other eurosceptics form an anti-eu block in the european parliament. first, if we are threatened, we will defend ourselves. that is russia's president vladimir putin who announced that moscow is boosting its nuclear arsenal. this is being seen as a response to u.s. plans to boost its military presence in eastern europe. this comes at a time of worsening relations between russia and the west over ukraine. we will go to moscow our respondent is there. the russians are making of, they have no choice but to expand their nuclear arsenal. this comes at a very sensitive time. reporter: the latest statement more than 40 ballistic missiles, it comes at a time when relations which in russia and the west are at their lowest and they are running very high. something that moscow has been denying continuously. because of russian annexation of crimea russia has become increasingly isolated globally. elitist comments come as the baltic countries are becoming nervous about russia's aggression in ukraine and they have asked many to increase their presence. this latest c

its creditors insist they will not hold negotiations on additional aid until an agreement is reached. >>> eu leaders have also made a plan to deal with an influx of migrants from across the mediterranean. they will relocate thousands of arrivals from syria. >> translator: we have agreed that the european union must ensure that the 40,000 people be relocated. >> they'll introduce a provisional measure to have the member countries accept the migrant who is arrived in italy and greece. the step is designed to ease the burden on coastal nations. under eu rules, countries where migrants land are responsible for them. an original plan to impose quarters for each faced strong opposition where political parties are gaining momentum. eastern european countries say they lack the economic capacity to accept migrants. the plan was drastically revised to let each country decide whether they will accept migrants. they will make a decision by the end of july on how many migrants to take. >>> the united nations is cutting its budget for peace keeping missions. the general assembly has unanimously approved a

we have had confirmation from an eu source that the ec commission president tabled an offer to the greekst the very last minute. it has also been reported that the offer included consideration of stretching out the terms of greece's long-term debt. this is a sticking point with alexis tsipras. no discussion about cutting the principle and the greeks live with a debt of 1.77% of gdp. and alexis tsipras said he would be voting no on sunday and leave it to the greek people and live with the consequences. and that means perhaps if it goes the other way and there is a yes vote from the greeks he would consider stepping down or there could be a call for him to step down with new elections. >> it's not the first time that greece has been down this road. for five years the country has been unable to balance its books. what could the implications of a debt default be and what about the outcome of the referendum. no matter which way it goes this is uncharted territory. >> uncharted territory and a test to the euro group overall. the greeks have been a member for the last 13 years. if the greeks dec

the eu can be an effective vehicle. campaigns across europe, the eu has brought measures against part-time workers the same rights. we must work to provide pensions and leave. eu has rules on working time and a guaranteed rate for paid holiday. these are significant rights instituted by the eu at a time when it was easier to demonstrate to people. we are living in a complex climate and the eu must in the straight -- demonstrate what it can to the economy. the initial polling suggests a yes result, but that is a way to go. we cannot be complacent. we need a clear result of support from across the u.k. the uk's continuing membership should move positively forward. i'm concerned that we will fall and a trap on focusing too much on talking. this runs the risk of failing the debate and let's not forget we should be tackling these the head on and building a consensus across the u.k. for our future in europe. those of us who support staying in the european union should concentrate our efforts toward making a case for it. i do u

some more ships are heading towards that area of the southern mediterranean an area that is under an eu mission called the triton mission. there could be more rescue missions on the hours or days to come. it is on the weekend when there is an uptick. when i was in libya when the libyan weekend that starts thursday throughout sunday morning there are less people on the streets and it's much easier for traffickers to transport the larger number of migrants from the empty beaches where they transparent from. if we compare this year to last year, there is an estimated 1 million waiting in libya to make this crossing. so certainly these arrivals are an indication that it could be a very busy summer for these ships that are patrolling the mediterranean. >> two day g7 summit, latest gearing up of fighting in ukraine, and for the second year in a row the annual summit is secluding russia. russia's absence is heralding the greater all ul pulled out against russia's annexation in crimea. dominic kane, without russia there you wonder what can be achieved on that hot topic of ukraine. >> reporter:

reporter: fears of a grexit, debt talks at an apparent standstill, in trouble with the rest of the eu, greece could be turning to russia for financial help. tsipras is in st. petersburg for the international economic forum . the greek prime minister is expected to meet with president clinton -- president putin on friday, and many expect both men will talk business. >> it's a great opportunity to convene both the russian and greek economy as well. reporter: this comes as eurozone ministers meet on thursday as creditors decide if they should unblock the last tranche of a massive a lot to prevent the country from going into default -- massive bailout to prevent the country from going into default. chancellor merkel: i'm convinced that where there's a will there's a way. if political leaders and greece show this will, an agreement with the european commission ecb, and imf can make it possible -- if political leaders in greece show this will. reporter: greece has less than two weeks left before it's bailout program expires. laura: it's too close to call in denmark according to exit polls.

