. >>> niklas is an economics professor at new york university stern school of business and says the greek debt crisis exposed the flaws in the eurozone, which limited greece's ability to get out of the debt crisis. >> the euro was set with a set of rules. the biggest country that was willing to stick hard to the rules is germany. there's a smaller country finland and the netherlands which forced hard for the strictness of the rules. the problem of the euro is that if greece gets a deal that is far off from rules, other countries will demand the same, and soon the rules will be completed different. that is the problem. the euro was premature. the - there is no tax union, there's no transfer union in the european, in the eurozone so because of the euro and because the countries don't have flexibility to change the exchange rates, more or less very have to grow and therefore the activity has to grow at the same pace. you can have a big operation like greece where productivity do not grow while in holland and germany, grew a lot. these are innerent problems. doesn't mean it's dead it's diffic

. >>> economics professor at new york university stern school of business says the eurozone's inherent flaws haven't helped greece's debt problems. >> the euro was set with a set of rules. and so far the biggest country that is willing to stick very hard by the rules is germany. there are install smaller countries, for example, finland and netherlands. if greece gets way far from the rules, then the rules will be completely different. so that's the real problem. the euro was premature. the be -- there is no tax union there is no transfer union in the european -- in the eurozone. so because of the euro, and because the countries don't have flexibility to change their exchange rates, more or less they have to grow and the prohibitingivity has to grow at the same pace. and you can have big aberrations like greece where the productivity did not grow. where in holland and germany grew a lot. so these are inherent problems of the euro. doesn't mean the deal is dead, just means it's difficult and need a lot of management. >> eid festivities as they mark the event on saturday. and pressure mou

. >>> nicholas is an economics professor at new york university sterns school of business. he says the greek debt crisis has exposed the flaws in the eurozone. >> the euro was set with a set of rules. so far the biggest country that is willing to stick very hard to the rules is germany. there are smaller countries, for example, finland and the netherlands that can also push very hard for the strictness of the rules. the real problem i think of the euro is that if greece gets a deal that is way far off from the rules then other countries are going to demand the same. and very soon the rules will be completely different. so that's the real problem. the euro was premature. there is no tax union, there is no transfer union in the eurozone. so because of the euro and because of countries don't have flexibility to change their exchange rate, more or less they have to grow and productivity has to grow at the same pace. and you can have arrangements like greece where the productivity did not grow. so these are inherent problems of the euro. it doesn't mean the project is dead. it m

nicholas from new york university's sterns school of business says this may be greece's best option. >> it is not optimal, it's not the best but given the alternative, it is very good. let me explain. the alternative is for greece to leave the euro. and that would be a total disaster for greece. the banks would collapse. people would lose their deposits in the bank. they would all be terrible things. it is not perfect, it has too much taxation and not enough cutting of spending if is high spending low taxation. never the less given the circumstances, that deal is much better than the alternative. additionally it is the hope that all european nations will agree to a reduction of the debt burden through an elongation over the maturities of a very big debt. >> that is soon to be in the hand of european creditors to decide what is next. you're watching the cnn news room. one of the pope's former ambassadors is facing child criminal sex charges. on ancestry i was really surprised that i wasn't finding all of these germans in my tree. i decided to have my dna tested through ancestry dna. t

[applause] the democratic presidential front-runner, hillary clinton, speaking at new york university's stern school of business. outlining her economic priorities. scarlet: great detail proposals earlyhe former first lady on in the campaign with her opponents had not come out with anything quite so complex. she said we are all like audible to the american people to get the facts right. the reform of capital gains taxes. the influence of some activist shareholders must be addressed. she says reforming executive compensation is also one of the priorities. 30 years ago coming second is made about 300 times with their workers do -- scarlet: she said everyone did find just then and they will do fine now. in all have more analysis bit. we do have some breaking news right now. square, the mobile payments company has filed confidentially for an ipo. comments,o have some some other information on bloomberg.com. square processed 30 billion payments back in 2014. into other expanding areas. payroll processing, business spending -- business stay with bloomberg television. we will have more details on th

