and a question for judge basel and ms. afghani is to talk about your views of the new or the relatively new government in afghanistan. this is, of course a very fragile, new unity government that despite its name is very fracture ared it seems to be very dysfunctional in the sense that it sometimes seems that the president and the ceo do not necessarily talk that much, don't even know what's going on between each other in terms of policy. what do you think of this government and particularly how large -- how high of a priority do you think it has or will accord to women's issues? so maybe start with you dr. kitch? >> okay. well, i think their question is really interesting, so i'm going the make mine brief. i think that there are several levels of contested terrain. afghanistan is historically contested terrain. so one of the illusions in the title is -- allusions in the title is to the history that i talk about of international sensing on the territory of afghanistan to create the country in the first place and to -- beca

basel, switzerland. the european jewelry and watch fair.diamonds valued over $3.5 million vanished. 1994 around the globe in tokyo, an upscale department store, three watches worth thousands upon thousands of dollars. months later honolulu. a place called the goaden boutique. four men said to be dressed to the nines, a million dollars worth of watches gone. with heist after heist, a pattern was emerging. except as we found out, no one could see it at the time. for one thing, as former interpol chief ron noble told us other problems seemed more pressing back then. >> in 1993 1994 the u.s. had a crime epidemic robberies, rapes, murders, violent crime. also people might forget in early 1993 is when the first world trade center bomb ogging occurred. so the u.s. as many other countries were focused on terrorism as well. >> and as we learned, there was another reason too. this was a pre-9/11 era where police did not routinely share information. >> the standard operating procedure was you collect fingerprints witness testimony and you put it in a

repression and brutality in basel. it's been years since islamic state fighters one control. in united nations efforts to reconcile the warring government in libya failed. the elected government

repression and brutality in basel. it's been years since islamic state fighters one control. in united nations efforts to reconcile the warring government in libya failed. the elected government walked away from negotiations in morocco. first, though, british lawmakers have voted in favor of holding a referendum on leaving the europe in union. the vote will take laced by 2017. prime minister david cameron is under pressure from members of his own party, who are pushing or the u.k. to clawback or else leave the eu altogether. let's get the latest. benedict as expected lawmakers have voted in favor of this referendum to be held. the campaigning, i guess, starts now. benedict: the clock is firmly taking, very clearly. this is the second reading, so it was an overwhelming yes vote. 544 voted in waiver, 53 against this bill. clearly, now, this bill is going to move through to its next stage. the legislation will move through to its next stage, the committee stage, and then it has other stages to pass through but clearly, the united kingdom will be holding an eu referendum by the e

liberating basel -- mosul has been put on hold. brent: richard, a few days ago obama said there is no clear strategy on how to help iraqi troops. there has been vocal criticism about there not being a clear strategy, so how do we read today's announcement? richard: obama did get quite a bit of stick for that, he made a few days ago, though to be fair i think he was effectively saying wait for this announcement. it is his response to what happened in ramadi. we heard it referred to at the end of the report, a city in an bar province, very close to baghdad. remember that it fell to islamic state just a few weeks ago, and it was a grim reminder of what happened in most all a year ago. iraqi forces effectively had to depart the city that gave up the fight against islamic state after a long siege. it was a strong reminder that the iraqi forces are still nowhere near where they need to be one year into this battle but it is interesting for what the obama administration did not do as for what it did do. this is really just a few hundred t

acknowledging starting pitcher shawn conroy as the first openly gay pro basell player. katie has the story. >>reporter: beautiful evening noma stomach perfect baseball sonoma stomach perfect baseball. blue sky. warm sun. rainbow. >> having althe fans here. having parade nature just amazg. >>reporter: shawn first professional start pitches a shut out against the admirals. openly game. first for professional basall. >> if you can play you can play >> iyou can play you can play. so it doesn't matter your sexual orientation. whatever. just the if you love something, do it. >>reporter: it was his teammate idea to wear something special to honor pride night and they couldn't be more proud of him. fellow pitcher john hopes the message reaches beyond the bay area. >> anybody can play. davis. female baseball player. this game doesn't discriminate against nichbility 's a fair game. >> good eye. >>reporter: the fans lovehe game. and the message. >> out pitcher starting is phenomenal. just doesn't happen so it's really cool to see it and thrilled that it is in my community and i ca

so i guess my question to you is the chairman of the financial -- of fsoc, is the framework of baselonflict with dodd frank frank? >> i don't think it's a question of conflict. i think the question is do banks of all size pose the same risk and require the same exact treatment, the answer is no. and we have been very careful in designing rules to try and distinguish different levels of treatment for different firms of different size. that doesn't mean we have it perfect. there certainly is an openness to looking at issues there. but i have to say that the debate recently has taken on a kind of odd character. there's been discussion of exempting banks of $500 billion or less. do you know how many banks there are between $500 billion and the biggest banks? there's six banks. the largest financial institutions in the country in the world. so we have to be careful not to ask questions as if a $2 billion bank is like a $50 billion bank or a $50 billion bank is like a $500 billion bank. i would be happy to have this conversation. we are open to ideas of how to tier treatment appropriately.

