jean claude junker urged greeks to deny claims. tuesday was the deadline for greece to repay $1.6 billion euro zone or $1.8 billion. we now know that it will not be repaid. greeks have been queuing to withdraw their maximum 60 euro limit from bank machines. barnaby phillips reports. >> this petrol station is closed until a tanker turns up with new supplies. we saw about a third of stations were closed, the result of panic buying over the weekend. but without the free flow of cash the greek economy could grind to a halt. >> translator: there's no shortage of petrol. there's plenty in the country but petrol stations need to pay the up front in cash now that the banks are closed. >> reporter: and for now the banks are firmly shut. with confusion on the streets outside, some people could take the daily limit of 60 euros from the machines. others weren't so lucky. most vulnerable the pensioners. many of whom don't have bank cards. antonius 82, waits outside the bank to collect his pension with friends. >> translator: he heard a report i

in the meantime in brussels, the commission spokesman for jean claude junker, the commission presidenthey received a counterproposal from the greeks. and you started getting a briefing from "reuters" in particular. junker said the greeks are back-tracking on the budget targets he had already agreed to with them. in athens, ware waiting to get any comment from the greek prime minister. you see him arriving at the serisa headquarters earlier today. extend the deadline for the cash that disappears currently on the agreements at the end of this moth perhaps for another year or so the greek prime minister gave an interview with the italian press where he said when he meets merkel tomorrow and indeed the french president, they will define a clear timeline on the negotiations. however to be honest, if junker is reacting to the way in the way that he is, i would have thought that that statement is now somewhat dated. because i don't think hollande and merkel are likely to roll over in an environment where they're back-tracking, back to you. >> simon, thank you very much. >>> when we come back,

. >> yesterday john claude junker accused the greeks of distorting the way in which they had made theirnterproposals. before of course they unilaterally said let's have a referendum. what do you think the game of the greek side is now to come through with this type of measure, if as you basically say it's a nonstarter from the beginning. to whom is tsipras playing? >> i think tsipras is trying to show they're trying to compromise and find a solution up until the very last minute. which is basically today. by midnight when the program expires. >> you also see a little bit of posturing on the side of europeans, they just call a euro group for 5:00 p.m. gmt time. i think they're both playing a little bit that game of saying look we are trying to be at the table and the europeans are responding sure, we look at your proposal and we examine it and we'll get back to you. think they're both playing, responding to each other. >> antonio, you will know that earlier today, angela merkel said she wasn't aware of an offer. the bailout will expire tonight. if the second bailout, with all the cash th

the chief jean clawed claude junker said he wants to vote on the referendum. >> it had never been an option. i always told my greek friends they shouldn't believe at the end of the process i will be able to present the final solution. >> rose: joinl joining me is lionel barber, editor of the "financial times." here in new york, roger altman, chairman of evercore partners and investment banking firm. and joe weisenthal, editor at bloomberg markets. you have been following the story closely, lionel. tell me what a yes vote and no vote means. >> we don't know whether they will vote or what they're going to vote on because the deal rejected by the greek government over the weekend is not on the table, so in my view, it comes to the euro versus the drachma. do you want to stay in europe at a price or go backwards leave the euro and have your own currency which is tremendously perilous. let's say we don't know the result but a yes vote offers the space for new negotiations on a bailout plan for greece. it also likely would hold a new greek government, so mr. tsipras on far left grouping wo

there were a lot of hopes put in between tsipras and jean claude junker.d to anything concrete. we've always ended up having someone come in and crush expectations that something would get done. >> michelle, you played for us the clip of the prime minister on television last night. i mean, clearly saying do not vote on this referendum for this bailout package. they're not going to kick us out of the euro and now there's talk he could change his position on the referendum. do you see that likely and does it matter where his position comes down with respect to where the greek vote goes? >> reporter: well the rumors were he had been offered this proposal of some kind but one of the pieces of conditions was that he would have to support the referendum. we kept waiting to hear what he was going to do and now a statement came out from the government saying he's still telling everyone to vote no so apparently that rumor is incorrect and he's still standing by it at this point. if he supported the referendum i think he's more likely to get a yes than a no but now

but he is considering a last-minute deal from european commission head claude junker to come to a last-minutegreement. that is why oil is up. oil is also a because concerns that the iranian deadline is not going to be met, john kerry just came out of the statement saying he is here to get a deal done and things they can get a deal bundle will traders are watching at as well. take a look at gold. gold seeing optimism, the big sell-off, last-minute deal for greece can get done. maria: worries about a greek deal, continue the question, still remains will greece be equipped to make any recovery. recent supply chain study from the global insurance co. f m global ranked greece 65th of 150 countries. it will usher in greater friction and turbulence. joining us is president and ceo tom watson. thanks for joining us. is not unintended consequences the direct consequences making things worse. explain what the impact is. >> the resilience index is a 1-of-a-kind data driven tool that ranks supply chains, vulnerability and resilience in 130 countries around world. different factors, the exposure to risk m

shot clock juncker -- jean-claud ye junker is there. >> the reason why he is incredibly important isause he was the big supporter for mr. tsipras. it seems to be some kind of agreement that maybe we can find some common ground but one -- when mr. tsipras turned his back on him, when he seemed to go back and accuse the european commission of going no further from that point on, mr. yunker -- junker has made it clear. watching what germany is preparing for, what happens if there is a bankruptcy when we introduced capital controls will be the key story. anna: do you think there is truth to the reports that capital controls -- the governments are planning for a plan b that could involve capital controls, do you think all that is happening behind the scenes? simon: i did find it quite odd that overnight there were these stories leaking out about the possibility of capital controls as soon as this weekend. there have been stories behind the scenes about capital controls. since last thursday or friday. do i take it seriously? absolutely. could it happen this week? there is no answer. anna: