ferlg all right bud did you thank you very much. if you think about it this was like a day in news that was wrapped antid with a bow, and all of these stories are joined at the hip. chris christie announcing today he's running for president one of the biggest issues new jersey debt and fact that it is fewer than nine time and got greece still trying to get over this hump. prime minister saying that he thinks that europeans will poll and keep greece in the poll. that the president momentarily about to have a meeting with the president joint press conference. country that was in debt. hyperinflation and ills we've seen abroad things have called down but not out of anyone's way to put it mildly. you have chicago right now getting dinged credit rating getting dinged. teacher's union there in a whole heap it have financial trouble.

puerto rico hoping that creditors will take pity and extend repayment plans or loan terms. all of those stories with a common link, money what is owed and bills. what have yet to be paid. first, to the president in the white house peter barnes there with the president of brazil as well. peter. reporter: well hey, neil just release it had this 7-page fact sheet on the meeting between president obama and president rousseff of brazil modern incremental increases in trade to open up each other's markets for more for beef. united states has back beef imports because of a foot and disease among cattle down in brazil so change there is. they're going to be announcing economic measures that will try to expand trade overall we do $1

l be in trade and good and services between two countries. they're going to announce a giant climate change and cybersecurity agreement more military security cooperation but hanging over all of this neil is this controversy from the n word snowden leaks about u.s. surveillance programs turns out that u.s., nsa was hacking president rousseff's phone listening into her conversations back revealed in 2013. she is got very angry about this canceled a state visit scheduled for 2013. to washington over this, demanded public apology from president obama over this. she did not get a public policy. the two sides say that, though, they have settled settle disputg to make up for that 2013 state visit that was canceled expect that at the press conference. one of the reporters from brazil

will probably ask the president it be this. [laughter] [laughter] neil back to you. >> i would imagine it would come up. i remember she skipped out on meeting to him when the last kurd they say bygone they went to martin lt. luther memorial on a day that we have debt front and center in political terms, international term local city terms like chicago, big commonwealth like puerto rico. big countries that are getting increasingly smaller like greece. read right now charlie gasparino steve lonegan and jamie weinstein first on chris christie dealing with budget, money matters, he macs it compel ling case but it is in his fate. >> we should point out you think he'll make this case he dealt with a legislature.

they were democratted and blocked his proposalled reforms he saidty half. imagine what i can get if i have a republican congress. that is where he'll make the pitch. most difficult he's a great politician. this was a great spinach hit all of the speech not hyperbole. >> and off the -- really good he didn't sate word rapist which is a good thing. very good thing. here's where he's going to have problems it is the money -- the money is not there. tim cannot finance this campaign by himself. he has to reach out to broader gop apparatus. based on what i hear that is locked up between marco, and jeb bush. >> someone who ran against him for that republican gubernatorial nomination years back, this notion that he wasn't all that he said he was or appeared to be.

an when it came to debt, you you said we have nine downgrades in new jersey, debt is worse than that was when he took office. maybe to charlie ice point you can argue legislation in another party's hand. but he ultimately gets the grade. what grade do you give him? >> a big f. neil it is iothth ironic to point to ending the chart ire inport bank that this governor who has led the nation in corporate subsidies in correspondent given the bailout and subsidies as jon corzine yet despite in massive spending of tax dollars seen new jersey drop according to tax foundation nonpartisan organization new jersey now ranked 50th in the country for business environment. that is down from when jon corzine was governor according to the john locke conservative leading nonpartisan foundation, the john locke foundation ranks

50th to worst fiscal pots policy in the country. what we're witnesses in new jersey -- >> what do you make of the senator saying -- didn't get half the loaf. >> he was dealing with a lot of debt when he came into office still dealing with the same debt and still dealing with liabilities. he's tried to address them and go to american people say i tried. he's guys pawlgt me tooth and nail but first in the country to take it on. scott walker can say not so. john kasich can say not so. they will argue that they got the progress that he didn't. >> yeah and a lot of those guys did have to deal with their democrats chris christie did cut spending 2 and a half billion although he did rank back property rebeats but his approval rating he has to carry into the president cial stage a lot of baggage from new jersey a

30% approval in the state as a new low. those who would vote for him in republican primary only 55% disapprove of him. >> just running new jersey, though, anymore. >> christie weighs unemployment tax and gone through the roof. >> and ten closed loopholes -- but go ahead. >> fox news poll 30% of voters would never vote for chris christie that was second only behind donald trump this is before donald trump jumping polls optics are his problem. not a money issue, but being photographed and being seen with president obama, being seen as the individual -- republican who lost the presidential race to mitt romney. it hurt the republicans and he likes to point his finger number two, and he's very -- >> control property taxes? >> the governor can -- jersey most powerful in the country. >> i think it is --

[inaudible] >> christie with every single economic ill in new jersey is insane. >> worst thing in the country. >> give me a break. >> worst country in the country? >> executive of any governor in the country. most -- [inaudible] >> liberal to new jersey state supreme court. state supreme court. >> you've got an a legislature and talk to george pataki about this who i've been critical of as well and very difficult to do these things this guy makes it sound like you can snap your finger. a problem -- neil. >> we're missing point, a key point. >> why did corzine whftion he governor? >> left in '09. >> a little history. [inaudible] in new jersey than before. >> you understand we have a -- >> comparison should be better, right? >> if you're talking about all of these problems --

the state economically. like on wall street. >> hang in there mayor. jamie weinstein i want you in here. liberal goes on and rants. while -- i want to say that the toughest road he has to follow now is that top ten. he's got to get in that ten -- top ten candidates to be invited to a deability because he's compelling debater say what you will of him. effective communicator you can accept or deny a lot of what he's saying but he might not get that chance to stand out what do you think? >> there's no question that he's a formidable critical talent and needs to get on that debate stage. more than anybody else on that stage he can make audience or viewers scream up and scream right on, in that kind of newt gingrich moment from south carolina where he takes on media or fellow candidates. so very important to get on that debate stage.

>> what if he doesn't? >> if he doesn't get on that stage? >> done. not on debate stage that is performance in order for him to rise on polls. rise in new hampshire and perform on national tv. >> living in new hampshire -- in the next week. and that is state that welcomes spicy characters, welcome it had eugene mccarthy so sate that can be forgiving to those in media buries. >> absolutely. >> it can get him through next couple of months but i pointed out the photograph with -- president obama and what happened after hurricane sandy. because you look at that 2% in the fox news poll, you look at how people feel about him that is one of the reasons that -- [inaudible] >> neil -- >> saying because my husband is skinny that is not nice. >> fitting a you don't like -- >> i've said this all along people in the south and people

in the midwest not like the beloveed from the northeast and they have two of them. only hope that donald trump is -- [inaudible] >> like the -- i couldn't care less about the south. >> they're going to -- [laughter] like being equivocation of jeb bush. one of the problems that jeb came out. >> we're monitoring this, president with the -- president of brazil announced environmental agreement they're going to be selling it out going in and out of this. particularly q and a time of a brazil forgives the president for spying on her a couple of years back. go ahead finish that. >> listen, that was what you saw christie, by the way, i'm sure that gentleman, mayor whatever he is christie caused financial collapse in 2008. >> not what he said. but not bad. >> just think -- >> new jersey.

