they obviously were very involved in the cypress economy. they have a lot of money in the cypress economy and you can imagine, but not -- but their involvement is nowhere near the scale of the involvement of say the western europeans. >> there was a lot of talk when cypress had its crisis that russia come in and save them. cypress is so small and russia has so many efforts, they probably scoff done it. there's no way russia will, i don't think, come in with any sort of significant amount of money, but i think the geopolitical aspect is one angle that makes it important for european leaders not to let greece go. greece, it's an important point. physically a loft immigrants. migrants come up. so these factors do come up in terms of not wanting greece to leave. >> russia is so weak economically and financially -- >> rose: because you mentioned oil prices. >> that's right. and the shrinking of its own foreign exchange reserves and so many other aspects of weakness, if russia were to truly bail greece out in a one or two-year basis, it would be s

anchor: leaders from cypress' anti-30 party reacted to the proposal with resounding rejection. reporter: emotions are running high in greece, especially in parliament. leaders say the need for a bailout does not justify more austerity. to them, the demands of greece' s lenders are simply exacerbating the situation. >> they do not want to knowledge their errors on the austerity policies and the bailout. they want to subdue, to crush any resistance from those against their policies of never-ending austerity in europe. >> in brussels, the tone was more moderate. the eu's economic minister spoke of having to run a tight ship in the eurozone, but he stressed that greece should stay in the currency union. >> my deep conviction is that we will find a deal increase because that is necessary. >> the eurozone's top brass have all echoed that sentiment, but as negotiations dragged on greece's future with the euro as its currency looks increasingly uncertain. >> but there are still a few days to go until then, and the greek prime minister is back in athens to brief the parliamentarians and

we're by cypress court in washington township and you can see there's power lines in the street there'sfrom the trees, napped branches, some of the roads are blocked here. this neighborhood is going to spend today picking up after this storm. >> the trees moving. it was unlike anything i've ever seen. >> reporter: this family took cover in their basement shortly after 6 o'clock last night. when the family finally emerged they couldn't believe the damage to their house their car their neighborhood. >> it's hard to walk. there's power lines down all over the place. you're afraid to touch anything. but it's hard to maneuver and get through our neighborhood. >> reporter: the winds were fierce uprooting trees and pinning down power lines. in the parking lot of the deptford mall a car flipped over inform cherry hill trees crashed through house roofs and fences. some roads were blocked. in gibbstown more destruction. utility poles mangled. the intensity of the storm took some by surprise. >> it was awful. sky got really dark. all this rain and wind. just devastate backyard. our neighbors the s

we're standing here by cypress court and you can see all that debris in the street. blocked roads. expect a lot of them when you head out today in this area. there's going to be delays. there are going to be detours. do not attempt to drive through. these storms hit with a fury and left a lot of damage behind. >> we had minimal damage for sandy compared to this. >> fierce storms tour through washington township last evening. tall trees uprooted, heavy branches snapped. they fell on purchase lines houses and cars. in gibbstown more destruction. utility poles mangled and twisted. the intensity of the storm took some by surprise. >> i grabbed my kids and i ran in the basement and it was terrifying. it was loud and you just saw like something out of a movie when you see the debris going around and around. >> reporter: the rain was heavy, the winds fierce. in the parking lot of the deptford mall a car flipped over. in cherry hill trees came crashing down on houses and fences. some roads were blocked. >> it was pretty scary. it ripped our canopy out of our deck. it was nai

i think that the game theory that cypress uses relies on the reasonable man theory.unreasonable man who change history and do things. the black swan dynamic, the 4th of july weekend, terrorist attacks, we've been warned that could occur. we're wondering and looking at reasonable man making decisions, will there be an impact in new york and any other capital in the world which changes the financial dynamics for the deal. charles: i think tsipras is a nut. the guy has done a terrible job. they will wake up. maybe not tomorrow, but they will. lou dobbs is next. >> good evening, everyone, i'm trish regan in for lou dobbs. breaking news, americans need to be on heightened alert to the threat of a terrorist attack heading into the independence day weekend. law enforcement sources telling fox news that the fbi is establishing command centers throughout the country nord monitor activity given areas over the 4th of july holiday in the wake of a series of terror attacks on three continents in which more than 60 people, mostly westerners were killed. attacks are raising new fea

