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tv   CNN Newsroom Live  CNN  July 6, 2015 12:00am-1:01am PDT

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-- captions by vitac -- www.vitac.com i'm zain asher a warm welcome to the viewers in the united states and around the world. >> i'm max foster. thank you for joining "cnn newsroom." >> we are following news from greece a country facing an uncertain financial future. >> yanis varoufakis announced
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his decision to resign online a short time ago. he said his departure could help the prime minister negotiate a way out of the country's debt crisis. he said he would wear the creditors loathing with pride. >> thousands of people celebrated in athens central square cheering waving flags and setting off fire crackers as well. the no vote is unprecedented and it could send greece on an exit path. >> the government is reacting to the resignation. yanis varoufakis played a key role or a leading role in the negotiations as the finance minister since the first day of the government. the prime minister feels a need to thank him for his unremitting efforts to promote the government's interests and position to the greek people under difficult conditions. under the counsel of political leaders his replacement will be announced and that meeting is
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happening as we speak. >> and elinda labropoulou joins us from ath witness the latest developments. we are hopefully going to be hearing from alexis tsipras right now. he is apparently meeting and is going to come out and discuss a possible replacement for yanis varoufakis. do we have any idea who that replayingmentre replacement might be? >> reporter: we know that the statement that was made on the greek media where he says the negotiating team is going to be a pro-european more moderate team or at least that's what he seems to have indicated. there are a number of current negotiators who could replacing mr. varoufakis. it will all depend on what mr. tsipras decides to do. will he decide to choose someone less known or someone he believes is on good terms with the creditors or better terms
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than mr. varoufakis has been. mr. varoufakis has been a choice that has been drawing a lot of attention and his wording has been very strong and strong rhetoric from greece against its creditors in many ways. and i think this is something that the prime minister is going to try and tone down. but we will have the announcement of the name after this meeting that is currently underway. another significant issue about this meeting is the main opposition leader resigned last night. it seems to be the case that we're going to have a lot of political new faces, no people coming in to the greek political sphere possibly in the next 24 hours. >> it's interesting. both alexis tsipras and yanis varoufakis both said if it turned out to be a yes vote they would both resign but it's they got a no vote and yanis varoufakis ended up having to
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resign anyway. but alexis tsipras has argued that a no vote would put him in a better negotiating position. do we know if that's true yet? >> reporter: it's difficult to say at the moment. because we're not quite sure how europe really is going to react. we have an eu summit tomorrow and a euro group tomorrow as well. the first indications for the vote for the no vote so far at least from the euro group mr. dijsselbloem he has not seen this as a step to making discussions with greece any easier. an i think what greece is trying to do is by changing the key players is to be able to back down in its positions on half the creditors listen in more closely again. but while this is taking place we're looking at a country where the banks remain shut and without a very clear picture of when the banks are likely to reopen.
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earlier today we spoke to the managing director of an intelligence company. let's listen to what he had to say about the banks. >> provide more liquidity until the euro summit tomorrow depending on which kind of green light they get there, they might be able to do something. but until now, tomorrow the banks will run out of money and we'll see on wednesday where they can reopen. >> are europeans likely to listen to mr. tsipras's request for debt relief? they haven't done so until now. we have seen some pressure from the imf come in for this. is europe likely to give way? >> they will start the negotiation. they will be talking about that. but debt relief comes as always in exchange for conditionality nor more reforms and more spending caps and more taxes. it's part of a bigger deal here.
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>> what remains to be seen is whether this deal will take place and when. time is of the essence. >> absolutely. time is essence and it will take weeks, not days as the government has suggested to the voters until yesterday. >> so whether you're looking at weeks ahead you are looking at a very tough time for the greek people who are already queueing at atms and have been doing so for a week and the economy has been frozen for that amount of time. and this comes at the height of the tourism season there are concerns about how the tourism industry will fare as a result of it. >> there could be problems with tourists taking money out from banks. but i want to ask you if we go back before the referendum eu leaders said a no vote would essentially mean the greek people rejecting the euro. it would mean saying no to the
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euro. do we think that the troika was indeed bluffing? >> reporter: i can assure you this is not the position the greek government has been taking. they said this is nothing to do with the euro and has to deal with specific programs and bailouts. a country cannot get kicked out of the eurozone. a country has to leave the european union to leave the eurozone as well. it's not an easy thing to happen. if greek has to print a new currency or something, you know something like that which would take a little bit of time before we find out whether this is going to happen or not then a grexit is more and more possible. but from the greek side we have reassurances this is not the case. whether the creditors see it that way, at the moment most statistics seem to though that a grexit is more likely than before the referendum was held.
