prime minister alexis tsipras remains firm on a referendum. my cow is doing even worse. revenue at the gaming hobbies the lowest in four years. mark: mtv, is it a thing of the past? mom" aren'tteen bringing in the ratings it used to and it is bringing life crisis for the parent company, -- bringing a midlife crisis for the parent company, viacom. good afternoon from bloomberg world that quarters in new york. i am mark crumpton, here with scarlet fu. scarlet: u.s. stocks falling, europe higher. a little bit of a like down in the last couple minutes here. financials are leading the advance. isyou look at the dollar, it

gaining after the iso manufacturing survey rose unexpectedly, although goldman sachs putting out a note saying that the euro sweep earlier this week made absolutely no sense. it is looking for the euro to reach $.95. below parity versus the dollar. higher yields, lower prices. you have some relief that greece --ears willing to compromise at least at latest rhetoric out of a lexus citrus seems to be a willingness -- out of alexis tsipras seems to be a willingness to meet creditors halfway. mark: speaking of greece, the prime minister, as scarlet just mentioned, alexis tsipras, he took to national television to ask voters to reject the austerity measures in the sunday referendum. he hopes that the no vote will end a creditor standoff with germany. it comes hours after making a renewed bid for aid as his nation sinks deeper into

financial misery. ipras: great women and men, we are at a critical point in our country's future. sunday's referendum is not about whether the country will were met -- will remain in the euro zone or not. that is a given and no one can doubt that. on sunday we choose whether we will accept a specific agreement or seek a more viable solution with the public's approval. in any case, i want to reassure the greek people that the government's unwavering intention is to reach an agreement with its creditors, but with terms that are viable and have potential. mark: meanwhile, german chancellor angela merkel and finance minister wolfgang schaeuble say they won't be any talks on a new bailout until after the referendum on sunday. scarlet: and it is now official, the u.s. and cuba have agreed to open embassies in each other's capital. it is a major step in restoring relations after more than five decades of hostilities. in the past half year, the u.s. has removed cuba from state sponsors of terrorism and made

it easier for americans to travel to the communist country. president obama made it the announcement at the white house. president obama: this is not merely symbolic. with this change we will be able to substantially increase contacts with her the cuban people, our diplomats will have the ability to engage more broadly across the island. that will include the cuban government, civil society, and ordinary cubans who are reaching for a better life. scarlet: the embassies are expected to open on july 20. secretary of state john kerry will go to havana to raise the embassy's flag. mark: the heads of the u.n. atomic energy agency will head to tehran tomorrow. ,ussia's foreign minister sergio lavrov, met yesterday with secretary of state john kerry and says talks are on track it world powers led by the u.s. say they will the sanctions if iran promises not to build atomic weapons.

those are your top stories this hour. scarlet: we have breaking news on greece. the dutch finance minister says cc no further ground on talks with greece. in athenszker is live with more. give us context on these remarks. erik: this pretty much puts a nail in the coffin of any love that there are point of the talks, scarlet, between now and the referendum that alexis tsipras, the prime minister here in greece, has scheduled for sunday. as you have alluded to, there was hoping earlier today because tsipras sent this counter offer to the ecb and the european commission and maybe the talks would have been fairly clear over the course of the afternoon when we heard from officials in germany that that was not going to be the case. but the eurogroup finance ministers met earlier today and they told us they would have a statement. this is the substance of the statement, that there are no grounds for further talks, that

the bailout package that previously was in place ended officially last night, and there will be no new talks between now and the conclusion of the referendum on sunday. , that referendum on sunday -- we are getting a sense from the german chancellor angela merkel once again firm in her remarks that nothing is going to be considered until after the greeks go to the polls . do you get a sense that this is some thing that was anticipated, or did the greeks believe that negotiations would continue even as the referendum approaches? , i think it is fair to say, mark, the nobody expected the negotiations would continue. what is it that the greek people are voting on on sunday? the maltese finance minister, perhaps not the most powerful of leaders in europe, was out earlier today pointing out that the offer that the european creditors put on the table this weekend is no longer even valid.

