in the euro for months. tsipras run out get its own coalition to accept. erik: what is happening on the streets of athens. what is happening on a deal worse than the one projected just weeks ago. brendan: and clinton makes her first economic speech today. job number 1 -- to boost middle-class wages. ♪ brendan: good morning. i'm brendan greeley. erik: i am erik schatzker. we have to start with greece today. it's a tentative deal to keep th greece in the euro zone. tsipras capitulates all the demands by its creditors to begin the discussion about a

fresh bailout. the bailout is hardly guaranteed. begin ifotiations will and when the greek parliament passes what tsipras agreed to this weekend. brendan: these negotiations were not actually getting a program in place. they were about what your needs to do to regain trust to begin negotiating what a new bailout would look like. erik: doesn't seem like a good idea anymore does it? and olivia sterns is in athens. hans, let us begin with you. people are getting a sense of what is in the agreement. why don't you briefly summarize it for us? let's talk about the mood in the room. what was it like when people realized what they already do -- germany is in charge in germany is deciding pretty much everything? hans: to give you a recap, we

are talking about a right to apply for an additional loan. it could be up to $86 billion. crucially, greece has to do a couple of things beforehand. on wednesday, they have to pass for important measures, measures the government indicated they would reject. that includes pension reforms. that includes reforming the vat. we have this $50 billion private investment vehicle. how do you privatize the greek estate assets? earlier reports was that it was going to be in luxembourg. mutedis has fueled optimism in brussels. i should stress that we are not there yet. earlier today, i spoke with the finnish finance minister. he is what he had to say. there seems to be a lot of people who have jumped the gun here. like the beginning of the negotiations are automatic.

no, it is absolutely conditional on the decision of the greek government and the greek parliament. the big issue will be great financing. i foresee those negotiations being difficult because i do not see many countries having a monday -- mandate to give money without conditions. hans: those conversations are starting right now. finance ministers have come back lowfor this discussion. there is a lot more paperwork to do and there is a lot more political work. back to you. brendan: hans, thank you. parliament will meet on wednesday and discuss greek bank recapitalization. let us turn to olivia sterns in athens. olivia, what do we know about ecb liquidity measures that are offered to greek banks? how much longer today half? -- do they have?

olivia: greek banks are closed and their rapidly running out of money. there is optimism that they will reopen services later on this week and the limit on atms will be lifted. nobody expects capital control to go away anytime soon. the deal is something that needs to be approved by parliament before dumping billions of euros for recapitalization. mario draghi once alexis tsipras ants alexis tsipras to get approval before recapitalization. they will wait for a two day meeting in frankfurt before they decide whether or not they are going to in fact with the cap on the emergency liquidity assistance. nobody knows how much money is ultimately going to be needed to bail out of banks. another greek official told us they do not know if that greece can make it wednesday without atm withdrawals. that is the help of a lot of people.

people think that a haircut on depositors is very much on the table. i would stress that if it does happen that it is going to hurt working-class and lower caste greeks. any means in the country have got most of their wild avenue country already. brendan: last friday, tsipras lost 17 members of his own party. if he goes to vote, any sense on how many more he is going to lose? olivia: it's a good question, but no. there is a good sense that a reshuffle is inevitable. 251 votes out of 300 in support of a deal with europe. he has got the support. it is not going to come from his party. most people expect immunity within his own party. you heard a greek official today that said that greece has been waterboarded by creditors. that is the feeling within his left party.

he will have support, but just not the guys he was elected with. brendan: it wasn't the shot clock is what sacred banks. erik: wednesday for greek banks and wednesday for greek parliament. let me show you what is happening in financial markets since that agreement was reached forcibly by mr. tsipras in his creditors. stocks here in america all the rise. europe has the biggest four-day rally in european stocks in three years. you can see here that the euro a broad that's what. it gives you a sense of what is happening across the continents. germany has faced a huge run in the last week. brendan: for more on the greek reaction,lobal market we bring in the chief investment officer. we also have the investment

officer for merck investments. what do you think of today? is this actually happening or are we still waiting for things to happen? >> we are searching for new adjectives for dysfunctional. the fact that the market did not collapse in the epicenter of the crisis in confidence to investors. confidence that the ecb is going to step in and make it better. erik: and it weaken the hand that mr. tsipras was playing. vadim: a lot of activities that we have seen since the beginning of the crisis has strengthened the feeling that perhaps greece is a one-off story. that consumer and business confidence are going to stay reasonably strong. brendan: jeter as a market participant whether europe gets its structure right? or do you just care that there is not complete catastrophe greece?