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>> elinda labropoulou, all eyes are on the greek banks to see if they reopen tomorrow tuesday. we'll see if that happens. elinda labropoulou live for us in athens where it is 10:00 many the morning. >> 8:00 in london and the european markets are opening and we'll get a sense of a possible contagion. we have been warned it might happen on the european markets. nina has the markets behind her. takes through it nina. >> a sea of red. but these losses aren't quite as pronounced as some people might have feared. before we got the first settling figures of the markets, we did have the key eurozone markets in france and germany down in excess of 2.5%. but they have settled only down around 1.6 to 1.8%. that is not as much as some people might have expected. why? it may be because of this decision by the finance
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minister yanis varoufakis to step down as well as hope in the markets that that could help alleviate the tensions. apparently he was a source of the difficult rhetoric that had been marring the ongoing difficult negotiations taking place in brussels. but when you talk about contagion the kind of markets to look at are in southern europe. i want to point out the ibex in madrid is the number from friday. it often takes a long time for that market number to feed through. it fell on friday. but the rereaction is coming from the -- >> i'm going to interrupt for a moment. alexis tsipras, the prime minister going into a key meeting right now where he will be discussing who will be the next finance minister. we'll wait to hear who that is going to be. there are names in the frame. a big moment for him. he had the referendum yesterday and he is without his finance minister who has been his wingman in these negotiations.
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and he is meeting with the council of ministers to decide what to do next. they have thrown the ball into the court of the euro group and the european central bank saying what are they going to do about saving the greek banks? we'll find out later on from the european central bank what their language is going to be. but this is high politics in place right now and a key position in the greek government sitting vacant today from the incumbent who has stepped down announcing he was going to do that on the internet on twitter, no less. >> saying that he was forced out by the troika and that the troika didn't want to negotiate with him any more. and the opposition leader in greece stepped down as well. >> a leadership issue at this point in greece. as far as countries outside greece are concerned, what language are you looking for from the ecb to reassure the
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markets? >> we're going to have to wait and see here. but that is the big question that a lot of the people will have. at the moment when you were speaking to elinda in athens the greek banks are set to reopen after more than a week long of being shuttered with people able to get out about 60 euros a day. and these 20-year-old bank notes which means they are only able to get smaller amounts. and look at the ftse mib in milan, how can the ecb limit the contagion. greece is one of 19 members in the single currency union and the politicians are saying the ecb is independent as any good and decent central bank should be but it shouldn't prop up insolvent countries forever.
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and if the greek banks can't reopen this week yet again and can't reopen after, the big fear is when they do open people take so much money out of them there won't be enough in the coffers and the ecb will have to recalculation and that could precipitate a disorderly exit from the eurozone. it has a fine line to walk for the safety of the other countries that use the euro as their single currency. >> we have these live pictures of the tsipras meeting where he is going to be discussing what to do next. the priority is to get a new finance minister. there has to be a continuity. in terms of keeping the economy going, what does tsipras need from the lenders to at least keep it going for the next few days? >> the big thing that we will hopefully see over the next few months or so according to this
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government is some plan to help greece grow from here. remember this is a country that has been in a depression for the best part of eight years. the most precipitous fall in living standards across the european union. the stakes couldn't be higher. and what the greek government has been adamant to see is that they just don't have a hope in paying back all the debt this country is saddled with. the issue of debt relief is something that this government will be lobbying for very very harshly. but a lot of people saying the talks with creditors even if mr. tsipras reckons he has a stronger negotiating hand after the no vote a lot of people are saying it is going to be tougher getting to the negotiating table because the economy is shrinking before they came to power. so we may well see more demands
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but upped austerity rather than an easing off of the conditions from the creditors which is what he wants. but further down the line the issue will be debt relief how to write down a portion of greece's debt. >> just to reassure people outside greece that there is not going to be much contagion a report i read earlier suggested that the ecb does have quantitative easing at its disposal and a pile of money to do that. if there is a sense of contagion it will be chucking cash into the markets to do that. >> it will but when the ecb decided to engage in quantitative easing, it decided to exclude greece from that proposal at the moment. this is another bone of on contention here.