somewhat bailout proposal is it that the greeks are deciding on a sunday? question. open furthermore, do they know or do they believe whether they are voting on or not for euro membership? the yes campaign, the one that wants them to vote in favor of a bailout, is trying to frame this in terms of euro membership. if you go to the poll and vote yes, you are voting yes for the euro. if you go to the poll and vote no, you are voting for a grexit. that isn't what the question is going to say but it is probably fair to point out that right now, that is what is going on in the minds of the greek people. scarlet: absolutely. erik, as you know, the greek stock market is not trading right now. european stocks have stabilized after earlier losses. spanish and italian 10-year bond yields are below 2.5%. what happens between now and sunday? does a less panicky market

backup help or hurt tsipras' cause? erik: i don't think it makes any difference whatsoever. the banks are closed, the markets are closed here. there was clearly some european action. over theadr an etf's past couple of days -- the only thing i would point to probably is the euro for sure, maybe some peripheral drawn spreads -- peripheral bond spreads. it is fair to say that what happens in international financial markets is not going to weigh on the minds of greeks too heavily. greeks are fairly aware of what goes on in international markets because that influences the relationship between the country and its creditors, but that is not going to -- i can't say anything definitively, clearly -- i am not greek and i am going to the polls. but it is unlikely it will affect a large percentage of the population. mark: have you had any fallout from those comments you did with the interview with the mayor of

athens who said that if greece to go to the polls vote yes, the prime minister should resign? ministerl, the prime himself said he would resign and set on greek state television monday night, so it is not all that surprising that you would hear the mayor of athens, who is za, sayernment, anti-syri that it remains to be seen whether he does live up to that promise. if in fact there is a yes vote, which is to say substantially more than 50% of the people who actually cast ballots vote in favor of another bailout package , will he resigned? i don't know. this is a government that has said one thing and done another so many times, it is difficult to believe what the prime minister says. scarlet: what part of tsipras changed in thec has

past 24 hours? erik: if anything, it has hardened. the prime minister delivered a taped address in which he promised -- first of all, he told voters they're not voting on euro membership, and technically speaking, they are not. he told them he would be able to safeguard their pensions and bank deposits. how is unclear, because greece is broke. the banking system is technically insolvent. he has no access to european credit and no axes to european equity assistance. yet he continues to take his hard-line that greece will not submit to the demands of the eurozone, and while there is a counteroffer offer he put on the table, it is one that the europeans are unlikely to accept even if they were to sit down, even if they were to be+++

to sit down and reenter negotiations right now. they have said repeatedly that there was an opportunity to renegotiate, that opportunity ended last night with the conclusion of the previous bailout agreement. we are stuck at the moment. both sides have hardened their positions and we are heading towards a referendum on sunday and it is a matter of the yes campaign and the no campaign mobilizing to try and get the greek people on either side. scarlet: lobbying for the hearts and minds of greek voters. erik schatzker, thank you so much, joining us from athens, doing a bang up job in greece. mark: outstanding. investors steve case and mark cuban turned their eyes to disrupting health care. we introduce you to one company their placing big bets on.

mark: welcome back to the bloomberg market day. i am a mark crumpton, here with scarlet fu. scarlet: let's look at the

markets now. if you look at the s&p 500, financials are the best performers. >> exactly right. ace has agreed to by chubb corp. by .5%.is up hubb a swollen 70% -- chubb is one to look at. each shares valued at $124. trading at about 120. other insurers are rising on this news. hartford financial services seeing its highest since september 2008. hartford is up by 5.5%. cincinnati financial is up by 3.8%. but there is a caveat. the city research note says that ce-chu acquisition would

not be good for the sector. m&ahen analyst says that is a distraction before markets had in a darker direction. the u.s. gaming stocks are on the move thanks to what is happening in macau. the world's largest gaming city. wynn is highest at 5.2% there. china is using restrictions on local mainland tourists visiting macau. normally it was five days. now they can stay seven days. they want people to spend more money and the reason in the bloomberg terminal right here -- take a look right here. basically what you can see is revenue at a 4.5-year low. last time were, saw that was around the end of -- august, late 2011. scarlet: we will be talking

about the top casinos in just a little bit. mark: let's look at the top stories we are following. a drug scandal has profit of top female executive to quit at toyota. she was chief communications officer. she was toyota's first foreign executive to move to japan. she was arrested two weeks ago. police say a package addressed to her and a labeled " necklaces" actually contained oxycodone. crack shareholders have approved of the company's merger with h.j. heinz. the deal creates the third-largest food and beverage company in north america. the deal was put together by warren buffett's berkshire hathaway and brazil's 3g capital. donna karan is stepping down as chief designer of the company that bears her name. she will stay in an advisory role. she says she will ship her focus to a company that sells apparel, jewelry, home decor, and beauty products.

