. >> christine lagarde, i.m.f. chief now speaking in brussels about anmy deal for aid for you crane. the i.m.f. program l go for four years. the plan needs board approval. obviously we'll get more details as christine lagarde continues to speak. peace talks in minsk trying to find a solution. those talks have been going for 15 hours. together with the i.m.f. news, it has been a very, very busy morning for one man in particular, ryan chilcote. we'll get to the details on the foreign policy side of things. deal with the finances first. >> more than some were expecting. the finance minister said she is looking to 15 billion from the i.m.f. now we're getting 17.5 million. how much of that money comes up front? that the what we'll soo to see. lagarde saying that this plan that she is presenting now still needs board approval. paying attention to a whole bunch of different stuff here including what is going on in minsk where we have the four leaders, the russian and ukrainian presidents plus the leaders of germany and fr

our guest top christine lagarde. christine lagarde, managing director of the inf international monetary fund. she will be here to promote money later on. a lot of surprising results from last night i don't think anybody expected-- oh and the oscars too. about common and john legend though come on. those guys whooo! they were, that was one of the best moments on tv i've ever seen. but first everybody knows isis are horrible barbaric apocalyptic death full of blood thirsty monsters. i know that it is on all of their advertisements. (laughter) that's why our government is throwing ot all the stops to wipe them out. >> president obama is convening what is being called a summit on countering violence extremism, to defeat the terrorists that go beyond military actions. >> jon: oh [bleep]. (laughter) >> you done poked a sleeping bear isis. and now the bear is having a summit! (laughter) cuz even though this bear is a perfect killing machine it would prefer if just one time other large mammals had an idea. because we are run

our guest top christine lagarde.und. she will be here to promote money later on. a lot of surprising results from last night i don't think anybody expected-- oh and the oscars too. about common and john legend though come on. those guys whooo! they were, that was one of the best moments on tv i've ever seen. but first everybody knows isis are horrible barbaric

christine lagarde is disposed to doing a deal. there have been lots of talks lots of suggestions that they are getting closer and closer to announcing something. the key will be perhaps not the headline number. are they going to get all they need? but how fast are they going to get that money? >> and the currency has been falling. the world's worst performing currency in 2015 so far. >> it is extoraordinary. down 39% year-to-date. >> the conflict has been going nearly a year now. more than 5000 people have been killed. nearly 13,000 people killed according to the united nations. ryan, thank you very much. let's look at some of the other stories we are following this morning. president obama has requested new authority from congress to wage a military campaign against islamic state. it would allow limited deployment of ground troops but would not include their use in offensive ground combat operations. obama said the extremist group presents a threat to the u.s. if left unchecked. >> make no mistake. this is a difficult mission. it

we're seeing imf managing director christine lagarde on the screen there.e understand she has just announced a package, an aid package for ukraine, $17 opinion 5 billion. talk about that. >> reporter: yeah, this is a whole different order of magnitude from the $ 0.5 million that the united states -- $ 0.5 million that the united states put on the table the other week but it shows it is part of the show of financial support from the west trying to help ukraine prop up its ailing economy which is of course suffering from the strike that's going on in the east of the country and, of course it's curtailed relations with places like russia. this is a country that's seen its currency literally collapse its economy collapse over the last two years. and they need money badly. this $17.5 billion was rather widely expected at the summit. also as they point out ten minutes ago or so in the press conference lagarde said it is part of a much bigger program that include around $40 billion that will help to go to prop up ukraine's economy, all part of this push of fining

christine lagarde, let me start with you. the world needs more easing. how difficult is it going to be for the fed to raise rates? >> the fed is probably going to raise rates this year. our expectations of the imf is that to happen in midyear than the end of 2015, contrary to what is expected. the fact that the fed is going to do that is good news in and of itself. it shows that two things are moving in the right direction. employment is up, unemployment down. and inflation is hopefully giving little signs of moving up in the right direction. with these two indicators, which have been extremely well communicated and identified by janet yellen, who has done a terrific job in communicating and giving the right anticipations to market operators, i think that it is good news in and of itself. the consequences will be a different story. clearly there will be side effects, spillover effects, and volatility as a result unavoidably. in terms of the sheer raising interest, it is clearly a good sign. it is clearly an indication that the u.s. is growing, that it is

