we need to move away from a self obsessed europe and move toward a global europe.has driven standards for workers across the eu, we must argue for solidarity. campaigns across europe, the eu has brought measures against part-time workers, we must work to provide pensions and leave. eu has rules on working time and a guaranteed rate for paid holiday. these are significant right instituted by the eu at a time when it was easier to demonstrate to people. we are living in a complex climate and the eu must in the straight -- demonstrate what it can to the economy. the initial polling suggests a yes result, but that is a way to go. we cannot be complacent. we need a clear result of support from across the u.k. the uk's continuing membership should move positively forward. i'm concerned that we will fall and a trap on focusing too much on talking. this runs the risk of failing the debate and let's not forget we should be tackling these the head on and building a consensus across the u.k.. those of us who support staying in the european union should make a case for it. i d

europe. did the prime minister during the sharon's is to be addressed to some of our member states? >> my honorable friend makes that point. that is the moment to put the maximum pressure to clean up the justice systems and policing systems and combat corruption. we should make sure the national crime agency established under the government is up and running and working well and focuses on organized crime from the countries. >> thank you, mr. speaker. can he therefore explain why his governments provide so much overseas to some of the most corrupt countries around the world, which is actually leading many of them to spend more than 2% of gdp on military when we are now at risk of falling below the threshold. >> by honorable friend and i agree about so many things. so many fruitful discussions and this is one area we are not going to agree and he passionately believes it's too far. i think it is important not only for britain's moral conscience but also security. whether it's the instability c

greece is at odds with europe. moscow is at odds also with europe, with brussels especially. some say vladimir putin is using this strategy to pursue a divide and conquer method. is there something to that? marcus: this is very much the impression we got here in st. petersburg. it seemed that putin and tsipras seem to feel they can help each other overcome the isolation they are in. mr. tsipras praised russia's idea of a multipolar world order and set a world older -- order dominated by brussels and washington is over a long time already and we have to go to new shores. that's what he said in the world economic forum. that must have gone down very well with mr. putin, who for a long time already tries to secure loyalty among individual european states and who has tried to present himself not that much as isolated as the world wants him to be. anchor: thank you. anchor: surely an interesting day also for the markets. greece, we hear, can look forward to some nice transit fees with the turkish stream pipeline. also, the ecb has decided to keep the money flowing through the gree

in europe, you have some very powerful companies in europe.are -- 80% of the businesses are occurring in europe, and greece is really small. vonnie: will we see an inflow of emerging markets back into the united states? >> there is still a surge of emerging markets. the u.s. can grow, but it is not like we will get fabulous growth either. by year end, we are looking at 2100. tom: we have so much going on. did you know there is a jobs report on friday? carl: thursday. tom: can you get us started on our four-day work week? what are we looking for? carl: watch for the unemployment rate to move slower. that is the september story for janet yellen and company. tom: justin, can you come back another time when we have more time? justin: yes, i work right here in the building. justin fox thank you so much. did we have a small response today echo? vonnie: we had one or two. tom: did verify this tweet in yet -- did varoufakis tweet in? vonnie: does so blown, juncker, 26, eurogroup ministers, on july 1 at all year's own heads of state. it has been amateu

in europe, stocks are seen significant losses. on the cac and rants, dax and germany down 1%. u.s. futures down 177-point. the federal reserve say and a september rate hike is very much in play. something to point out as the market continues to anticipate when the first rate hike will be in the united states by the federal reserve. those comments coming out early morning. investors, hedge funds with a lot riding on the financial futures and markets reopen the call has the latest. nicole: big names in the hedge fund industry put their name right in saying david einhorn, bring the capital, john paulson have poured in $11 billion into government arms of 14.5%. investment, construction ,-com,-com ma energy, including banks obviously. einhorn and paulson have invested and lost considerable sums. a large stake in euro banks, one of raises for many banks. panicking depositors pulling out 1 billion euros from the system over the weekend if they can get the cash. stashing cash in their home. some even exchange the money for bags of gold co