vadim: i care about both. much of it is driven by government action. you could not be an investor and ignore that. moderation would probably be enough to get the stock prices higher. erik: it does help to frame things in terms of winners and losers. who are the winners right now and who are the losers? >> i think everybody is losing in some ways. there were not very good choices. the greeks could choose between a bad deal at a horrible deal. they are losing, but they do not realize that everybody wants to help them. as far as the rest of the world is concerned. nobody is going to change their lifestyle as it goes with greece. there is a little bit on this notion that if your can get its act together and impose it proper structure,, what you see is what you get. they give up sovereign control of the budgeting at the other

guys help. that is what europe is about. i do not think that is going to change. link angelaoing to merkel as the european president. it is always a strong once giving help to the weak ones and the weak ones are not going to say thank you for it. if they do not like it, too bad. that is how your works and how it is going to work going forward. erik: paul krugman is promoting the loss or the serenity of the greek sovereignty to european creditors and more directly to germany. is that the way it works out? axel: they can walk away from the deal. personally, i think that might be better for greece in the long run. they are not going to change the culture. you had to impose the sort of lifestyle that northern europe would like to have on southern europe. it is a political question. the have rules right now and they are trying to make it work. ultimately when you subsidize greece this way or that way, it

doesn't really matter. as far as financial markets are concerned, we will move on. this is a sideshow and distraction to what is happening. suffering, there pensioners and greek state employees, everyone else knows a way around it. tri-saidthinks it is -- nice they are trying to help them. as far as european markets, greece is overrated because these loans are all socialized now and the market is ready to move on. brendan: kind of a cynical look, but let us look at socialized now. is it sustainable now more than it was 25 years ago? the creditors with the debtors? had you given into the veins, you would have raised questions with some of the weaker participants in the market and they're going to be emboldened to both negotiate and act.

part of this decision is not decision. it is a political decision to show strong resolve it to avoid more hazard that they would do with an exit. that is why the market has reacted positively to the news, even though it is not particularly great news. brendan: i'm fascinated by this question that has hung over the euro since the crisis of 2010. that is so far in the past now. we're not talking about that anymore. of that debt is now owned by the ecb and imf. brendan: thank you both very much. meantime, hillary is presenting her economic agenda. she says the next president needs to focus on income inequality and boosting middle-class wages. she's also called for tougher wall street regulations and

taxes on the wealthy. for her remarks live, head straight to bloomberg.com. coming up, greek banks are running out of money. what a infusion would do to the what a cashation -- infusion would do to the cash starved nation? details of next. ♪

brendan: good morning. welcome back. i am brendan greeley. erik: i am erik schatzker. brendan: we're going straight to ra with a look at markets. ramy: the s&p is up 1%. both of these markets so

consumer distric discretionary spending leading the way there. groupon shares are also rising. groupon is up 5.8%. this is because stock is upgraded from neutral. there are two reasons for this. stock has fallen 29% since reported q1 earnings. that is a buying opportunity. ofupon has cash and assets $2.6 billion. investors are protected from fundamental and execution risk. is downve where maker by 1.3%. it missed estimates. the forecast was for nearly $3.2 billion. it actually came in at $2.5 billion if it should millions of units lower-than-expected. apple right now is trading at just a little over 1% right here. this is because it was upgraded from buy to hold.

-- the introduction of the watch for the first time. also, iphones are rising. the stock is upgraded to forecast volumes of 40 million in china makes up nearly 30% of global demand. the ml says it wants you to buy apple after it suffered a routine drop. back here on july the, it hit $120 and change. buy, guys.ents a erik: the latest on the stock market. .et us look at the top stories negotiators are touring down -- toning down optimism over iran's nuclear program deal. the u.s. and iran are trying to work out the last remaining issues. earlier, there was talks an agreement might be announced today. officials are trying to make sure iran is not capable of

building a nuclear weapon. -- crowded fiel field for the public nomination is getting more crowded today. the firster is government in american history to defeat a recall election. an assignment she is noticing the growing support for bernie sanders, hillary clinton is urging higher wages for all americans. is giving a speech right now in manhattan. this is her first major policy speech since announcing hurricane with the back in april. sanders is drawing enthusiastic crowds with a populist message as he intends to challenge mrs. clinton for the democratic nomination. those are your top headlines. brendan: let us go back to athens. olivia sterns is there with a local businessman. who are you talking to? olivia: thank you so much. i'm here with a former chemical