>> you live in new jersey. >> i live in new jersey. >> the country is not better. >> lonegan -- >> the point is my point your ratings are going up right now. [laughter] >> the poll of southerners. best retail candidate is right there. >> what diewfng that that say what you will of the governor and all under pressure -- >> if you want to get up and ideal at people new jersey is worst economic condition in more than a decade. more than two decades worgs than jon corzine period. by the way, governor did not need legislature, to hand out billions in corporate subsidies and corporate crime. >> someone is a hater. >> united states, though -- really -- >> chris christie big policy with social security form. well tough to stand on that when he didn't through state pension

reform. >> that is where if you're going to talk about tough love and propose with teachers and then a deal for whatever reason. >> social security reform like political strict -- can't go nowhere. >> a stage of someone won the nodges coming together in washington that is not -- that is not beginning to full over the -- he needs to woo the gop primary. how many campaigns? >> a love letter new jersey. a love letter to jersey. [inaudible] >> you were alienating young people now the entire south. i'm -- >> subsection of the poconos. >> that was a good speech no matter which way -- sheer power. >> look at the time. >> oh, that drill. >> hang on we're going to go to a quick break here. the president is with the president of brazil brazil tharkd ring a bell only the did the environment.

remember back in 1997 when that country almost went belly up on better than $100 billion worth of debt we reevented their currency. now some people are saying can we do same for greece? no bottom line we cannot and couple of years since we were spying on them and tapping their phones. putting this together, more after this. you're driving along,

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take a chill pill. follow-up to the two announcing this increase their share of the so-called renewable energy market and electricity generation and each committed to up it by 20% by the year 2030 this is just music to charlie gasparino's ears back with him and leslie mcdonnell. >> fall asleep on that. >> jared leavy on this. this is news on a day like today especially to the q and a we're going to listen for a couple of things. one mr. president is our president. what do you do about puerto rico, it has a ten cup in hand and beg for relief from borrowers that would include us by the way. the other would be on debt issue brazil no stranger to debt it was, you know, not even a couple of decades ago on the brink and defaulting and question rescued that is american banks came in and rescued brazil and sort of reinvented currency seeing with

grecian right now. that is something we're following closely. but jared are comparisons out and -- is this a sign that look at where brazil stands right now standing next to president of the united states. respected less than 20 years after being financially vilified, what do you think? >> are you trying to make the comparison to greece? is that what we're trying to do here? >> my producer was talking to me as you were talking. [laughter] >> wow. good for you you can go now. go ahead. what i'm asking is -- brazil is a sign that even the most dam in addition can come back. >> brazil to greece talking about texas versus, rhode island completely different. and it turns -- >> l you and try to answer that? >> i would love to. i think that greece is not going to end up in as good of a place

of brazil. and by the way right now in any little financial world the instrument price on a default are pricing out at 91% chance to go into a full on default right now interviewers, and i think it gets -- i think it gets worse and greece is going to have a lot of reinventing to do 20er years from now perhaps. >> interesting how debt is now become a front and center issue. great -- >> done it politically could be an issue. others governor rick scott maybe less of an issue. >> take steps. >> you can. pay new jersey and puerto rico. >> not even close. what do you make? >> new jersey's debt is three times state gdp that is pretty bad. listen, you're right that it is front and center how we handle it. you know what, issue is more

important now because the central bank of central bankers said that central banks around world have run out of bullets this is where rubber meets road. central bank around the world help it had governments around the world outrun entitlement spending. >> we need to pay attention to greece because brazil is next trouble spot. brazil has surge debt right now. they have soaring in place and economy that is going to contract this year. as their interest rates go up, their central bank has taken interest rates to 13 and three quarters percent. >> pay attention -- >> how do you know if it is not? >> i don't think greece or brazil is -- >> saying that only time you care about -- >> ignoring this debt worldwide? ignoring chickens coming home to roost. >> worry when rubber meets the road is when country at hand is -- >> our job is italy -- introduce them before the rubber

hits the road. >> greece is not. may lead to italy but that could happen puerto rico 21 states in this country. >> you know puerto rico -- [inaudible] >> to be the fix for puerto rico when they fixed new york city not a bailout. >> not choired about it. all right finish up. >> puerto rico is 42 billion dollars i think is their current debt right? by the way in terms of greek bonds mernls only own 14 billion of greece, and systemic and problematic three times size of greece in terms of america but yeah. >> kidding here to make a point that if you were to show a little graph that symboled across the globe, we have more little brush fires across the globe than we had 21 of the states site it had that are playing funny and loose with the math including new jersey. that are masking the seriousness of their liabilities, and as a

result kicking can down the road and that is what we're getting more of these little tires. brazil is among countries with those that we don't see it now but -- >> it can be systemic in sense of it doesn't have to be that much debt. it depends on who is laid on bets with leverage around the the world. >> charlie just whispering. >> banks are leverage with brazil. and then that is not what i said. i said who has laid on bets with leverage because and something happening in greece maybe the euro soars request greece. let me finish. what is hedge fund and blows up you just don't know. you don't know. [inaudible] >> there's so many complacent just brazil and greece's problem. >> they're trying to help us.

>> sheetion here, she cares for people who want to know what is up. and you don't believe the fire until you're on fire. >> at this point -- she's screaming fire in a crowded movie theater. >> okay. >> i've said repeatedly i've said repeatedly that the european banks said repeatedly that european banks do not have exposure to greece said it over and over again. >> exactly. exactly. lizzy -- >> mutual funds may have exposure to puerto rico. >> let me finish. let me finish. 180 mutual funds. i like that you cite paul volker. >> on this show loose has delayed restructuring of government and bank and systems when feds start to -- you see it. >> before this guy was pouncing

on me. i'm just saying this global debt issue in isolated cases one more severe one a different story than other, it is everywhere. it is everywhere. global unfunded liabilities are sited we're getting to that point where chickens are coming to roost to chicken to deal with it and charlie chicken for refusing to acknowledge it. and across -- can't lun technology at me. >> so derivative of the problem you know neil here's the thing right we have a delicate line -- >> [inaudible] >> listen, listen. we need to fund happening in japan. japan forcing their banks to buy their bonds right and then they force the banks because they're not yielding anything. banks sell insurance on bonds. it is crazy. so basically it is like this, like you boy a bunch of house like i'm not getting enough income but in a buying by insurance i'm going to sell buyer insurance so if something happen down the road having friends down, i have to pay and that is --

we're looking at -- 2008 pal. >> president rousseff. >> that is not happening right now. one thing that makes a hypocrite i know he's your friend. but what makes him kind of a hypocrite he was part of an administration that did -- basically caused the growth of this country to stagnate. >> did it work? >> groat of this country to stagnate. >> anybody -- >> obama. >> volker he was obama's -- citi group was first bankruptcies in three in last two decades. >> when he turns arptd to talk about how all of these states are have been problems one of the reasons they have unfunded mandates is gdp is growing, so tepidly because we have administration keeping on more and more big government. >> i want to pass to what is beginning on brazil rousseff meeting with the president apparently getting along --

just fine after the whole thing years back. toured martin luther king memorial but at a time when brazil debt is at highest level ever. than it was during the fiscal crisis 20 and a and a half percf local currency debt is now in foreign hands and now considered by moody to be dangerous or downgradable. ratings full thing don't think it is about the debt. >> it is dangerous because you see what is going on in greece, if you have -- abandoned, abandoned the emerging let me just finish before some other dude talks over me. investors abandon the debt their interest rates are going to skyrocket even more than they have, and then it becomes untenable. you know why president is in the united states they're desperate for private investment in that nation. going to say --