stage, and then it has other stages to pass through but clearly, the united kingdom will be holding an eu referendum by the end of 2014. the speculation is that it could be earlier rather than later, so it could eat as early as spring 2016 or probably more likely autumn 2016. the conservatives would also the labor opposition party are supporting the bill, and i should underline that the third force, the scottish national party, they firmly opposed this bill. >> what do the polls tell us? what do british people think about the possibility of leaving the european union? benedicte: one of the latest polls on sunday was telling us that 59% of british people, british voters, were there to be a referendum tomorrow on if the eu should stay or leave, should there be a break -- 59% almost 60% of british voters are in favor of staying within the eu. the problem set -- the problem is that mr. cameron said a few weeks ago that he would endeavor to speed things along, that obviously, it would depend on the reforms that he could obtain that from brussels. one of the big really demands. they feel that t

they are attending an eu latin american summit in brussels today so this could certainly come up for discussion. athens had to pay over 1.5 billion euros to the imf. genie: the clock is ticking on that. how have the markets been reacting today? >> this uncertainty about greece has been weighing on the asian markets earlier today across the board. europe is seeming to shrug off those concerned a little bit. after a major step -- after a negative start we saw retail results pushing stocks into the green. the result is the athens stock exchange. it just had a rocky session. it is down a little over half a percent. genie: spotify is gearing up for a big battle with apple. >> apple unveiled its new streaming service earlier this week, and spotify has lost no time at all in upping its game. it has a fresh round of funding more than half a billion dollars. according to "the wall street journal," it brings spotify to a value of $8.4 billion, up from $5 billion last september. investors have believed to have triggered it but one internet company teliasonera -- it is protecting its corner of t

eu as other countries enjoy. cameron has set about details as to what we want to see, opting out of an ever closer eu.he national parliament, which could have a negative effect on britain. questioning our relationship with europe is not a natural -- on natural, all relationships need question from time to time. but this is not helpful. we have asked our european partners to create a better deal for scotland and other parts of the u.k., but also the eu in general. we want it to work better. why doesn't the scottish government get behind this and help us deliver a better deal. i moved the amendment in my name, alex johnson. >> no -- i now call on -- to speak. >> thank you. i move the amendment in my name. i think the biggest impression is when we are open, positive, diplomatic and generous. of course, there have been periods when we have not been able to consign that. but we should be proud of what britain does and what they do best when we seek partnership rather than indifference. there is a hunger to share in opportunity and challenges that this world presents. and that is why i am pro-european. we s

greece could get its nest -- next slice of bailout money but only if it agrees to an eu deal on the table. the greek government said it would give people the choice in a referendum to be held sunday. thousands turned out last night in athens to back their government, saying they would vote no. just in the last few minutes we have been hearing that contact is reportedly underway between athens and brussels to try to reach some sort of agreement. let's bring in natalie's every guess. what can you tell us about this 11th hour deal? natalie: the developments -- some reports suggest that the prime minister's have traveled to brussels to meet with john jean-claude juncker. that the institutions would pay off the imf's 1.6 billion euro loan to stave off a bankruptcy, and that would allow the government, the greek government and the troika to negotiate to avoid the referendum. and avoid the long and protracted state of in and out default. genie: let's talk more about the situation on the ground where you are in athens. thousands turned out last night to back their government, saying they would sa

eu council for them to be strengthened? at the summit the prime minister acknowledged that sanctions are also having an impact on those who are imposing different sorts right of the g7 there's a great that more must be done to support those eu member states who are being particularly effected or can he tell the house what this could mean in practice? he referred in a statement to the fight against isil and we have seen the horrors of what they're doing in mosul. it is worrying to see the disasters in recent particularly into ramadi. a strong and united approach of tackling isil continued the vital. we back the uk contribution towards the effort and broken to extra 125 military trainers being sent to iraq at the request of the iraqi premise to do as he said in his statement the iraqi government must be supported in their efforts to push the isil's advance and restore stability and security across the country. so is there a need for further accelerating the recruitment training and equipment of iraqi forces? an inclusive enduring political settlement is a vital. so can ask the prime minister if this is continue to press the ira

greece's prime minister is in brussels today following an offer to eu leaders that he described as a itive solution." area leaders will hold an emergency summit from 6:00 this evening u.k. time. after finance failed to agree on terms for unlocking an aide deal. demonstrators held a peaceful rally in athens. let's head out to athens now and join guy johnson. guy? guy: welcome back to athens. were trying to get a sense of what is happening here. this is an mp for the independent coalition let's find out exactly what we need to know. good morning. >> good morning. guy: have you been briefed on the deal? >> no, not yet. we don't have any information. guy: do we know whether pensions are on the table? . there are so many red lines >> some might be on the table. regarding the pensions -- [indiscernible] guy: what about an increase in taxation on large companies? this concerns about 10,000 different companies. the annual income will be more or less than a million. guy: do you get a sense that the government -- clearly, they are going to brussels to try and get a deal. how many red lines stil

