today, all eyes on berlin as the greek finance minister meets with wolfgang schaeuble.ping that meeting goes somewhat differently. francine: let's hope it goes better than the one with the ecb and the one on thursday. in 25 minutes from now it is "surveillance" with tom keene. what are we looking at? blackrock cofounder, right? tom: the headline float out of europe forces us to rip up bloomberg "surveillance." we focus on secretary kerry landing in kiev and the challenges ukraine has with their devaluation. a panic mood as one official put it. as john knows the ukrainian hryvnia has depreciated as much as 25%. many people to talk to. gilles will join us from bank of america-merrill lynch. we will talk about ukraine greece. ukraine more immediate. pete peterson across both hours of bloomberg "surveillance." and then thorsten from deutsche bank on the u.s. economy as we go to tomorrow's jobs report. francine: the ukraine conversation is going to be fascinating. we found out francois hollande and angela merkel are going to kiev then moscow. tom: the headlines are just stun

the headlines out of athens "wolfgang schaeuble is out for blood."fakis did give an interview. what he said, what we cannot accept is the fiscal agreement by the last government be carried through because the rules say so. there's a possibility as long as the sides are talking for a deal. they meet at 3:00 today. last may, angela merkel in alexis tsipras had a positive conversation as described by the greek side. german officials are saying greece does not have to profit a -- to proffer a new agreement, the proposal can be the basis for negotiations. they have made clear they want greece to stay in greece has been just as clear saying they want to leave the bailout. francine: what is the ecb considering? hans: the ecb is prepared to ask greek banks to stop relying so heavily and stop buying as much greek debt. reduce their holdings. next month, greece plans to roll over another 4.4 billion in greek treasuries. the main buyer is the greek central bank. if greek banks are not buying that debt it is going to be difficult for the government to find thems

. >> does the finance minister wolfgang scheibe up -- wolfgang schaeuble's reaction nero the rest of government? >> it has cost a little friction. one minister said that they should not be rejecting the greek proposal publicly at this point, but should view it more as a basis for negotiation. obviously the economics minister is looking ahead to friday, and the prospect of negotiations with the greeks again on this loan program that is supposed to take place in brussels. it is clear he does not want to prejudice those negotiations. >> those negotiations are looming on friday. terry martin, thanks for joining us. >> let's check out business reaction. despite news that germany rejected greece's proposal as it stands, it failed to unnerve investors. most major markets finished with gains. this summary from frankfurt -- >> today's trading action was once again clearly dominated by the standoff between greece and the eurozone. we had a little bit of an uptick of momentum in the morning after greece came up with a better than expected offer. but then wolfgang schaeuble said the offer was no

wolfgang schaeuble. >> yesterday, the german finance minister mr. schaeuble lost his composure.because he spoke against the greek government because he spoke against the greek people. i would like to say that he would do better to pity those people who walk with their heads bowed. hans: that seems a little personal. we will see how that goes down in berlin. whenever we get the offer proffered by the greek s in brussels, we will see how much that differs from the moscovici proposal, what mr. tsipras was offered monday night. that was never cleared by the european finance ministers. we will wait to see what the agreement is and then we will see how markets react. guy: can i take you to frankfurt and talk about the meeting today? is there any suggestion that the ela funding for greek banks will be cut? there seems to be noise from germany that the germans are not comfortable with the current program. where do we sit? hans: two weeks ago at about 9:30 on wednesday night we got a line from the ecb that they are not going to be accepting greek collateral on one of their financing wind

until we hear from wolfgang schaeuble, and we have not yet.ll the germans received this? hans: you have to think of this not as the final negotiation but one step in what is point be a long negotiation for the next or month, so even if schaeuble is cautiously optimistic where they go and get this through, there will be another fight in april, there can be another one in march. in april is when the real money gets disbursed to greece and at that point we will have another conversation about what greece is doing to reform their economy. brendan: hans, there were three words i did not see in a stress from greece "primary surplus ratio," the measure of austerity that is a contention. is there any note of what schae uble is willing to accept echoh ? hans: they've indicated they will give some flexibility. a have not given us a hard number. you need to factor in future tax receipts, and those taxers these are going to be coming down, too. there is a lot of modeling on that number. that seems like an easy place to get to. you say 1.5%. the harder thi