>> it beentive today. >> by the way she canceled that state visit a few years ago, well they were going to do another one next year. and that was too far out in the future. she wanted to come and meet with the president sooner than that. that is why she's here today and not -- in 2016. >> big etion company state run press is basicallying their budgets and they have a corruption scandal there. they do need investment in brazil and this i think is the first visit bit brazilian president since the nsa spying scandal. with allege it -- >> report on the show here that they have a five year deal -- in the process. so at least trying to do right thing but a sign that you were saying about slowdown that is gripping this country to have the end of the recession technically. >> it is. with all of this -- >> and sky skyrocketing rate. they have to read milton friedman more and bring in some,

you know, economists to understand how to grow an economy like we need to do. >> and these are pretty -- >> one thing i tell christie. >> you get 4% like a magic norming for republicans. >> flooded with consumer credit like cheap and easy money she actually cut taxes and a raised spending which is, though, worst of all april. >> we should say dealing with a corruption scandal an record low approval rating. >> record low oil prices. point to her pool of numbers say it could be worse. it could be worse. >> oil prices plummeting is really hitting their major company. and not only trading partner, china, and china is in the durchs. >> right, okay jared you were saying. five years greek has taken austerity unemployment is overt 25%, and they were taken austerity measures brazil went other way. apples and oranges, debt ceiling like you said i think is the key

and it is interplay with all of the these different central banks other forb investors holding other debt it becomes so complicated that behemoth you're in a lose, lose situation. >> i think we have to quake up to the reality that debt is real. that the bills are real. that obligations are real and our ability to pay for them. it is gone. >> single single-handedly destrd this market today because all of that debt stuff. market is gone now. >> a real problem or not? >> i think there's ways to solve it, and there are -- >> your way out of it. grow partially. >> been a problem or not? >> for us -- we're the best kind in the room. >> called tallist midget in the room. >> we can prpct our way out of it. we snip and -- dismiss countries like greece or what is beginning on in puerto rico because we don't have the same because we can print our way out of it. a cavalier --

>> we can sprint and print people think that is okay. japanese is largest holders of debt. >> up to the rate. >> you need economic growth and does solve a lot of problems but ims solution to greece. they're angry about this solutionist tax hook. hen house deco chamber about tax hike it is fixing all sorts of economic problems is so wrong you look at ireland with fixing its house request tax cuts. >> not an appearance code you don't mention our own. >> i have to mention -- a perfect example. [laughter] >> l enough about new jersey and italy. >> god forbid. god forbid. they almost go together. new jersey and italy. >> wonderful. >> by the way germany angela merkel under right now, and of course been rumored talk of a two-year odd deal and escaped

hatch for greek prime minister to say face on all sides. apparently having nothing to do with it. she's saying that before the plan greek referendum is conducted, that is big sunday vote i think lizzy going to do that she will not negotiate on anything new. she said further that also applies if offers which cannot be classified and more detail already made is not offered today only the table apparently we hear from groax they say give us a two-year moratorium allow us to organize their debt. that is something new and merkel said it won't fly. apparently she's the tough gun here in saying no, no, no. what do you make of that? >> finance minister backing her up saying no and people are saying no quare not going to have people of germany paying greece to retire early. >> what do you make of greets we need us more than we need you. >> political implication from russia and china stepping in russia has been eyeballing greece to bolster its position and certainly with greece being

a nato voting member and economic sanctions against russia you have to believe that phyt season watching this very closely. >> she can fear that he can ultimately run to. right, just runs to russia. germany is big breadwinner why give to the country when they wngt been able to realign a doubling play there. russia is an issue. but i think for miss merkel key is protecting res of the countries from, you know, what has been a big draw. >> she's a politician and she's a pragmatic politician and people of germany are sick of greece. and even the french have i feel like greece -- >> talking about this for years like -- like -- >> what happened as they were getting -- >> let them go. >> 5 million people. >> bruce richards is money manager bonged measure on wall street with anthony over the

weekend, and he laid out kind of what the ramifications are. dier for greek people you're talking about food not being available and country shutting down essentially from economic standpoint where people will starve without some sort of a relief. that is where we're going with this. and you know maybe they think that the german will blink and come to their rescue but economic ramifications, you know, for the people, itself -- >> is bad really bad. they're dier. >> greece imports majority of its food. so that is where it gets its food from is the imports and you know, if they lever the eurozone the drop gets devalued 50% down. economy shrinks by 10 to 20% half down by 2008. they qowld have to indeed value their way out of that problem. >> buy and draw -- >> and so you know creditor doesn't -- >> says when you have debt in

euros and then try to pay them back. [inaudible] >> i do want to go back because reporters are asking yeses now they might be on subject that we're monitoring we don't want to bore you to tears if it fall apart we'll leave it. but see what they have. >> appreciate it. >> as i sir, an agreement with , is there still a number of unresolved issues with iran particular the face of americans -- [inaudible] americas say that the you and more administration say that you're continued to raise the imprisonment and disappearance of these individuals, these americans? but still you will sign likely an agreement with iran and those issues will remain unresolved. what do you say to the families about how you will deal with their loved ones? and if i guess the bottom line,

do you find iranian leadership trustworthy and madam president welcome to the u.s. you cancel the previous trip to the united states following the snowden revelations -- need a translation? >> loud earl. a little loud earl. >> certainly. you can cancel the previous states following the revelations of edward snowden of nsa spying on you. are you still troubling revelationings and have you received aa i assurances and satisfied from administration answers. >> first of all jim with respect to -- u.s. citizens, u.s. persons who were held in iran, this is something that we continue to push hard on irrespective of the

nuclear deal. a top priority to make sure that our people are treated fairly. and on the face of it, in the case of these individuals who have been held, they have not been. and they're not being afforded the basic due process and legal right it is that we have forward visitors to our country. so we're deeply concerned about it. we spend a lot of time pushing on it, and we will continue to do so. and there's no -- lessening of this sense of urgency so when i talk to families, we remind them of the fact that that is a mission that will continue and has been worked on consistently throughout their captivity. with respect to larger issue of whether i trust iranian regime

as i've said before, there are deep seated disagreements, and divisions between the united states and iran. and those aren't going to go away overnight. the goal of the nuclear negotiations is not to rely on trust. but to set up a verifiable mechanism for iran to obtain a nuclear weapon. and john kerry wrow right now is there along with one of the top nuclear physicist in the world. they're deeply engaged in negotiations. my hope is that they can achieve agreement but my instructions to them have been extremely career. the framework agreement that was

established is one that if implemented effectively and codified properly, would, in fact, achieve my goal. which is iran not obtaining a nuclear weapon. there has been a lot of talk on the other side from the iranian negotiators about whether, in fact, they can abide by some of the terms that came up in lusion. if they cannot, that is going to be a problem. because i've said from the start, i will walk away from the negotiations if, in fact, it is a bad deal. if we can't provide assurances that the pastways for iran obtaining a nuclear weapon are closed, and if we can't verify that, if the inspection and verification regime is

inadequate, then we're not going to get a deal. and we've been very clear to the iranian government about that. and a the good news is that our p5 plus one partners in negotiations feel exactly the same way. so, you know, there's still some hard negotiation to take place. but ultimately up to iranians to determine whether or not they meet the requirements that the international community is set for to be able to fairly and accurately and king consistently assess whether or not they have foreclosed the possibility of obtaining a nuclear weapon. and given past behavior on the part of iran, that can't simply be a declaration by iran in a few inspector's wandering every once in a while but that has to be a serious --

rigorous verification mechanism. and that i think, is going to be the test whether or not we get a deal. [inaudible] >> yes it is true. yes it is true, i just counsel -- translator: previous trip to the u.s. at that point in time. since then, some things have changed, and the change is particularly due to the fact that president obama and the u.s. government have taken several occasions that they would no longer engage in intrusive acts of friendly countries. i believe president obama, and further mother he has told me that if he needed, should he ever need nonpublic information about brazil he would pick up