those are your top stories at this hour. the digital health care space is in an influx of funding, and last week's supreme court decision to uphold the portable care act could fuel even more investment dollars. scarlet: one company that stands to benefit is start up health, and he conveyed or has the backing of several major investors, including steve case and mark cuban. the cofounder and ceo joins us with more. good to see you. stephen: thanks for having them. scarlet: 2014 was a break out year for digital funding in health. tell us what is different this year, especially when it comes to the sectors within health care getting the most investor interest. >> i think momentum is building. when you look at all the industries transformed by the internet, health care one of the ones that had not been. over the last several years, billions of dollars from foundations as well as angel investors have flowed into the

market, and i provided a lot of the moment in that entrepreneurs need to realize a whole host of solutions. mark: speaking of momentum, this list of folks who were helping you out that scarlet mentioned, what was the selling point? how did you get them to say i think that is something we could do business with? steven: my partner and i have been partners for a most 20 years and we have developed a lot of relationships we knew we needed industry transformers. mark: but there are relationships and then there are these three gentlemen on the screen. of themeach one obviously transformed industries and they are all passionate about health care and entrepreneurship. it is that that is connected to our mission to build companies over the next decade to rebuild the industry, and these three backers have so much excitement that it was easy to convince them. scarlet: let's talk about obamacare. in what ways does it add now that we have a final answer from the supreme court -- does it add urgency to digitize health care?

steven: the momentum has been building. when you go back to 2011 when we launch, they made the announcement from the oval office that president obama and vice president biden, it allowed us to see that business models were going to be shaken up and everyone would look at this industry in a different way. last year's supreme court support as well as this year's allows every -- all the friction to get removed from a lot of the naysayers. i think it puts for us a lot of more emphasis on letting the oxford or spend the next 5, 10, 15 years reimagining every aspect of health care. mark: how does what you do help patients have more of a role in their health care instead of just leaving it in the hands of doctors and medical professionals? what is there saying now?-- thei r say now? steven: a lot of our tools are designed to help patients directly. last week we made announcement that aurora health care made announcement around developing

and bridging the gap between entrepreneurs and the health-care system. it is ceos like the ceo of aurora health care who made the commitment to get behind a lot of the external innovation that is out there. when you look at health care, what is really needed is a collaboration between organizations like or and the entrepreneurs who are doing the reimagining could most don't care about the big bureaucratic organizations. i think health care is a different ballgame so a lot more collaboration is needed, and that is why start of health as a health innovation company is here to change that. scarlet: with jules comes data, although some people argue there is too much of it. mohamed el-erian, a bloomberg view contributor, discovered in "i have no idea how to internalize these data points. most objectives are highly correlated but frustratingly, are not sufficiently linear." there is a temptation to measure everything because you can.

how do you make sure the data does not get in a way of determining cause-and-effect? steven: we have 103 entrepreneurs startups building companies to start that problem. a lot of what our thesis is is that nobody knows what is going to work and what isn't going to work, but we know that entrepreneurs for centuries have led the charge, and the idea of taking the problem that was explained just now by someone and bloomberg emphasizes the need for entrepreneurs to really create solutions so that there is not a gap between these devices and really turning them into actionable insight. mark: you have to, i could talk about this for an hour. steven: me, too. mark: sir, thank you so much. steven: thank you very much. scarlet: coming up on the bloomberg market day, think the greek economy is in bad shape? macau is even worse. ♪

scarlet: we have some breaking news could we had over two ramy inocencio at the breaking news desperate ramy: the associated press --at the breaking news desk. ramy: the associated press reports that terrorists were colluding to prop up fares. the day it was higher by about 1.7%. we see this happening in the past half hour or so. this is the biggest intraday drop since june 9. looking at the bloomberg terminal, jetblue airways, skywest, delta airlines, hawaiian holdings, as well as united continental are the top five biggest laggards right now. united continental down by about 3.75%. we will have the latest on this as things develop over the course of the afternoon. scarlet: speaking of antitrust -- mark: more breaking news, the