with cypress it had to go for a bailout a couple of years ago they had gone to the russians, who did something in terms of supporting the banking system but when they asked for a proper bailout from them, the russian said very sensibly, well, we want conditions, as well, just like the europeans would want, so in the end it was take it or leave it from europe that convinced cypress it had to go with the europeans. so the russians do not want to lose an awful lot of money but of course things have changed geo politics have changed since so who knows their interests right now. >> the french president francois hollande has had a joint news con convince with the prime minister and said talks and negotiations must continue so that agreement is reached. we'll see how it all pans out tomorrow, thank you very much indeed for your perspective on this. let's take you back to the u.s. state of south carolina where a church service is underway at the emanuel african methodist episcopal church. i didn't have us a sense of how the community has been dealing with this appalling event. >> very solemn

cypress has taken another step toward better fiscal health. the international monetary fund approved assistance to the mediterranean island nation as part of the continuing rescue deal that prevented cypress from collapse in 2013. the european union has approved more than $10 billion so far. >> in afghanistan, the taliban is in control are a key district in the northern province, the takeover followed hours of fighting between the taliban and afghan security forces on saturday. at least 19 civilians were killed when a roadside bomb struck their vehicle. nine children are among the dead. the taliban attacked a checkpoint killing six police officers. without any outside military support, of a gap forces say they are outmatched by the taliban. >> this is the front line. after began army and police are on one side of the river the taliban on the other. the taliban controls the district a few kilometers from the city. it's the first time it's been able to seize an entire district. the army has sent reinforcements. this is the first year afghan forc

nathan flies to nicosia cypress in the mediterranean to meet for those does it.i'm been outstanding fbi followed him to cypress and i'm just going to read a very short section from chapter 1 here. jumping back and forth. for sheer whimsy you have to give it to the russian. he summoned nathan 10 timezones from home to nicosia a city known for its old world cuisine just to rendezvous in front of the tgi friday's. they then stood on a wide sidewalk as darkness fell over a shopping district choked with nightclubs and restaurants. towering streetlamps bathed him in light as he fidgeted in front of the texas-based chain restaurants familiar red and white awnings. he looked for all the world like any other hayseed american tourist in other culture is yankee who had stumbled into the exotic crossroads of europe in the middle east only to forgo the local fair and feast on jack daniels porkchops new york cheesecake and 6-dollar budweiser's. he wore jeans, sneakers and a camel a spot cap. the russian are presented him with a hat at their last meeting and instructing nathan

there's still a real risk that athens can be forced to grows capital controls, as cypress did in 2013. prime minister was signing a pipeline deal in russia and he appears in no position to compromise. >> solidarity, democracy social justice. by sticking to policies of as you tairtd andausterity. >> athens must maybe a 1.1 billion loan payment to the euro zone, or potentially be forced out of the single european currency. >> we do not have a guarantee for that if the greeks are seriously ready committed to getting tear budget in order and to make steps towards it, then it is possible. >> we hope for best but we now must be prepared for worst. >> reporter: the pressure on greece's cash machines mirrors the strain on the country's leaders as they continue to reject demands to cut government spending further. john siropolous, al jazeera athens. >>> latin america's largest manufacturing firm, corruption charges. $2.1 billion bribery scheme at the state owned petrobras. they are accused forming cartels, money laundering and diversion of public funds. >>> canadian police say indigenous women