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and so greece has for many a year in fact since the start of this year since the government came to power and we saw that very difficult rhetoric come to the fore degrees has not had access to all of the machinery of the ecb that other eurozone countries have had and that is a bone on contention. not only is that key meeting taking place where the ecb will be revising the ela to the greek banks today digesting the outcome of the vote. the next deadline involves the ecb. on the 20th of july greece has to pay around $6.5 billion to the ecb. forget the fact they defaulted on the imf debt of 1.5 billion they have more to pay back to the european central bank. with the banks shuttered and if they deponent get a deal on the
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table they have to find common ground with the ecb because they are coming under pressure not to continue supporting an insolvent country. >> we'll be back with nina checking on the european markets to see if they are going to go down. they are look for leadership from the policy markets to reassure them. >> the big question is who is alexis tsipras going to pick? meantime the pope is in south america and the excitement has been building. up next how the faithful are showing their love and why this trip could be crucial to the catholic church. a record-breaking women's world cup final. highlights of the excitement match-up between team usa and japan straight ahead. running my own shop has been brutal. but then i got a domain and built my website all at godaddy. now i look so professional
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within autoalert can trigger the button to automatically place a call for help. philip's lifeline has saved more lives than any other medical alert service. this is philips lifeline we received a fall detected signal. do you need help? call now about philips lifeline with autoalert, the only button with philips advanced fall-detection technology. we'll send you this free brochure with information about the importance of getting help quickly should you happen to fall. when i fell, i couldn't press the button. i blacked out, and so having lifeline with auto alert really saved me. if they don't push the button, they're not able to push the button, it takes over and gets them the help they need. multiple sensors inside autoalert can recognize the differences between your everyday movements and a fall. so if a fall does happen and you're unable to push your button, autoalert can detect it and automatically place a call for help. in a fall or medical emergency, every second counts. with lifeline you're connected 24 hours a day 365 days a year, so you have quick access to help
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when you need it most. over 7 million people have benefitted from the lifeline service. no wonder it has been recommended by over 200,000 health care professionals nationwide. a personal emergency could happen at any time. be prepared. make sure you have auto alert. if you or someone you love would like information about philips lifeline with autoalert call now and we'll send you this free brochure and ask about free activation when you order. call this number. call now. they are so excited. >> well deserved. fantastic. so many people watching around the world. the 2015 women's world cup coming to a thrilling close with
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team usa taking home the trophy. the u.s. beating japan 5-2 in the highest scoring women's world cup final ever. >> sunday's game was a rematch of the 2011 world cup as well. the u.s. is the first country to win three world cup titles. with a hat trick in sunday's match-up it was carli lloyd, she is the star right now who led usa to world cup victory. kate riley has more. >> reporter: the united states have won their third world cup crown. this their third title in 16 years. japan has a perfect tournament going into this match although they found themselves 4-0 down after 16 minutes. carli lloyd scoring the for-ever hat trick at a women's world cup final. >> i dedicated my entire life to
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this game to this moment. everything has come second in my life my fiance friends, family. this is it for me. if you are going to do something and want to be the best you can be you have to sacrifice so much. i wouldn't trade it for anything in the world. >> i always describe her as a winner. she is going to work her tail off and fight for you. she wants to win and you want a player like her on the team. >> she is the engine of the team. she comes up big when we need her. it's so important to have somebody on your team like that who is going to take the reinance get the job done. >> this was the highest scoring match at a women's world cup final. the final score, 5-2. the japanese return empty handed. however the americans can now celebrate in style. they have been invited to the white house and the president told the team not to forget
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their trophy. kate riley, cnn at the women's world cup final in vancouver. >> a great win. >> i love how carli lloyd said she dedicated her entire life to that win. >> paid off. pope francis is on a mission for the poor and the planet in ecuador. he arrived on sunday to kick off a week-long visit. later today he will lead a mass and then meet with ecuador's president. >> he will then go to bolivia and paraguay. he has 22 speeches to be delivered in his native spanish. he is excited to be back in south america. >> translator: allowed me to return to latin america and be with you today in this beautiful land of ecuador. it is just one more
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demonstration of the welcoming character that defines the people of this noble nation. >> the pope's trip has a lot of people excited and not just in ecuador. rose francis looks at how the country has been preparing for the trip. >> reporter: where he goes so do the masses the pope of the poor and the vulnerable expected to attract millions in ecuador, bolivia and paraguay, all countries with large indigenous populations, high poverty levels and environmental degradation. >> these visits signal the way that francis wants the church to be in this world, protecting the poor, protecting the earth. ♪ >> reporter: his first stop ecuador where faithfuls are taking to social media to welcome him in song. in bolivia he'll tour a
