german chancellor sipras was subject to extensive water boarding. the deal that may finally all come together if things continue on as they appear to with possible legislation later in the week will be a much tougher deal than the greeks and referendum voted no to last week. it isn't clear, it's in fact sipras have the ability to push through legislation this week when he went for it on friday and got preliminary approval for a deal he lost 17 mps who march add ed away from his party. >> all that and they have to figure out how to avoid another bank meltdown. will banks are running out of money. amy kellog thank you so much. >> back here at hoement, another presidential hopeful getting ready to join the crowded field tomorrow. this is gop candidates are in the race to set themselves apart from a growing pact. we have more details from washington. >> presidential hopefuls continues to vie for face time in iowa and new hampshire and another republican jumps in the fray wisconsin governor scott walker is anticipated to make it official monday regardles

p particulars sipras--mr. sipra--mr.tsipras will return to the negotiation. >> germany has benefited from the euro but pays more into the e.u.u. than any other country. dominic kane examines whether the eurozone has been a help or a hindrance. >> a guided tour around berlin's museum with its relatively simple spents it seeks to explore the ideology. the organizers believe there is lessons to be learned. >> it's a crisis of capitalism, and capitalism is what makes people suffering. i think this is a connection connecting the museum to the crisis. >> when it was created it was meant to bring europe together. as colonies converged so they would benefit from being part of one zone, one interest rate and one economic policy. and in some countries notably germany it has brought prosperity. greater competitiveness a has often given germans the edge over their counterparts but that has brought problems to journal europe as one by one they've needed to be bailed out by the institutions. in germany the opinion is divide

the creditors will have to trust and negotiate with the person who's leading greece and that person sipras? kit: the creditors who have not had an easy relationship with the borrower here. you don't have a process for getting rid of him through the greek people. i can promise you whatever the outcome of the referendum on sunday, there's a ton more uncertainty coming over the next few weeks. what happens if the greek people vote yes, how does -- how does mr. tsipras go back to the negotiating table but how does anybody else get rid of him? if the greek people say yes, they're saying yes to what, a deal that's now expired. if the greek people say no, what then? they're not going to take themselves out of the euro zone just all on their own. unfortunately while some of us -- there may be people in markets who would like to move on to a different story, we're going to be racked with uncertainty about greece for the rest of the summer. alix: and s&p had a great report out earlier this week and here are three deadlines you didn't know about for greece and what would actually constitute a default

behave,sipras has to like richard nixon negotiating with china. sometimes, there are people who you would not expect to make the u-turn, but are the most appropriate to do necessary things. approval fromhaps parliament, and this will wash with the people, who say that he is a traitor coup capitulated? >> there are some people. now we will find this kind of anti-european, let's say, faction. i think they already have found some. do, het tsipras has to has to find his allies in the pro-european parties. how much damage has been done to the economy over the past two-plus weeks of banks being closed? >> we cannot speak to the numbers, but the impression i have speaking to people in the city, we have very heavy damages, especially into her wars him. that is sad. all the forecasts before this crisis would be that we would have the biggest tourist season of all time. anyways, i am confident and optimistic. that was olivia sterns speaking with the mayor of athens. mark: coming up, nobel winning prized economist paul krugman willd schultz -- phelps join us

jack lew became an ally of sippers yesterday when he said -- ally of sick sitt sipras yesterday. the timing of it was significant -- have a listen. >> we have always advised that the program walk on two legs, if you will. one leg is about significant reforms and fiscal consolidation as we have advised in the case of portugal tsipras, latvia, iceland and it has worked. the other leg's debt restructuring, which we believe is needed in this particular case for it to have debt sustainability. hans: lagarde also pledged to be involved in any additional bailouts. mr. tsipras was in strasburg yesterday, and has been raging against austerity. at the same time he is really against austerity, he said this letter -- it is significant that it was a three-year request. before it was always a two-year request. he talked about how he wanted to implement these measures almost immediately, as early as next week. he did hint that he is going to require debt sustainability, some debt restructuring. he put it in presley friendly terms -- this was in demanding. he said the opportunity to discuss debt

his argument seems to be that this would authorize via ct sipras. anna: amazing story, thank you.oming up on "countdown," orange reports earnings. we will bring you an exclusive interview with the company's cfo. ♪ anna: welcome back to "countdown." you are watching bloomberg tv at 6:30 in london. we just had numbers from orange a mobile phone operator concerning their for your target depreciation, they say, has come in at 3.2 9 billion euros, against an estimate of three 3.14 billion. the sales is also just ahead of estimates. the cfo is saying this morning that they have "room to maneuver on andm&a." there's a lot to talk about in m&a with this business. talks are only just starting. there are more customers and synergies coming through from the cfo. speaking of which, let's talk to the cfo. he joins us now on the phone -- great to have you on the phone this morning. to wonder if you can give us an update on current trading as it stands at the moment in the french market and elsewhere -- how are things shaping up for orange? >> good morning. things aren't very good for orange, be

it is interesting that both suppress and the finance sipras and theth t finance minister saying thatot an exit from the eurozone. we are going to hear more from alexis tsipras after this short break. ♪ frederic: whatever the situation at the end of the day, europe can handle this. the greek economy is totally different. so what is important to say is that greece is actually small, but it is true that the problem is complex. socgenat was the ceo of talking to us last week. he was talking about how likely the impact the greece referendum would have on the eurozone. can the eurozone handle alexis tsipras, the greek leader emboldened by the referendum this weekend? percent voted for him, voted no, but when he spoke earlier on state television, he may be tried to downplay that victory. thee minister tsipras: result today does not have winners or losers. it is a great triumph on its own. altogether, we rode a shining episode into european history. we proved that even in the most difficult situations, europe cannot be threatened and democracy cannot be threatened. we proved that when a coun

euro area leaders also on citrus to move ahead with -- also want to sipras to start talks over bailouta's june exports are up for the first time in four months. overseas shipments rose 2.1%. this is fresh evidence that chinese growth is stabilizing. iran may be close to reaching an nuclear deal, and it could be announced as soon as today. one of the biggest decisions was resolved on sunday. a senior diplomat said a political agreement was reached on the arms embargo. john kerry had a working dinner with the foreign ministers from france germany, and russia. let's have a look at how the markets are performing. we start with a look at the foreign exchange markets. you might have thought that with all the weekend news 72 hours for comply to the greeks, that we would be seeing a crisis. it doesn't seem to be that way. we are above 1.11 on the euro-dollar. those games that were made on friday are still almost intact. it sounds like the equity market session is not seeing a great deal of attention expressed around the great story. the asian equity market is responding to other drivers, perha