. >> an eu court rules the bond buying program is not illegal providing comfort to investors as bond yields move higher on the threat of greek contagion. >> shares in air france klm hit an 8 month low after a bid to save 80 million euros. >> an ugly picture for henkel. reports that they may have outbid for some of procter & gamble's businesses. >> and learning with lego. we'll be speaking to them as they put millions of pounds in higher education. could this be the year of donald trump running for president? we discuss his prospects. and a stanley cup success. the chicago blackhawks celebrate their third championship in six years. we have the details on the clenching shut out. >> so welcome to the show. let's get to our top story which is greece. greece's government denied a report that it will impose capital controls this weekend if it doesn't reach a cash for reforms deal soon. it comes after the greek prime minister accused international creditors of pillaging the country for the last five years adding it was now up to them to come up with a plan to save athens from bankruptcy. >>

. >>> an eu official says the country's latest proposal was a good basis for progress in talks among euro leaders. over the weekend, the prime minister presented a new proposal to the country's creditors. i want to bring in nina dos santos for the latest on the greek debt talks. what was likely in that proposal from greece and how might it help avoid default for the country? >> at this stage we don't know what was included. but we have a fair idea based on the indications we have been getting as each side made clear where the red lines are. the greek government says that cutting back on key pensions that as you pointed out they have to pay by the end of the month was one point. the other thing that may well clinch the deal is the idea of debt relief. effectively, write down some of the debts. this country at the moment doesn't have a hope of paying that back even if it manages to pay the imf this month it has 6 billion year rows to pay in two months to institutions like the ecb. what we've seen is a bunch of frantic negotiations and phone calls between the prime minister of greece an

never a lack of mixed messages on greece but what we do know is that an eu source told us that he is due to meet with not only the german chancellor and french president but he'll also be meeting with the eu commissioner later today it's his first trip to brussels since omitting the counter dollar for the debt deal. some officials have said it doesn't go far enough however he was striking a different more confident tone speaking to the italian newspaper. he said look we're willing to give some move on the surplus targets but then again the other side says he hasn't really put forward any measures that show how they will meet those surplus targets and another sticking point is that greece is really saying they can give any ground on the pension cuts. they say it would be inconceivable to think about cutting out pensions for the lowest income sector in the population. still we really do think both sides haven't come to a deal yet. we'll have to see what happens to the talks later in the day. this is all happening on the side lines of a major summit between the european leaders and lati

eu membership. at the summit he seems to issue an ultimatum to his own ministers over the eu, only to swiftly withdraw it, saying he had been misunderstood. >> you have to take the view that we are engaged in an exercise of a negotiation that will have a referendum that will lead to a successful outcome. that is what i said. i feel that it was a misinterpretation. i said i would repeat what i said and make that very clear. but i think there is real unity behind a renegotiate and referendum strategy. genie: that is david cameron speaking at the g7 summit. in germany. that summit was also dominated by a new pledge to fight climate change. world leaders came out saying they are giving themselves 85 years to win their economies off carbon fuels through that is a shift so dramatic, one dramatic -- one analyst says it is as big a challenge as putting a man on the moon. nicholas rushworth has more on the hurdles ahead. nicolas: g7 leaders say they want to be carbonized the world economy, meaning that scenes like these -- pollution spewing into the atmosphere -- should be a part of the ancient past, a time wh

solid decision about what the proposals are and what they entail and that is likely to be taken a an euummit on thursday and friday to get a final agreement. and once we have that a new round of possible complications begin. then this new agreement will have to be taken first to the greek parliament something that we expect could happen as early as this weekend. and only if it's ratified there, then it will be taken back to europe where a number of national parliaments may need to ratify a new agreement. this is one reason why it's possible that an extension may be given. it's something that is very much talked about just to avoid some of these procedures. of course time really is of essence. greece's bailout ends at the end of this month on the 30th of june and greece would be without a bailout and without access to the markets and without access to external funding. this is what everybody is trying to avoid and it's the time that greece has to pay the imf the money it owes. if it doesn't greece could be defaulting. by now we have seen so many rounds of talks. the optimism is there tha

