democratic party on friday. >> so you still think to make this clear that you could vote for no if angela merkeloesn't put more offers on the -- yes quarterback for sure. after this speech from bang la merkel today we were less convinced than we were yesterday. >> finally, what do you want from her to still give us a yes on friday? >> we have to regulate the finance markets and germany not only also international regulation is necessary. >> okay. well, that's obviously the opposition suggesting they still may vote against this package. meanwhile, sil, we've got ongoing strikes in greece, which we're showing pictures of. and just a leap of faith, do you think, relates to the faith that the greeks will be able to deliver the austerity package? >> there ask a clear danger in there that the greeks will not deliver or there's a risk on the table that it may not be enough. we were talking about $110 now and there's $22 billion that it has precaughts. earlier on, it was said that we know about the hippo real estate. i think angela merkel will have to go to brussels and really put some demands of the ge

angela merkel is clearly very angry. how did you create a relationship where you were saying actually you want britain to be part of the european discussions? but you do not believe they are in the right position, as that word? >> in an ambassador for the country, not the party. that means i do not speak on a party relations. i read into the treaty that the new government wants constructive engagement in europe. we take that for face value. >> how you see evidence of that constructive relationship? could be down to how much britain is worth -- willing to put in to help the european financial problems? >> we do not need help for the euro. >> do you not? >> is a stable and wonderful monetary unit. it works." angela merkel spoke in much more apocalyptic terms. you cannot deny she said this. i know you want to talk up your country, but angela merkel said that the bureau was in danger. her ambassador to britain does not agree? >> out of this came a reaction. what she said, i do not read out now, but i paraphrase it. what she

angela merkel is absolutely right.is an absolutely essential crisis for europe, they have to deal with it and i think now it's clear they have to go forward in some way. >> charlie: ok. did they make a mistake, then, in having a single currency without having a financial union? >> my view was they made a mistake in doing so when they made the single currency so big. many germans, particularly the people close to the bundes bank and the finance ministry thought we could have a single currency, it would contain germany, netherlands, belgium, scandinavia and france. that would have been fine and probably would have worked without what we're seeing. for political reasons, the treaty was written in such a way that it could, with a lot of stretching allow these other countries in and they all wanted to join and they all worked very, very hard to do something to allow them in, and then the germans for various reasons, and the french and the others accepted this, so suddenly they end up with a euro-zone which is much broader,

angela merkel just lost one of the regional elections. part of the response was this measure, a way of trying to shore up support for bailing out some other countries in the euro zone. host: next caller is john on the independents' line. caller: on the existence of the primary currencies that existed in europe -- how they play with the euro and the currenc ies. they could potentially help itself would devaluing the currency -- which he devaluing the currency -- guest: i think you have to get on with it problems for greece there. -- have hit on o of the big problems for greece. the swiss franc rains steadfastly neutral, refusing to join with the european project. zone.en you have upsethe euro we no longer have the french franc or the deutsche mark. but valuation is one of the big problems for greece. it has to adjust the economy to the economic circumstances it finds itself in. normally what happened is that the imf would come in and lend the government a whole lot of money and say that you have to do things to liberalize their economy, cu

angela merkel just lost one of the regional elections. part of the response was this measure, a way of trying to shore up support for bailing out some other countries in the euro zone. host: next caller is john on the independents' line. caller: on the existence of the primary currencies that existed in europe -- how they play with the euro and the currenc ies. they could potentially help itself would devaluing the currency -- which he devaluing the currency -- guest: i think you have to get on with it problems for greece there. -- have hit on one of the big problems for greece. the swiss franc remains steadfastly neutral, refusing to join with the european project. zone.en you have upsethe euro we no longer have the french franc or the deutsche mark. but valuation is one of the big problems for greece. it has to adjust the economy to the economic circumstances it finds itself in. normally what happened is that the imf would come in and lend the government a whole lot of money and say that you have to do things to liberalize their economy

discipline as they are right now, then we'll see a more profound reaction, i believe, than if angela merkel holds forth on let's bring back the deutsche mark. >> public sector unions are in the treats calling general strikes. will that anger the greek parliament? >> there's know question. that conflict will be there. but if it is clear that the unions have the ability to resist imf discipline, then all bets are on. >> so john rutledge, take it from there. the greeks don't like any of this -- the germans don't like any of this. if the european union and the imf gives degrees $140 billion, $150 billion, and the unions are calling general strikes, what does that do to the credibility of this package? and is that part of the issue that plagued markets today? quite apart from spain. just the greek piece. >> well, today it was a day of ironies. greece is the size of louisiana. it has the population of the los angeles metropolitan area and the gdp of ohio. that's the core of what's going on today. they're 2% of eu's gdp and they're broke. they're broke and the government is corrupt. no way that we