christine lagarde, let me start with you. the world needs more easing.ow difficult is it going to be for the fed to raise rates? >> the fed is probably going to raise rates this year. our expectations of the imf is that to happen in midyear than the end of 2015, contrary to what is expected. the fact that the fed is going to do that is good news in and of itself. it shows that two things are moving in the right direction. employment is up, unemployment down. and inflation is hopefully giving little signs of moving up in the right direction. with these two indicators, which have been extremely well communicated and identified by janet yellen, who has done a terrific job in communicating and giving the right anticipations to market operators, i think that it is good news in and of itself. the consequences will be a different story. clearly there will be side effects, spillover effects, and volatility as a result unavoidably. in terms of the sheer raising interest, it is clearly a good sign. it is clearly an indication that the u.s. is growing, that it is r

early this morning in brussels, the imf, christine lagarde, announced a new package that is worth ine $40 billion over four years, from the imf. it's $17.5 billion loan. now, she's announced this because ukraine's economy is really struggling. its currency has nosenose-dived. the production of coal has slumped. and the fight over debaltseve is not helping matters, because that is the rail hub where coal from the east gets out. a real problem. ukraine, in a nutshell needs a lot of cash and needs it quickly, hence christine lagarde made this announcement. she said there would have to be those continuing reforms. a lot of pressure now on the ukrainian government to continue those reforms. let's hear a little of what she had to say. >> they have agreed to continue the energy price increases, to bring it to market. therefore, eliminating a lot of unnecessary public spending. while at the same time putting in place and reinforcing the social safety net that is needed for the people who are in need. these two go together by the way. the second thing that they will be doing, as well in the f

christine lagarde in brussels announced a financial aid program.t is significant chanel still without an agreement. she did say it is a deal without -- that is not without risk i.e. geopolitical risk. clearly an effort by the imf to say they are respective of what happens and we stand by the ukraine. we want to keep ukraine from of warning default. a lot of people would say it is pretty late, they got 15 billion last year and now -- the ukrainian currency -- >> 17.5 billion. >> the eu has to come up with some of the money and russia is responsible, russia linked the ukrainians 3 billion and will they do a deal on it russian mark i would not get too hopeful on it. -- on it? -- i would not get too hopeful on it. a lot of people in kiev would say our currency was the worst performing last year. and the sector is incomplete crisis. it would be great to get the financial aid earlier. >> ryan chilcote, the latest on the imf loan. >> let's go from one potential deal to another potential deal or may be no deal, we will wait and see. the greek gridlock is c

imf chief christine lagarde announced the rescue plan thursday morning. >> it is ambitious, it is not without risk, but we believe that it is a realistic set of macroeconomic framework first and ambitious reforms, but reforms of the authorities feel confident they can deliver. >> the on imf will deliver the $40 billion to be forwarded over the course of four years. kiev has already received $4.5 billion as part of a previous package agreed last year. as the finance minister told us last month, the war with pro-separatists in the east of the country is crippling ukraine's economy. >> dealing with three sets of problems, first, the war, which is costing us $17 to $10 million a day. we are having to pay for the electricity and gas and heating and not being reports -- not being reimbursed. it is $1 billion basically subsidized and we have lost 20% of the economy so we are in a situation where it is not good. >> the great asked the imf to replace the existing bailout to help it face off bankruptcy. and you return, ukraine will have to claim down further on corruption, raise energy prifces,

christine lagarde, managing director of the imf. gary cohn, coo and president of goldman sachs.

imf managing director christine lagarde wrote the euro, the dutch finance minister was saying she haseconomic reforms that greece proposed and she says it is a valid starting point. those are her words. and it is not very specific. she is being critical, betty that a lacked clear assurances and tax reform will stop i'm telling you, if you have seen that list as i have, you'd have to agree with christine lagarde. nevertheless, this is a major step for the greece. back to you. >> thank you so much, erik schatzker, live in athens. as you can see from this chart am a greek stocks have been surging on the prospect for this deal that is now come through apparently. david kelley back with me from j.p. morgan funds. just when we are relieved, there is going to be another obstacle down the road. at least we have bought some time. >> greece can never pay this money back. let's be honest. even the state of the greece economy and the size of the debt, they will never pay back. the logical strategy in the last two years has been string greece along long enough for the rest of european economy to g