the fen and call me, so yes i'm certain that the conditions today have become very different. [inaudible] translator: at this point, at this point i would like to call upon general with the global news. network -- >> brazil is playing somebody else then maybe i'll -- if they're playing the united states i'm sorry. >> not against the united states. mr. president, you were talking about a new relationship with -- [inaudible] and president just mentioned when counsel has matter of trust in brazil is also in the middle of vary political and economic

class, can you trust one another in this moment to be at this chapter? >> well my relation -- >> sorry, go ahead. >> sorry -- >> madam president as a global player, leader in the u.s. with a regional play. how do you reconcile? >> well i'm actually going to answer in part the question you just asked the president. we view brazil not as a regional power but as a global power. if think about free economic forum for coordinating between major economists, the g20, brazil is a major voice in that. the negotiations that are going to be taking place in paris around climate change can only succeed with brazil as a key leader and announcements that have been made today about their goal on renewable energy is

indicative of brazil's leadership. you know, brazil is a major global player, and and i told president doma last night that the united states as powerful as we are, and as interested in as we are in solving a whole range of international issues, recognizes we can't do it alone. on issues like global health. we're not going to succeed unless we're working with brazil. and other major countries so that we can identify where there might be outbreak of a disease, how we prevent it from turning into a pandemic if we want to be countering terrorism on making sure we're reducing extreme poverty around the the world all of the major countries have to be involve in the that process. and brazil we considered to be

an absolutely indispensable partner in these efforts. with respect to trust, i will say that, you know, president and rousseff have had an excellent relationship since she took office. i trust her completely. she's always been very candid and frank with me about the interest of the brazilian people. and how we can work together. she's delivered on what she's promised. when we met in panama we discussed for example that defense cooperation agreements that were just mentioned. she got those through congress, as somebody who knows something about congresses, that i know that is never easy. so for her to use political capital in order to get that done i think is indicative of the kind of reliable partner

that she is. and so we believe that this, this meeting that we've had this week builds on a series of steps that continue to deepen cooperation between our two countries and still differences occasion. but that is true with every one of our close friends and allies. you know, no country is going to have identical interest but always be some frictions, but our common values, the strong people, the people of relations that we have, the fact that we are the largest countries in the hemisphere with similar histories, i think all of that means that we should be very strong partners for years to come. [inaudible]

translator: well i believe that part of my answer was given my president obama and i would like to thank him for that. but i would still like to make the following remark, countries do go through crisis, and difficulties just natural. and countries experience difficulties or crises should not entail any lesser growth for any country especially because a country can only be said to be a great country if it is able to successfully overcome difficulties. that applies to countries, to people, it applies to everything in life. once braveness to overcome difficulties with challenges, face and sustain commitment to people and country. it also applies to relations. with countries such as the u.s. and the rest of the world. these are essential relations. i think brazil and the u.s. have a great deal in common.

we are two countries that have a hall mark in our hurst. something that we actually had to height to overcome. i'm talking about the blemish of slavery. we have large black populations in our two countries. we're countries marked by a very significant ethnic and multicultural variety in our population makeup that is a major asset wonderful heritage in our population. same for the u.s. we are all two strong democracies brazil, just is the case the united states by even congratulated president obama for having overcome the crisis that this country back in 2008 and 2009 brazil will overcome affect of the current crisis that strikes brazil, and we will do so decisively with great sense of commitment. and more than that we will not

only have growth. but we will uphold and ensure continuity of all of the gains and achievement that we have established in the past. 12 years -- and course of the fast 12 year website and we will make sure these gains multiply into the future we want to truly build a precome to inaptly middle class country. i think theaforts -- the effort is a gain and must fight to preserve those gains. rks thank you mr. president i hope you don't mind if i ask a multipart question. first one being on greece i would be remiss if i didn't ask about the prospect of a financial crisis in europe and just in layman's terms in lanage that americans can understand, i want to ask you simply is a financial crisis in greece capable of raining down global economy, and separately, sir, i wanted to askout about what some are calling your best week ever last week you had two supreme court decision

supportive of affordable care act an of gay rights you also delivered a speech down in charleston that was pretty warmly received. it seems that you have built up political capital to remaining month of your presidency i'm curious how you want to use it. what hard things do you want to tackle at this point? and president rousseff if i may ask you extended invitation of the president to join you at the olympics in rio necks year. the terrorist group isis has shown a willingness and capacity to carry out terrorist attacks around the world. what preparations are you making to make sure that the olympic games are safe and are you concerned about that happening in rio? thank you very much madam president. >> on greece this is situation that we've been monitoring throughout the year. as i think most people are aware, there has been an ongoing crisis in greece dating back to

2009, 2010. and it is something that i've been deeply involved with periodically working with our european partners. it is an issue of substantial concern. it is an issue primary of concern to europe. essentially what you have here is a country that has gone through some very difficult economic times. needs to find a path towards growth and a path to stay in the eurozone. and what we've been encouraging both the greek government and our european partners to do is to continue to negotiate and find a pathway towards a resolution.

it is also important for us to make sure that we plan for any contingency. and that we work with european central bank and other international and institutions to make sure that some of the bumps that may occur in the financial markets and that have already occurred are smoothed out. in lehman's terms for american people, this is not something is that we believe will have a major shock to the system. but, obviously, it's very painful for the greek people, and it can have a significant effect on growth rates in europe. and if europe is not growing the

way it needs to grow, that has an impact on us has an impact on brazil thoadz are major export markets. and can have a dampening effect on the world economy. it is something that we're monooring to and something that we spengdz a lot of time on. jack lew has been on the phone consistently over the last several months, i've spoken to my counterparts encouraging them to finding a -- tap towards resolution. so it is something that we take seriously, but it is not something that i think should prompt overreactions but so far i think markets have prop orally factored in the risks involved. in terms of my best week, now my best week i will tell you was

marrying michelle that was a really good week. >> willing to best week thing but important to point out two developments in this press conference for those who have been following greece that the president said it is really a plan an and issue for the europeans. went on to say it is important that a plan be put in to place for any possible contingency that he's encouraged both sides to continue to negotiate towards a resolution. he thinks that as this has progressed it is important to keep in mind that the world kind of moves on. and that this issue will -- a substantial concern for the world again is primarily a concern to and for europe. similarly on the issue of iran, he said that he would be perfectly willing to walk away from a deal if it is seeming like iran does not meet goal of blocking tehran's past to block access to nuclear inspection sites. that would be a deal breaker in his eyes.

so he would walk away from a deal that does not include that. but on greece, a lot of people have wound ertd what will our role be in that? charlie gasparino he seems to be saying very little. >> well, he's -- basically given the wall street view that i gave the you yesterday which is that our banks are -- have five years to figure out their exposure. this is where we get the blowback and if our banks counterpart risk with the greek government and take huge loss it is that hurts our bank and economy, and that is just not going to happen here. >> i think also what he's saying and you can follow-up on this, this notion that right now it seems to be contained ewe unique to greece for now. but all bets off are the contagion as such that is builds and then exposure building with it. >> markets have factored in risk so far that a president would comment on the market. and comment on market behavior.

because it could come back to -- could come back to well he could come back to prove him wrong but also point outlet europe keep groarkting with grogs and weigh in and stand ready, as need be. but -- it does your problem. >> to say that i prefer them to stay in that eurozone and that club, and rumors that he was willing to throw out possibility that lend rs maybe cuts down on debt that country owes or frif some of the debt he didn't spell that out today but this notion that the u.s. would not be in their interest. our interest. >> when they tell greece we know was in trouble in 2009. white house, president hasn't veered from that position. almost as if, though, greece is interrupting the president's remaining agenda. it is iran, it is climate change. it is trade.