the spraying will take place along allagash and sonnet courts, sycamore drive, east cypress road, and harborage court and harborage way. >> reporter :we had a nice day today with seasonal temperatures above normal if, but the overnight lows look like this. the satellite radar is showing no rain in our forecast, is a high-pressure system coming in from california that will come into our range and giving us a chance to warm things up and giving us plenty of sunshine in the next couple days you kind of sit here making its way into our region early tomorrow morning and that is when to give was the indication of a fog in the coastal regions, and keep our temperatures slightly below we have today east bay inland highs tomorrow looks like low to opel 80s in general. moving over to the east bay shoreline much cooler or around--all around it looks like a really low 80s and upper '70's move over to the north the region--north bay region there will be fog earlier in the morning that that should burn off around noon time 92 saturday 91 sunday, so there'll be a cool down tomorrow before it gets ho

there is still a real risk athens could be forceed to impose capital controls, a cap on withdraws as cypress did in 2013. as greetion's finance minister was trying to secure more money his prime minister was signing a pipeline deal and is in no mood to compromise. >> the european union we are a part of should find its way back to toidarity dsocial justice by sticking to austerity and policies policies that -- that aggravate the recession, this is impossible. >> aght lens>> reporter: aght athens must make a payment by the end of the month or possibly be force the out of the single currency. >> we do not have a guarantee for that. if the greeks are seriously ready and getting their budget in order and make steps then it is possible. >> we hope for the best, but we must be prepared for the worst. >> reporter: the pressure on greece's cash machines mirrors the strain on the leaders as they reject demands to cut government spending further. >>> still to come: as politicians prepare to sign a peace deal, these fighters get ready for war. will the guns ever fall silent? >>> and a million children m

as much as cypress was forced to cap itulate. as far apart was demonstrated earlier in the day. it was declared that greece neither can nor play it positions at odds with the government. the debt was a result of the sincerity or the cause. these people believe the stand off over the debt is poisoning the economy >>> mark is the co-director for the center of economic and policy research in washington d.c., and says the eurozone leaders are pushing the greek economy to collapse to serve their own agendas. >> the european authorities, including the german government e.c.b. i.m.f. - neither want to see a default or greek exit of euro. what they are trying to do. this is evident since february is undermine and wreck the greek economy so they can undermine support in the syriza government. this is clear. they don't have any other way to resolve the problem. they don't want greece out of the euro. they don't want to push them up and the united states government, putting a lot of pressure on europe doesn't want that to happen. they don't want this government either. that's what they are

union officials described the talks and greek prime minister as a last attempt to reach a deal cypress remains optimistic to stave off default that that lope repayment due this month but they say there's been little progress. >> there are major differences. between us, in most key areas. >> has been no progress in narrowing these differences recently. >> and thus we are well away from an agreement. prime minister is trying to find a deal. austerity, the latest symbolic break with the policies of the previous government came with the reopening of greek state t.v. john reports from athens. >> unscripted they unfalterred as if unsure they were really on air or perhaps overwhelmed with with the emotion of the moment, palpable in the studio as 2.5000 people were allowed back to work. >> but it is a different count down that concerns the creditors the country will become insolvent after the end of june when it has to pay billions of dollars in debt prime minister was in brussells making a last ditch attempt to bridge the differences. >> especially with with differences in fiscal, and the fin

. >> there is still a real risk that athens could be forced to enforce a cap on withdrawals as cypress did in 2013. as greece's finance minister was trying to secure more money from the country's creditors his prime minister was signing a pipeline deal in russia and he appears in no mood to compromise. >> the european union which we are a part of should fight its way back to its principles solidarity democracy social justice, but sticking to policies of austerity and policies that harm social cohesion, and this is impossible. >> athens must make a $1.8 billion loan payment to the international monetary fund by the end of the month or potentially be forced out of the european currency. a meeting on monday is seen as a very last chance to come to a deal. >> we do not have a guarantee for that. if the greeks are committed to getting their budget in order and to make steps towards it then it is possible. >> we hope for the best but now we must be prepared for the worst. >> the pressure on greece's cash machines mirrors the strain on the country's leaders as they continue to reject demands