engineer and former investment maker and also a former director at the world bank. it is great to have you. local press is saying that alexis tsipras surrendered by signing or agreeing to this package presented by creditors. do you agree? you think he surrendered? >> it is hard to avoid emotions right now. what we need now is more reason and less hype. i think politics is more about managing expectations. there are no miracles. engaged inment has meeting up expectations. turns out to be unrealistic. what happens was an acknowledgment of reality. story: up until now, the has been that too much medicine is killing the patient. there is too much austerity and

greece is still stuck in contraction. you think this program of more harsh austerity going to be the one that gets greece going vegan -- again? damianos: there is no doubt that you do not do austerity when you have austerity recessions. the obvious lesson learned by everybody, but yet, it was imposed. austerity was imposed on greece and it proved counterproductive. thertheless, i think partners are insisting now structure reforms, that we free up the productive potential of the country. i think it is fair to say that the reason, in my opinion, the main reason why greece signed in this particular predicament is that over the last 30-35 years bothw a growing that is

fat in an efficient. not only does it not help, but it actually impedes the private sector. remove that, growth will explode. the assistance should be on that. the numbers are small and they will follow. olivia: yes had a lot of experience restructuring and capitalizing banks, particularly in poland. greekd when do the banks reopened? to be open with limited withdrawals is much too soon. there are practical things like transporting trucks of cash. being what it is -- the first thing that will happen is that people will withdraw everything they could. i do not expect that to happen. helpanks to be able to with productions that allow

businesses to restart, such a small companies or any company being able to import raw materials and make their payments on time, this will be a great help and i expect it will happen this week if greece delivers. olivia: certainly a lot of business people hoping that. you are a retired banker, but you are investing in athens. where do you find a place to put your money now? damianos: forget about the stock market. you lick your wounds if you are there. we think there are tremendous opportunities in a very immediate future in working capital for companies, small-and medium companies, especially export oriented companies. i know there are initiatives in this area. same idea for crisis and opportunity.

i'm sure your audience will understand that where there is crisis, there is opportunity. i hope that they will see this as the bottom, as greece reaching the bottom and then starting to go up. i'm putting my money where my mouth is that there will be investment opportunities here. the example that i mentioned is only one. olivia: everyone says that is the key to getting small and medium enterprises growing. thank you for your time. back to you in new york. brendan: olivia sterns, thank you very much. if you are investing in the greek stock market, with your words. that is what he said. erik: the spot market has not reopened yet. we are taking a quick break. we will be back in a moment. ♪

we haven't talked a lot about china, but we are talking a lot about greece. that is what is drawing my attention after mr. tsipras more or less reacted the way most people assumed. they will say i will do whatever you want. brendan: i went back and look at all the different versions of the deals on the table. particular is in the german inability to show magnanimity in victory. some of the demands they were talking about initially were that they wanted greece, if it exited the euro, to enter a terrorist group, which is reserved for countries down on the left and beyond the pale. the conclusion i've come to after talking about this and talking to people about this this morning is that it feels like the beginning of the end of the eurozone and not the act that saves the eurozone.

the reason is this. if you are spain or portugal or italy or ireland, and you're watching what played out with greece, you're saying to yourself, goodness knows what is what happened to my economy. it is knows if i can service my debt. if i cannot, do i want to find myself were greece has surrendered its economic sovereignty effectively? what do i want to make plans -- or do i want to make plan b now? greece's problem is that it did not have plan b ready. brendan: they need to accept the ability that money is gone. erik: i'm going to say goodbye. brendan: i'm still here. erik: i will see you tomorrow. ♪

brendan: welcome back to the world would -- the bloomberg market day. premium from 40%

friday's closing price, driving for the consolidation of the auto parts industry. warner makes turbochargers and transmission parts. the deal is valued at $1.2 billion. there's a takeover today in the consumer goods business, waddington group is purchased at $1.4 billion, their brands include sunbeam, mr. coffee, and crockpot. we all own one. they make disposable cups, plates, and utensils. the private he is owned by private equity firm, with his partners. a deal in the natural gas sector. isquis energy partners purchased for $15.8 million in stock and cash. the proposed deal combines the largest processor of gas and ohio. the deal is excited to close in the fourth quarter of 2015. comcast is launching a streaming video service. the move comes as the company faces intrusion from

