depending on what headlines you are reading 10 days ago, the obama administration was effectively over, lame-duck status had taken hold in the white house, the president's legacy was going to be ruined by those in his own party. one thing to keep in mind, and white house officials made this clear. when the house democrats revolted on this bill initially, when your allies on a particular issue control both chambers of congress and the white house, there is a good chance they will find some type of procedural mechanism to move a piece of legislation forward. that is what happened here. the president worked with senate majority leader mitch mcconnell and john boehner and figured out some procedural machinations to move the process through. tonight the vote will move to the president desk.

a couple of smaller pieces of will moven that forward index couple of days to make this a total package. but as you said, this was left for dead a few days ago. they were wrong. course, to the chagrin of house democrats who revolted against the president. is this something that they will be punished for by the white house? phil: what is interesting about what happened 10 days ago, nancy pelosi has been one of the president all six years that he has been office -- in office. from the affordable care act to dodd-frank. all of these things nancy pelosi led the way. what you saw attend his ago was house democrats who were tired of being ignored. they think the white house does not pay them attention and takes their votes for granted and were willing to revolt. what is more interesting about whether the white house will punish them, it is whether they understand that they really need

them to move initiatives forward for the next 18 months. what you will see as opposed to punishment, is some more care and feeding behind the scenes. one thing they have been not doing.for they recognize there is a problem and needs to be addressed. scarlet: so there will be some more personal lobbying by the president, maybe just more than showing up at the congressional baseball game. will congress passed the trade assistance program? that was something the democrats wanted but were willing to forgo in order to get rid of fast-track authority. a $400 million program to aid workers put out of work by trade. what we are seeing right now, the senate is moving this forward along with the package. republicans who generally oppose the bill were willing to allow this bill to move forward in order to move the fast track on its own. what we are winning to see right now is whether house democrats will once again sink this and test the president, see if this

will force him to veto the fast-track authority. that is a bad move on their part, if you speak to administration officials and republicans on the hill. the president has no plan to veto this bill. only game in town is to vote for the bill. scarlet: these are all of steps that lead up to the actual trade that the asian trade deal the president is so gung ho on. do we presume that is a done deal? a done deal, but according to the administration, this was a crucial point to making it happen. the most intense negotiations remain between the u.s. and japan on the key component of the deal, between agriculture and autos. japanese officials made clear they had no trust in congress and would not move forward with the u.s. trade representative until the new tpa was in place. this should streamline the process. that said, these are difficult

issues to hammer out. everyone acknowledges that. it is not a done deal, but it also needs to come back to congress. the path forward when it comes back to congress as a final deal is streamlined from what the president get tonight, but it still needs to happen. but a key step forward will be taken tonight with the passage of this bill. scarlet: it seems japanese officials assessed congress perhaps more accurately than the white house did. thank you, phil mattingly. still ahead on the bloomberg market day. estimates the next "star wars" film could make disney $1 billion minimum. ♪

scarlet: welcome back.

we are one hour into the u.s. trading day, so we want to get you caught up on all the action let's start out in europe. good afternoon from the u.k. andre back to reality european stocks trading lower, germany off by .5%. france basically trading flat. we were trading higher earlier but as we say, we are back to reality. it looks like that optimism is filtering out of the market everyone we will get a deal on greece. alexis tsipras saying it seems the latest terms he is rejecting from creditors to get some sort of deal. european finance ministers meeting for the third time in a week. euro tradinge flat, coming off of its highs. a little concerned as to whether this optimism is filtering at the markets. the euro was down significantly yesterday, so it is just making

up some of its losses from the dollar yesterday. in the meantime, clear flight to safety. money going into germany in terms of borrowing coming down. out of italy on the two-year. certainly, out of greece. 22% is the theoretical borrowing cost for the greek debt now. a quick look at some stocks. m&a on and off the agenda. these are french telecom companies. delhaize, the owner of food lion, they could be emerging with a rival. but it seems shareholders do not really like it here not enough premium.

er getting closer to a deal. that is pleasing stockholders today. julie: taking a look in the u.s., we have a bit of a pullback in the u.s.. nonetheless, investors are having trouble justifying perhaps the record in the major averages given there are some major headwinds. very little change, the nasdaq up slightly. the dow and s&p pulling back slightly. we have really come up against the record for the s&p 500. there is a one-year chart. the green is the record that we .ere at in may we are coming back toward that level but it looks like we cannot quite get there. so we are seeing that sideways trade. take a look at what is happening with treasuries.

not an enormous amount of movement. none right now despite a move upwards in yields. 2.41% on the 10-year. scarlet: we have some headlines crossing that carl icahn is exiting his stake in netflix. of course, netflix announcing a stock split yesterday. if you look at how their shares are reacting in the intraday trade, you can see the big letdown following the announcement. still up on the day by 1.6% following that stock split, but definitely lower after the headline that carl icahn is exiting his stake in the company. icahn if i remember, wanted to get out earlier. his son convinced him to stay. i believe this is the investment where he had in this -- convinced them to stay in. he said, ok, you are right. trading at a record as they

seven-for-one split. scarlet: i have listened to you long enough and now i will do what i want. he has another comment where he says apple is representing the same opportunity as netflix years ago. julie: fascinating given the relative size and maturity of those companies. scarlet: and the amount of money that each makes. apple is a cash generator while netflix has $10 million in production expenses over the next couple of years. something to keep an eye on. right now, netflix shares trading at a record high although paring its advance on the headlines that carl icahn will exit his state. the force will be with disney this year. morgan stanley predicting the newest "star wars" film will be the third highest grossing movie of all time and will generate $1 billion for the disney bottom line.