guy: europe is a little less than coming out of the periphery of europe.mi was nice and strong. richard jeffrey: looking at pmi's, though more north you go the more disappointing. surprises out of spain and italy. a disappointing read out of germany. what we are trying to do is analyze noise all of the time in too much into these. we take a step back from the eurozone and it will show stronger growth this year than most people anticipated after the start of the year. it is gaining momentum. it is still restrained by the euro itself. the outlook is improving and that is good news. to be honest, the german economy is -- has the most momentum, the most trustworthy momentum if you like. the stroke of growth will probably, out of southern europe. probably out of spain. francine: is a real momentum or better gdp figures or slightly better because of a weak euro and oil price and qe? richard jeffrey: it all depends on your expectations. if your expectations that the world economy should have exorbitant growth rates that we saw prior to the financial crisis, no, y

says it will store heavy arms in eastern europe.e european union demand the nation as hungry stops excepting asylum -- as hungary stops excepting asylum seekers. business news on "france 24" with our very own stephen carroll. lots of talks in the greek debt crisis. how close are we to a deal? stephen: much closer than yesterday. yesterday things were looking more optimistic, but the great run minister, alexis tsipras has lashed out at the monetary fund over the objections raised to the economic reform plan the one discussed in brussels. the plan relies too heavily on tax increases, not enough on spending cuts, and that hurt the greece economy even heard further. that is announced by a lot of banks conducting the analysis. tsipras tweeted that the stance was odd and of they did not want a deal, they were serving a particular interest in greece. genie: that is bound to come up with mr. tsipras meets up with them today. stephen: ahead of a meeting with the eurozone finance ministers scheduled later today, and wall-to-wall meetings will

there is going to be a breakup of europe.finition of what it means to be a member of the european union. you have seen this with the danish selection. david cameron is going to take a lot of attention to the day -- danish model as he thinks through how he renegotiations this. -- renegotiate swiss. francine: given all this and the classic economic models, it is difficult to price these things in. will you be short or long on europe five or 10 years down? can we get over these problems? do we have the right politicians in place to deal with this or are we going to have a surprise in the next five years? john: i think all the surprised that you are going to have is not going to be economic. they're going to be geopolitical. there's no question that i think you're going to have a lot or people leading government in europe, whether it is lepens. sitting here at years ago, no one would have anticipated this. to many people in and outside of france, the arguments that she makes are very sound given everything that has transpired. fr

there was a fear increasingly in the united states that if germany won in europe, it would make europe inimical hostile to the united states. it would become more vulnerable to threats from europe. on december 15 and december 1915, wilson and his state of the union speech talked. it was focused on military preparedness. he developed a new five-year plan for the navy, which was approved by the senate. in june 1916, after a great deal of debate in congress, a national defense act was approved, which increase the army to 223,000 people. this is a market increase. this was cast in terms of defense of the united states not of getting into war. you can see the similarities between the debate it took place in the united states before 1941 -- that took place in the united states before 1941. what you also got was an interesting debate in the united states about what the proper role for the united states should be in the world. it is a debate i think which has occurred throughout the history of united states. i think we see it again today, a debate about whether the united states should be inte

still, compared to europe, europe does not have a very proactive.rms of your geographical footprint, any way you want to expand and look at acquiring? jacques van den broek: yes, we are. we of acquired companies and the last five or six years. not surprisingly, we are not looking to go to new geographies. it is really all about being bigger where we are. we have a 5% marketshare the u.s. and definitely want to expand especially in professionals area, i.t. and financing. a market leader in europe. and professional area relatively small. and in japan. maybe surprisingly the second market by size world wise. definitely on the lookout. caroline: talking at the oecd about lack of investments and how that's needed to fuel growth. you some a you are company willing to invest. what is making you confident to invest? the outlook of your business or you can get hold of financing? jacques van den broek: financing is not the issue. in our visit it is all peoples business. it is having more people. -- in our business, it is all people's business. we discussed la

even for europe, 1.6% of the eu economy.oing to be essential for a long run situation, unless you thought it would be the inference of a general breakup for a major currency. i don't think it will happen. >> a gauge of stock volatility has surged throughout the world as investors are focusing on whether they take risk or whether they don't. up some 35%. that is the biggest move in two years. looking at oil speculators, they are the least bullish on crude in 10 weeks. we go back to these nuclear talks with iran. is reached itt could further increase the global supply with the run promising double exports if sanctions are lifted. u.s. production closes in on a record. itsosoft is shutting down web display advertiser business as they hand over ad operations to a a well and that this. nexus.aol and makers are not central to his strategy. coming up, let's head over to mom by and we will be talking about the biggest loser on the nifty index. ♪ rishaad: having a look at what is trending on social media with anna and david. what pla