this is someone taking on angela merkel, an anti-globalization protester. angela america.n taking steps to help greece bail out but with that they're calling for greece to make some promises. some people want that debt forgiven entirely. this right here is a cruise ship. usually see people headed out to tourist destinations right now. a lot of these have turned into protests as well. the famed acropolis right here, look at these huge signs. people of europe, rise up. what this is doing is taking this major nation and turning it's personally all throughout athens, where a lot of this is taking place, turning it into protest central throughout a lot of these streets. i want you to see some of the video. as you mentioned, this turned deadly. we have some reports already about three people, at least three people dying. we have other cases in which some people are missing inside major buildings. we have protesters surrounding certain buildings including financial buildings, some banks in some cases, security officials out there protesting or trying to stop some of these clashes

i spoke this morning with the german chancellor, angela merkel. we agreed on the importance of a strong policy response by the affected countries and the strong financial respoose from the financial community. the united states supports these efforts and we will continue to cooperate with european authorities and the imf during these critical days. the job numbers this week offers little comfort to those still out of work. those who are out there still looking, i give you my word, i will keep fighting every single day to create jobs and opportunities for people. every one of my team standing by me here as the same sense of mission. we will not rest until we put this difficult chapter behind this and i will not rest until you and billions of your neighbors are able to find a good job and reach a brighter day. thank you very much, everybody. >> have you made a decision on the supreme court? [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] >> midterm elections are six months away and cou

the german chancellor, angela merkel, may be forced to announce some kind of withdrawal.o what the point is, on top of that, general mccystal and general petraeus have said, we cannot win this war on the ground. the task for the obama administration is you have to look at the political settlement. a settlement between karzai and the government and the taliban. how that will shape out depends on the americans. at the moment, obama has said that he will not support talks with the taliban leadership, although karzai is doing that. what i think is vital now is that the americans agreed to talk to the taliban leadership. and we really now work in the next 18 months for a serious political settlement, which includes not just the taliban and karzai, it also includes the whole region. pakistan is involved in this war. pakistan has six neighbors. they are all involved in this war. they have proxies. they all want a piece of the. -- they all want a piece of the pie even more. zwr what do you understand our mission to be there? why are we there? >> i think the mission has changed a

chancellor angela merkel spoke before travelling to brussels for a meeting of the e.u. >> ( translated ): this is a very important decision that makes clear that we are protecting the currency in the interests of our citizens. but it can only be effective in combination with the ambitious greek austerity plan, which was passed in the greek parliament yesterday. >> holman: president obama said he spoke with merkel this morning about the greece crisis, and made clear the u.s. supports the rescue efforts. but even with the support of the international community for greece, anxiety over the country's debt issues rattled markets in europe and asia. >> brown: and we turn next to two economy-watchers: mark zandi, chief economist at moodyseconomy.com; and mohamed el-erian, c.e.o. and co-chief investment officer at pimco, a global investment management firm. mark zandi, starting with you what are the jobs number tell you. a lot of jobs across lots of different industries. you know, we have been in recovery for six to nine months. but the missing link was job growth, i think we found it today. v

germany's chancellor angela merkel approved the move after weeks of delay. >> this reaction to a law does not only mean but will also help the stableation of the euro as a whole and therefore hep the people of germany because a stable european currency is extraordinarily important. >> reporter: nearly $400 billion in the red and less than three weeks from default, the greek government felt it had no choice. but the price is stiff. tax hikes and $40 billion in budget cuts through 2012 that will hit pensions and public salaries hard. >> the international monetary fund came to control us like a new dictator who every three months will be seeking to suck our blood. >> reporter: 4,000 teachers and students marched past parliament today. some threw stones at riot police who fired back with pepper spray. state employees at airports, schools and hospitals didn't show up for work and a general strike was called for wednesday. still, the greek parliament took up the austerity measures with a vote expected later in the week. >> woodruff: for more on this and what for more on this, and what it c