u.s. filing an antitrust lawsuit against ge and electrolux, filing that in washington. this is a story that has some tentacles here, because the ge -electrolux deal was said to be opposed by antitrust lawyers at the justice department. they opposed electrolux's plan to buy ge's appliance business. scarlet: it is a small part of the business they are trying to get rid of as it turns to more industrial business. little-known fact, i worked for ge appliances for all of three months. mark: all three months? scarlet: apparently i was so terrible at it that they had to move me. mark: greece is running out of cash and even if they strike a last-minute deal, the economy will be in rough shape. misery loves company. check out my cow. -- check out macau. it saw its economy shrink 25% last quarter, something that took greece secures to achieve. scarlet: new data showed that

gaming revenue plunged 36% in june to the lowest in more than four years. mark: it has experienced a one-two punch of the chinese president's anticorruption campaign, which has prodded highrollers to go into hiding, and that has decimated casino revenues could and then you have the overall economic slowdown and it is hurting demand. scarlet: you can look to gaming revenue to fall even further if the government follows through to ban smoking overall. they have a partial ban on gaming floors but if this full ban goes through, no smoking in the ip rooms, getting rid of lounges. high-stakes gamblers will reduce their trips to macau by 17% and stay for fewer days as well. mark: is it me, or does this sound like when the smoking ban went into effect here and they cut some bars would go out of business because people want to smoke and drink? maybe there are similar concerns right now in my cow. these highrollers -- in macau.

these highrollers want to have their cigars and glass endemol. solution isbe the to rely less on the highrollers. in vegas they are betting on millenials. nevada is working on introducing arcade-style video games that would pay out winning and how you kill aliens or destroy your enemy. the idea is to appeal to people who grew up playing playstation or xbox. still-based games. mark: skill-based games. scarlet: i would rock at tetris if they paid me. mark: i am gone, i will see you tomorrow. scarlet: we will hear from howard marks. ♪

scarlet: welcome back to the bloomberg market day. i am scarlet fu. let's get you the top stories crossing the bloomberg terminal

right now. at&t crossing a major hurdle in its acquisition of directv. the $40 billion transaction still needs approval from the fcc. if approved, it would create the biggest u.s. paid television company. new balance is taking direct aim at its biggest rival, nike. today it is launching the biggest ad campaign in its 109-year history. they have been known for running shoes but they want to become a mobile -- a global brand. u.s. manufacturing growth improved in june, getting a boost from a jump in employment. the institute for supply management says that if manufacturing index rose to 53.5 last month from 52.8 in may. manufacturing activity matched a high in january. as you know, a reading above 50 signals expansion. macy's is cutting ties with republican presidential

candidate donald trump. the department store chain is pulling trump-branded merchandise from its shelves. this comes after the mid-disparaging remarks about mexico and other countries when he announced his -- he made disparaging remarks about mexico and other countries when he announced his candidacy. some said it was his decision to cut ties with macy's and he has never been happy about its deals with china. nbc says it will find a new host for "celebrity apprentice." coming up in the next half hour on bloomberg market day, with beer sales up, constellation brands might want to toast drinkers in places like wisconsin, and washington, d.c. fire, and mtv may be facing its own real world with viewership on the decline and elective hit shows. in a setback for japanese prime minister shinzo abe and toyota as the top executive steps down after drug allegations.

howard marks, cochairman of oaktree capital, which manages just under $100 billion, recently released his latest client memo, titled "risk revisited again. he spoke to stephanie ruhle and matt miller to explain why he thinks the behavior of investors changes the investment environment as a whole. howard: the riskiest thing in the world is to believe there is no risk because if you believe there is no risk, you do risky things and the world becomes risky. if people think the world is risky and they do say things -- matt: it is key to realize what everyone around you is doing. if you see everyone else's not taking risk, maybe that is a good time for you to go ahead and do it. when everyone takes risks at the same time. warren buffett says that the less prudence everyone connects their affairs, the greater prudence we must conduct hours. stephanie: why are you telling this to us again? do you feel that investors are ignoring these your political