and then of course once a decision is reached, possibly at an eu summit this week it has to be ratified and first it has to go to the greek parliament. that's where we are likely to see more comp caselications. the hard left of the government may not agree to these measures. the drama is not yet completely over and we still have to see how this is going to play out internally in greece but also in the other european countries as well. >> i want to follow up with you on that point now that we mentioned the internal greek options. some experts think if there is a default here it doesn't niecely equal a grexit but what are the implications for europe as a whole. >> it doesn't necessarily amount to a grexit but it would depend how this is arranged. there are many technical ways of defaulting and we are not sure what this would entail in the case of greece. but for europe it can only be seen in negative terms. it is the first time we could see something like that in a european country. it would put into questions the ideas of european unity and solidarity. we are seeing europe becoming more

an eu spokesperson says in part we kconsider this measure arbitrary and unjustified. >> an unnamed official at russian foreign ministry told the russian new is a jaens, this was done as a rinse to sanctions campaign unleashed by russia by germany led countries of the european union. the eu imposed sanctions march of last year. remember after russia annexed crimea. we will have much more in the next hour with a live report from moscow. >> for now, let's take a very short break. still to come on cnn, mysterious shootings leave of a community on edge in one u.s. state. police now say they have caught a break in the case. >> also coming up. beijing residents will find it harder to light up this week. a live report on the new smoking restrictions there. >> and bad weather is delaying a solar powered plane on the toughest leg of its journey around the world. remember senate we'll have mr. on it when we come back. remember that? we'll have mr. ore on it when w come back. >>> a warm welcome back. police in windsor, colorado found evidence connecting two mysterious unsolved shootings. >> one rultd e

know, back in may 2005 and june 1, the dutch and the french, the referendum that would have ratified an euaty at lisbon we can modify it. in the end the two failed referendums could be in large part a reason why we've ended up with the greek tragedy that we have today. it's very easy for us as business channel to look at the markets. what gives a small group of men in a political class the latitude to take over the population of sovereign countries economically? now it might sound rhetorical but it isn't. did they accept loans? yes. who are the they i'm referring to? did any of the populations ratified a constitution? they did not. how many of you paid close attention to the recent supreme court ruling or obamacare with the fact not one republican voted for it or the federal reserve going into the gray. at the beginning of the crisis. so what is the lesson to be learned here? $72 billion with puerto rico. $35 trillion extra debt since '07 and '08. how many of you out there voted to put your children at risk for that? i don't see a lot of hands going up. now i understand as populations they

the president holland is on his way back or will be shortly from brussels where he's been at an eu summit we may hear it in a half hour or so. he's arrived on the scene and we'll be hearing from him anytime, any moment now to give us a little more background and confirmation of what we have been hearing from reports. you have the center of the report right there. they found one victim dead a decapitated body. the head was apparently attached to a fence outside this plant. two men drove into the plant shortly after 10:00 low tall time this morning, crashed through barriers and there was an explosion in their car. this plant is in a very rural area and makes compressed industrial gases. i guess, probably they thought it would be a good idea to set off an explosion in a plant like this because there might be secondary explosions. there was not. there was a fire that was put out. the situation is under control there. they have arrested one person according to bfm, our sister affiliate in paris, they arrested one person in the car for the attack. >> jim bittermann in paris, thank you so much.

together it will give them more weight in the european legislature and add more of an anti-eu bend to proceedings. it will come under the leadership of marine le pen. >> i am delighted to announce creation of the group. the group will have political strength that his incomparable with our previous situation. it is the result of one year of hard work, but also of our desire not to give into questionable alliances. the makeup of this group is good news for our own factions, but also for our countries, for our people, and for freedom. molly: now for more on the story, we go to france 24's correspondent standing by in brussels. most of these parties failed to find enough unity and cohesion to form a united group. that being said, how do they manage it this time around? >> they did make gains or marine le. marine le pen won 25% of elections. groups around europe already have five groups. a number of negotiations and meetings the polish congress of the new right, as well as in english mep. and the independence party. she was actually -- she had to leave her group after she was involved in a

many people in scotland would see, it shouldn't be possible for scotland's voice to be overruled in an eu referendum. and that's why the scottish government is arguing for a double majority in that referendum where the uk could only leave the eu if each of the nations vote to leave e that sort of territorial requirement is often used in federal countries like canada and australia. and i think it's time to apply it to the united kingdom to give meaning to the phrase that the uk is a family of nations. i said last fwheek a speechl in brussels if scotland does find itself taken out of the european union against a vote to remain in. it could produce a demand for another independence referendum, which may well be unstoppable. but i would argue, and do argue that the uk government has it within their power to remove that possibility by agreeing to the double majority provision that we're putting forward. the referendum legislation could dem rate what we are so often told, that the uk government does see the uk as a family of nations, and i would posit that that would be one very clear way in wh

