today merkel will meet with greek prime minister antonis samaras. he's expected to push for sanctions insisting that the economy needs to prove. tomorrow antonis samaras meets with francois hollande and later next we'll merkel meets with mario monti. silvia is in berlin and joins us for more. the mood seems to be we're not going to budge and inch. is that how it's going to play out? >> reporter: a lot of saber rattling. the official line you have to stick to your reforms. you have to be repentant. you have to prove to us that you're really willing to make all the necessary cuts. then we have, of course, antonis samaras coming out and talking to the german press and german politicians saying greece is really bleeding, we do what we can but you have to help us. somewhere in the middle everybody is waiting for the troika report which comes out in the middle of september, after the verdict of the german constitutional court on the esm or temporary injunction, whether the president can sign the esm, and then we'll be talking. but behind-the-scenes, behin

antonis samaras needs to win favor abroad but he must also start to heal his broken country. >> that is where mr. samaras will push talks today and later in the week and talk about how the country is suffering from austerity, one third pushed below the poverty line, unemployment, 23 percent and for young people, a staggering 54 percent. a source tells me he will not press for the two-year extension, he does not want to cause bad blood with them at this stage but he will broach the topic. will they respond positively? they are tiring of greek delays but they don't want to see greece leaving the euro for the moment for fear it could spread contagion to other indebted countries. >> mark, in athens, thank you very much. we're going to have a look at some of the other stories making headlines around the world. japan is sending its ambassador back to south korea to deal with a dispute over island territory which both countries claim. the ambassador was withdrawn in protest after the south korean president visited the island earlier in the month. japan wants national arbitration over the isl

on saturday, saros -- antonis samaras in paris. so the leaders are meeting this week. not sure it is the make or break week some have suggested. it all hinges on the cerrito report which is still a couple weeks away. if greece is going to be ousted from the eurozone, as many people guess it might ultimately be, nobody wants to be seen as the prime mover, not least germany. there are people are behind the scenes hoping that the troika will give greece a poor record in terms of its efforts to introduce austerity. then they could possibly show greece the door, saying it is those anonymous follows from the troika to represent the european union, imf, and european central bank, they are to blame and not us but i should add that it is eurozone policy to keep greece in the club at the moment. that is planned a. a lot of people are talking about plan b. >> of course, the markets will be watching the situation in greece very closely this week. here is stefan wolff as monday trading wrapped up in frankfurt. >> investors also a here in frankfurt are quite confident that most of t

german politicians state their claim ahead of a key meeting between angela merkel and antonis samaras. >> the ecb is considering setting a trigger for sovereign bond purchases. >> the former wife has a suspended sentence. >> london shares are under pressure, workers told to return at south african mine or face dismissals. there's a $1 billion rights issue pure speculation. >> okay. welcome to the show. i was a little lonely on friday. >> how did it go? >> i was lonely. dublin was good? >> i was not lonely. >> no. >> you'll have time at the end of this week and a little bit next week. we'll have to make the most of it while we're together. >> for the next three days. let's tell you what's coming up. celebration is over for europe's top politician. leaders of germany, france and freese will hold a series of meetings this week. on friday the greek prime minister, antonis samaras is expected to ask for more lenient bailout terms when he meets both those leaders. top politicians refused to grant athens any further concessions. ahead of that the german foreign minister is holding a conferen

but conservative prime minister antonis samaras persuaded them to accept further reductions. he insists that greece needs to take drastic action to remain in the eurozone. the details of the cuts will be announced around the end of august. more state-owned corporations will be privatized. pensions will be lowered. the greek people are expected to strongly oppose the new measures. >>> the people at toyota motors plan to roll out more automobiles than in its history. they will produce more than 10 million units by the end of 2012. the group includes daihatsu motor and hino motors. the figure will be more than 2 million higher than last year's production of 7.8 million units. toyota increased its assembly in the first half of the year. the company predicts brisk sales of its vehicles will continue, mainly in north america and emerging economies. we've been looking at emerging asian economies all week on "newsline." today we focus on vietnam. political leaders in vietnam are struggling with inflation and slow down on economic growth. leaders have set the nation on a path of econo

the greek prime minister antonis samaras asked for 11.5 euros of cuts over two years. >> [speaking foreign language] >> the only thing they want is to move towards recovery as soon as possible. >> with the deepening recession, it is getting harder for greece to raise more tax revenues, while spending cuts could hold back a return to growth. the international monetary fund projects a 4.8% contraction this year and no growth next year, but many think that is too optimistic. >> the economy is almost dead, and a lot of economists here feel that if you just squeeze of little bit more, then that will be the death certificate, nothing will be movorg anyme. >> in athens, the latest developments in the greek and financial crisis, things are being watched closely in european financial markets. >> greece -- >> this economists said she thought greece will not be able to meet the terms of the bailout deal. >> i do not think that a greece will be able to meet the targets that they set out today -- i do not think that greece will be able to meet the targets. if we are looking at the immediate issues for