they are now looking at reviving president obama's trade agenda by adding a fast-track basel to an unrelated the plan is designed to bypass house democrats. worker aid to pass a bill. thes a sign of how badly oil prices have hit opec. it is the first time they took less than $1 trillion. who survived a shark attack is not talking about the terrifying experience. north in the water off of carolina when he was attacked. he lost his left arm and now has two options. myter: i can try to live life the way i was and make an effort to do that, even though i do not have an arm. or i can let this be complete debilitating and bring my life down and ruin it. out of those two, there is only one that i would choose to do and that is to try to fight and lives a normal life. olivia: an hour before the teenage boy was attacked, a shark bit a 12-year-old girl. she also lost her arm and suffered a severe leg injury. those are your top stories at the hour. still to come, much more, including when china's stock market bubble will burst. just $85 million, you can get a beachfront property in the hamptons. more o

the officials within greece submitting fresh basel to its creditors to unlock fresh bailout funds.vaguesays rehash of earlier proposals and is not considered edible. if you wanted evidence of the rest of the decline, this is the -- onet your on the stock the stoxx 600, every single one declining on this tuesday session. this is the corporate story -- hsbc cutting jobs and selling operations. those will reduce the headcount by another 25,000. it wants to achieve cost savings of five alien by 2017. wiped 1.5 million pounds out. the stoxx 600 banks indexes up by 13%. hsbc underperforming year to date. look at the top stories crossing the terminal at this hour -- job openings in the u.s. rose more than forecast in april. the latest report says the number of positions waiting to 267,000 toith up five point 4 million. rates of hiring and firing decreased. the number of americans quitting their jobs was unchanged. u.s. wholesalers boosted stock tiles in april, the largest amount since january. inventories rose .4% and sales increased 1.6%. an increase in inventories can be an indication o

one of the cornerstones of the basel capital of liquidity machines a sovereign instrument are better than gold. they've taken care of the great exception to put that to decide. unless we assume greece and perhaps puerto rico are anomalies should we be concerned about these regimes that are going to increase exposure of the global banking system to sovereign instrument and capital and liquidity. >> i have never been a fan of the basel treatment for government debt. that basically reflected the conflict of interest that exist because atkins says of representatives that their national government. hopefully with enough of these catastrophes that there will be some serious rethinking of the extent to which government debt is given a free ride so to speak. this may be the situation that leads to the fundamental rethinking. >> this is supposed to be a problem dealt with around 2012 but that certainly hasn't been the case. you've seen a lot of the countries in the european periphery at the spanish getting their bags to buy the bonds so we do have a massive problem of the interlink between th

they asked the representatives of the european commission to hammer out a common approach of basel'sece needs to implement. this proposal will be communicated later today to the european commission president. of course, alexis tsipras has said it is the greek proposal which is going to be discussed today. what we have been told by the creditors side is the proposal which greece sent yesterday, like so many before, it is not considered credible. it is not going to be on the table. what is going to be on the table is the creditor's proposal which was polished and finished up yesterday. it is going to be a difficult one for the prime minister to swallow. mark: is this really the end game the greece crisis saga? nikos: that endgame has started. the fact that some of the most powerful people, the head of the central bank, the french president gathered in the middle of the night in berlin on monday in a secret meeting nobody else knew about until bloomberg broke the news. the greek government was not invited. the urgency of the situation. the fact that the leaders asked their own bureaucra

the insistence of certain interested -- of certain institutional actors on submitting absurd for basel's. -- absurd proposals. a german lawmakers saying that it is up to greece to adhere to reforms they had agreed to. they tell us that creditors have weekendogether over the trying to figure out and agree on what they want from greece. so they have agreed that they want concrete action in areas related to the pension system, the labor market, the sales tax. the agreement could be delivered by leaders. tsipras is of course trying to get some help from the german chancellor, the french president , and he called on sunday over the phone with both leaders. back to you. let's have a look at some of the other stories we're watching for you today. yvonne: let's talk about this .eijing smoking ban be careful of where you light up in the capital city now. china has been known as one of the most smoke friendly countries in the world but that changes today in the capital city. the harshest anti-smoking rules ever seen in the country. includenket ban does races such as work, schools, public transport

basel fails to convince that prime minister tsipras is scheduled to meet merkel and how long -- hollandetonight, george osborne and the other mark carney. those of you who remember the speech last year, get ready for a rate hike that never came. more news tonight. futures lower. dax futures up 16 points. the stoxx 600 on a six-day losing streak. come over to the touch screen and i will give you an idea of what is driving trading. it's not in the equity market area it's right here in the bond market. yields on german bonds keep going higher after the worst week for the german market since 1998. yields are three basis points higher.