it escalates risks before any you meeting --an eu meeting. the ruble fell the most in six weeks after ukraine's military said separatists attacked a town in the donetsk region. you can find more on that story at bloomberg.com/europe. this is where you will find me on twitter. do tell me what you are following today. the fifa story continues. the plot thickens after the revelations from chuck blazer. coming up tomorrow is the day that a payment comes due from greece to the imf. ♪ mark: another day, another round of talks. so far, no resolution in the standoff between greece and its creditors. prime minister alexis tsipras rejects proposals that would facilitate the release of bailout funds. when asked about the payments due to the imf tomorrow, tsipras told reporters, don't worry. let's get the details on all this. the chief strategist and head of asset services at rell. hello, francois. don't worry, are you as we lack mr. tsipras seems to be? >> i believe that you need to be careful with germany. germany has strong demands from greece. i thin

you can see some ways where you have an eu-ecb agreement and lagarde does not sign off, that is tough germans have been consistent that you need the imf. tom: guy johnson in athens and hans nichols in brussels, thank you. we need perspective and we get that from gideon rose. europe is fixated on the moment, the greek people want to stay in the eu, no doubt. there's a different view, the experiment of europe. we will talk about your robotics effort in a bit. how fragile is the european political experiment away from finance and creditors and debtors? gideon: i would have said not that fragile. all these leaders aren't playing games. it is almost like the israelis and palestinians. everyone can see what the deal should be by the parties have a hard time getting there. tom: what do we need to see from the germans? the history, there seems to be a new germany. gideon: germans have to understand that they lose big if this goes down the tubes. they have to be willing to give the greeks something in return for their aid. tom: let's look at the larry summers quote. "the new york times" brothe

betty: eu leaders will hold an emergenc emergency meeting. they may have to default if there is no new deal. vladimir putin says his country is weathering the economic crisis better than some expected, especially with the challenges from swapping oil prices. insident putin appeared saint petersburg earlier today. end ofnt putin: at the last year, many people predicted deep crisis in russia. this has not happened. we have managed to stabilize the situation. line across the negative situation fluctuations and we are successful in going through the difficulties because the russian economy has accumulated the inner strength quite well. president putin also says his government has maintained control over inflation and has

the buildup comes ahead of an eu meeting later to review sanctions imposed on russia.e: today's twitter question. we will hear from one of the "freakonomics" co-authors. should politicians be paid more? tweets us @guyjohnsontv and @flacqua. unemployment out of greece 25.6%. guy: and even more startling youth unemployment. that number highlight it. ♪ francine: welcome to "the pulse," live from bloomberg's european headquarters in london. we are back with andrew. talking about greece. you think we are not going to find an agreement. this will be rolled over. we will have a series of defaults. what does that mean for the markets? are they going to freak out? is there going to be a lehman brothers type moment? andrew: once you have a series of defaults and moved to a grexit the markets will not like that. there will be initial turbulence but i do not think it will spread wide. after an initial period they will get the idea that it was better. the medium-term, you come to a more decisive resolution to the eurozone question. you can move more towards the franco-german propos

francois hollande is heading to france from an eu summit after a brutal attack, a man decapitated at a gas factory with arabic letter nearby. the french president said a suspect is under arrest. loud explosions were heard near the factory. right now, it is unclear whether there are more victims. >> the state department cannot find 15 emails from former secretary hillary clinton's private email server. they were requested investigating the 2012 attack on the u.s. mission in ben gas libya. it's not clear if the emails were connected to that attack. >> the california state assembly mandated all children receive vaccines. it only allows for medical exceptions. governor jerry brown has not said whether he will sign it into law. >> investigators this morning will try again to get to the site of a plane crash in alaska. all nine aboard died after it slammed into the side of a cliff. >> the pilot of a search helicopter reported finding wreckage at a cliff 800 feet an alaskan lake. all aboard died in the crash. they were on an excursion from a ship, which left seattle on a week long cruise. s

tsipras has apparently backtracked on what the numbers should be according to an eu official familiarith the matter. they seem to have some sort of agreement or at least knew where alexis tsipras was heading. agreement was the wrong word. apparently, this new proposal which was quickly rejected by brussels, makes new demands. they want access to some 10.9 billion that was left in the stability fund. that was what was left from the money meant to save the banks in some disastrous scenario. then you have the -- a want to allow greek banks to finance themselves and to buy more short-term government debt a little bit more easily. and crucially, a new request for new funds from a separate bailout mechanism, the european stability mechanism, which be about 6.7 billion euros. that is what we have, a three page document which was pretty quickly rejected by brussels. this meeting looks like it will take place on the sidelines of this brussels summit. we also had mr. showing the -- with my one man saying that he thought it would be daft to play the blame game looking into the past and greece is