the germans had held back on helping greece, but chancellor angela merkel said it is time for action. >> this reaction with a law does not only mean that we assist greece, but it will also help the stabilization of the euro as a whole and, therefore, help the people of germany, because a stable european currency is extraordinarily important. >> sreenivasan: germany made its move after greece agreed on sunday to deep new cuts in public spending. april was kind to automakers in the u.s. ford and chrysler reported sales were up 25% from a year ago. toyota was up 24%. and general motors sales rose about 6.5%. despite the gains, sales were actually much slower than in march, when incentives attracted buyers in droves. wall street rallied on upbeat reports about consumer spending and factory activity. the dow jones industrial average gained 143 points to close above 11,151. the nasdaq rose 37 points to close at 2498. actress lynn redgrave died today after fighting breast cancer for years. she joined her family's acting dynasty and burst into public view as the title character in "georgy gir

in germany, chancellor angela merkel telling her own parliament it was a fault in the road and this is about nothing less than the future of europe. while warning that other countries across the euro zone will be hit unless berlin votes through its share of the bailout. investors, again, fled banking stocks in athens on news of the debts. moody's announcing the likelihood it will downgrade lisbon's credit rating or at least the risk of that for the moment is rising. cannot prevent madrid's market from being hit again. deutch in germany still sue under pressure the selling of the euro becomes really for days now a one-way bet for foreign exchange players and normally see the cost of borrowing beginning to rise, an indication the crisis is slowly eating away at confidence for the moment in europe. >> absolutely, simon, thank you very much. >>> let's talk more about this now with our power lunch market insiders. joining us on the set david c cotot and author of "invest in europe now" also in our studio jim silver just came back from asia because china is also a part of what is going on in

and i think given that comment on the back of angela merkel expressing her confidence in germany passinggreece kind of eliminates all the benefits of germany passing that package. >> jessica, it's been pointed out that some of europe seems to be moving away from socialism as some people here say we're moving towards it. i tried to maybe tie some of the problems they're having to entitlement states, too many entitlements or whatever rigid labor rules that you want to talk about. does that have something to do with this situation, and who is the paragon for the free market over there? is it germany? >> well, i think that, you know, i completely agree with you. it's very ironic that as we continue to move further left in our politics, europe is forced to move further right. i just believe that culturally in some of these mediterranean countries that doesn't seem to be favored because the government has been supporting these economies for so long. >> life is pretty good. in greece and italy, i'm telling you. >> not now. >> no, it's still pretty good. >> not now. >> it's sunny and there's oli

somewhere around 20% -- maybe 24% -- maybe 16% of what runs the military, president obama authorized angela merkelf germany to push this big bailout of the of euro and greece. our part of that would be somewhere around $170 billion that would go to this foreign country and a faceless organization that will fail anyways. host: a little bit of topic. we are talking about defense spending with george wilson of "congress of daily." this is your peace from today -- "congress daily." this is your peace from today. "gates' swan song." guest: he wants to kill the c-17 in the sense he wants to purchase no more of them. a modern transport that has turned out to be a good airplane, but as far as he is concerned, but enough is enough. if you are a politician, you will resist that. people say that gates cancel the f-22, but he did not do that -- canceled the f-22, but he did not do that. he just canceled making any more of them. he wants to reform the purchasing process. he has asked good questions, like why we need 11 aircraft carriers with 20 billion air wing -- 20 million air wing. if congress keeps regardi

i also spoke this morning with german chancellor angela merkel regarding economic financial developmentn europe. we agreed in the importance of a strong policy response from the affected countries and a strong response from the international community. i made it clear that the united states will continue to cooperate with european authorities and the imf during this difficult time. these job numbers come as a relief to americans have found a job, but are cold comfort to those who are still looking for work. to those of you still looking, and give you my word that i will keep fighting every single day to create jobs and opportunities for people. every one of my team standing alongside me here has the same sense of mission. we are not going to rest until we put this fiscal chapter behind us. i will not rest until you, and millions of your neighbors caught up in these storms, are able to find a job and -- brighter day. thank you very much. >> mr. president, can you tell us about the supreme court? >> the senator from utah will address the convention. what coverage at 8:00 p.m. watch n here

i also spoke with german chancellor angela merkel regarding the economic and financial the elements in europe. we agreed on the importance of a strong policy response and a strong financial -- financial response. i made it clear that the united states supports these efforts and will continue to operate with european authorities and the imf during this fiscal period. this week of the jobs numbers, as a relief to the americans found a job, but offers little comfort to those that are still out of work. to those are still looking, i give you my word that i am going to keep fighting, every single day, to create jobs and opportunities for people. every one of my team the standing alongside me has the same sense of mission. we will not rest until we put this fiscal chapter behind us, and i will not rest until you come and millions of your neighbors, caught up in the storms, are able to find a good job and reach a brighter day. thank you, very much. >> mr. president, have you made a decision on the supreme court? this weekend, the author of the books "the business of happiness." sunday night o