hillary clinton will be speaking at new york university stern school of business to fine-tune economic and fiscal policy plans she outlined in june. specifically, she wants to tax short-term capital gains of wealthier taxpayers at a higher rate but at a sliding scale to lower tax rates on longer-term gains. she would compel activist shareholders to emphasize long-term value and use taxes to incentivize executives to do the same. if that wasn't enough, she wants companies to disclose stock buybacks more quickly, not just at the end of every quarter, so investors can better tell when a buyback used shares. betty: what do investors in the 1% make of her specifics? our guest is joining us on the phone, chairman and ceo of the investment firm peebles corporation. very involved in politics. he is a prominent democrat, the supports candidates from either side of the aisle. he is a political donor. he is also the vice-chairman of the congressional black caucus foundation and joins us now on the phone. peter coy.s, peter, i want to start with you. scarlet just outline the four things killer cli

clinton just wrapping up her second major economic speech 40 minutes ago at the stern school of business at new york university. the democratic front runner for the 2016 presidential nomination touching on economic topics from raising wages for middle-class americans to attacking corporate culture. here is the thing, clinton began with a statement about the news of the day. cut money from personal accounts illegally, the county used as secretary of state. the market's closing out the week to the downside. lows of the session, left from an hour from the closing bell and let's start the countdown. hillary clinton talking got her plan to target the top half of 1% in this country by hiking capital gains taxes. the move may satisfy her wall street backer's it may make her a lot of enemies. senior washington correspondent peter barnes joins us with more ended details on what mrs. clinton is proposing. >> candidate clinton is posing a progressive scale for capital gains taxes for wealthy americans. we are waiting on paper for all the details out there after her speech today. i like to see the paper but according to w

. >> on friday, hillary clinton spoke at the stern school of business at new york university. and during her speech she unveiled a proposal to get corporations to invest in workers to increase prosperity. this is just over 40 minutes. >> hillary rodham clinton. [applause] hillary: thank you. thank you. hi hi. thank you all very much. thank you. thank you. thank you. thank you very very much. i want to tell you it's wonderful being back here at n.y.u. and i thank you all for joining me today and especially my good friend and former colleague, congresswoman carolyn maloney. thank you very much, carolyn, for coming. i am grateful for this opportunity to share some of my further thoughts about the economy and the work that our country needs to do in the years ahead. first, i want to say a word about what's in the news today, and it's because there have been a lot of inaccuracies as congressman cummings made clear this morning, maybe the heat is getting to everybody. we all have a responsibility to get this right. i have released 55,000 pages of emails. i have said repeatedly that

allylan stern needs no introduction so i will go to the project scientist from the john hopkins university physic laboratory followed by the co-investigator in flag staff, arizona, and followed by kathy deputy project scientist from the southwest research institute. and john spencer, another new horizons co-investigator from the southwest research institute. and with that, alan it is all yours. >> thanks! i had a good day yesterday. how about you? [applause] new horizontal is now more than a million miles on the other side of pluto that is how fast we are moving. having the closest approach yesterday morning. the spacecraft is in good health communicating with the earth again for a number of hours this morning beginning about 5:50. we got data from the five scientific instruments already and we will report on some of those results but we are just skimming the top of it. there is a lot in just the things we will talk to you about. we have big news. from the first resolve image of pluto's outer most moon the discovery that chiron has been active. go ahead. [applause] and there are mountains

university is closed and on lockdown in cleveland tennessee. bradley square mall is on lockdown from possible shooting. i have not heard that again but todd stern reporting it is on lockdown. the bradley county court house is being guarded. major religious organizations are based in cleveland and they are all on lockdown. let's go back to chattanooga. chattanooga state we know is on lockdown early on sending out main campus wide alerts to their faculty and students to please stay indoors and locked. all of this indicates from jennifer griffin that there would be an active manhunt going on. we know someone in a gray or silver car sped away from the location of the original shooting. so as we kind of put this story together we know there are at least two towns in involved in terms of how law enforcement is reacting. but the overarching headline is what the mayor of chattanooga said. this is a horrific scene playing out in the state of tennessee. cleveland chattanooga, on lockdown and you can imagine what the communities are going through trying to find the active shooter. we are confirming only a police officer is down. we are staying on this and