issues around the world? howard: they are not ignoring the geopolitical issues. the markets respond to those. i don't think we have a great deal of fundamental risk in this country in terms of the economy falling off a cliff anytime soon . what they are ignoring is the risk that comes from prices being high. prices for assets are elevated. are, you know, you have to be careful in terms of what you hold that the other thing is that when people are forr to invest, they bid securities by weakening the terms. so week deals can get done now that can't get done in what warren buffett would call a prudent or skeptical environment. stephanie: do you think we are facing 2007 all over again? , not in amount. there are risks which have

revived. you can do things in the market if you are an issuer or seller that you cannot do in a 2008, 2009, 2010. you can do that now because risk aversion is down an appetite are up. but it is not as bad as it was in 2007, 2008. there is no analog to the mortgage backed securities and the subprime. be that badg should again, although as you point out, we see the unexpected more often than we expect to see it. howard: the oxymoron that we are not expecting any surprises. matt: but i wonder what you think we are now. leon black pointed out that valuations were sloppy. on the other hand, we will have a guest on at 9:30 today who says 19 times s&p is not really overvalued. stephanie: carl icahn says apple is cheap. assets are onk the high side of fair or higher.

there are no bargains. there is you can buy today for less than it is worth. -- there's nothing you can buy .oday for less that it is worth i don't want to buy things that aren't so bad, i want to buy things that are great. david coates at all of these problems in europe are devaluing a copy like a siemens from which is kind of a bargain right now. howard: we are doing more in europe right now than at any other time. stephanie: it seemed like investors said that we are in europe and we are waiting for the banks to deliver but no one did. are thingsl, there to do. it hasn't been a delusion but it has picked up from the trickle of two or three years ago. there are banks that are selling portfolios of loans. we have been on the buying site of some of them with the options don't get out of hand. and we are buying loans and businesses and even starting businesses. no more time come but our hedge funds in a tough spot?

he's a poison girls, manager risk come at a time when investors say i don't want to pay unless you deliver be big returns? ward: not easy. if you look at the returns of hedge funds over the last decade, 5% a year. i will leave you with that one. matt: what do you think, stephanie? stephanie: if you have got to risk management what do you do? howard: sometimes prudence is the right thing to do. we are in a low return environment and the biggest mistake is to produce a high return in a low return environment. scarlet: that was the cochairman of oaktree capital speaking with stephanie ruhle and matt miller. breaking news -- the ecb is set to keep its greek emergency liquidity ceiling unchanged. not a surprise, even that the ecb did not increase the amount of liquidity available to greek

banks earlier this week following the sign that the two sides, greece and its creditors, were not making any headway on negotiations. once again, ecb set to keep the emergency liquidity ceiling unchanged. we will keep you apprised of any other headlines on greece in the next few hours. coming up on the bloomberg market day, bottoms up, everyone. aboutis a new report america's alcohol consumption. take a guess at which state is binging the most. it might surprise you. ♪

welcome back to bloomberg market day. i am scarlet fu. shares of constellation brands rising the most in three weeks after the spirits committee beat analyst estimates on the back of

an 11% jump in beer sales. constellation relies on the u.s. for 89% of its revenue. it got us thinking, what is the state of american trading habits? i got my cohost for the next hour, alix steel. she has numbers that are surprising. detox.net looked at the states that consume the most alcohol. wisconsin is top of the list. 65% of adults their consume alcohol at least -- at least one drink in the past month. the reason why is really interesting. can consume alcohol in bars and restaurants if they are a company by a consenting parent or guardian. you are with a guardian who says it is ok and the bartender agrees. scarlet: give an inch, take a mile kind of thing? alix: maybe. there are lax drunk driving laws as well. scarlet: ugh.

alix: vermont has a lot of craft breweries. that could explain why they made the top five. massachusetts is a low liquor state tax. mn cold: and it is da in new england. i don't have a big reason for that other than there is a lot of bars and college kids for d.c. of the proposition has had one alcoholic drink, and that is because it is a religious state. the mormon church is big there and they for bid members from consuming alcohol. convenience stores only sell low-alcohol beer and no wine or liquor. you can make that same argument for the rest of the states as well. scarlet: if you go skiing, go skiing in utah because there is not going to be any drugs. -- drunks. you will not get that in vermont

or colorado. alix: the bible belt explains the states that don't think a lot. scarlet: there is another study that breaks down thinking habits by gender. it comes to the conclusion that yes, men drink more than women, they out drink us and we knew that. but what is interesting is that meant's -- men's alcohol consumption peaks at age 25, 13 times per week. women's peaks at age 40-45. this study was using data from the u.k. and americans tend to drink less than the british cohorts. alix: four times a week is peak drinking? take a glass of beer or little glass of wine? scarlet: been stricken, some say it might be five or six drink. how many drinks qualify as binge drinking? it seems to have changed over the years. alix: isn't it one an hour is legit? i really couldn't tell you. scarlet: mother of a toddler.