eu? is this political? would you go as far as the say this is protecting us or are there real legal issues? eileen, you take it. eileen: as an american being here in britain as part of the eu, to me and looks largely protectionist and politically motivated. the precedent of eu having done this before -- in both cases it was american companies. it strikes me as this probably would not happen if these companies were european-based were founded. or founded. emily: google does own 90% of the search market in europe. andreas do you think this could have a real impact on google's business, the bottom line or will they really be compelled to

i didn't puerto rico it's difficult is are a problem the way greece's problems are not an eu problem. greece could leave the eu. puerto rico it's hard to imagine if beating the united states. it's kind of with us. whether we like it or not. now, in terms of the similarities and differences first of all neither one has a really competitive economy in a global sense. and in both cases because they they're having to operate with an oversized economy. sluggish economies, high unemployment and burdensome regulations. puerto rico of course has been losing population, i think i don't know what the population situation is increased but it's hard to imagine that it's attracting many folks these days, given its problems. and, of course those are heavily subsidized in different ways by what i will call their parents, the u.s. and eu. and then you can finally very high debt to gdp levels. and hero of course we see a chart as to how the greek government debt to gdp has risen up to now close to 180%. .. we have to attribute this to the "financial times" published about a month ago and it doesn't sh

you heard from an eu official last night talking about the need for honesty, taking a look where everyone is. we do have progress on emergency liquidity assistance, the bank had a lifeline of 1.1 alien euros. that is on the positive side. merkel will be addressing parliament later. the prime minister meets with putin tomorrow to talk about the gas pipeline and the what kind of progress there. in the latest on the public pronouncement that he wants to stay in the euro, but there is no progress, no offer or proposal -- everyone is expecting a short meeting your luxembourg with recriminations to follow. anna: thank you very much. hans nichols, international correspondent in luxembourg. the other top story of the morning came out in yesterday's meeting. the fed has signaled it is on track to raise interest rates later this year. he has the key take away from the address. >> after the latest two-day policy meeting and washington the federal reserve moved a big step closer to the first interest rate increase since 2006. the exact timing remains in play. janet yellen says progress has been made

we have an actual eu leaders meeting that will start shortly. they will be pressing mr.sipr as on those proposals. it has to be to ask for anything to be done at the finance minister level. they need more detail. the need for more detail -- they are fighting against time as always. olivia: fighting against time once again with the greek debt saga. it feels like we are one minute to midnight. we are describing this as a last chance summit. is it really are what is the timeframe this week for developments? hans: in some ways, the ministers themselves have not been consistent on that point. thehe end of last week, eurogroup president was talking about how there simply was not enough time to actually disperse money before june 30. that is when this 1.5 billion euro payment is due to the imf. now they seem to be saying that there is enough time to get a deal done this week. there may be a difference in their and what a deal means. the deal could mean a continuation of the program. they still may not be enough money and the greek coffers -- in the greek coffers to transfer to

with asia and europe working on creating a transpacific free trade agreement as well as an agreement with the eu. the legislation allows congress to approve or reject entire deals without amending them. to find out what traders think how important is this transpacific partnership, first of all? >> what we have seen in the past couple of months or in recent memory to put it that way china becomes more dominant in the pacific region and it is rather important for the united states to strengthen their position in the region. and that is also the reason why finally, congress appears and is still a long way to go before a final deal will be reached. the team around barack obama would have to find an agreement with another 11 countries part of the pacific partnership. in the end congress has to vote yes to get the deal done. brent: in one sentence, what does that mean for the transatlantic investment partnership? >> what is important is barack obama got the so-called fast-track. we can also negotiate with europeans but it might be a further stretch because just look at the european union that they hav

the greek economy minister is confident that a cash reforms deal will be struck at an eu leaders summit tomorrow. speaking to local television he added that any agreement must be passed by parliament as soon as possible. however, reports suggest that prime minister could face a tough time getting some lawmakers to support a new bailout package. >> meanwhile a lawmaker in the junior coalition says it cannot support a deal which does not include debt relief. let's get out to steve live in athens. it's wednesday steve and no science of a deal. >> yeah but we haven't had that euro group meeting yet so there is action behind the scenes. let me put it very bluntly for our viewers, nobody likes this deal. that's the truth of it. the creditors don't like it the germans don't like it the imf doesn't like it and the parties back here don't like. even from democracy and the community communists. i have spoken to a whole array of politicians and not one person has turned around to me to say they really like this deal. will they vote for it? that's a different issue as well but there's some absolute