schaeuble told german radio this morning. "i'm very skeptical but we will get a report today and then we will see." a little note of optimism. he also went on to say that the new greek government was behaving quite irresponsibly, and the problem has been that greece is living beyond its means. we have mr. sapin talking about how there could be a huge danger for greece if they leave the eurozone, explicitly raising the prospect. the situation in greece over the weekend we had that ugly cartoon depicting mr. schaeuble as a nazi. he said that personal sensitivities shouldn't play into this. mr. tsipras, the prime minister of greece, has condemned that cartoon. heading into this meeting, it does look like the greeks are perhaps the most optimistic. here is what mr. tsipras said over the weekend. "we are looking at difficult negotiations on monday. nevertheless, i am full of confidence." that is the line out of greece. they just have to have their meeting. i will be getting on a plane shortly. >> covering everything from the groun

does germany look at merkel and say schaeuble and say where is conrad adenauer?hink markets try to look at the facts of the agreement. is the troika going to get involved -- tom: looking at the mechanism. brendan: but to answer your question, i think it may be true in the future that they will look wistfully get angela merkel. it is hard to think of a more impressive and popular postwar chancellor of germany then angela merkel. tom: washington is as far removed from this is possible. daniel: in one sense we want europe to solve their own problems. in another sense, you have that splitting away with the 25% on implement rate increase versus 5% in germany. they have to figure out how they keep themselves unified. tom: olivia, the headline, greece belongs in the euro. olivia: we are worried about the political contagion. we are worried that the anti-austerity party in spain is going to get riled up, we are worried that instead of -- it is going to feed into the nationalist parties and we will see a breakup. brendan: and torsten, this idea of greece belongs to the ro

schaeuble spoke to a german broadcaster and here is what he said.e said, it is not about an extension of credit program. it is about whether this program is fulfilled. yes or no. that is a strong indication, at least mr. schaeuble wants to see this current program fulfilled and he doesn't want to negotiate a longer conversation about a bailout extension or loan extension. mr. tsipras in parliament, everything he said contravenes the current ball -- bailout program. we will have to see when we get the actual proposal. jonathan: as if the confusion isn't enough, there's also reports in the great press that cash reserves could be depleted as early as next week. we don't really know what the firm headline is and when they will run out of money. >> well, if the greek state does run out of money, there may be a few tweaks they can do to get through the month. the larger issue is what they do if their banks are cut off from the ecb. there's going to be a meeting in frankfurt and they are going to be discussing whether to raise or potentially make it harder

wolfgang schaeuble poured cold water on that.e'll be talking to the ceo after the company reported fourth-quarter earnings higher than expectations. ♪ >> welcome back. i'm jonathan ferro. this is "on the move." the ftse 100 is dead flat. the dax up .1%. we are waiting for the greek market to open up. yield on the three note coming up a little bit again, two basis point. we thought we would get a compromise and the german finance minister poured cold water on that. i want to get stock specific because one company dominating the headlines in the tech world is chip designer arm. fourth-quarter meeting expectations. simon segars joining us. caroline hyde with us as well. the last 12 months we have talked about licensing growth and when that was going to translate into royalty growth. your company said you are going to get 15% growth. we waited patiently. here we are. you went up 16% on royalties, 30% on licensing. i will shut up and let u.s. of the question. could you be that 15%? when i look at the -- i will let you answer the quest

finance minister wolfgang schaeuble spoke ahead of the vote. he told lawmakers the four-month extension was just a way to complete the existing bailout successfully. >> translator: the decision is not about billions more euros for greece nor a change in the bailout program. >> some conservatives in the ruling bloc voted against the extension. they're worried greece might need even more financial help. germany is the biggest contributor to the rescue loans. >>> south korean president park geun-hye has appointed an aid who could influence relations with japan. she chose her country's former ambassador to tokyo as her chief of staff. the presidential office announced park had given the job of right-hand man to lee byung-kee. analysts say she chose him as part of her effort to rebuild her administration and regain public approval. lee heads the national intelligence service. he's said to be close to park. he's fluent in japanese and once taught at a university in tokyo. he was south korea's ambassador to japan until last summer. lee spoke in that r