europe has lagged behind the u.s.ng sector in cutting assets and cleaning up the mess after the financial crisis. just mentioned the ceo, stuart gulliver. under his plan, the risk -- the bank will cut some risk rated assets with a target of return on the wii of more than 10%. -- giventtainable even not only the backs -- the bank's size, but he announced the regulatory environment was making things difficult. brenda: i think it's a rather lofty achievement to get the return investment by 2017. bank brought its asia, iters toward would likely save $4 billion over the next decade. but keep in mind there is a levy and hsbc tends to pay the most off of that because the majority of its balance sheet is ace off the u.k.. would be good for the bank but not necessarily good for the u.k. economy and the financial sector makes up 8% of gdp. it looks like a likely scenario given the fact the government is playing hardball in relation to regulation and levees. mark: what does this mean for the future's of the biggest players in eu

our turnover in europe has decreased almost by 1/4.ith your country, with the added states, the turnover growth -- with the united states, the turnover growth is 5.6%. speaking about the flow of goods into the russian situation their volume has decreased a little. import has decreased by two times. now it is just $15 billion. the structure of the turnover when it demonstrates growth -- the russia-u.s. turnover, the import has increased by about 11%. it does not make up for losses european manufacturers are bearing, but speaking about the decrease in our country, in europe they are talking about stagnation and what we have to do in order to ensure unconditional growth of the global economy, and to assure growth in europe, in russia, and other countries of the world. we definitely have to stop imposing sanctions for i would like to emphasize that the sanctions imposed by the united nations are legitimate. if you are going to have economic freedoms to ensure economic trading. ♪ charlie: the relationship with germany, a strong economic pow

europe substantially.f you look to the figures for instance, within two years, 2014 and 2015 germany has lost 50% of their experts to russia. -- of their exports to russia. yes, i don't consider the local entities which operate in russia who are also heavily involved. i'm quite successful, by the way with your industry and -- in the transport area. and we have very good experience with our partner in russia. coming back to other european countries, look to italy for instance. italy is losing only 10% of the exports in comparison with last year. so, it looks quite good for them. the consequences in the different countries in europe are totally different. and also the interest is totally different. we have no common interests in that respect. we have, decisions on the political level but whatever the reasons are, this is totally wrong. we need to understand that russia turning to the east is doing something quite normal. the east has a lot of opportunities to offer to russia. don't forget, we europeans and s

europe.andfather was gassed and had been to war in europe. my great grandfather had been to war in europe. almost every generation has been to war in europe. we would never dream that we would be fighting germany or france ever again. i think it is largely because we are one common market in travel we can marry each other and live anywhere. that is something that should be emphasized as well. we want this wonderful community of people to stay together united and not get back into the horrors of past generations. manus: that is david and another businessman. richard reid joins us now great to have you with us this morning. sir richard is terrified. he is looking backwards in time and said you have got to be in the room. you signed the letter as well. is cameron making progress? what is your take so far? >> it is a tough situation. but i back the guy. we are in a strong position. we are members of the e.u. it has been brilliant for the u.k. economy and society. fundamentally, we should and we m

emily: google does own 90% of the search market in europe.reas do you think this could have a real impact on google's business, the bottom line or will they really be compelled to change some of their practices? andreas: that is the key question right? the fine itself google could live with. google is not worried about th e fines so much about their business practices. when you look at the revenues the vast majority comes from search and ads. the whole vertical search piece which is the piece of the old commission which had already have this going on for five years since november 2010. that is the piece they are focusing on. that is the meat and potatoes of google when it comes the revenues. google would be more worried about of changing its business practices than paying out a fine just like it did with the ftc a couple of years ago where it entered into a very lenient, voluntary agreement. sorry -- emily: i want to get to eileen because she is joining us from london. i'm curious. what do people in europe think of google? who would benefit f

we stay in europe. but when you put them above the picture of the gates you create all kinds of bad feeling so you tweeted a picture of the gates with those words. we stay in europe. why did you replace the words with that? that is the most controversial thing you could have done isn't it? >> maybe so. but first of all i would like to apologize to the jewish community and i issued a statement yesterday but this was not my paper. this was photo shopped and i posted saying that the measures are like the holocaust to the greek people. >> to the german people and 6 million views that passed away isn't that disrespectful, sir? >> this is why i apologize. a mistake. >> and as you said you have made some mistakes. >> everybody does mistakes but we need to be man enough and apologize for them. >> is it a symbol that the language has just gone way over top? in fact the negotiations have been conducted rather than trying to get some form of pragmatic solutions. it's gone too far, hasn't it? >> it's gone too far.