minister we could see a run on banks before june 30th and that means imposing capital controls and cypress a painful experience with that. this weekend will be crucial. >> absolutely. and of course as we were talking i want to bring up these pictures of angela merkel talk before the german parliament talking about the situation in greece. a lot of concern and particularly there in germany. nina, many thanks to you for bringing us that live report from london. >>> we are following a developing story out of hong kong. >> only if china had vetted the candidates first. >> for more let's bring in ivan watson who joins us live now from hong kong with more on. this it's a victory for those who want more autonomy from mainland china. how did the votes fall today? >> reporter: it ended as expected. there was not the two-thirds vote needed to pass this system of rules that was endorsed by the central government in beijing for organizing elections in hong kong in 2017. what was not expected was that beijing's allies here in the legislative council that they tried to stage a walkout in the middle of t

the flying debris and if you take a look at some of the damage it left behind this morning we're at cypressrt and silver birch and you can see there's debris in the street. heavy branches have fallen down o onto cars and houses in this neighborhood. some of the roads are blocked. there are lines down. power is out. it is a mess. there is a lot of cleanup left to do today. >> the trees moving. it was unlike anything i'd ever seen. >> reporter: this family took cover in their basement shortly after 6 o'clock last night as severe storms hit washington township. when the family finally emerged they couldn't believe the damage to their house their car their neighborhood. >> it's hard to walk. there's power lines down all over the place and you're afraid to touch anything. but it's hard to maneuver and get through our neighborhood. >> reporter: the winds were fierce uprooting trees and pinning down power lines. in the parking lot of the deptford mall a car flipped over. in cherry hill, trees crashed through house roofs and fences. some roads were blocked. in gibbstown, more destruction. utility p

we're here at cypress court by silver birch. the roads are blocked.take a look at chopper 6hd overhead you can see all of the uprooted trees and some have fallen into cars and houses on this block. roads are blocked here so expect delays and detours. do not attempt to drive through these blockades. these storms hit with a fury and there's a lost damage left behind. >> we had minimal damage for sandy compared to this. >> reporter: fierce storms tore through washington township last evening. tall trees uprooted, heavy branches snapped. they fell on power lines houses and cars. in gibbstown more destruction. utility poles mangled and twisted. the intensity of the storm took some by surprise. >> i grabbed my kids and i ran in the basement and it was terrifying. it was loud and you just saw like something out of a movie when you see the debris going around and around. >> reporter: the rain was heavy the winds fierce. in the parking lot of the deptford mall a car flipped over. in cherry hill trees cam came crashing down on houses and fences. some roads were

. >> reporter: and back here live by cypress court you can see there are a bunch of cables in the streetsme lines were down in this area and yet we have seen quite a few people try to come through here. some have actually driven over them. just a reminder that's very dangerous. one guy earlier got briefly stuck. the police came down to help him. really avoid all of these blocked roads. turn around, take a detour. >>> it's just not worth it. we are live in washington township, katherine scott channel6 "action news." >> real good reminder thank you katherine. >>> "action news" reporter erin o'hearn is live in brookhaven delaware county. you can really see the power of these fierce storms where you r-too. >> reporter: yeah, absolutely nydia. now that the sun is up we can see more of the damage on this street school lane and north gray in brookhaven. take a look behind me. if i was the owner of that ford explorer i would not be very happy this morning. that tree is enormous and it toppled on top that of car. it also took down power lines with it. obviously none of the residents in this area h