cory: meanwhile, christine lagarde and ecb president mario draghi both say that more strength is needed for great reforms. president obama has vetoed a bill approving the production of the keystone pipeline. the senate will vote to override it the veto. votes are needed to override in both houses. the pipeline would go through oklahoma, and nebraska. the fbi is offering a reward for the fugitives related to the hacking. he is the hacker known for the game over zeus virus that got over $100 million from victims. olbermann has been it taken off air from ees be a -- espn. he continued to send it twitters . after criticizing their difficulty with the english language than all apologized. espn called the exchange completely inappropriate. hewlett and packard's meg whitman said the company's turnaround remains untracked. the earnings tell a different story. revenues are down to 1.4 billion. dig deeper and some things look even worse. revenue was flat. printing revenue is down 5%. h he is down. it was trading higher but is turnaround on track? bloomberg intelligence joins us from new york. i m

christine lagarde seems to be taking a hard line. she doesn't have the details she wants.he europeans can't throw greece out. do you think the i.m.f. has the political clout or the political bravery to actually do something fairly significant here? >> i don't think so. the i.m.f. sitz constrained. it has already been -- in the past for putting so many resources in rescue programs in europe. basically the i.m.f. is a worldwide organization. i don't think it can take over. that is out of the question. >> do you think he can walk away from giving greece more loans though? if it does, it will make life very difficult. >> it would make life politically difficult. technically no. essentially the i.m.f. has been brought in for political reasons. motte for technical, financial reasons. >> provided political cover. >> that's right. it was a political move. it was not because we needed -- europe -- an institution with financially deep pockets. no, the pockets were deep enough in the euro-zone to do it. the political cronstraints -- >> i guess it is just another check. but i know you

christine lagarde said does not offer clear assurances this will actually happen.horities say a tax on ukrainian troops have fallen off in the last couple of days. ukraine -- said attacks on ukrainian troops has fallen off the last couple of days. ukraine said it will not go back from the front lines. the former white house chief of staff rahm emanuel got 35% of the votes, garcia under emmanuel. tom: and the president has sent the controversial pipeline bill back to congress. he has vetoed the $8 billion pipeline from canada through the u.s. and it appears that republicans don't have enough votes to override the veto. in the past republicans have said it would create jobs and reduce oil prices. put away the expensive cameras. a show tonight on iphones of every kind. >> mistress came from face timing with my daughter a college and i was looking my screen and there were some e-mails and script i was working on and i could see her and myself and my wife standing behind me and some webpages open. and i thought, this paint an amazing picture of my life. you can tell a l

think about this -- it was february 12 that christine lagarde came out and said the imf is going to provide5 billion in financial assistance to the ukraine. in addition to maybe $25 billion more from other countries. and yet what is happened with yields? yields have gone at the time from 37% to the 5566%. investors cannot get rid of ukrainian bonds fast enough or they are just a little too concerned about the deteriorating economic situation in the country. the country's ability tree payloads. part of that is the geopolitical problem. the continuing conflict in the east of the country. we had a note out, a statement from the imf late yesterday saying that they are going to meet on march 11 to discuss the ukrainian funding, that $17.5 billion could not come fast enough. the imf saying if ukraine gets the money, they will frontload that cash. but we did also hear from two people familiar with the deliberations saying that while they think that money is going to come if the war expands, if it goes to other cities like maripol what you could see is the imf getting cooler about providing that mo

mark: last week, the imf chief, christine lagarde, was talking about the situation in the eurozone. she said she would call for a decisive push for structural reforms. is that something that the finance ministers are pushing? are they pushing hard enough for that to happen? john: structural reforms are very much a key element of the agreement between the troika and the greek authorities. the idea is to try to improve the competitiveness of the greek economy that is at the heart of their economic weakness. the issues on austerity and financing are really issues just that, short-term financing issues. the real heart of the issue are the structural reforms producing improved competitiveness. that will be -- that will have to be discussed. are they going to carry through on those elements? mark: it's one thing to be a candidate and then another to actually govern. mr. suppress when he was running for prime minister -- mr. sipras 20 was running for president -- mr. sipras, when he was running for president, he said he would change the dynamic. has that reality sunk into the office that t

cory: meanwhile, christine lagarde and ecb president mario draghi both say that more is needed -- more strength is need for great reforms. ukraine accuses the progression rebels of using the truce to reinforce other lines of attack on the ukrainian troops. meanwhile, foreign ministers from russia france, and germany met today to reaffirm their commitment to the cease-fire deal. sony has named tom rothman as the new chairman of the sony pictures group after the departing amy pascal, who is leaving after the mass of the cyber attack -- the massive cyber attack. meanwhile, sony has also extended the contract of entertainment ceo michael linton. and apple is going to overhaul its genius bar for his concierge service. starting the week of march 9, customers seeking genius bar assistant can walk into the store and get a specific time to return for the apartment. this is based on an algorithm that prioritizes the priority of your problem. now to the lead. the gut wrenching contraction at hewlett-packard finally over? hb is already out with news this morning. the company says it signed a 10 ye