companies like netflix and more customers becoming mobile's. the services called just rain, and lodges in boston later this summer. and everywhere else by early 2016. microsoft is launching windows 10 later this month to the upgrade offering system will let users switch seamlessly between pc, tablet, and smartphone. it is intended to give apps a similar feel on all devices. it comes with a new web browser integrated with cortana, the answer to syria. windows 10 will be available as a free upgrade for a limited time. those were the top story at this hour. coming up on the "bloomberg market day," its bank earnings day. jpmorgan and wells fargo kicks things off. we look at what analysts expect to see. becomes analker official 2016 canada today. how does he plan to win over voters there leaning so far towards from under jeb bush? was the euro of mistake from the

beginning? what people were saying at the time, regardless of whether greece stays or goes. david durham has been walking the streets of athens to get reactions for the governments capitulation. you were at the market, will be referred to as the real greek economy. capital controls look like no matter what happens to angst, they're going to stay in place for the next several days, at least. when the people said so far that you've talked to in response to the continued capital controls? david: what's different this time is that the end date for these capital controls is open. there's ambiguity about how long it will last. the meat market, i spoke to a butcher. something interest in happened the first week these capital controls were in place. business was actually up there in of people spending the money they had on meet you put in their freezers. ist's of great concern here taxes. i talked to a butcher a couple

of minutes ago about the deal and about the tax component of it. >> i don't know where we are going to find $50 million here in greece. it's very difficult. it's a dream. that's interesting to hear him say. --id: this is a guy brendan: this was a made-up number from germany. it's interesting to hear them say that. david: exactly. it is trickling out. ist is super interesting that this is not a profession that he wanted or set out to take. he went to university and got two masters degrees. now he finds himself working as a butcher, making what he says is 700 euros a month. he said what many people are told me today, which is if you are making that much money and the demand is on you from the government were so much higher, there's no way can work out in any sort of sustainable way. brendan: if you have any conversations about exactly how

he is accounting to pay his taxes on the money he makes? david: he sounded very desperate about the future and what it holds. he analogized what happened over the last several years as tantamount to an academic exercise. this nose coming to the grind stone. we will have the game it moved to athens it will take place in parliament. he's waiting like everyone else to see what's going to happen. it's a good question of how he sees the future playing out with the demand on him and the amount of taxes surely to increase over the next few months. these linessee atms, they can take out 60 euros a day. do we know what 60 euros are going towards? are they going underneath mattresses or are they being spent in the day-to-day basis in the consumer economy? my sense is they are being spent. the pharmacist told me that a woman needed to buy two kinds of medicine and she only bought one. she had to make a difficult choice. the same kinds of choices are being made a restaurants, the

market behind me, butcher here said in the past he might have gone out tonight night a week, now it's only one night a week. people are curtailing their spending across the board. brendan: the question with greece has always been timeline. when his time right now to make a decision? the supplies the pharmacies and butchers have, what is their timeline and when to their supplies really start to run out? david: the pharmacist says he has three months of medication, it's been hard for him to get because of constraints on imports. says greece does produce enough smaller ones he is able to stock those. a guy in a petrol station said it would be nine months before greece ran out of that. at the butcher shop, a lot of the meat is imported. 70% comes from italy, spain, other countries. there are constraints, real constraints these folks are looking at. brendan: david from athens doing reporting on the real economy. it looks that we have more time than we thought for imports to

run out. still in on the "bloomberg market day," a busy week on the earnings front. will big banks report record-breaking profit? that's next. ♪

brendan: welcome back. we are an our into the market day, looking at cautious green. we take a look at the top stories crossing the terminal right now. history repeated itself at wimbledon. novak djokovic should be roger federer -- beat roger federer.

, it's 17 championships djokovic is third title. jordan spieth heads to the british open on a hot streak. he's going to playoff for his second win in a row. next weekend's british open would give him three legs of the grand slam. it also makes jordan spieth the world's top right golfer. universal pictures minions was a big winner at the box office over the weekend. the despicable me prequel took over $150 million, the second biggest animated film debut in america. only shrek the third did better. those the top stories this hour. it's time to get you caught up on market action around the world. ramy.rt with behind me are green across the board. the s&p five hundred is up, -- 500 is up.