european union central bank granted to lenders could informs athens to impose capital controls as cypress did in 2013. >> capital controls are very possible. there are huge outflows from greek banks. of course if that happens the next step is chaos and catastrophe. >> translator: it will be tough for a period of time that's for sure. we are entering into a new era that is in charted territory for me. it is completely unloan. >> athens needs to make a $1.8 billion loan repayment to its creditors or go broke and be forced out of the single european currency. but athens is ratification to refusing to institutes be cuts in pensions that the european regulators require. be alexis tsipras will have a bilateral meeting with russian president vladimir putin to discuss further financial assistance. >> translator: we would like to use our position as a springboard. russia is one of the most important partners for us. >> reporter: closer ties between athens and moscow will be watched by european union partners top of the agenda at the meeting of european union partners in you luxembourg. >> in the u

cypress became the fir euro zone country to default. banks closed for two weeks they reopened with tough restrictions on withdrawals and payments. and amid the conflict in the east of the country and a sliding domestic currency in ukraine. the australian market losing $35 billion in the first our of trading on monday. as traders brace for a possible greek exit from the euro zone. japan's nikkei slipping 5% and meanwhile the governor of puerto rico saying the island cannot say the $72 billion it owes in debts. telling new york sometimes that he needs to pull the country out of a death spiral. tomorrow the government is expected to make a reform plan public. company is $9 billion in debt and faces a major bond payment next week. the head of a territory government bank also stepping down. but as andy gallagher reports it is people of puerto rico that are feeling the heat. >> at the quinones family home, saving money on he electricity charges that have risen dramatically. this family's latest monthly bill is close to $700. in past months it

manus: minister, the one thing -- and this goes on francine's question which was cypress implementedontrols. you were in a program there were destination landmarks for allowing your residents, your citizens to have more money and more access to money and businesses. greece has walked away from the negotiating table and is in fault tomorrow. this is structurally a different scenario. there are no bench marks for to us work towards the capital controls. minister: well, i agree. there is no doubt that it is a very difficult situation. actually it's a very grave situation, and i'm very, very concerned for the greek people who have been there and fear that they will face even more difficulties in the times ahead. but i insist the way out is no different. there should a determined policy implementing structural reform fiscal consolidation, taffling the real problems of the economy doing our best in the meantime to alleviate the debt. and in that way, moving forward. what you're describing is a current situation which is very difficult. i'm very concerned about the current situation, and th

in fact, more than 90% of the eucalyptus, monterey pines, cypress would be cut down. >> the goal is to cut the lower reaching trees from the ground. >> reporter: some have filed a lawsuit to stop the trees from being cut down. they say the trees do not represent safety issues. others say they're concerned about the type of herbicide being used to kill the plants off and replace the trees. >>> in oakland's oracle arena have been getting ready for game one. new signs have been posted. everything from the new seat backs to signs on posts. even the rafters say finals. meantime great news for the warriors, clay thompson has been cleared. he has cleared the nba's concussion protocall that happened today. he joined his teammates at the practice this afternoon. thompson was hit in the head during the western conference finals last weekend. he showed concussion testing that night and has been undergoing tests every night. scott reiss on the journey that has gotten the team where it is today, coming up later on tonight. >>> it's a $5 billion a year business that requires a lot of water. at 10:30

and there is still a risk that athens could be forced to put a cap on withdraws as cypress did in 2013. as greece's finances minister was trying to secure more money from the country's creditors they were signing a pipeline deal in russia and he appears to be in no mood to compromise. >> the european union which we're a part of should find its way back to principles, solidarity social justice by sticking to policies of austerity and that harm is impossible. >> they could become the first euro zone country to go broke and. >> we do not have a guarantee. if the greeks are seriously ready, committed to getting their budget in order and to make steps towards it, then it is possible. >> we hope for the best, but we now must be prepared for the worst. >> the pressure on greece's cash machines mirror the strain on the country's leaders as they continue to cut spending further. >> let's get more on this now from the director of the european union research center at the george washington university. thank you so much for speaking to us. here we go again, we have another round of talks. another