so i think what the president is very in his comments here, and i think that climate change is something he's brought up with the brazilian president right now he's not right now seems like a lame duck president he's coming in with a 50% new approval rating. >> that was last week of his -- psmght yeah. >> estimates he has to be thinking please don't mess up my a% i'm a domestic president. >> touching on this south carolina development right now. let's listen in. >> i think is always the start of progress. so in many ways last week was a culmination of a lot of work we've been doing since came into office a. office a. how do i spend whatever political capital that i've built up? you know, the list is long, and my instructions to my team and my instructions to myself have always been that we're going to geez every last ounce --

of progress that we can make when i have the privilege as long as i have the privilege of holding this office. we announced overtime rules that i'm talking about more this week. that is going to give a raise to 5 million people potentially in this country. and i want to see if we can get bipartisan work done with congress around rebuilding a infrastructure, brazil just talked about their really building of highways and roosdz roads and ports and bridges and we need to put people back to work there. i am really interested in the possibilities, the prospect of bipartisan around the criminal justice something. something that i think directly speaks to some of the themes that i mentioned on friday, and we've seen some real interesting leadership from some unlikely, you know,

republican legislaturers, very sincerely concerned about making progress there. i want to keep on making progress about job training and making sure the idea of two-year free community college starts taking route. the list is long, and what we're going to do is just keep on hammering away at all the issues that i think are going to have an impact on the american people. some of them will be left undone. but we're going to try to make progress on every single one of them. and i've always said in -- you know, one time of things i've learned in this presidency; is that true are going to be ups and there are going to be downs. but as long as my focus and my team's focus is on what is

going to make a difference in the lives of ordinary americans, are we going to give them more opportunity, so that they work heard, they got ahead, are we going to make this a more collusive economy, a morin collusive society, a more fair, just society. if that's our north star, and we keep on tacking in that direction, we're going to make progress. and i feel pretty excited about it. so i might see if we can make next week even better. i love press conferences. it's my press team that's always holding me back. [laughter] i want to talk to you guys every day. neil: all right. guys, we are just learning as the president is speaking, there's an agenda of what he wants to do in the

next 18 months or so of his term, puerto rico has just made a final payment on the $900 million short-term learn, which is a bank -- we're not told who helped him out or what the final payment was or the attempting teaser rate. nevertheless puerto rico lives to fight another day. also the president as you know in this joint press conference with the president of brazil has indicated that he's willing to walk away in a deal that does not include inspection, i'm sort of getting the gist of that, as you know that has extended to july 7th. we are separately learning right now that that is the iea, to say that iran is showing some progress and iranian stockpile by june 30, that would be today, to a level required under the nuclear deal, that is the one we are acting under now, that

sets the stage for the one we ultimately want to sign for later. so the iea says, well, at least in the broad parameter of things, iran is doing what we wanted it to do, and now the president is saying they better follow up what i wanted them to do, and that is to allow inspection of nuclear sites or stockpile locations. but i believe liz macdonald, that has been the bug here. who defines where that stockpile is or those stockpiles are? iran says these positions, these lo locales are find. >> and whether there's 24/7 access. neil: yeah, no that's not the case. >> time and again you see the president's agenda being interrupted by iran, china, and russia. and i think that this deal goes through, it's already israel has broken away from the united states over the iranian talk. arabian partners in the middle east have broken away from the

united states because the president's move on iran. i think the world order is vulnerable because of the iranian talks right now. neil: okay. by the way, on greece today, for those of you who just tuned in here, he is confident, the president is confident that it will not have a major shock to the system. this is europe's problem, we're watching it, we want to see that europe remains in the euro zone, so all the right things we want to hear. >> yeah. and i should point out very quickly on president obama of his handling of the economy, but on march 2009 he said something i thought was unprecedented. he said buy the market. he said i think that's a buying opportunity right now. neil: you know, ronald reagan never said that. >> never. but credit but he's right. the market went from 6,000 to where it is now. >> yeah. but then you get drunk on thinking he's always going to be accurate. . neil: you're right.

>> qe and everything else. yeah, he who -- everybody knew they were going to do qe. >> the markets properly factored in risk, so bay buy, buy, it went up 34. >> remember we were down how many today. >> when he said this, we were already up -- neil: yeah, absolutely. i want to add that remember when the first tar package failed and congress put it down in the middle of the melt down, we went about 77 points, the idea is revote on that package and you can avoid a market blood palate. and the they did come back, and they did vote for it, and then the dow would go on to slide. >> another 6,000 points. and lots of reasons. . neil: absolutely my point is why anyone in president or that authority should be embarrassingly ping stuff on market. >> i agree with you. but what president obama said then, though, -- and that was in march, remember?

. neil: true. absolutely. >> he basically told the american investor that we're going to stimulate. neil: what do you think they told him today? >> i think he's absolutely right about this. . neil: he's trying to calm people down. >> he's saying very careful because his words were so carefully chosen. neil: very carefully. i do want to go in greece to ashley webster there, of course they have this limit of how much you can withdrawal from your bank account every day, but as ashley pointed out this morning -- of course he hasn't slept, but he's been pointing out that the people have been very orderly about this, and as you see we have the president of the united states that the greeks can work this out, greece stays in the euro zone, i don't know if that ladder part is the because i amie, behalf what are you hearing there? >> last night we had a huge rally that was the no group, and if you just pan across, tonight is the turn of the yes group, the pro supporters, the

who have been chanting at least the last hour, we want to stay in europe. and you see a lot of greek flags, and you're also seeing some euro flags as well, under a sea of umbrellas, certainly not dampening the crowd, we know they have played for a temporary loan from the imf, and also a comment from the icb maybe saying this isn't a default, it's a delay. i'm not sure about that, but time is -- there's still time to make that payment to the imf, but i doubt very much it is going to be paid unless there's a last-minute deal. and we are getting word that there's last minute hand ringing in small details whether the greek government can come to in terms of these euro creditors and their request. so we understand that the euro finance ministers are in a tell conference as we speak. so it all comes down to the

fine details and still no word of any deal. can it be reached at the last second? the way things are going now, i would count on it. but the people here tonight in front of this greek parliament building, sayer we are a part of europe, we want to be a part of europe. as one banner says birthplace greece, but my homeland is europe. i'm wondering if they're happening all of this in the government right now. >> neil, just speaking to what ashley is saying, what's key is what the european central bank does. in other words, does it expand its bond buying? i mean that's where bad bonds now go to die. is growth is at central banks, they're thank you, your honor warehouses. so if the ecb steps in and broadens the buying program and greece problems really cracking up through the euro zone, that's what's going to be key to calm the waters. neil: calming the waters, guys, seems to be the essence point. keeping greece in the club.