stern new horizons principal investigator southwest features institute in boulder, colorado. randy gladstone to investigateo at southwest research institute in san antonio.bel, n frances bagenal university of ra colorado boulder. and jeffrey moore coinvestigator at nasa's amescaliforn research center. dr. green, chickasaw.off. chickasaw. >> thank you very much, thank you. today will talk to s omebody fantastic discoveries about the heart of pluto.pluto. but before we start what i would like it is really talk a little bit about the heart of the new heart horizons o mission. horizo for someonens to to thank apl thank been done from them. apl hosted a fabulous event that many attend personally but million millions attended on the internet. the heart of new horizons is beating and beating well and still was put on and produced by the department of energy. one of our major government partners and they enable us to move out into the solar system and on the trajectory to leave. if i can have our first graphic, here we see new horizons past pluto. this is through the solar system you can get access through to the web. as you can see it is more than two million miles away from pluto. for ten yea

it all comes down to is an enormous team of people led by alan stern, principal investigator on the debate team at johns hopkins universitypplied physics lab university of colorado, the list goes on and on. hundreds of scientists engineers technicians people are selling blankets to prepare the wonderful intrepid explorer the first to visit pluto and fly beyond into the kuiper belt. true exploration. so glad you're here to participate in the period this disappeared. that view is just the first of many many rewards that the team will get especially since pluto didn't turn out to be a relatively featureless planet with nitrogen foggy atmosphere and we are scratching our heads thinking okay, what are we going to do with that. pluto has turned out to be an extraordinary complex and interesting world. that was never a certainty, but now for the very first time we know that and went back for his first impression i would like to turn it over to alan stern. [applause] >> well, i want to thank john for his remarks and thank nasa for making this all possible. how about that? [applause] 50 years ago today the united states is embarki

all comes down to is an enormous team of people led by alan stern, a big team here at the john hopkins applied physics laboratory, university of colorado the list goes on and on. hundreds of scientist, engineers, technicians, and people sewing blankets helping the explorer to visit pluto and fly on beyond. i am so glad you are here to participate in this true exploration exploration. that view is just the first of many, many rewards the team will get especially since pluto didn't turn out to be a featureless planet and we are scratching our heads thinking what will we do with that. pluto is an interesting world. of course it would be but it was never a certainty but for the very first time we know that and with that for his first impression i would like to turn it over to alan stern. >> thank you. [applause] >> well i want to thank john for his remarks and nasa for making this possible. how about that? >> 50 years ago today the united states was embarking at the beginning of an era of exploring the solar system that will live forever in history. 50 years ago the first spacecraft flew by mars and on that anniversary we compl

stern, new horizons principal investigator in boulder, colorado. michael sommers, new horizons investigator, george mason university, fairfax, virginia. kathy -- new horizons deputy scientist, also at the southwest research institute. and william mckennitt, washington university in st. louis. with that, i will turn it over to jim. >> thank you very much. july 14 was very historic for nasa with our very successful flyby of the new horizons spacecraft. and we are just 10 days from that, and yet we have only had about an opportunity to see about 5% of the data. as many know, we stored that data on board as we flew through the system and it is just now starting to come back. each and every day, the science team has been huddled, looking at the data as it comes back and is always surprised and it is just quite a pleasure to be part of that team, to look at the data when it comes in, and see the new discoveries that are coming out. we are looking at some of the data that has come in within the last few days. it is also data that happened and was taken on board stored prior to the encounter. and it's post-encounter, after the spacecraft had