liquidity assistance, it could force he athens to impose capital controls, a cap on withdrawals as cypress did in 2013. >> capitol controls are very possible. there are huge outflows in greek banks. it is very possible this will happen. if it happens the next step is chaos and catastrophe. >> it will be tough for a period of time, that's for sure. we are entering into a new era that is unchartered territory for me. it is completely unknown. >> the athens government must make a $1.8 billion loan repayment to its creditors by the end of the month or become the first euro zone member to become broke and be potentially forced out of the european currency. athens is refusing to i am poles tax hikes and pension cuts creditors demand. athens said that would deepen its economic depression and make its debt problems worse. the greek prime minister, alexis tsipras is on day two of a visit to rush. the meeting has already seen greece and russia sign a gas pipeline deal worth hundreds of millions of dollars a year to athens. tsipras will have a meeting with vladimir putin to discuss further financial

liz: you remember when cypress banks were a total disaster. that began to affect people's 529's in ohio. so we can't ignore this, but ed i'm not hearing either of you guys bring up donald trump. isn't he an international businessman? >> he knows a lot about a lot of things and is going to be more of a factor in the race than people give him credit for. liz: that's a good point. is he going to win? >> no, no, he's going to create chaos, talk to the blue collar voter. i have a friend involved in the campaign. liz: is your friend an actor who got paid? >> a capable campaign strategist. donald had a tight script, went on for 50 minutes and said what he thinks. he has powerful thoughts, knows a lot about a lot. i'd hate to be on a stage sitting next to him, he's an entertainer and basically has done a lot of things -- liz: we have things in south america and he's saying things about raping people. >> yikes. >> the premise of the party is driven by people who say outrageous things. he will appeal to blue collar, but it's not basically as sophisticat

it's important for the rest of the eurozone to gauge the rhetoric of cypress and the degree to whichforward they're going to have to shift their negotiating position it they're going to basically prevent chaos in greece during the course of the next few week. yesterday he returned from brussels where he had negotiations and then held a call with both merkel and hollande to say he was rejecting their core principles. he may have bought time three weeks of time by bundling the imf payments to the end of the month. but that's also when the 18 billion euros on the table for greece expires. with the end of its existing second bailout. now on the streets of greece, analysts are warning now of rising risks of an accelerated run on greek banks. because the ecb may now be less willing to supply them with emergency liquidity. capital controls are more likely. but talk of early elections also makes it some say less likely that greece will actually exit the eurozone, certainly according to rbs. because now 70% of the greek voters in opinion polls say they want to stay within the eurozone. so if

cypress was the first euro zone with capital controls in 2013 as part of a bailout deal. the banks were closed fosh nearly two weeks. last year ukraine restricted citizens from buying foreign currency and a sliding domestic currency. in the next half hour patricia will be here to explain what it means for the u.s. and the global economy. >>> puerto rico is facing a debt crisis of its own. the island's governor says it cannot repay 7 it $2 billion in debted. he's expected to release a reform plan today. he wants to defer debt payments while negotiating with creditors. andy gallagher explains the people of puerto rico are really feeling this. >> reporter: at this house in san juan they're makes drastic changes. the air-conditioning is going off and windows are opened and lights dimmed all to save money on electricity charges that have risen dramatically. this family's latest monthly bill is close to $700. in past months it's over 1,000. >> you're clueing your eyes and to see what we come with. >> manuel says the financial burden of rising energy costs has forced him to have

it says it will be in discussions with cypress.mpany attempting to buy it so the socket is continuing. this was upgraded to outperform from neutral. analysts are looking at increased optimism for a recovery in las vegas and stability in atlantic city. juniper is going in the opposite directoion. those were downgraded to sell. maintaining the $22 price target. it says that and a potential acquisition ignore the multistep network that includes fewer routing nodes and fewer opportunities for juniper's business. erik: we have been talking about intel and altera. we are going back to that to point out that even though intel has put $54 in cash on the table -- altera stock is trading at a discount to that price, which may explain -- answer the question we were asking earlier which was why the stock was not closing -- trading closer to $54 on friday because everybody knew that was the number on the table. it should not be affected by intel's cash price -- stock price because it in this -- it is an all cash deal. it is not that big of a de