what happens if greece leaves the club. >> well, it's going to be very bad for the greek people, and i think that there is a template to dealing with this. it's what tim and paul did unartfully i might add, but possibly illegally if you talk to hank greenberg of aig during 2009. you go in and you buy the bonds of italy and greece, italy, spain, and why is that? because you're taking the money and you've taken bad bonds off the books of the banks, or potentially bad bonds. italy has not defaulted yet. . neil: that discuss whether it's a 1987 crash, the crash with the failed ual in 1989, the russian -- long time ago. you always hear leaders say something to what president obama said about greece. that the under lying -- the

under penning are fine. in other words, we're confident, we can move forward. and obviously that's what they have to say. but we've learned again and again sometimesments surprises pop up. >> they were not saying that in 2009 really. you got the happy talk out of the banks, which was discounted, while hank paulson was freaking out behind the scenes. i think freaking out way too late. neil: no. i'm saying in the series of the bank rescues it started with president bush. >> right. neil: the catalyst was fear not the under lying system is fine, the foundation is fine. are we making that or hoodwinking people into thinking greece, i grant you is a very different situation, global debt very different situation. but this is not quite the little anomaly. >> no. i agree with you. and under our under lying system was a lot better. it's easier to bail out banks than it is countries. neil: right. >> and the southern tier of the country zone is you have

concerns that you are not capitalist. these are not entrepreneurial countries. you know, why despite all our debt people want to lend us money? because we've got silicon valley, we've got smart people all over this country starting businesses and grow stuff. you don't have that inity left knee, you don't have that in greece or spain to the extent that's needed to extend their welfare state. so that -- bailing that out is different than bailing out city group, bailing out city group as you buy the bad assets, you lower the interest rates, the bond is going to make a lot of money. this is cultural. >> no one wants the greek people to suffer. but if you let greece go and go back to the -- and he said this we would let greece now compete with croatia. neil: yeah. >> which was a vibrant econom. neil: they've wrapped up here,

by the way, the brazilian president did admit the big elephant in the room, and that's the scandal it seems to pile up and the scandal, the large energy concern there. that is even linked in some of the administration and become one of the big reasons why her popularity has plummeted, that they acknowledge it, they see the severity of it, and they're looking to address it, and i think as you pointed out earlier on in this broadcast, that the company itself is taking great efforts to not only clean it, but cleanup its balance sheet and debt by dramatically can you get back its overall budget. but back to your point on greece. >> if you want to send a clear message to spain, to portugal, to italy, you don't let them not take the pain and just give in and do anything to keep them in the euro zone. let them go, it sends a message to the crowd in --

>> people are going to starve in that skun. neil: no. i think you're right. i wonder if maybe we have these campaigns right. the imf world buying, the ecb, all these other dudes. when we always get back to the same deal, is there some way we can mix a little more carat with the stick, where we can give incentive even offer to cut can down on all the debt they owe? something to give them to see a light at the end of the tunnel because we just go right back in the tunnel. >> well, they've been trying to do this carat and stick for five years. neil: i don't know if they've owed a lot of carrots here, but we've always given them a lot of the tough medicine, but nothing to make it worth their take a while. >> well, listen, greece, i mean it's a tourist country where you can basically retire at age what? 55? . neil: there's a problem with that. >> they wanted pension cuts

and a higher value-added tax, but they wouldn't go for it. . neil: they went a little. >> not enough. >> there are the imf and these global bureaucratic organizations and people forget that, yes, they do demand the degree of osterity, but they don't form to the country itself. the welfare state remains, it's about getting past, paying back. neil: but you can't get a welfare state to change its ways. >> i agree. . neil: you know. >> that's the imf's problem. neil: and i know we keep revisiting it. >> it's a little bit of the problem in puerto rico. neil: yeah, it is. it is a little bit of the problem. guys, i want to thank you very, very much. again, that press conference was wrapped up. we tried to limit the damage for you and go and pick and choose the stories that really mattered from the president. willing to walk away from iran if they don't measure up and tell the do what i tell them to do, and on his best week ever, i'm on fire, and you're not. a little more after this

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with exclusive behind the scenes footage, all of taylor swift's music videos, interviews, and more. xfinity is the destination for all things taylor swift. neil: you know, not that the housing industry needs it in this country, but this greece unrest has been a good thing for those looking for homes or refinance in this country because it immediately prompted a flight equality safety if you will in our treasury and bonds and those the are the rates that the mortgage rates are pegged. it's too soon whether that will tell if it's an effect, but i don't think it's too soon that the housing will have a turn around, sort of like a bible of the industry here. reading at 101.4 in june when it comes to home prices, double digits in the lights of the denver area, san francisco area. so, again, we have seen the pickup in activity that has been broad-based, and it confirms what we've seen on

new home sales, existing home sales, the whole nine yards. again, about a eight and a half year high. and we've got bob with the report, what do you think? we've been head take a break before. you've been always very, you know, -- not to the point of, yeah, i like what i see, but let's b not go create. where do you think we stand? >> well, it's true the numbers look stronger. but you have to weigh in that this is entering the summer months. and the middle of the year is generally a period of higher price increases. you're correct for that. i don't know, you know, it's -- and it looks like we had a big upturn in 2012, and the market looked really strong. now if anything it looks -- it still going up, and it's still -- neil: right? >> but it's not as peppy as it was in 2012, 2013.

neil: you know, the argument here for the housing bowl is that we're not off to the raises, but we're off the map. in other words, we're seeing pick up in prices, applications, not consistently, but enough to make people think, well, maybe i should get off the fence, interest rates are going to move up, it looks like the federal reverse could be poised to hike. i know this is a market rate given phenomenon and things have changed in the last day or two for greece, and this is the file for fence sitters to get off the against, do you agree with that? >> sometimes i get that feeling when i talk to people looking at the housing market, you know? it could be coming back. on the other hand the latest data really not showing any consistent signs of strengthened. and there was a recent new york fed survey that shows the expectations for home price increases are only about 4%. consistent with what i've found in my own surveys in the recent past. so people are not -- except in

certain places like san francisco, overall they're not, you know, really excited. maybe that's a good reason not to be that excited about prospects in the housing market. neil: and a lot of those of markets, like, san francisco, correct me if i'm wrong those were markets that were super, super hot and then turned super, super cold. >> right. neil: so it could be coming off a super, super extremely; right? >> it seems that some is it has cities are just more volatile than others. california is a volatile state. it goes back over 100 years, this volatility. it has something to do with glamor, beautiful weather, everybody wants to live here. neil: yeah, that could do it. this is a dumb question, but i'm curious. what is the historic trend here? housing is strong when the rates are in the process of moving up. presumably because the economic activity is picking up or vice versa? what is it? >> i have data going back 100 years and it's true when rates

are really high, like, 1982, that super high, in other words, double-digit, home prices were low. so there's definitely something to -- a relation between rates and home prices. but overall it's not that strong, you know? you can't look at every little wiggle in the interest rate and infer what will happen to home prices. there's a big psychological component in home prices. it's not even closely related to interest rates. neil: all right. but that psychological component, if you don't mind indulging me, is wow. i see rates up, i see home prices ticking up, again, not crazily as you pointed out, i better do something, and that's what's going on. >> yeah. i hear exactly that. and yet there are signs of weakness too. boston is hardly going up at all and it's not a uniform

picture. neil: robert, i don't know whether to laugh or cry, but i'll go in between on that because it could go either way. >> that's the way it usually is. neil: i hear you. thank you very much. >> all right. neil: robert shiller, no one follows us better. all right. we're just getting news right here that behind the scenes you've always got to wonder what's going on in greece. the greek government has sent a couple of proposals today, this is the latest one. they're being examined we're told by the french prime minister among others. the french prime minister has been saying -- this is iran that we're talking about, we want you to stay in the followed. we want you to be in our club. we think you deserve to be in our club. this comes at the same time he's playing the good cop of germany who is playing the bad cop and saying we're not going to budge. you know the deal that's on the table, stick to it. good cop, bad cop, i'm confused. we'll sort it out after this