wolfgang schaeuble, the finance minister, saying he is paving the way for the germans when his bank andhe austrian finance, positive results this afternoon. >> but it is all of this a sticking plaster solution meabh? will we have to revisit all of this again? >> that is a possibility. if not ruled out the possibility of a third bailout, but at least the lobby signature of a new greek abdomen and they will behold to prepare it together. the reality is it was positive this morning in brussels by greece have a long way to go. all focus is on finishing the first program. they are waiting on the second bailout, 7.2 billion euros, and they have to pass a fifth review of the bailout program. that has been on hold for months, and that is why they have not got any money. what we heard this money -- this morning is the implementation of the reforms, head of the eurogroup said it will take time to get the details added by new contracts for the greek authority, something that will take on for the next few months. it is baby steps. trust has been established, and all about talk and speculation has b

as wolfgang schaeuble said, it is difficult for the german parliament to really get behind this packageforms given how much trust has been lost. people are skeptical frankly that the reforms the greek government is committed to will really produce the results over the next four months. will there be significant growth in the greek economy? will tax revenues increase? many in berlin doubts it. >> the greek finance minister said he used "creative ambiguity" to get the extension accepted. that doesn't really sound like a watertight agreement. >> indeed. these are the kinds of comments from athens that have politicians here in berlin really annoyed especially over the last couple days. mr. varoufakis also said he was thinking about possibly applying for another debt write-down, something that has been repeatedly ruled out. there has been a lot of trust between berlin and athens. and we have one opponent of today's deal even asking fellow parliamentarians would you buy a used car from varoufakis and tsipras? it is a strange climate despite the fact that the german parliament voted for the pa

wolfgang schaeuble led the debate, who has been a top critic of greece, but is very pro-european and wanted to quell any skepticism among parliamentarians today ahead of the vote. he said this is a vote of solidarity not only with greece but also with members of the eurozone. he and other parliamentarians who spoke his morning in favor -- this morning in favor of extending the bailout said that germany has benefited most strongly from the euro, more than any other country, and that it can only continue if they continue to support other eurozone countries. the critics in the debate this morning said -- some members of the right wing said that this extension was not a solution and that they were just kicking the can down the road by giving greece more time. ultimately, these critics were outvoted and the german parliament has indeed voted to extend the bailout for greece. annette: the vote in berlin comes after police and protesters clashed during antigovernment demonstrations in athens late thursday. it was the first outpouring of antigovernment sentiment since the left wing syriza pa

olivia: speaking of heaping praise, i thought that wolfgang schaeuble actually indicated -- reiteratedis offer to send tax accountants to at hens pro bono. [laughter] this greek drama gives rolling on. what is the timetable here? how long do leaders have to make a deal? when do greeks just run out of money? hans: so it looks like on monday we will have the next big meeting to really discuss this. at the end of this month greece will leave its bailout program. they want to leave the bailout program. the language they stumbled upon in the communiquÉ last night with that greece was going to extend and conclude their imf bailout package. what the germans want to do is keep them in the package as long as possible, make those necessary reforms. tom: hans nichols, thank you so much, and brussels with this continuing story. joe weisenthal has just returned from athens with perspective. the backdrop, joe that you know so well is the true poverty. not medieval poverty but just the new poverty. joe: absolutely. that is one of the striking things that i saw, not necessarily the poverty but the sen

schaeuble pressing for a vote. come together on tuesday morning and have a vote. that was rejected by the eu finance economy ministers. the economy minister out of spain said there was a need for some sort of verification and then they decided to have this conference call. it is another layer, another safeguard. that could be one of the breaking points that trips this up. francine, guy? guy: thank you very much indeed hans nichols in berlin. francine: for more on spain and their finance minister, let's bring in charles from madrid. why is the spanish government watching events in greece so closely? >> it is watching events so closely in greece because they see a big year in spain. we have an anti-austerity party which is an ally of syriza and it is riding high in the polls. it is leading some of the opinion polls. the spanish government sees a risk that if greece is given a soft route out of their difficulties, that could play into the hands of pdemas. guy: i guess there's a flip side way of looking at this. if he is seen domestically as beating up on some result,