cypress went to capital controls and did not leave the euro. up don't have to print up that mch currency to bring on inflation. it really depends on how you decide you're going to bring on a parallel currency to decide whether or not you end up leaving the euro. >> what are the odds at this point of them leaving the euro zone? the imf has already walked away. others are throwing their hands up. is it possible they could leave the eurozone? >> yeah i don't think it happens this summer but sometime it could happen. remember, they're fighting over a very small pile of money, 7.2 you're euros. that's just to get them through august. there's a long way to go here and there's a lot of moments where people could just be so frustrated that they end up leaving the euro for sure. >> all right. it's the story that never ends. michelle, thank you for the update on that. let's go to our "closing bell" panel now. rick santelli how would you imagine the market respond here as we go through what is still a contentious issue? what are you seeing in the fixed in

cypress was there but i thought it was pretty impressive as a theatrical move.nders: it's a very sad stage of actors. olivia: you do have germany and china. anders: there are a couple of investors. matt: one guy from munich. olivia: he is the 95th richest guy. anders: it's a sad freak show. in cyprus, it looks like a pirate ship. the only thing putin is missing is his eye patch. this is not a place you want to invest. olivia: why is he doing this now? ethan: my sense is that he is being backed into a corner and this is his way of handling it. it is a useful public relations endeavor. charlie rose being there gives a kind of legitimacy. matt: it reminded me of "the interview." ethan: they hoped this would be the daovsvos of the east. anders: this is now davos. matt: you see the older political leaders in the audience. olivia: you saw that shell struck a big deal with them. ethan: it's not a complet zero. matt: what is your take away as far as what we can expect from the greek-russian relationship? is tsiipros running to russia for a lifeline? anders: russia canno

the whole crux comes when the ecb pulls its money from the greek banks as it it threatened with cypressgo. at that point, the government becomes bankrupt. >> we'll leave there, of course despite mounting frustration, if history tells us about a deal will be reached at the 11th hour. anatole, thank you so much. >>> still to come turkish finance ministry shakes off the results. should the investors be worried about the political uncertainty? we discuss after this break. >>> banking soars as deutsche bank goes to the top of the german after the top ceos quit. john cryan promising to impress clients. >>> the billionaire is preparing drinks for the brazilian maker. shire is eyeing a takeover. >>> turkey's stocks unsettles investors as erdogan fails to within a majority in parliament. >>> g-7 leaders increase the pressure on athens to come to a deal with creditors as they beat in bavaria. >>> and a condmruns of factors weighing on markets today. of course we do have a couple of bright spots giving the mma speculation on the table. right now it seems to be the greek deals coming together that

we have breaking news on cypress. >> right now across greece alexis tsipras is giving an interview ontelevision and telling them to vote no. the reason they should vote no in the big referendum sunday he is telling them it will give them a better hand in negotiations with the creditors. the bailout lenders to the country are in the middle of these tense kneenegotiations. the impasse led to the shutdown of greek banks and capital controls. he is saying if they vote no they'll be better off when it comes to negotiations. europeans all day have been saying no. that's not the case. consider this a vote to stay in or out of the euro. if you vote no it will weaken our position and tell the greek people do not want to be a member of the euro. we heard that from a number of european leaders today. once again, could be pushing the stocks lower this hour. greek prime minister alexis tsipras is speaking on national television and reiterating he wants the greek people to vote no. the referendum took the people by surprise and european leaders by surprise as well. back to you. >> thank you. if you

cypress plays on more than that.istianity and the rest of christianity catholics and protestants are corrupt. therefore, we are going to be that spiritual, soulful center of europe. if we unite, and they would like to bring in serbia with that pipeline, then we have this whole great orthodox christianity going. >> how much of a mistake would it be for the west to let this happen, let this play out and try to recapitalize greece? >> i think it's a mistake for the west to watch putin do what putin does. some money, first was in ukraine, now in greece. all these places when you can play putin down. it's a very good idea even if it's costly. >> thank you for joining us. time for a cnbc news update with sue herera. >>> the white house says president obama believes the confederate flag currently flown on south carolina's state capitol grounds belongs in a museum. earlier, the president of the naacp said the flag should be taken down. >> mourners are still grieving for the nine people gunned down in a charleston church wedn