>> this is not something that we believe will have a major shock to the system. but obviously it's very painful for the greek people, and it can have a significant effect on growth rates in europe. . neil: all right. what the president is essentially saying it's all greek to me because it's all greece. it's all europe, it's not us. in other words, the problems that are in greece right now are greece's to fix and europe's to address. and of course he's trying to limited the exposure the united states has, easy to do because our exposure is limited as it comes to greece. as we were pointing out earlier if it spreads, then it's not limited. and what the president is trying to do and whether it is working. steve, what do you think? >> well, i was listening to your previous conversation about this after the president's remarks, and this

is not a hard story to understand, and i'm so surprised that so many people at the imf and the eu get this wrong. it doesn't matter if they restructure the debt or they, you know, do some kind of deal with greece unless greece deals with the fundamental problem. and the fundamental problem for the last seven or eight years has been greece's living way beyond its means. it is borrowing huge amounts of money, the work -- people are dropping out of the workforce, they have an obese welfare state and the question is who going to pay for this? and the reason this is relevant, if greece goes down, it's not that important, in my opinion, because greece is less than the size of indiana, so it's ain't huge player in the world economy. but the problem is you've got a lot of other nations that are in the same kind of hold that refuse to deal what the fundamental crisis of pulling back on the government spending and the welfare benefits and the pensions. and that includes the countries you were talking about before, spain, portugal

and puerto rico. neil: we're doing something wrong. >> yeah. neil: we do it and. >> right. neil: on steroids here. >> yeah. neil: but it's hard to get out of it, it's a brave alternative. but i do think in all these lending snafus we've had, whether it's in greece right now, ireland not too long ago, italy when it was on the brink. we always revisit the same problem, and maybe we should rethink the way we address these problems. >> exactly. neil: i don't know what that address is, i don't know whether we owe more of a carrot to the constant stick of saying you've got to do this and this and this simple b for the population involved, these folks in the crowd we're looking at in athens, they're just angry and ticked off and saying, look, what's the deal here? and what kind of deal do they have to look forward to? >> well, look, if they just do a restructuring of the debt or some kind of bailout to greece right now, then, neil, you and i and the rest of us are going

to be sitting here from six months from now and having the same conversation. neil: you're right? >> now, what is the relevance to the united states and our economic situation? i'm not worried about this contagion effect, but i'm worried that there is a sense that greece is in the canary in the coal mine, but when their labor force declines, my goodness. in greece right now, half of the work force under the age of 25 is unemployed. and then you've got people retiring at the age of 55 or 60. who is working to support this thing? on anybody. and now that does have some, you know, slaters to the united states. and i'm not trying to over play this, neil, but, look, we're borrowing a trillion dollars a year. we have a decline in our labor force. we know that the social security and medicare crisis is coming, and on anybody does anything about i. neil: i think you're exactly right. steve, thank you very much. that tough love approach is something that chris christie has said announcing for president today in new jersey. the governor reminding people that he's going to be mr. straight talk to tell people we've got problems and

he's going to address them in simple english, sometimes blunt english. and part of that blunt english is saying that social security is broke, needs fixing, we do have the means, we do have to raise the retirement age. he kind of spelled out all the unpleasant medicine, of course for the governor, the same message following on deaf years in new jersey but be that as it may, that would be his differentiator, do you think it's going to work. >> i don't know, neil, i don't think it's worked in new jersey to be quite frank with you, even though he got reelected. but, you know, the more the marrier. and i think he can add a lot to the debate that's going on now until the first of the year. neil: but don't you have the records to prove it? if the edge for governors that they're the executive experience and the results to prove it, i'm not blaming this all on chris christie, he was deeming with a democrat legislature, but the fact of the matter is that the debt is

still bad, its state credit generating has been dinged no fewer than nine times, it is not. >> especially when you care it to jeb bush, plus the fact that he's from new jersey, i love new jersey and i love the people in new jersey. neil: careful. don't talk so fast. >> they're wonderful. neil: yeah. >> and republicans have a lot of acceptance of northeasterners. i've got to tell you. neil: so you think someone who is walking more the walk on this is someone like scott walker or someone who has had a better track record on this stuff. >> i think -- i'm not sure i understand what you're asking . neil: exceeded at addressing unions, big pension obligations, that sort of thing. >> yeah. these governors have a great opportunity here. and i think we're going to have a governor as our nomine.

neil: interesting. all right., well, we've got six of them. >> but i've got to tell you. neil: real quick. >> or you've got to put it here. i also think that we could possibly have a broken convention. this many running and the changes in the republican party. neil: absolutely. >> we could very well have a broken convention. neil: you might run away from that because i predicted that six months ago and it's not going anywhere. >> no. no. you're smarter than i am . neil: i wish. but with that many in the race, who is going to be able to amass all those delegates by cleveland time? greece, steady as she goes, two yours in europe offering a good cop, bad cop response to greece, and the united states making it clear it is their problem, not our problem, unless they can't solve their problem, at much time it becomes our problem. stick around. more after this

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>> we need to fix a prone entitlement system. that is bankrupting our country. we have candidates who said we can confront this because if we do, we'll be lying and stealing from the american people. let me fill everybody else in. the lying and stealing has already happened. the horse is out of the barn. we got to get it back in and can only do it by force. neil: well, say what you will of his record, chris christie is quite the speaker, quite the talker, quite the arguer and now

quite the presidential candidate. 14th republican, the sixth united states governor. there could be more. carl paladino, former new york gubernatorial candidate and business titan though you're not a fan of governor christie's. >> what does it take to explain to this fellow he is irrelevant now. he is over, he is over his prime. he had his moment and he messed it all up. neil: what was his moment? four years ago when he could have run? >> his moment when he could have run. neil: why, governor of a pretty big state. and it is a very blue state. >> a big state economically rated 46th in the nation. neil: you think that is his achilles' heel? >> if you can't manage your state, can't manage the finances of your state, maybe you should, maybe people will recognize that as an inability to manage the finances of america. i just, i look at him and i'm saying to myself, here's a guy,

he has 30% favorable. his unfavorables are hitting the sky. what is wrong with him? why does he think that he is anything but a loser in this campaign? does he just want to get his face out there? neil: there could be argument he is pretty persuasive speaker, dealing dealing with opposition party controlling the legislature. do you think that will legislate? >> this guy is a micromanager. he presents to the american people that he had nothing to do with the george washington bridge, the holding up of traffic. neil: nothing is proven that he did. >> that is his staff people. when you're a micromanager do you really think -- neil: bottom line if you don't like him who do you like? >> right now scott walker. neil: really. >> yeah. neil: why? >> because he is has been in the trenches. he is a fighter. he illustrated to people that he knows how to fight. he has a track record to prove it. neil: what about donald trump. >> i think donald has a good place here. i think he will bring out issues and talk very bluntly to the

american people. i'm not sure that attitude can win the day but i think donald trump provides a very incisive look what america is today. neil: you're not worried about mainstream republicans, will drag the party down? >> mainstream republicans they're part of the problem. okay, that establishment crowd, they want jeb bush so bad they can taste it. they gave us romney. they gave us mccain. all three of them were losers, okay? siding with the 1% against the 99%. that doesn't make any sense. i think people have had enough of that. time to get new blood in there. a guy like walker than certainly answer that question. sure, he is not loaded with money but he certainly, people have trust in him. i mean he, he got reelected three times. neil: you're right about that you're loaded with money yourself. you're a very rich guy. are you going to run again. >> i don't know. i'm impulsive. we'll leave that to the future.

see what i'm doing. neil: which means you probably are? >> no. it means i have a challenge right now to fulfill on the school board in buffalo which i, a challenge i took on. and i am the type of person that finishes what i started. neil: you know type of person not blowing you smoke. you stay with your roots. you could have gotten a swanky place at west palm beach but you stayed with your roots. >> yeah. neil: stayed up in the buffalo area and white hot, all of that is there. good seeing you my friend. thank you very, very much. elsewhere as carl was talking to we're getting more indications that grease is -- greece is trying to cobble something together behind the scenes to stay in the european club. we're told two different deals could be on the table. hard to say. this much is not. athens still in large disarray. they want to be in the club. they don't want to be in the club. don't want to be sack with more penalties and fines and adjustments. it is a mess.