behind the scenes european policy makers are working to come up to a final agreement ahead of an eu summit on thursday. euro zone finance ministers will discuss the latest proposals. but the divisions between both sides are clear. >> our criteria is financial viability, sustainable debt and strong loaded growth package. we use a common phrase on these equations. the ball is in the court of the european leadership. >> it is still short of everything that should be expected. short on time and low on work. >> it looks difficult to pass. this after a warning that the greek parliament would have to accept the bailout terms first and foremost. steve, i suppose the markets rallying regardless of the fact that we still haven't got a deal. >> yeah, we haven't got a deal. looks like more likely than not we'll get a deal but i spoke to them this morning. doesn't like the deal. a lot of people don't like the deal. i'm not sure it's the right deal. let's talk about the economics on the table so far. we're joined by a professor at athens university. every poll situation i have spoken to and every expert

the eu says it is an arbitrary and unjustified list. manus: what do you think this might mean for sanctions? for the eu with russia. jones: right. from the eu side, they have said clearly over and over that the agreement is the basis for any change in the sanctions against russia. the eu program of sanctions comes up for review in july. it looks like they are going to renew it. we don't have actual confirmation of that yet. it looks clear that will happen. this list that we have is not going to help. it is not going to appease the europeans in any way. manus: jones, thank you. stay with us. we will be speaking to michael fuchs. he is one of angela merkel's key allies. that is live at 10:30 a.m. london time. anna: cap stores at this hour -- three u.s. by programs have expired over legislation to renew them. it is a first time since the 9/11 attacks that intelligence and agencies cannot initiate the use of these tools to monitor communications of suspected terrorists or seize records. the senate is expected to vote on wednesday on passing

would pay the 300 million euros due to the imf on friday after once again failing to come to an agreement with the eu officials on the budget cuts greece would need to carry out to unlock additional bailout funds. the site some scribing -- despite some describeing this is a take it or leave it, they said it was a hopeful tone. >> i am optimistic that from the site of the commission, there is the intention to go on with a realistic point of view. >> struggling to agree on budget surface targets and proposed cuts to the pension system. if he agrees to two months he faces backlash from his party. -- too much, he faces backlash from his party. >> it is a strategy of lifting austerity. remain within the confines of the eurozone. >> progress has been made in understanding one another. talks are set to continue. >> let's see how the markets are reacting. they are not least with what is happening in greece. pretty big falls across the european indices today. we are also checking what is happening in athens as well. shares down 2.5%. they do not like uncertainty. >> let's come back to france where they has be

they should leverage all three of those rather than going in an eu direction that benefits nobody. i don't think iran is a significant actor in turkey. the turks don't love the iranians. they don't listen to them. they don't need any help. the idea they're together, again, i don't see turkey coordinating the policies with iran. it's a very different country with different expectations and different -- different needs. but what it does show is that the middle east is sort of an undercurrent of your entire question. if iran is the only good news coming out of the middle east, what does that say about the middle east? nothing very good, nothing very good. >> the fact there's one issue where iranians and turks come together. that's on the kurdish issue. that's where they help each others to keep curving rising kurdish nationalism. this would be more of an issue if the kurds set up an autonomous zone in northeast syria and, of course, in combination with northern iraq. which brings me to the question of a former president of the first council. and the question has to do with iran's role

in terms of conduct, we have the doj and the ftc and we have the eu commission and they are the two big dogs. whenever there is anual change in conduct that is imposed, not just finds, it affects companies greatly. how do you distinguish between the u.s. and eu market in the globalized economy? you get your supplies from asia, you sell in europe and you source into the u.s. as well. it is difficult. although, google has shown us in china and other countries that it can actually tailor its allusions to different geographic markets and jurisdictions. for instance, the right to be forgotten in europe. google has implemented that. they are capable of making changes. emily: they also made a pretty big dramatic exit from china and their business has suffered significantly because of that. they are still operating out of hong kong but it is made a big challenge for the business. ok andreas and eileen, thank you both. now today and out of this world, nasa has announced a mission to jupiter's moon europa. a space launch is happening in 2020. another nasa funded project has come to an end. six scientists have come out of i