"america tonight's" joie chen spoke with the head of the imf christine lagarde first woman to hold that position. continual aspiring to keep women from the workforce. >> this is something we different we would expect from imf i should say. why is it different as you as a woman? >> it is largely an untapped market in many corners of the world. there is pretty much everywhere a gender gap in terms of income, for instance. and there is a gender gap in terms of access and opportunities in many countries. >> this study is it as much a message to donor nations as it is to recipient nations about how they go forward about how women are seen in the workplace? >> i think key message we try to convey in this report is that not only is it important to have equal access to education equal opportunity in terms of childcare, equal opportunity in terms of parental leave and joint responsibility which is sort of, you know, common ground and conventional wisdom particularly in the advanced economies, not so much in the low-income countries. >> why is it of so much person concern for you? >> there is a l

so if we go back to the situation in ukraine first, the imf, christine lagarde has said, yes, basically package for ukraine, amounting to some $40 billion. now, $17.5 billion of that will be money that comes from the imf. she said this could be a turning point for ukraine and she said it's been made possible by kiev's determination to tackle corruption and its progress in some reforms, like the reform of energy prices. she said that is what's made today's agreement possible. >> well clearly, the ukrainian authorities are demonstrating a determination and a courage to reform, like we have never seen. another example of that they have, for instance not only reached the targeted deficit for this year but they have exceeded the objective. >> reporter: but alice, as we'll see, as the talks progress today, the bailout deals offered by institutions like the imf are not always universally popular. we'll hear a lot about that. as you can guess, from the new greek prime minister alexis tsipras. >> and greece, of course is the other hot topic. marathon discussions between eu finance ministers toni

christine lagarde, managing director of the imf. gary cohn, coo and president of goldman sachs.ay dalio, founder and chief investment officer of bridgewater. ana botin, chairwoman of banco santander. larry summers, former u.s. treasury secretary. thank you for joining us in this great bloomberg panel debate. the world needs more easing. how difficult is it going to be for the fed to late -- raise rates? >> the fed is probably going to raise rates this year. our expectations of the imf is that it is more likely to happen midyear than the end of 2015 contrary to what is expected. the fact that the fed is going to do that is good news in and of itself. it shows that two things are moving in the right direction. employment is up, unemployment down. and inflation is hopefully giving little signs of moving up in the right direction. with these two indicators, which have been extremely well communicated and identified by janet yellen, who has done a terrific job in communicating and giving the right anticipations to market operators, i think that it is good news in and of itself. the c

imf chief christine lagarde announced guinea, liberia and sierra leone will be eased of around $100 million in debt payments. >> the imf is giving debt relief to these three countries through the catastrophe containment and relief trust, which will provide grant aid used to relieve the debt for the next two years. i have actually received already from one major donor the commitment to provide additional funding, and i hope you will not be via -- that there will be more that will follow suit. >> the $100 million figure amounts to about one-fourth of the total the three countries collectively owe. the joint debt is set to jump to $620 million over the next three years because of previously announced loans. in a statement, the group jubilee debt campaign said -- "grants should be given to cope with the impact of ebola, not more loans which leave an unjust debt to be repaid over the next decade." the obama administration says the recidivism rate of guantanamo bay prisoners has fallen since president obama took office. according to the white house just six guantanamo prisoners have engaged in mi

international monetary fund manager christine lagarde called the plan sufficient but lacking necessary detail. john boehner says congress is sending president obama legislation to build the keystone pipeline. the white house indicating the president will veto that legislation. it would bes the third veto of the obama presidency. >>> vet raps fares secretary robert mcdonald apologized for lying about his military record. he told a homeless military veteran in the special forces he was in the special forces. the white house said it still supports mcdonald. >>> your chances of getting audited have dropped to the lowest level in a decade and it's expected to fall further this year. it's a little good news. according to data ob tabds by "usa today." the reason budget cuts at the irs. for more go to cnbc.com. that's the cnbc news update for this hour. back to you, scott. >> all right. thanks so much. see you soon as we head to break, the 10-year yield, is right there at 2%. there it is under 1.99%, perhaps some market participants taking whaten had to say more dovish than what they expected.