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dangerous prison where an inmate on inmate brawl two years ago ended with the prison up in flames and dozens dead including a toddler. and in paraguay, american idol type auditions are taking place to choose the pope's choir. he will visit sick children and an lbgt group. >> francis has been underrated as a diplomat. he is very shrewd. and he knows. he has a feel for the arguments, for the long histories here. >> reporter: do you think he could surprise us with his diplomacy? >> if cuba is any example i think this visit could produce surprises that no one can foresee. he has a skill of bringing people who seem opposed together into some sort of constructive
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conversation. >> reporter: here's what followers are foreseeing a break in protocol that delivers a special message just like the pope's spontaneous prayer at the wall that separates palestine and israel during his trip to the holyland. >> he is bringing together the transcendent nature of christianity but in this world with this world's problems which are so pressing. >> pope francis is resting for the night. on monday he goes to a city southwest of the capital. there, he is expected to celebrate a mass that is expected to attract hundreds of thousands of people. rosa flores, ecuador. chicago's gun violence has been making headlines for several years now, a 7-year-old boy is one of seven people killed over the long holiday weekend. at least 40 people were shot in
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numerous incidents. >> chicago's top cop stood in front of a long table filled with confiscated illegal guns and spoke passion natalie about what he calls a broken system. >> i'm angry. i'm frustrated and i'm frustrated and angry that we're here again talking about another senseless murder. pick out the names. the list goes on and on. this has got to stop. we can put another 10,000 police officers on the street. and what would happen? maybe we'll arrest mr. brown 90 times and nothing will happen. maybe we'll take another 10,000 guns off the street and another 10,000 will fill up the illegal market the next day. i'm incredibly proud of the men and women of this department who go out every single day and do what they do. we need some help here folks we have to fix this broken system.
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>> he went on to say that way too many violent prisoners are being released only to return go back on to the streets to a life of crime. saying he is minister no more the greek finance minister resigned. he was meant to stay on wasn't he? >> he is a maverick minister. we'll be back right after this break.
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welcome back to our viewers here in the united states and around the world. i'm zain asher. >> i'm max foster. let's get back to the breaking
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news this hour. >> greece's financial landscape is rapidly changing. prime minister alexis tsipras is meeting with opposition leaders following resignation of the country's finance minister. yanis varoufakis had said he would resign if greeks voted in favor of the latest bailout offer, that is if they voted yes in the referendum but instead they voted to reject it and he is resigning it anyway. >> and the news of the resignation is impacting the european markets but it's not as bad as you might have expected. the markets are down only slightly. the ftse is down 2/3%. and joining us is a analyst from j.p. morgan financial analysis. explain what the market perspective is. >> the fallout from greece should be very limited. we have seen as we have said
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many times before that the linkages into the greece economy are low. the amount of debt held by private sector investors is small. the amount of bank loans from banks in other parts of europe into greece is also very low. and that's why you are seeing a calm reaction in markets. the exposure is not the public sector but the governments of the eurozone if there is a default in the debts. >> if they lose their money doesn't that have an impact on the likes of germany which will have an impact on the likes of the uk. >> certainly there is a concern about tim pact of the budgets of those countries. but it's quite a while before we know the full scale of any impact here. first we don't know if greece is going to default on every debt it has. it is in arrears to the imf but not to the european central
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bank. there is collateral that is posted against those loans as well that can be used to mitigate the losses but it's a concern for the finance ministers of europe. >> in terms of what might happen next obviously the finance minister going is a benefit for the euro group side. they found him difficult to deal with. there will be some sort of negotiation now. they feel as things moved on as a result of that sack officialrificial lamb as some are calling him. >> i certainly think that we have entered a realm now where greece's exit from the euro is more likely than not, absolutely and the partners within the euro group are looking at containment and what will happen in that
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situation. it just seems that to restart your help for greece requires so much compromise on both sides from such entrenched positions it's unlikely to see that. it's clear why the greeks want to talk about debt relief. the imf said that their debt is clearly unsustainable. but you can see why the creditors on the european side are against that. firstly because of the tactics of the greek government. secondly because the other countries in europe which have gone through similar programs would want the same kind of debt relief and thirdly of course because it might encourage far left parties in their own countries have political success there. so it seems the two sides are so entrenched it is hard to find a compromise to keep greece in the euro. they have a banking freeze right now that is harming the economy and making the collateral of the greek banking system worse and