in athens today greek prime minister antonis samaras met with eurogroup chair jean-claude juncker. junker said any easing of greece's bailout terms would depend on a report by international debt inspectors due out next month. the meetings continue friday with german chancellor angela merkel, today the greek leader told germany's most read paper, all that we want is a little breathing room to get the economy going and increase revenue... more time does not automatically mean more money. samaras will also meet with france's president on saturday. president france's president held a conference call with his british counterpart, david cameron and issued a statement saying both welcomed the actions of the ecb and agreed this did notny gait the need for greece to stabilize their own economy and prevent any further detrimental effects to the wider eurozone but they didn't specify which ecb actions they welcomed. >> susie: another vote of confidence today for the housing recovery. americans bought more homes in july than they did the month before. that's surprising, because july is usually

the greek foreign minister antonis samaras says his country needs more time for reforms that's ahead of his meeting with the head of the euro is a to discuss it greece has done enough to ensure its next much needed bailout payment so mars is also due to meet with his french and german counterparts later this week tough spending cuts have already proved hard to swallow for the greeks forcing thousands to rally in protest earlier this year. i could do more in president rafael correa rares says he might turn to the un's international court for help with resolving the case of julian assange it follows comments by a sort of justice ministry official that wouldn't be handed to any third country if there was a risk head face the death penalty that that's after the u.k. threatens to enter the ecuadorian embassy in london and arrest him the wiki leaks editor has been staying there to avoid extradition to sweden for questioning over alleged sex crimes which he denies and laws kieth from the u.k. pirate parties that sweden's assurances are not firm enough asan. holds. but it's difficult to see

was met by a tough message from the german chancellor said action must follow words on saturday antonis samaras heads to france with the same mission investment adviser patrick young told me the struggling economy is won't be able to get back on track even if it implements all of the promised reforms anyway. it's really rather sob this whole situation i mean the great political class are utterly delusional if they believe that they can possibly manage to make the numbers add up the numbers simply don't add up they have not added up in greece for perhaps two decades probably a great deal longer ultimately there is a fiction price to be won from greece greek economic numbers the idea that suddenly when you have an economy that's in a tailspin it's collapsing an incredible almost unprecedented grit that suddenly everything is going to switch iran is really not going to have the situation for mrs merkel who has got a terrible dilemma is she's actually going to have to do something radical that she hasn't done before the euro crisis which is making a decision and actually how she made any decisions

greek prime minister antonis samaras says his country needs more time for reforms that is ahead of his meeting with the head of the eurozone to discuss if greece has done enough to ensure its next a much needed bailout payment smar is also g to meet with his french and german counterparts later this week and tough spending cuts have already proved hard to swallow for greeks for the greeks forcing thousands to rally in projects earlier this year. the eighteen year old russian quits to join the world trade organization is now is the country has officially become a full member of the global trade bloc and daniel is at our business desk so good achieving this goal daniel become a springboard for the russian economy moving north it's not the promised some hard hope for originally russia will have to import call me because like the voters in particular on the pressure will be speaking to. about the business in around five minutes to an. ecuadorian president rafael correa rares says he might turn to the un's international court for help with the revolving resolving rather the case of julian o

blitz in europe with its prime minister antonis samaras meeting the french leader today in hopes of convincing him to cause athens some financial slog also is a lot with german chancellor angela merkel the search is certain after all is a bailout commitments and keep counting some members of her own government a less sure and increasingly speculating about a possible greek exit from the eurozone athens however it says it will do all it takes to stay in the car is a blog that says it needs breathing room to kill its coverage and economy. asset management specialist philip of all strong believes that so long. greece is bankrupt i think there's no discussion about that today and it hadn't been two or three years ago even with the hardest possible work and a lot of cut and extremely austerity and very greece won't be able to pay back the huge amount of their they have loaded to their shoulder there's only one way of rescue gaining of competitiveness in greece and this is the exit from the euro zone and politicians always argue there are enormous cost in war with the exit of chris that's perfectly

father continues on also concerns remain with europe as well this friday the greek prime minister antonis samaras will meet with the german tells language merkel to perhaps try and come to some kind of compromise on an extension to greece's debt bills so we check out the euro while chassis away then although the german finance minister dampened optimism today that greece will get more time to craft this debt with comments circulating the trading force as for the river that finished up makes against a basket of currencies and stay with russia strong gains were made today for the horses it's been a roller coaster of a week but moscow is set its own course to finish the week on a three month high and the world's next offshore paradise is latvia as the baltic states a lash is taxes that is now from next year cuts rates and scraps dividends tax to get global firms to set up there to really offer some encouraged and now russian firms have particular they all tip to shift some of their cash from the current favorite site perhaps. over a per se this is. looking out of weekend or it will disturb insight i

spanish yields rose up 6.5%, back down slightly but antonis samaras is meeting with angela merkel. likely to meet a wall of resistance to getting any extensions on bailout but we have to wait for the troika report before we know what happens with greece. it puts thought of a greek exit back on the table. back to you. >> the ten year treasury yield has fallen for the past five session but still up for the month of august. where will it head from here? so, yelled yields fell and the bonds rallied a bit. on the expectation of less qe. okay. so the fed is supposed to come in and do quantitative easing which is supposed to lower yields and the market goes lower on expectations of less qe. do you understand what's happening? >> i think essentially how much is priced in. at this point one qe program by year end is there's 80% chance. i think if you actually do get qe which is what we saw after qe 1 and 2 interest rates have risen. if the fed does qe3 rates will rise. i disagree. qe3 will be so much less effective than qe 1 or 2. as the be market is a little skeptical about what lower inte