this is what happens. alix: exactly. scarlet: you are going to stick with me as we move on to some thing more serious and look at how commodity prices have settled. that's a start with metals. they had a big,. alix: this only goes through yesterday but i wanted to bring this up because it is at its lowest level in five years and we have global pmi data last night. china inching out, meaning it is barely extending. korea posted its second lowest reading since it was introduced in 2012. australia is not that great. these are countries that are metal-intensive and are growing quickly. is that a negative for the base metals? scarlet: we are seeing the china story drive so much of it. let's move onto crude oil. oh well overall has been moving lower. -- well overall has been moving lower. this is the inventory

numbers we saw. .e saw inventory build first time in nine weeks that we saw it built. part of that is due to imports, 10% more than the week before. also, you have the u.s. feeling a bit strategic petroleum reserve. it was a very big surprise for the markets. i've been talking about this ad nauseam week on week. it could feedback to refiners and they use less crude. scarlet: is there a seasonal pattern in terms of there is a buildup. alix: there should be a drawdown because the refineries are working more. in theory this would be the time where we would drive down inventories and make room for production. how much more oil is out there?

staggering numbers from iraq that they produced a record amount of oil last month. in a june they were responsible for more than half of the opec increased last month. scarlet: also there was an increase in production from opec, too. alix: yes, they increased and that was due to b iraq mostly. that was a surprise again. 4.3 million barrels a day -- million barrels total, excuse me. scarlet: iraq considered a part of opec. alix: there's a lot more to that, obviously. the question is if you do see oil prices decline, what kind of see?ay we were may we not 2016 could be the time when we do see m&a if oil prices don't recover. the leveraged companies could be looking for some help. and then a couple big players like exxon and chevron and bp, do have the cash and could go in and make a purchase.

exxon is $35 billion. they have got some cash to spend . they have not been interested as of yet. scarlet: alix steel, thank you so much. alix will be back in 15 minutes to take you through the market close. let's look at the top stories to general electric's plans to sell its appliance unit running into a roadblock. the justice department antitrust lawyers are opposing buy the ges plan to business. there has been no final decision on whether to file a suit to block the deal. the two company's may be able to resolve the governments concerned. u.s. construction spending gained in may, pushing total activity to its highest point since fall 2008. a big jump in nonresidential projects led the way there. total construction spending increased eight/10 of 1% in may, following an advance of 2.1% in april. and the affordable care act, or obamacare, is attracting younger and healthier people in its coverage plans. a study from express grips says

that people who sign up for coverage this year were on average four years younger than ande who enrolled in 2014, drug costs were 36% lower. those are your top stories. just an update on the ge-electrolux story -- i looked at this, the u.s. has filed a lawsuit against the ge-electrolux deal. opposing thatlly combination filing an antitrust lawsuit. moving onto the markets -- with uncertainty coming from greece, many investors are conflicted on how exactly to react. jeff rosenberg, blackrock's chief investment strategist, spoke to matt miller and olivia sterns earlier. he explained why global markets may not be as effective as dramatically compared to situations we have seen from greece in the past. littleou have to take a bit longer term view and look through some of the short-term volatility as to what the lasting impact might be. thatve long had the view

greece in this situation, while it captures all of our attention and the headlines today, really doesn't have the same connection to the global financial markets that it did back in 2009, 2010, and 2011, when greek issues like this could cascade into a much bigger systemic risk. it is a very fluid event, as you are reporting on, very hard to see exactly how that is going to play out. but the spillover effects, absent a very disastrous outcome, are probably more contained than we have seen in the past. olivia: i think the key spiller spillover affect everybody wants to know about is whether what is happening in greece has the potential to make janet yellen holdback the rate hike. jeffrey: exactly, and the connection between that is how would mario draghi respond, what would be the spillover effect to the rest of europe? would there be an anticipation that mario draghi would have to ramp up for for the european economy to limit spillover effects? i think that is very unlikely,