with the dax, one thing it says about europe, stay away from europe in the summertime because europelways underperforms. jonathan: the biggest question i get is you look what happens with the dax area did the story is the good news bad news story. the increased inflation expectations. the euro gets stronger. for me of the story going forward is at what point the correlation between bonds and stocks actually equals good news. edmund: let's just pull back. if you buy german bonds today you are getting less than 1% a year. it's still a terrible return. i think there's a ways to go before we need to worry about it. i think we can see good news for the rest of the year. we need to get through june. it's a terrible month. people need to think about the not-too-distant future. >> there could be another 10% downsize. >> lame not seeing where the bottom is. peggy the bottom is fraught with difficulty. there is interesting value reappearing in europe. it is maybe not just the dax. maybe look to italy. we are seeing a change in credit. credit availability in europe is getting better. jonathan:

closely in europe because it -- what happens in europe because it is a significant trading partner.e remains a leading trading partner. europe is number one out of all european countries -- germany is number one out of all european countries. i hope we will continue to develop relationships further. we are prepare. [applause] charlie: you have been generous with your time, mr. president, here in saint petersburg and this forum. one more question from me. the role that russia wants to play in the world in 2015. i listed a number of hot issues, whether it is your border, baltic states, or whether it is ukraine in the middle east, there is -- is ukraine. in the middle east, there is isis and there is syria. tyhe relationship with united states. some people have said you have had more unrestrained power than any russian leader for some time. my question is, how you play your role in these big problems and how we you take the initiative because of how you and your leadership has changed russia? clearly you are stronger militarily. clearly you seem to be more aggressive, even though you d

it wants europe united not divided under germany. we want to stay in europe as an equal member not a debt colony.

: -- in europe?nto this has played right the call and everyone loves ellen vander. she doesn't love me because we that ish other, but another story. i think her call has been corrected. the market was split 50-50 between december and september. do get probably goes to the margins in december based on his news. it of the day, the economy is a little bit better in the second half than the first half. our view as they get it done this year. we talk about how so often bad news is construed as good news in the equity market. good news is also seen as good news. is the fed exquisitely looking to raise interest rate based on data that good news is good news and bad news is that -- is also good news? adam: and no news is no news. you are stuck waiting for the earnings to come up. i see this set up exactly like you one where the bottom numbers are too low. where the bottom numbers are too low. i think as earnings, you will see the price-to-earnings ratio set up. we see about 4% of earnings growth and about 2.

global strategy rather than europe. >> thank you paul. pretty similar to tristan, we like westbrook because we think it is an excellent opportunity to partner with a firm that is focused investing in primarily middle-market real estate transactions. with a focused primarily in gateway cities mike gailey said is again might san francisco, new york, london and tokyo, paris. the firm's founder, paul -- has built a global platform that successfully sponsored 10 prior funds. nine of westbrook and one predecessor investment vehicle that he set up as a morgan stanley. westpac targeted primarily 12 global gateway cities and that is in the staff symbol. we like their approach in building a portfolio that is focused primarily in -- acquire 25,000,000-75,000,000 in equity. that is pretty much the middle-market range were talking about. the file font size is estimated to be around 2.5 billion and that translates roughly 50-70 investments. so, we like this level of face the first occasion that they are targeting. for front-end, westbrook is tactical t

here in europe and especially in france. i had my pride, but i've lost that now. they treat us like animals here. >> there's a sudden flurry of activity in the camp. traffic on the motorway heading to britain has come to a standstill. that means a chance of stowing away on trucks. but not every truck it's the bill. this one is too full. and then there are the police to contend with. >> you know what, i'm just going to keep on trying. i will give it a second and third go today. everyone here is going to keep on trying. >> he has back to the camp for now. they call it the jungle of calais. about 4000 men women, and children already live in the makeshift camp, and more are arriving all the time. once a day a charity hands out food. but it's never enough. >> last year there were 2500 people in calais. there is a little bit more than three times more people. [indiscernible] >> migrants are an everyday site on the streets of calais. city is the main staging post for those trying to reach britain. down by the port, barbed wire fences deep them way from trucks and fairies