to our second powerful female, christine lagarde, imf president, european markets cheering her approval of greece's reform proposal. that paves the way for greece's $273 billion loan extension for four months. but the greek stocks loved it. look at the composite, it rose nearly 10%. can you imagine if the dow rose 10%? and in the u.k. the ftse 100 closing at a lifetime high, 6,949, it took them 15 years to get back up to that level. germany's dax recording its sixth high of the year, and the u.s. trading floors still open with just under an hour to go. we could see several new record closes for your money, so let's start the "countdown." ♪ ♪ pleasure. liz: here's a question, is it too soon to say hold onto your hats? fed chair janet yellen testifying in front of congress today indicating that the fed sees improvement in the economy but only will be considering raising rates on a case-by-case, moment-by-moment basis. >> the employment situation in the united states has been improving along many dimensions. if economic conditions continue to improve as the committee anticipates, the commi

the international monetary fund helped fund the bailout, and its leader, christine lagarde, said today open to considering athens' ideas. >> ( translated ): they are absolutely competent intelligent, they've thought about their issues. we have to listen to them. we have to start working together and it is a process that is starting and is going to last a certain time. >> woodruff: greece's current bailout ends on february 28th. the u.n. refugee agency reports more than 300 migrants have died trying to cross the mediterranean from libya to italy. it is the latest in a string of such disasters. the victims had no food or water, and their small rubber boats were overwhelmed by heavy winter seas. also today, the captain of the italian cruise liner "costa concordia" was found guilty of manslaughter and abandoning his ship. francesco schettino now faces 16 years in prison for the deaths of 32 people. the cruise ship smashed into rocks off the island of giglio in january 2012. the ship filled with water, and rolled onto its side. back in this country, the fight over funding the department of

remember we sat down two weeks ago and watched that cease-fire get concluded in donetsk and christine lagardeout in brussels and announced an aid program in addition to other money from other countries. what has happened with the ukrainian bond yields since then? then it that way at 37%. investors are really concerned this imf of money, while it is not coming quickly enough. the imf came out with a statement yesterday saying they are meeting march 11, two weeks shy of it now, if the aid is approved and that is the expectation, they will frontload the disbursement of that money and give them 5 billion on was immediately. there is so much concern in ukraine that this conflict which has gone cold could heat up again and that clearly is on the mind of investors. >> ryan chilcote with the latest. >> testing and ctification. earnings this morning and we will speed to the ceo after the break. ♪ >> welcome back to "the polls." earnings are out for the world's second-largest certification services the company missed estimates but sees improvement for the year ahead. joining us for an exclusive intervi

christine lagarde says greece must do more. ukraine talks yesterday between foreign ministers broke down to finger-pointing. russia and ukraine lane each other for violating the cease-fire deal. president obama's national security advisor has sharp words for benjamin netanyahu. susan rice called the plan to address next week disruptive. that yahoo! is expected to speak against negotiating a nuclear deal with -- benjamin netanyahu is expected to speak against a nuclear deal with iran. >> a degree of partisanship which is not only unfortunate, it is destructive of the fabric of the relationship. it is something that is distraugh -- >> destructive. >> we need to keep it that way -- it has always been arson we need to keep it that way. betty: 1/5 of all southwest airline jets need a safety inspection. regulators say they may still keep flying. the carrier grounded 128 planes because backup rudders had not been checked. -- backup rotors have not been checked. those are our top headlines. target just coming out with their fourth-quar

. >> some have suggested, christine lagarde, saying we of not had another detail what the greeks aretted to. varoufakis said we were offered three but we gave up five. the market remains a bit confusing, investors should be convinced it will end well? >> the end of this is probably too far to see. this will continue to rumble on for the rest of this year. we have this form was the deadline and another six-month deadline. this will stay with us. what we heard from yellen in the background is she watching the u.s. data and pointing to inflation and the stronger dollar and seemed a bit of weakness and not as wrong us as it could've in. therefore, the ecb, the said and the boj -- the fed a boj remain very russian in stimulus mode and the market is looking. the extent -- and a slight turn we are seeing that a positive direction of the global economy. >> global equities are at a record high. what is the case of equities to go even higher from here? >> valuations are not stretched and we have got growth that is recovering. earnings look relatively steady and balance sheet have been rebuilt.