but that is what bond markets would be looking for. and then the u.s. impact and onto janet yellen -- first, the market impact, and if mario draghi is doing more and a bond yields are going lower, it puts pressure on u.s. interest rates. and that if there is an economic spillover effect, it gives janet yellen and the fed more reason to delay the long anticipated liftoff. if you added all of that to a possible strong jobs number tomorrow, our own economist is forecasting 320,000, way above consensus. that makes it, in his argument, harder for janet yellen to raise rates because the dollar strength would affect the economy negatively. think the dollar strength argument is harder to make now just because of how much dollar strength we have. we have priced in a lot of that differential of european growth versus u.s. growth which created the strength of the dollar versus the euro. the marginal jobs number isn't really going to lead to another 25% increase in the dollar.

yes, we think the dollar will go stronger, but not significantly from here, so that it really changes the story for the economics to change janet yellen -- matt: if goldman sachs, which is admittedly been a real euro bear, is now saying $.95, below parity, if we get 300,000, and we raise rates while europe is doing even more tv, doesn't that just shift it a little bit too much? jeffrey: it certainly shifts it, but that story has been in the market for a long time. i think yes, there is some marginal strength -- matt: i gotcha. jeffrey: it is not the big move we already saw. scarlet: jeff rosenberg speaking with olivia sterns and matt miller. at this hour we wanted to mention that greek prime minister -- yasser arafat this varoufakis is yes

speaking on gray television right now. alexis tsipras spoke yesterday. all of their interviews have been taking place through this channel. we will bring you headlines as they come across. he is speaking on gray television on the greek debt crisis. -- greek television on the greek debt crisis. "oming up, shows like "teen mom not exactly bringing in the ratings like they used to and it is creating a midlife crisis for mtv's parent company viacom. ♪

scarlet: viacom is suffering a midlife crisis. media giant is facing a decline in tv viewers and its leader, sumner redstone. ratings are down by double digits at its most popular cable networks, including, a central,

mtv, vh1, nickelodeon, and tv land. it is the subject of this week's "bloomberg businessweek" cover stor. to pimm foxte spoke and stephanie ruhle. felix: there were such an innovative culture that came up with these pioneering formats. pimm: reality television. "the real world," "the osbournes," all this stuff. the last big hit show on mtv was "jersey shore" -- stefanie: ugh! at this point snooki has two kids and a husband. felix: and the ceo says we don't actually have a programming issue. when we have is measurement and monetization problem. it is not our problem, it is nielsen's problem, and they

haven't kept up with the way young people are consuming tv. what looks like a ratings crisis is just a medicine crisis -- stephanie: he sounds completely connected to young people because he's deflecting all blame. felix: and that is all some of any responsibility for this ratings dive and any need to to reinvest the business. pimm: who is in charge? felix: well, it does feel somewhat rudderless. sumner was forever the leader of the company -- les moonves heard was doing a great job at cbs. felix: but he is not in charge of viacom. lawyer fors sumner's a long time and under his leadership of the company has become risk-averse. they have not done major acquisitions -- pimm: why not put leslie moonves is in charge of the whole thing? felix: well, that could potentially happen down the line, when sumner passes away.

of theghter is in charge seven-present trust and what happens after that, yeah, probably, the critics will say it you need to bring in new leadership. stephanie: do you think les wants that? felix: i mean, it is going to be of a turnaround for whoever takes that over. there are other options, too. but you know, do you still want so concentrated in ad-supported television geared towards young people if young people -- stephanie: young people who are spending their lives watching netflix and youtube? scarlet: you can read the cover story in the latest edition of "bloomberg businessweek."

referendumeece's

will go through today. hillary clinton's presidential campaign raises a record $45 million in his first quarter. -- in its first quarter. later this hour, you will be hearing from arianna huffington. she tells us why she decided to stay in the wake of aol being acquired by verizon. scarlet: good afternoon, everyone. alix: let's get straight to the markets. you are seeing a slight rally. steam when lose some the euro group chief