>> well, all the chatter about cypress, for example, talking with angela merkel and negotiating a tradeafterit's the same story, kelly. it's kicking the can down the road. i see carol shaking her head because we both know this is something that doesn't end well for greece. but it's something they've been putting off for years. and if you can put it off long enough, maybe you can get by. >> then there's no it. >> well exactly. there hasn't been an it. and that's part of the problem. >> right. >> it is the quintessential dysfunctional family. this is the bad kid who keeps messing up and keeps asking for money. they're not going to kick him out of the family. they're just going to keep finding ways and, you know go round and round. so everybody gets worried about it. is something going to happen? but, unfortunately, the parents aren't able to lay down the law here. >> what's interesting today. reminds me of the show. evan, what's it going to take for you to get involved? he'll say i want a revolution on greece one way or the other. just tell us the plan. >> there'll never be a plan. there will

look at what happened when cypress had capital control, bitcoin up about 10% in the last couple of days you know i'm a big fan. >> next currency of greece right? >> well. >> where they think there's a proxy, if you will for underperforming currencies? >> u.s. dollar. >> or u.s. dollar. thanks, brian. brian kelly our currency expert. catch more bk coming up. "fast money" the oracle earnings. they'll have all the latest headlines for you. >>> we'll have to wait a little longer for a fed interest rate hike apparently. is janet yellen waiting too long to make a move? >>> he'll tell us when he thinks the fed should make its move. >>> plus, uber has faced a ton of regulatory hurdles, but a new ruling about the drivers could be the biggest rod blockad block yet. keep it right here you're watching cnbc, first in business worldwide. y of a breach can quickly become the only thing you think about. that's where at&t can help. we monitor network traffic worldwide, so we can see things others can't. mitigating risks across your business. leaving you free to focus on what matters most. >>> let's get

in the eleventh hour last night european leaders offered the prime minister of cypress one more possibleeal for debt restructuring. ashley: they did indeed. remains unclear today whether there will be accepted or not. we do not know the details. was it the same deal as before? what has changed? it kind of looks like business as usual on tuesday afternoon in athens but it is anything but usual for the future, we have seen lines at the atms which forms of people can get 60 euros, the maximum amount they are allowed to take out. we are told by greek media that is reporting that the greek prime minister alexis cyprus is now being put under tremendous pressure to accept some sort of new deal that will by greece more time, some of the points revolve around the amounts of sales levied on hotels, the original proposal was 23%. the new offer may be closer to 13% but that is the speculation at this point. will the greek prime minister succumb to that pressure and agreed to deal? another facet of this is the prime minister would be forced to send a letter to the e.u. creditors saying he would indee

this happened in cypress in 2013, they took the money and they're still in the euro. charles: you're saying they stay in the euro, but it's not-- then that means they eventually acquiesce that they eventually do the things asked right now by their creditors then not necessarily, i have the greek plan here and ecb plan here updated a little bit. they're not that far apart. it's a negotiation, you have to play hardball walk away from the table, kiss and make up. charles: what's the big bone of contention? they want to see budget pension reform labor reform tax reform anti-corruption, public administration. what's the biggest hurdle between these two? >> it's the pension. the greek government says if you're retiring 65 70 years old. that pension is a promise to you. the rest of europe says we're not retiring at 50 and these benefits. >> i think they have to find compromise because greece has taken many of the measures laid out for them shall the economy has shrunk drastically and the number of public employees is down considerably from five or six years ago. the problem