christine lagarde, we could blame her, she was on the list.dividual basically what it is last week we had the labor leader accusing the tories of not really looking over the quality of where their money comes from an hsbc back into the spotlight. i opened the papers, gulliver saying we have structurally change. out of the key names and the british press, 106 do not do business with us anymore. and fundamentally changed how it is run. i employ 7000 people for compliance. in terms of private banking and he has had it to come forward and say i have change things so much. >> what an amazing thing to put a public lender in sunday newspapers. i cannot remember the last time. >> apologize for doing business it is a last time i can remember, you are right. very interesting public relations. maybe it is unfair of me to say its public relations. these are advisors. you have to tell the public this is something you change. >> a reputation risk and at length's, the tory party. >> correct. last week, one of the major people in the tory party we saw which w

christine lagarde says greek proposals do not offer clear assurances. more cutbacks at the hollywood studio behind the shrek movies. dreamworks animation after posting a $253 million loss in the fourth quarter. they artie announced plans to cut 500 jobs and reduce production from the greece -- from three thumbs a year to two. charging and the fourth quarter for films that underperform such as mr. peabody and sherman. in chicago, the mayor hit a speed bump on the road to reelection and has been forced into a runoff and emmanuel will face the cook county commissioner garcia on april 7. the former white house chief of staff under president obama got 45% of the vote. plagued by persistent violence but the city is threatened by a solvency because of $20 billion in unfunded liabilities. >> i just think it is too cold there. that is how i feel. it is very windy. >> i am not sure it is really that wendy. >> it is. more on janet yellen's second day of testimony. she will be giving the same opening statement as yesterday and then will open questions from members

it is not what christine lagarde wants.a: what cyprus did two years ago, the point is hereto, what, by more time? josh: it is not clear -- olivia: this is a quote from an economist in brussels, a well-regarded economic commentator, who is suggesting that this is one way cyprus can buy some time because it looks like the ecb is testing greece by pulling this waiver. they have to go tap these emergency funds from the greek national bank. brendan: this is something daniel gross has been talking about for a while. i talked to him two years ago about all of the flows of german money that went to greece a couple of decades ago and he said these are things the germans are not aware of. they are not aware that it was their capital that went to greece that became part of this problem, so we look at greece as a problem child. we are ignoring the flows of capital north and south within the european union that contributed that problem. that is one thing that yanis varoufakis has been very loud about. josh: it is a great shakeout in ter

. >> christine lagarde says there's a big difference between a bridge and extension as far as she isconcerned. is the line to be blurred? it's difficult to go back to their people and say they extended this bailout. >> if in the mind of the greeks it's a bridge arrangement that's also fine but bridge arrangement would be a combination of the funds available and the conditions that go with it. this is how it works. we are always ready to support euro zone countries in trouble. it always goes with conditions. it's all about fixing the economy. stabilizing the banks. that is what the greek government also has to accept and work with us on those issues. if we can do that we can work on a bridge arrangement or extension. it's the money and conditions that go with it. >> it was a plan on the table on wednesday though. that's been removed from what i understand today. why? >> there have been many drafts and this is always about words but behind it is a political debate. political debate is quite fundamental. i said to the greek minister let's have this fundamental debate over the next month

you see christine lagarde addressing reporters there. this will be a key decision about whether they get any of the money sitting there that they are waiting for. >> kim forest what's your first blush on this? we've all been watching this. we've gone from this is so important to markets up 150 points on this to earlier this week that the greek situation was a side show for the u.s. market. does it matter to you as a u.s. investor right now? >> well it matters in two ways. first, as you noticed or as you have been noting the market reacts to this, and i would say the market overreacts to this because the market always overreacts in the short term. in the longer term it really is key to see whether or not this country, it doesn't even matter what country it is really but can a bad performing participant in thee u, can it escape? that's the question. everyone in the eu is trying to say no they can't and how make this bad actor behave well and at least attempt to pay back some money or borrow less or something like that. but, you know, that'

. >> we've also got christine lagarde, the head of the imf in the meetings at this point. f imf is one of the creditors. the ecb is a creditor. the germans are a big creditor. here we are again going late into the night with the euro group meetings. >> yes, yes. and so let's see -- we understand that they're preparing a statement at this moment and let's see the statement when it finally comes out. >> why do you think we won't see a finalization until monday michelle? it's kate again. >> they had to work out the technical details of the extension of the current program. and why there are more technical details to be worked out, i could not get clarity on. >> yeah. all right. we'll leave it there for now. thank you, michelle for bringing us that. we're seeing the euro go into positive territory. 1.1325. we saw a little pop in s&p futures. this is the kind of reaction investors were looking for. >> that's a great scoop for michelle. i was looking at the "ft" and other sites and nobody seems to be reporting this yet. >> we'll see what happens when the finance ministers come o