one is an ultimatum. eu leaders have agreed they have agreed they will come up with an ultimatum to present to the greeks. if it is rebuffed they will urge them to impose capital controls. after that point, it may happen by themselves. technically, the greek government need to implement them. you can see capital flight is not an agreement as we get closer to the important data lines. all across europe most of the conversations have shifted toward plan b. what to do you do the day after if you do not have an agreement? the latest polling out other greece. the question was -- colbert's responsibility for the prolonged negotiations? 56% said the creditors and 37% said the greek government. there are other aspects. that gives you a sense within greece and the whole population and not just a result, a strong animosity toward creditors and support left for the attack is the cerebral government. -- syriza government. caroline: vw may have an impact. hans: this is weighing could clearly on what we saw. the numbers a

and i spoke to an economist at the eu and foreign policy and says they do not address some serious issueshe real problem with this crisis do not realize the extent to which the greek political personnel has not moved to implement serious factual adjustments which would have brought about growth and jobs so what we are essentially doing time and time again is protecting the public sector from serious adjustments and not removing barriers or with what do you get in the end? more austerity and worries me about the new plan and i have not heard a word on competitiveness unless greece changes economic models and the presence in the eruo zone it will not be sustainable. if no deal happens it's down the line a greek exit from the euro does take place what does that mean for greece? >> we hope it will not get to that and we hope reasonable people will prevail from both sides but this would be detrimental to the country and leading to its economic marginazation and privitazion and we will see high unemployment and people purchasing power and serious shortages in basic products so it's a nightmare

despite the fact that you live bands development and national parks and that albania is an official candidate for euembership. back in croatia, at least six power plants on the sava river are in planning stage. all of this will impact the wetlands and aggravate the risk of flooding along the river. the previous flood victims are determined not to accept that. a citizens group has started a lawsuit to force authorities to find those responsible for the 2014 flood disaster. the lucic family and 3000 other residents of the flood hit areas support him. djakovic: i will fight this to the end because i do not think it's right for the events of last year to be slowly forgotten . reporter: after a year in temporary quarters, the lucic family are soon moving back to the sava with trepidation because they no longer feel safe in their home. damien: that's all for today. do get in touch with any comments, but in the meantime, that's all for me. i look forward to seeing you next time. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncic

despite the fact that you live bands development and national parks and that albania is an official candidate for euembership. back in croatia, at least six power plants on the sava river are in planning stage. all of this will impact the wetlands and aggravate the risk of flooding along the river. the previous flood victims are determined not to accept that. a citizens group has started a lawsuit to force authorities to find those responsible for the 2014 flood disaster. the lucic family and 3000 other residents of the flood hit areas support him. djakovic: i will fight this to the end because i do not think it's right for the events of last year to be slowly forgotten . reporter: after a year in temporary quarters the lucic family are soon moving back to the sava with trepidation because they no longer feel safe in their home. damien: that's all for today. do get in touch with any comments but in the meantime, that's all for me. i look forward to seeing you next time. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap

the imf walked away from negotiations and an eu leader told athens to stop gambling with its future.n weighs in on the future for greeks. >>> and a trade battle comes to a vote today. john engler tells us why he thinks it's essential for the economy. the second hour of jurassic squawk begins right now. >> every time we've unveiled a new attraction, attendance has spiked. >> these animals got to eat. >> you have an asset out of containment. >> keep your eyes on target. >> light it up. >> you are some action hero. did you see your shot there? >> did you see becky's shot there? >> i did see becky's shot. i wasn't going to mention that. welcome back to "squawk box" here on cnbc first in business worldwide. took a lot of work. you'd think it was a universal movie. >> we just like "jurassic park." >> i'm joe kernen along with becky quick and andrew -- i wanted to call you andrew raw sorkin at the beginning because of wrestling. that's what my daughter thought your name was. which is cooler. the latest installment of the "jurassic park" franchise hits theaters today. been 22 years since "ju

there's an emergency summit of eu leaders on monday to try to avert default. u.s. stock features barely moving after a good day yesterday. the nasdaq topping the previous record of 1.3%. previous record 15 years ago. a new closing high for the nasdaq. it has been a long road for nasdaq. getting hit hard in 2000 when the dotcom bubble and the 2008 financial crisis. and now it is more solid, home to apple, google and facebook. record high for nasdaq yesterday. 18 minutes past the hour. tropical depression bill swampbing oklahoma. houses and cars submerged following torrential rain. 12 inches in parts of the state. authorities search for a 2-year-old whose toddler was swept out of his father's arms during a flash flood. in texas, authorities are keeping an eye on swelling rivers. so far the region has been spared from significant flooding. for more on the flooding threat, let's bring in meteorologist derek van dam. >> the remnants of what was tropical storm bill continues across missouri in to southern illinois and parts of kentucky and tennessee. we have seen a consi