wolfgang schaeuble seems to be still playing poker.ne should say, they have actually taken a step. i think this is actually the start of the negotiation process. i think that behind all the rhetoric, the political noise the two sides are coming closer together, and i think that most people in german government accept that this is the start of negotiation. >> yesterday morning, there was no meeting today. maybe varoufakis and the greek government got what they wanted. when they sit around that table, talk to me about who has the leverage. is that a problem for greece or the whole of europe? it is certainly a problem for greece. there's no doubt about that. in terms of europe, i think it is less of a threat than it was in 2012. the rest of the european banking sector are less exposed to greece. contagion has been very limited. that could change if greece really looks like it is heading for the exit. i don't think we should underestimate the risks. they look less than they did a couple years ago. jonathan: a lot of people talk about how t

wolfgang schaeuble yesterday lost his cool, not because he spoke against the greek government, that is his right, but because he expressed himself in a derogatory manner for the greek people. i would like to point out to him that it would be better to pity those who walk with their heads low and not pity those that held their heads probably high. amy: if you could talk further about what alexis tsipras is saying, and also where he comes -- work -- where he comes from, the significance of him being prime minister now. paul: this was a guy that was a far left communist in the 1980's, and although he is moderating his positions, he is trying to run a swedish or scandinavian style social democracy right now. the background of these guys is marxism. the next thing to understand is what people in greece field -- the 36% never voted for this party, and the other 10% devoted for other parties are feeling there is a social and psychological revolution going on. it is not just about the election. my day job is to be a news reporter and every day i sit down and look at cameramen shooting what loo

yanis varoufakis came away with very little from his meeting with his german counterpart wolfgang schaeuble on thursday. germany remains the strongest opponent among eurozone countries to the greek's government plan to renegotiate the terms of its bailout. if economic arguments don't work how about emotional or historical ones? in an interview with german television mr. varoufakis compared greece's plight to that of germany. if you human late a proud nation for too long, and subject it to the worry of a debt deflation crisis, without light at the end of a tunnel then things come to the boil. well let's get a little more on reaction from our correspondent in berlin damon mcginniss. what reaction has there been? >> well what we can say, is that today's papers is all about mr. varoufakis because he has pretty much a cult following here in germany among left wing supporters and trade unions. what's very interesting about these particulars historical analogies he made on german television yesterday is there's been very little outrage as such. while there's a feeling here it's just not very wise

suggesting that it was little greece playing a bigger role in europe now and, of course, wolfgang schaeublee german finance minister say it's over for greece if they don't complete on what's the agreement that's already on the table. this is the picture in brussels a few moments ago as those 19 gather along with, of course, the head of the ecb and the head of the imf. deutsch bank doesn't feel close enough for them to midnight to do a deal. there isn't sufficient stress in the market to push them together. as far as the greek banks are concerned we're in negative territory. the banks going up and down, small market caps, fitch and s&p have warned on their liquidity situations as a result of potentially people withdrawing further funds from the greek banks. let me show you the timetable because a lot of people don't think we're going to get a deal today. this is what's happening in europe. the finance ministers meeting with greece now and the ecb and imf. tomorrow the leaders from across the european union happen to have the summit that kicks off at 6:00 a.m. our time, new york, time. then p

german finance minister wolfgang schaeuble said a report the greek will get a six-month extension toff their debt is fall according to several wire reports. temper sele bouncing back after h partners disclosed a 10% stake in it. h partners says the stock is undervalued. facebook launching free mobile internet service in india making it the first country in asia to get facebook's internet.org service. it's aimed at low income and rural users. are you missing your nicorette lots zennings. they issued a recall and then stopped making them and that has upset a lot of followers. according to the "washington post" that is. no word on whether the company will start making those again. coming up tonight on "mad money" jim cramer interviews ben baldanza 6:00 p.m. eastern time on cnbc. that's your news update for this hour. back to you, carl. >>> thank you, sue. your car might be vulnerable to hackers according to a new report by senator ed markey which says almost all cars on the market include wireless technology that makes them susceptible to an attack. here to tell us his solution is senat