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causing a liquidity crisis to go into a solvency crisis. >> how do they contain it? the ecb needs to keep the cash flowing into the greek economy for now. the worst case scenario is pulling the plug and watching the economy collapse and the drachma brought back in a short space of time. >> the ecb is caught between doing more which it doesn't want to do. it is freezing the emergency liquidity liquidity assistance it's giving to greece and the ecb is saying it's a rules-based organization and the emergency liquidity assistance was given by the banks. and given the fact that greece is in arrears to the imf. and the loan books are
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deteriorating because the economy is suffering from the current conditions the ecb very soon is going to have to deal with the fact that the collateral is no longer worth what it was. therefore, it cannot afford the liquidity assistance it has given and ask for the money back and the greek banks haven't got it. the ecb is going to have its hand forced here. even though it doesn't want to play the role of the assassin of the greek banks it is a rules-based organization. and it can only ignore the deterioration of the collateral it has already posted for so long. and a recap for our viewers, our breaking news is that yanis varoufakis the finance minister of greece has just resigned. elinda labropoulou is in athens to discuss this. elinda we know that the prime minister alexis tsipras is meeting with opposition leaders right now as i speak. he is in search of a new finance
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minister. do we have specifics of what is being discussed in this meeting? >> reporter: what we expect mr. tsipras to do is to try and get the other political leaders to back him. now that he has this resounding support from the greek people through the referendum to carry on with negotiations and to follow a hard line in terms of what greece wants to push forward and that's mainly the idea of debt relief before he can sign any kind of agreement. he is expected as we understand to ask the other leaders to support him in this decision. and at the moment it's quite difficult to see how the political scene will develop as well because of mr. varoufakis wed that leader of the main opposition party stepping down yesterday. so we expect some big developments there as well. so we're not quite sure if we're going to see the opposition
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maybe all aligning in a certain way, possibly against mr. tsipras or in support of what he's doing. but certainly, we expect that he will be pressuring them to back him in his negotiations tactics in europe. >> do we have any idea in terms of who mr. tsipras might choose to replace mr. varoufakis? >> it's hard to tell at this point. it's likely to be someone who has already been on the negotiating team. but, at this time, it really depends on what the prime minister will decide to do. it's also a possibility that he will bring a newcomer into the game someone that the europeans may be less familiar with and in that way by bringing someone new, refreshing the talks as well by you know bringing a different tone to the talks. it all depends on how he will decide to move next. >> and of course the big
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question is will those banks in greece reopen on tuesday as mr. tsipras has been promising? we'll keep an eye on it. elinda labropoulou thank you for your analysis. also keeping an eye on the markets throughout day. that's where we get a sense of whether or not this crisis is being contained. look at who might replace that greek finance minister as well. >> he didn't last very well there. the death toll is rising after a week of violence that has killed 200 people in nigeria. the latest attacks twin explosions in jos where 23 people were killed and over 60 were wounded. >> one blast happened at a mosque during ramadan prayers and another at a muslim restaurant at sunset as people were breaking their fast. >> we have a producer in jos who joins us by phone. we saw separate attacks in two
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states and in jos as well. can you explain why these two areas are consistently targeted by boko haram? >> reporter: well zain it looks like boko haram has these areas as what is generally called a soft target because consistently these areas have become a hot spot to put up the statement to the federal government that boko haram can still bark and bite despite the president's attempt to see the -- >> and we know that the new president, he said that he is going to be moving the army base to the north. do we know what impact that will have in terms of squashing boko haram? >> reporter: as of now, it doesn't seem to be making much
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impact even though local communities have reported the movement of troops to nigeria and this work with the neighboring countries to cull the insurgency but it is not making much impact as of know because of the attacks over the weekend and some other various communities. boko haram seem to be rising and challenging the military push towards the north of the state. >> and the president has only been in power for a couple of months i guess but he promised a lot. how do the nigerian people what do they think of his approach? how do they think it will differ than that of his predecessor as it comes to fighting boko haram. >> many believe he should be able to get to the root of the
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problem quickly but the expectations are higher. because the nigerians believe that by now, going by what he has said during his campaign promise that within three to six months they expect to see a decrease in the insurgency but at this time it is not happening. >> thank you for the update on the twin blasts in jos and the attack in northern nigeria. thank you so much. we appreciate that. tensions between china and turkey erupt after protests against the chinese government turns violent. we'll have an update coming up from beijing.