the nasdaq is a big winner. for the nasdaq is the best day in more than two weeks. looking at the bloomberg terminal, it turns out that all 10 sectors of the s&p are in the green. there led by consumer discretionary as well as information technology. , amazon,urther priceline, netflix between 2% and 3%. it turns out amazon is hitting a record, up 3.2%. after the developer inside of greece treasuries are falling as you might expect. around 2.44 up at right now, it had been lower at the open. and as high as 2.46% for yield and its highest. investors are feeling a bit less fearful today, the mix is down by about 13% today. to the 14.6 mark. this is the lowest level since june 16. let's take it over to london and laguna mark barton to take a

look at the european markets. market: stocks rally, it's as simple as that. european stocks on track for the biggest four-day gain in almost four years. to think the last tuesday, the stock 600 was within a whisker of a correction, falling 9.89 -- 9.90% rise in april. every single sector is rising on the stock 600 today. it's the banks leading the advance come ever simple bank is rising today. the euro on friday rose by 1.1%. it's falling by literally a similar amount. investors choosing to focus on the rate differentials between the eurozone and united states. it's those rate differentiations that are boosting the pounded today against all 16 major currencies. investors focusing on this week's average earnings and employment which took points to a rate increase here in the u k sooner rather than later. bond investors letting the great

deal today. the greek bond market yield, the yield on the 10 year fell by 521 basis points on friday. it is down by another 157 basis points today. the spanish in the italian bond market, more circumspect. investors want more clarity about the terms of the deal. we wait the vote in the greek parliament of course on wednesday. coupled with the impending votes by various national parliaments. the french 10 year yield down a fraction, the german 10 year, the yield down as well. implementation risk is the big one going forward. you from london. in asia, the shanghai composite rose 2.4%. everything they can be thrown of that exchange has been thrown. important to remember that not everything is trading still. a lot of stocks halted on that exchange. the hang seng in the green. the nikkei added 1.6%.

volatility,eek's china's june for data provided tentative reasons to be optimistic that the actual real economy will weather the storms. we have this report from hong kong. export engines want to life last month, holding three consecutive months of decline. outbound trained in june -- trade in june was above the 1.2% estimates. if an encouraging results given the month-long reverberations are the market, wiping trillions of dollars of equity values. experts say china's stimulus is stabilizing demand. role demand for chinese goods a sluggish and a strong you on makes exports less competitive. the june trade it is an important clue as we look ahead to wednesday when beijing report second-quarter headline gdp growth. zeb eckert in, hong

kong. thank you. jpmorgan at wells fargo route tomorrow, followed by bank of america, citigroup, and golden. all the big ones. when questioned analysts are asking -- how much they make on all the market choppiness this year. join to discuss this is mike regan. what are we looking for? mike: a very busy week. 39 s&p 500 reporting big names. johnson & johnson, intel, google. the weakest frontloaded. -- the weakest frontloaded. we see readings that suggests the trading revenue lines will pretty much be flat. equities was a little bit higher. but other trading levelers -- revenues are lower. overall the consensus estimate is for banks to post a 4% drop in earnings. , theirw, jpmorgan

estimate is for a high single digits drop in earnings per share. wells fargo about a 2%. what i found fascinating with those two banks is how far off their reported number is usually compared to the estimates. wells fargo averages a 40% surprise, meaning it's reported numbers are on average 40% different than what analysts estimate. jpmorgan chase about 27%. last fouras had quarters of been pretty handily, double-digit percentage reads. you have to take these numbers with a grain of salt. brendan: looking abroad to the larger banks, the story we have seen for the last year is that simple is preferred by shareholders. as we come to domestic earning season for those large banks, are we going to see simple or structural reports and those banks as well? mike: what are the main things you're going to look at as we've had credit bodies improved. bad loans are going down.

there are provisions for bad loans, it's decreasing. the evaluation has been a big boom to banks over the last few years. a lot of add-ons, they are questioning whether that is peak , asset quality has gotten as good as it can get. going forward with the fed raising interest rates, it raises the question of now will we start going back the other way, we have to increase provisions for that loans and charge-offs. solidhave had a really quarter, with a lot of people believing interest rates would be good for them. say is the question to that credit quality peaking? that's the big question. is the sort of improvement we've seen in credit quality about to run out of steam? brendan: one indicator i been watching is the excess reserves at the fed. this is not required reserves,

just money the banks don't have anything better to do with that the pocket to the fed and get 25 basis points on it. that number has dropped in the last three months. should we see this as an indication they are finding some thing better to do with this money? i think so. the other interesting data point quarter overh area quarter, the year-over-year. it doesn't sound like much, but that's a pretty decent number from first quarter the second quarter. now,growth is positive for that is certainly a strong signal. in smaller banks, five to $50 billion in accidents -- in assets. they're as the growth is actually outstripped in the last year or so the much larger banks. is there anything that could reverse that trend, where we watch larger banks catch up in asset growth? the: the big question is interest margin. for this quarter is lower than last euro.

the general thinking is it is bound to go up eventually. it comes with so many other heavy odds, credit quality, it's a great question. i don't know. we will have to take a look at these reports and see. what you see in terms of regulatory risks for banks? the good news's expenses for lawsuits and revelatory risks have gone down significantly. that is another sort of positive in this quarter. brendan: this is for litigation risks. it are talking about changes to laws and d.c. anyonehanges to laws is guess, but this is gone down significant way. but the number a lot of people are disappointed with. brendan: i promise you the most entertaining read on banks you have. still ahead on the "bloomberg market day," the prescription for fixing the economy.