sunday on a plan that will unlock bailout money, but the prime minister of greece is calling for the basel mourners our honoring the victims of a mass shooting at a beach. police say the student who slaughtered 38 people friday acted alone but may have had help before the attack. the fbi is watching for a u.s. threat during the fourth of july weekend. the chairman of the counterterrorism panel in the house. peter king: i was more concern than any time since september 11. there is a multilevel sense of operation. it is not just the long wolves through there can be some corporation -- there can be some cooperation between the mobile that are out there. vonnie: tourists are now fleeing tunisia. what is the -- if three is a crowd, what is the republican presidential race? john kasich is expected to announce his bid x month. new jersey governor chris christie will make his bid official tomorrow. and stephen met made his first pitching start for the mets yesterday. he had three hits and a record quarter runs batted in. -- and a record four runs batted in. tom: i watched every minute of it. it wa

greeks will vote on whether to accept the latest basel of creditors and open the door to more bailoutvestors are scratching their heads right now and saying what exactly are they voting on? his there going to be something to vote on? the vote will take place on sunday after the fact. i am talking to people asking what they are hearing and it is conference call after conference call across the board. investors are scratching their heads asking what this means. the supreme court is expected to issue the final three decisions of the term. among the cases is whether the epa unreasonably provided costs when it limited power plant emissions. there is a case involving lethal injection and a another that can change the way congressional districts are redrawn. scarlet: general electric is selling another chunk of his financial operations. it agreed to sell in bulk of its management business to a limit initial. the price is $6.9 billion. ge plans to sell off $200 million so it can focus on its industrial operations. the parent of the discovery channel is showing it is a lot more than just shark

it look different to the basel may be put in front -- to the one that was put in front of the greek peoplehis is not the case. the greek government has an official proposal given by the institutions. it would be a slight changes. i don't think there is a big difference between the two. guy: how would another currency function? do you have the ability? they can't let see the greek people have not voted for this proposal -- let's say the greek people have not voted for this proposal. >> it is never a good idea. guy: you must have a plan b in place. you are putting this in front of the greek people. they have the option. yes or no. let's say they vote no. you have to be prepared to make sure they have something that will allow banks to function. >> absolutely. if they vote no, that doesn't mean that we vote for a different currency. we have a very specific questions to the greek people whether to exit or not. we don't ask them whether they wish to stay with the euro union. these are not questions put to the people. some may vote with a thinking of a different question. what we're saying is we

know it was quite a kerfuffle in the legislative council, 28 voters voted against the china-backed baselthat means that one of the pro-establishment crossed the divide. and the kerfuffle came about because the pro-establishment lawmakers actually tried to lead the legislative chamber, so there would not be a quorum. they wanted to leave because one of the members was feeling ill they wanted to give him time to recover. what this meant, in the end, only eight pro-establishment voters voted for this china backed electoral plan. anna: where does this leave us then? how the process work from here? david: i think one of the really key things is what alan long, one of the leaders of the biggest pro-democracy partners the voted against the plan, he said we voted against it because we did not want our vote to legitimize the choice of chief executive, who would then be only accountable to the vested interest. vested interests in hong kong have so many people in hong kong concerned. that worried the present government here in hong kong. they are only answerable to the billionaires, the business el

globally, iosco has had to work with the fsb and the basel community more intensely than ever before. also as part of the post crisis i talked about before, the increasing importance of markets regulators is now strongly coming into focus. it has been a challenging exercise for all of us, and i think a very fruitful one. i think we have come a long way. as i said, my second comment is actually about how we have addressed those issues. let me focus on the reform agenda for what has been called shadow banking. the key aspect of the reform agenda. what we would now prefer to call sustainable market-based financing. i have a real issue with the bedeviling of the name, shadow banking. frankly, i'm not sure it was the right name. now the fsb has taken on this name of sustainable market-based financing. three points. the first is the fact that the agenda has for some time been driven necessarily by financial stability and systemic risk considerations. as david said earlier, there were dark times back then. and there hasn't been really a focus on the role market-based financing can play in fu

>> we'll see how this works but -- >> basel iii spirit we'll see how this turns out. >> thanks. i'm john from the federal anything as they should not be held against them. i think this is a question for erik and so what your analysis shows was the lack of a positive effect in this sort of low, high ltv region. i'm wondering if the same nose could be used to show the absence of a continued negative trend in the same area? so in particular look at the faults and it defaults that were happening. was there anything around that time if we do the same sort of pictures, you would see much higher default initiations in these high ltv regions? and did not suddenly change right around the time of qe? is that an avenue we could sort of add to the ledger on the other side? >> to declare everything nothing is about levels. everything is only about the differences. that's kind of the design of these regional things. anything that is a general equilibrium could push everybody up or down and this is on differential. think about as not the regions are not helped at all. it's just their health re

globally, iosco has had to work with the fsb and the basel community more intensely than ever before. also as part of the post crisis i talked about before, the increasing importance of markets regulators is now strongly coming into focus. it has been a challenging exercise for all of us, and i think a very fruitful one. i think we have come a long way. as i said, my second comment is actually about how we have addressed those issues. let me focus on the reform agenda for what has been called shadow banking. the key aspect of the reform agenda. what we would now prefer to call sustainable market-based financing. i have a real issue with the bedeviling of the name, shadow banking. frankly, i'm not sure it was the right name. now the fsb has taken on this name of sustainable market-based financing. three points. the first is the fact that the agenda has for some time been driven necessarily by financial stability and systemic risk considerations. as david said earlier, there were dark times back then. and there hasn't been really a focus on the role market-based financing can play in fu