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welcome back everyone. china is warning citizens traveling in turkey to be careful and some tourists were
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attacked in istanbul during anti-chinese protests. [ speaking foreign language ]. >> hundreds marching protesting against the chinese government's treatment of uyghurs, a muslim ethnic group in western china. they are banned from worshipping and fasting during ramadan. >> we want to go to our senior international correspondent ivan watson who is in beijing. what measures are in place to ensure the safety of chinese tourists going forward in turkey? >> reporter: well the chinese government is advising chinese tourists in turkey to quote, avoid going out alone. that's one of the precautionary measures in this safety warning that has gone out after the chinese government says some of its tourists were attacked and harassed in these anti-chinese
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protests. relatively small ones that did get a little bit violent? some locations over the course of the weekend. in one of these cases that journalist documented you had ultra nationalists pursuing east asians in one of the main tourist attractions in istanbul. riot police intervened to try to protect them. and then you have this one revealing moment where one of the tourists spoke to television cameras. listen to what she had to say. >> i'm not chinese. i'm not chinese. i'm korean. >> so there you have someone saying i'm korean. i'm not chinese and being pursued by an angry mob. this is again, after a round of anti- chinese protests erupted. some were more peaceful. it is over turkish objections to
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the purr conceived persecution of the ethnic uyghur minority who are also muslim and local bans of the observance of the ramadan fasting. accusations that china denies. >> and turkey is offering a safe haven. ivan watson thank you so much. when we come back hundreds gathered in the english countryside to honor the newest royal on her big day. we'll have details on the event coming up. >> look at that. >> gorgeous. running my own shop has been brutal. but then i got a domain and built my website all at godaddy. now i look so professional i just got my first customer who isn't related to me.
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call now and we'll send you this free brochure and ask about free activation when you order. call this number. call now. the newest edition to the british royal family, princess charlotte was christened sunday at a royal estate. >> the private ceremony was just that only close family and friends attending inside but hundreds of well wishers waited
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outside to catch a glimpse of the royal family. joining us from london george stealing the show a little bit, didn't he? >> reporter: yeah he may just have max. there was a lovely moment when he appeared with -- holding prince william's hand dressed in a similar outfit to the outfit that prince william wore meeting prince harry for the first time. a touching moment. the family looked absolutely beautiful. it was postcard perfect. it's where they celebrate christmas every year and the queen going on this very same walk. kate and william looking so proud of their family. kate looking absolutely beautiful in an alexander mcqueen coat and james taylor hat pushing a program from the 1950s, the same used by prince
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andrew and prince edward. as for the ceremony itself it lasted around 45 minutes and historic touches throughout. they used the same baptismal font that is usually housed in -- and it is the first time that it was brought outside london. and princess charlotte was christened with holy water from the river jordan. the festivities tapped off with tea and cake. and mario testino was brought in for the royal portrait. >> we'll be waiting to see those pictures. thank you for joining us outside buckingham palace. >> thank you for joining "cnn newsroom," everyone i'm zain
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asher. max foster will be with her all week. he is a little bit jet lagged. >> slightly crazy at this point. we'll have more next hour with breaking news out of greece. >> for those in the united states "early start" is next. you're watching cnn.
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breaking news this morning. potential chaos in the world markets. the greeks vote no on a bailout and a short time ago, the finance minister up and quit his job. so what on earth happens now? what happens to u.s. stocks and your 401(k)? we are live. iran and the u.s. closer than ever before. we are one day left before the deadline. live with the latest. the most

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