alan stern the principal investigator at southwest research institute in boulder, colorado. michael sommers george mason university fairfax, virginia. kathy olson, deputy scientists also at the southwest research institute. and william mackinnon washington university in st. louis. with that, i will turn it over to jim. jim: july 14 was very historic for nasa with our very success ful flyby of pluto. we have only had about 5% of the data. as many know, we store that data on board. it is just now starting to come back. each and every day, the science team has been huddled looking at the data as it comes back. it is always a surprise. it is quite a pleasure to be part of that, to look at the data when it comes in. and see new discoveries coming out. today, we are going to talk about the latest data that came in the last few days. this is a spectacular set of data. it is also data that was taken on board prior to the encounter. and it is post-encounter. after the spacecraft looked back as it was hurtling away of more than 60 kilometers per second. these are amazing discoveries. without further ado let me turn it over

allen stern, new horizons principal investigator at southwest research institute in boulder, colorado. michael sommers, new horizons coinvestigator, george mason university, fairfax, virginia. cap field can, new horizons deputy project scientist also at the southwest research institute. at the new horizons investigator at washington university in st. louis. with that, i will turn it over to jim. mr. greene: thank you very much, dwayne. july was very historic with our flyby through the pluto system, and we are 10 days from that and yet, we've only had an opportunity to see about 5% of the data. as many know, we stored that data on board as we flew through the system, and it is just now starting to come back. each and every day, the team has been huddled looking at the data as it comes back, and it's always surprise, and it's a pleasure to be part of that, to look at the data when it comes in and see the new discoveries that are coming out. today, we're going to talk about the latest data that came out in the last few days. this is a spectacular set of data, but it's also data that was taken on board stored prior to the encounter and its post-encounter aft

stern, new horizons principle investigators at the southwest research institute in bolder, colorado. brandon gladstone, co investigator at southwest research in san antonio. fran begenal, new horizons coinvestor at university of colorado, bolder and jeffrey moore new horizons at aims research center in california. with that turn it over to you dr. green to kick osus off. >> thank you, dwayne. we will talk about the fantastic discoveries about the heart of pluto. but before starting that i would like to talk about the heart of the new horizons' mission. first, i want to thank apl for all of the work they did for making this happen. there are kinds ofthis that have been done from them. apl hosted a fabulous event that many attend personally but million millions attended on the internet. the heart of new horizons is beating and beating well and still was put on and produced by the department of energy. one of our major government partners and they enable us to move out into the solar system and on the trajectory to leave. if i can have our first graphic, here we see new horizons past pluto. this is through the solar system you can get access through to the web. as you can see it is more than two million miles

stern, new horizons principal investigator, the southwest research institute in boulder, colorado. randy gladstone, new horizons coinvestigator at southwest research institute in san antonio. friend bag and all university of colorado, older. and jeffrey moore, at nasa's ames research center. turn it over to you, dr. greene, to kick it off. dr. green: today we're going to talk about some of the fantastic discoveries at the heart of pluto but we will talk a little bit about the heart of the new horizons mission. i want to thank apl for all the work that they have done making this mission happen. there's a whole series of contractors and industry community that has made this mission the spectacular success that it is. apl hosted a fabulous historic event this week that many attended. millions attended virtually. which has really been captivating. in particular, the heart of new horizons is beating and beating well and beating still. was put on and produced by the department of energy, one of our major government partners with its radioisotope power, enables us further out into the solar system and is on a trajectory to leave. currently, if i can have our first graphic, here we see new horizons past pluto.

alan stern the new horizon investigator of the at the southwest research institute in boulder colorado. michael summers the investigator at george mason university, fairfax virginia. kathy new horizon deputy project scientist also at the southwest research institute and the new horizon investigator at washington university in st. louis, so with that i will turn it over to jim. >> thank you. july 14 was very historic for the national flyby of the horizon spacecraft and we are just ten days away from that and we've only had an opportunity to see about 5% of the data. as many know we store the data onboard as we flew through the system and it's just now starting to come back. each and every day the science team has been looking at the data as it comes back and it's quite a pleasure to look at the data when it comes in and see the new discovery is coming out. today we are going to talk about the latest that came in in a few days. this is a spectacular set of data that it also happened and was taken on board prior to the encounter after they had an opportunity to fly through the system and look back to pluto as it is hurtling away at more than 16 kil