trish regan on that and what happens after this. trish: you can say that again. neil: it is a long way from being resolved, what the president just said, our president, they're on top of it, no need to worry. trish: i have a bit of a problem with that, neil, because the reality is it may be europe's problem today, but if they don't fix it will be our problem tomorrow and i think that is what is sort of underscoring all of this, realization, people are coming to the realization that greece isn't alone here. if greece goes, you run the risk you could see contagion in europe, followed by italy, portugal, spain. all the economies may make a decision to leave the eurozone. that is when it hates us and starts to matter. neil: i hear that? trish: it will have domino effect. neil: do you think that is the case? trish: i absolutely do think that is the case. when you start to get fear in the marketplace, and that is the, that is the concern here, right? that if one goes the other goes. once you have that irrational

fear there, that's when it is like, you know, it starts to come apart and i think that is what we saw in 2008 in a very different way but that is potentially what you could see the beginning of here. neil: yeah. we'll watch carefully. i think the whole club is ridiculous, when you think about it. trish: i absolutely agree with you. talking about that the other day. milton friedman called this back in 1997. he said that it wasn't going to work. he was right. neil: that is then. could be happening now. trish, always good to see you, thank you very much. we mentioned chris christie joining the race here but if you want to know who is making a race of it, follow the money. we have two people who have it and who they are following after this. ♪

>> i'm dagen mcdowell and this is your fox business brief. the u.s. women's soccer team gearing up for a showdown to remember. usa takes on germany in tonight's world cup semifinal game. the two countries played each other 29 times. germany winning only four of those matchups however team usa is entering the tonight's game as the underdog. number one germany is favorite to take home the trophy. winner will take on germany --

england or japan on sunday. you don't want to miss it. go usa! take a look at market as we go to break. 61-point gain on the dow. we'll take that after yesterday's tumble. "cavuto: coast to coast" will be back in just a minute. this allergy season,

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neil: chris christie is in but is the money gone? a lot of fund-raisers we're talking about, jumped to jeb bush bandwagon, other bandwagons. too early to tell. we have republican fund raisers with us right now of the michael, you were a former romney campaign guy. andrea, you're a former perry fund-raiser, now working for mike huckabee or trying to raise funds for mike huckabee. let me go to you first, why mike huckabee this go round? >> i think at any point in this process it's so early that governors have a real advantage especially if you didn't like the recent supreme court rulings. i think that states sovereignty is going to be a really big issue for voters. advantage is all gubernatorial, former governors right now. neil: but not chris christie? i mean, or no? >> i think chris christie has a hugging problem. he hugs barack obama.

he hugs jerry jones at the detroit lions playoff game in a red sweater with a awkward man hug. i think chris christie needs to get over his hugging problem before he can be considered a serious candidate. neil: well, i'm a hugger myself but never at a cowboys event or with red sweater or certainly within miles of video cameras. but you raise a good point. michael, let me ask you this, money is the mothers milk of politics, we always hear that. do any candidates stand out with an edge? obviously jeb bush has a lot of it but who are you looking at? >> as part of the fund-raising apparatus i would agree jeb bush is in front right now because of all of that i'm still a supporter of scott walker. i think marco rubio has a good chance. there are donors wanting to get behind all three of those candidates. there are others but it will be difficult for others to raise the type of money to get selected. neil: does that mean chris christie? hopes to make a big splash in new hampshire.

that state tends to like maverick candidates. tends to forgive those the mainstream media dismissed. what do you think? >> i think he mad a great splash today. his delivery is right on point. it was brilliant. he did a great job. certainly in his comfort zone. tactically he is best. he did a great job. it is late. he has a lot of political baggage that will be difficult to get around. he has a tough climb and hill to get over. neil: andrea, only person he hugged was his wife. andrea, what do you think of that? >> i think christie is outstanding in the plain-spoken category but he absolutely got trumped by trump in the plainspoken cat power this week. neil: thank you, guys, very much. as you were talking we want to bring up developments in in at with this crowd which is very leftist crowd which tends to be the place in capitals. they have had it.

to surprise prime minister, they're breaking out in chants for him to resign. this is not the kind of chant you want to hear if you're a prime minister of a country telling its lenders to put a sock in it. they're telling him, put a sock in yourself. just going to look up the greek words for that after this. we live in a pick and choose world.

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neil: all right, now, i don't care about how you feel about chris christie as new jersey governor. i take offense for charlie gasparino who mocked the garden state and as resident of the garden state i take great exception to that as does my next guest. who could very well be positive of new jersey -- governor of new jersey tomorrow if he wanted to be. senator menendez.

if he wants to be, talking about joe piscopo one of the funniest people on the planet a hit talk show to his credit. new jersey front and center. for chris christie even though we love your state we don't love what you have done to it, even new jerseyians say that what do you say. >> i can't be objective. all the new jersey brotherhood thing. neil: you realize there are other people in new jersey? >> i know but none running for president. so, i like, i saw you at the christie rally in livingston today. neil: i was not there. >> that wasn't you? i was just -- neil: in other words, there is that jersey pride, i understand. >> that is exactly right. neil: but, he is arguing about a record, talking about a record that he doesn't have. critics say despite his best intentions to rein in pensions, democratic legislature he doesn't have that to run on like scott walker, like jeb bush

might. >> john kasich. neil: john kasich, right. >> you know what though? i must say this about our good governor, if i may, help me out, neil, i know where you're going. what i loved during sandy, it was a natural disaster and i'm with my kids at my house, to personalize it, and you couldn't get gas, you couldn't get food, governor christie got up there like a general would, just commanded everybody. commanded -- neil: a lot of republicans remember another thing that he did. he hugged the president and did not let go of that. >> i think that is a benefit. just give, thanks for coming. bring team ma in. -- fema in. there are still sandy problems. to hug the president means he can work with the other side. neil: right. >> this is great. he was so, commanding. we had no power grids in jersey. we're both in jersey. you know when that power went out during sandy -- neil: are you kidding? you had multiple generators.

you didn't even nope the lights were out. >> people from west virginia, this is the most complicated grid i ever seen in my life. neil: now we just lost the west virginia demo. >> are you kidding? i love west virginia. joe manchin is personal friend of mine. who fixed the grid? why are there no power failures now? neil: he is not in the top 10. very powerful speaker. >> in the debates you saw that today. i am disappointed in one thing. i think he should have came out with doughnuts. should have been sponsored by jersey mike's. should be dunkin' donuts. neil: laugh at himself. >> jimmy fallon will get this guy's numbers up. neil: remember the dad dance? brilliant. you're right. >> i'm trying to take the high road. neil: where you live, where you live on the high road. one of new jersey's most recognized men. he would win offers tomorrow if he wanted. offices that are not behind bars but he could. we'll have more after this

neil: athens right now, where they're saying, they're getting tired of the prime minister, chanting saying he should go. what it means for sunday's referendum. anybody's guess. president of the united states make it clear at this hour, it is their problem, not our problem. trish regan, i guess he means it. trish: neil cavuto, thank you so much. future of eurozone hanging in the balance. three hours from the the money due to the international monetary fund. leaders trying to find some solution before greece gets kicked out of the eurozone all together. you have tens of thousands of people 24 hours later gathered on steps outside of parliament. this time they are calling for the resignation of prime minister alexander tsipras. they say they want to stay in the european union. we've got bank closure