did alexis tsipras the group prime minister blink or will wolfgang schaeuble, the german finance ministersoften his stance? here to help us figure it out is david powell. he joins us from london. great to see you. it looked like after monday's talks fell apart that greece and germany were once again on a collision course. is it fair to say that greece swerved first? david: greece certainly had to make the first move in terms of requesting another meeting before friday. if there were no meetings, things would fall apart. you could say they have blinked first in that sense but they have not given in if you look at the wording day requested. olivia: the wording is controversial. what is the difference between an extension of the bailout and completion of it? david: with the greeks semantics matter. the government came to power promising to get rid of the troika. they do not like they were troika. the eurogroup has stopped using it. instead they say the ecb imf. they do not like the work program. they requested an extension of the current loan agreement. there is not a program there. when the

brendan: of what they were told to vote for by wolfgang schaeuble, a temporary extension pending negotiation. a redline for the germans. they will not renegotiate the existing debt. varoufakis in athens saying we want to talk about the amo unt of total debt. >> if you ask the germans should the era stay together, yes should we write greece a check no. tom: goldman sachs said yesterday what jim said greece is not a back burner issue. front and center. brendan: to add to the pain, you have countries like portugal and spain. they did the right thing. alessio you collect old currencies. did you hang onto your drachmas? >> they would be worthless anyway. greece is front and center but from a game theory point of view. greece is trying to win to keep faith with the domestic electorate. within europe, greece has less leverage than4 years ago. you can say i want to renegotiate but i want to stay in the euro. you're showing your hand already. brendan: a great piece this morning talking about despite what they've had to give up, the greek leadership has a lot of support from the domestic -- olivia: al

schaeuble said grexit, the greek exit is not on the table.ng us now is he had of european strategy -- is the head of european strategy. it seems like a brief hiatus before we go to the real event. we have to deposit and a period when they have to figure out what they can do and what they can't do and then we'll get down to the red negotiations. >> the crucial point, the greek government is very new and probably have to get their head around what the real situation is. and if the agenda and have to assess of the reality and that is what is happening now. they put some form up her postal and they will go to the april deadline. -- some sort of proposal and they will go to the april deadline. and then another crutch point. >> they have to -- i'm not really sure. they put the proposal and were not sure it is enough to appease the europeans or the germans. the lawmakers will vote on this on friday. you think even if we get an agreement on all sides, we have to wait for a couple of months before we can see if they can push the reforms through? >> le

you have schaeuble who hasn't changed his rhetoric at all. he's very clear yesterday, he talked about, there would be no way back. he said it would be over if greece doesn't want its final. it will be in brussels. we will get those readings. >> are there also signs that greece will look to russia if they fail to make a deal in brussels? >> we have the defense minister, he is a part of the minority party, he says they've been contacted by russia and china and they look to them. at the same time, the foreign minister has meetings in russia today with his russian counterpart. it is opening up this prospect that greece has a plan b and that could mean getting some sort of bridge financing either from russia or in some accounts, china. francine? >> thank you so much, hans nichols and berlin. he will be covering that story and brussels today and tomorrow morning. french, german, and ukrainian leaders are meeting in belarus today to discuss ukraine. the ukrainian president has confirmed that he will be attending. chancellor merkel and president holl

wolfgang schaeuble was ready to leave the summit.not have the deal after yanis varoufakis cause back to athens and asks to retake the floor. they ended up not having any sort of agreement. the only agreement we had was talk again on monday. the leaders are in brussels today. guy: thank you very much indeed hans nichols joining us from brussels. francine: tough questions late at night bad hans nichols! doing a great job. guy: yanis varoufakis you never quite know how it is going to go. francine: today's corporate stories. a solid fourth-quarter for credit suisse. a return to profit. a dividend was the surprise part of the release. manus cranny is in zurich, where he spoke to the credit suisse ceo. manus: a lot of people thinking they would have to cut the dividend. it is the biggest one-day move. he is moving to deleverage the bank and holding firm on the dividend, which is the key piece . brady dougan: we had a strong operating results are the business continues to perform solidly. on capital generation, we had a target for the end o