>> is not delivering the way it should. it still seems to most americans i've spoken with that it is stacked for those of the top. ♪

brendan: welcome back to the "bloomberg market day," i am brendan greeley. hillary clinton laid out economic policy this morning here in new york. the next president's top priority will be to boost middle-class wages. hillary clinton: republicans have argued that if we give more wealth to those at the top by cutting their taxes and letting

big corporations write their own rules, it will trickle down. it will trickle down to everyone else. chance totime have a try that approach, it explodes the national debt, concentrates wealth even more, and is practically nothing to help hard-working americans. brendan: meanwhile, wisconsin governor scott walker will officially join the race tonight. he becomes the 15th official republican candidate and is leading in the polls in iowa. we bring in phil mattingly. -- walker hasot been tapped as someone who could potentially win the nomination. what does he have going for him? phil: he has a couple of things. first and foremost he has won three times in four years in wisconsin, a purple if not blue state.

-- inabilitybility to win states that are purple, and between democrat and republican has been one of the biggest drawbacks. he has done that very in those races he has drawn from an enormous group you can consider donors. 300,000 dollars -- $3000 from the coke brothers -- the koch brothers. he is a conservative record. he is seven or eight points ahead of everyone in iowa polls. even though today is his first day in the race, he's a top-tier candidate. now it's time for him to go out on the campaign trail and prove why. brendan: his tweet was interesting, he said america needs a fighter. is he taking on some of the rhetoric that is already working well for donald trump? a republicans looking for someone who is going to be antagonistic? republicans are looking

for someone who is going to be antagonistic. you're never going to find anyone who has been more antagonistic than him. despite against the union and to restrict union roles in to ansin was what led recall and brought the national democratic party against him. being a fighter is one of his key elements of his biography, and he's going to focus on that throughout the next 15 months. brendan: give me 30 seconds on what his platform ip -- might be. scott walker in a soundbite. phil: he is a personal with a conservative resume. tax cuts during his time in office, concealed carry being allowed in wisconsin, that's cutting back on abortion, legal abortion in wisconsin. that is the fight against the unions. the big question, the biggest question you have primarily from big-time republican donors about scott walker in his future in

this race is foreign policy. can he get smart, and get smart fast on these issues which have become such an important part of where this primary is going to go. go to someone who can be wrapped up in a single soundbite. hillary clinton speaking in new york. once we hear for her -- what did we hear from her -- more bernie sanders and we used to? phil: you don't want to look through the lens of bernie sanders, is she going left like elizabeth warren. this was an extensive policy speech, in the sense that it was very wide-ranging, laying out principles that her campaign says she is going to follow up with specific key points in the weeks ahead. went verybout it, she hard on wall street in a way didn'ten her aides specify. she talked about derivatives, admin's ration not

jailing individuals in the wake of the financial crisis. it was more than we expected, and you naturally look at the way the democratic party has drifted to the left. what you hear things like that coming from hillary clinton. brendan: it gets to the heart of the challenge of her campaign, which is to differentiate herself from barack obama. how will she figure that out? helped us get out of the ditch, now i want to make us better. that is her point. we appreciate what president obama did, i was part of it, now we want to try make it better. brendan: phil mattingly in washington watching the campaign growth. we have a year and a half to go, and we are already talking about that. in the next hour, of the "bloomberg market day," greece makes a deal. we look at what's ahead for the euro. ♪

>> it is 11:00 a.m. in new york and 6:00 p.m. in athens. greece surrender. trimester tsipras -- prime

minister tsipras must convince his parliament to accept a euro zone bailout. what does this crisis mean for the future of the eurozone? is the common currency still irrevocable? or was it a bad idea from the start? >> and companies are headed to brooklyn. we were teaming up with two of new york's biggest real estate developers to make a home at the brooklyn navy yard. brendan: i am brendan greeley. pimm: and i am pimm fox. let's find out how markets are trading right now. the s&p 500 adding nearly 1%, up 18 points. the pricebidding up s