the managing director at morgan stanley wrote the report and is with us now from their offices in new york. you say this would be the third highest grossing movie of all time but not enough to topple james cameron. our report next three main points. we are quite bullish on "star wars," and why would you be? there is incredible anticipation and then you have disney's marketing power behind it. the second is putting the movie in context. as big as $1 billion is over the 10 years of the film, we are talking about only a 6% contribution to their net income and earnings per share. and over half of disney's earnings come from their media abc,rks, mainly espn and where we are much more cautious from a sector perspective. you are buying disney stock at a 25% premium to the p group. as bullish as we are on "star wars," we think that is

relatively priced into expectations. scarlet: given all of that, what is the biggest risk to "star wars" not performing and disappointing investors? the movieu looked at profitability, we think it will type or the second-highest growth in domestic box office film. "titanic" and "avatar" has number one and number two. international is interesting. a major increase in international box office results for big tentpole films. we raised our expectation for international growth in this note. the last piece is merchandise. we think the film will lift global sales $5 billion for lucasfilms properties, which generates a nice licensing stream for disney. all about looks pretty well priced into the multiple and

expectations. certainly, people seeing out to what that brings. when you talk about merchandising revenue, certainly big internationally. how does that compare to "frozen," which is disney has been able to do well, without any licensing? coulde think "star wars" be one of the number one global merchandise brands, certainly after the film. currently, with no movie out in the market, it's doing summer between $2.5 billion and $3 billion global gross retail. already a powerhouse. we think the movie will drive incremental revenue once it comes out later this year in december. scarlet: to put this in perspective, disney but lucasfilms in 2012 for just over $4 billion. what is the math on how much this one will cost to produce, and when does the purchase pay for itself? ben: you could also throw in

marvel, and then going back to pixar, between $6 million and $7 billion. these films on their own generate reasonable returns, but it is hard not to think about all of the derivative income they are generating at the marks and other parts of their properties. to answer your question, we think "star wars" to make and market is somewhere between four hundred million dollars and $500 million. scarlet: how does that compare to other big blockbuster franchises? ben: there are probably few films i will ever cost more than that. if we ever get another "avatar," we could see the number go higher. the so-called king of the world. given all the costs on disney, does disney need to use is cash flow for acquisitions rather than share buybacks? i believe it has spent $32 billion in stock buybacks since 2007. pared back that

activity lately. compared to the group as a percent of market cap, they are buying back less stock and other media companies. they have done a good job balancing their capital allocation between dividends, which they raised recently, buybacks and acquisitions. it's a tough challenge in the media business. what do you buy? when you look at television ratings, cord cutting. there is no easy solution to buy your way out of that. owning powerful brands is key. disney is there. kind of hard to find that out there from an acquisition perspective. to go back tot the espn and what you said about how that is really the bulk of disney's his nose. subscriberout erosion in your note. it sounds like a pretty mature business in need of a catalyst. espn, obviously, incredible profit engine for disney.

incredibly important network for distributors in the pay-tv space. but not everybody watches sports. as we think about the future of the pay-tv bundle, we think we will see these skinnier bundles options,ess network more options for consumers, and i think you will see pressure on subscribers. for espn, their sports liabilities are fixed. noy own the league's money matter how many cistercians they have. that will be important to track. how the subscriber numbers in the bundle involves against the fixed cost space. scarlet: fascinating stuff. thank you. still ahead on the bloomberg market day, greece is in trouble, but the island of mika knows is booming. ♪

scarlet: welcome back to the .loomberg market day i'm scarlet fu. grace's unemployment rate is at 25% and the government is running out of cash. but southeast of athens, the party town of mykonos is booming. you $6,000 to see there for one week in the summer. pimm fox, you have been there before. a long time ago before the greek debt crisis and the euro. what is happening in mykonos should be a reminder that there is still economic activity going on, still a destination spot for tourists. while they are pouring their free-flowing champagne, it is also relevant to note that they all pay taxes, so you would want more of this activity.

when you look at the tourism business in greece, it is up somewhere from 25% to 30% depending on the location and market. scarlet: taurus from europe, within, outside? pimm: both. many from germany go to greece, some even have second homes in greece. tourism from the united states has been increasing because of the strength of the u.s. dollar prompting people to take a second look going abroad. scarlet: mykonos is not in any austerity mode. the bar manager at the most exclusive beach resort there says he saw 302 -- sells 300 to 400 bottles of champagne every night and it is shipped out to the yachts in the harbor. and the greeks are coming over as well. they want to enjoy their holidays. mykonos and many of the islands in greece have been known for many years as a tourist

destination. they have some of the most beautiful beaches, beautiful towns. indeed, this is a way that the greek economy can try to rebuild itself. tourism, of course, a major earner of non-euro currency as well as euro currency. they may need a couple of more mykonos types of places. scarlet: athens? pimm: they fly in, and then they go to the islands. it would be a little depressing to visit athens these days. pimm: we will see if they get a vote on any parliament deal. scarlet: to be continued. ♪ ♪

(ee-e-e-oh-mum-oh-weh) (hush my darling...) (don't fear my darling...) (the lion sleeps tonight.) (hush my darling...) man snoring (don't fear my darling...)

(the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. scarlet: it is 11:00 in new york. pimm: welcome to "bloomberg market day." intractable force meets

immovable object. well theth the demand greek prime minister says the art of command or the art of chaos. scarlet: the real threat to twitter's future. pimm: the connection between fracking and earthquakes. offers details, details that you only see here on bloomberg. scarlet: good morning. i'm scarlet fu. i almost couldn't say that right. what is wrong with me? pimm: i'm pimm fox. let us begin with a look at the markets and see how stocks affected dow jones industrial average