stories behind the european headlines this is focus on europe. up here is what is coming up over the next half-hour. why the fins are looking anxiously across their border. why the greeks are appealing for outside help with migrants. and the battle of waterloo be enacted 200 years later. russia annexation of crimea left many in the soviet nations of eastern europe asking will we be next? similar questions are being asked in northern europe. russian spy planes have rattled finland. after all, the two countries share a long border and long history of conflict. older films remember the territory they lost in two wars with russia. things are taking precautionary measures. >> he is in the finnish army posted by the russian border. family we are on the border -- >> we are on the border. reporter: finland seated russian territory in the aftermath of world war i. the soldiers are aware of the tensions. unsure about future developments, the military recently put its reef -- its reservists on alert. >> in this letter i'm informed my position and some sort

the stoxx europe down .38%. the u.s.losed down considerably despite the fact we have q1 gdp being revised up. things were not as bad in the first quarter as people have previously thought. admits the u.s. markets closed better than previously. greece moves nearer to the june 30 expiry of its euro area bailout. joining us now, hans nichols and guy johnson. hence, where -- hans, where do we stand? hans: they just tweeted where it there is a will, there is a way. the greeks rejected several proposals yesterday, they seem to be holding firm, they are not giving in. we had seven hours of talk yesterday, they broke up and then euro finance ministers were supposed to meet. just as they were supposed to meet, they call that meeting off. there was a separate meeting starting at 11:00 and ended around 1:00. that ended without any agreement. this morning we have technical talks that started at 7:00 a.m. -- 6:00 a.m. local, excuse me. they will be meeting again, that is the second round third round and talks in less than 24 hours. w

>> yes. >> what did you think europe would be like?he told me she thought europe would be the solution. in older neighborhoods, and they are welcoming migrants. food clothing, and advice are dispensed by local volunteers. this 15-year-old is given a meal. the family from the park have come here. the child has a chest infection. >> they need help, and they need medicine for the baby. it is very fulfilling. i can help. >> the numbers in paris are still small compared to sicily am a government fears and influx . that is why you're not seeing a welcome for the arriving migrants. every day european navies are rescuing more people from the mediterranean. the governments have no policies to deal with them. this announcement is double-edged. shelter for those seeking asylum in france, but little for those trying to reach other places, like britain, or for economic hydrants -- economic migrants. >> the french government has enough measures for asylum seekers. >> it is hard to see the measures working. many see no future in france and want to re

it is a nexus of economics and politics in europe.is the president of the -- institute. this morning it is decidedly germany and europe in flux. good morning. how far apart is the germany of merkel from the germany of short chauble? dr. sinn: schauble is more skeptical. he things pouring money is not a solution, it is just fighting against the symptoms. brendan: you said this morning that he is willing to accept a euro exit of greece and to write down what has to be written down. how do you know that to be true? dr. sinn: this is my suspicion. i do not have any particular knowledge, but it is time to face the truth for the creditors to accept that the debtors are bankrupt. why is it bankrupt? it is bankrupt because it lacks competitiveness because it has become too expensive in the inflationary credit bubble which the euro brought. that is the fundamental problem. they have to come down with their wages and prices are exit and the value. brendan: you said that the drop in the drop, would increase -- in the drop would increase europe's

you talking about europe, look at what is happening. germany is sheeg very moderate growth, 1% last year. look at france, 0.7%. italy things are all right. for a number of years they have had zero growth. in japan it's minus by the way. that said, it is obvious we all need additional points of growth, incentive for development. the problem of greece is not just a problem for greece but for all of europe. i even took note of that. but when you owe somebody-- you know, it's not just your problem. but look at what happened. integration processes offer a lot of benefits, open markets but there are also downfalls. you cannot regulate national currency baz there is no longera i national currency. you cannot manage your agriculture, tourism-- there are restrictions. there are limitations. so it has to be very balanced. but we are curious-- we are following very closely what is happening in europe because they are a major trading partner. the volume of trade behind down, significantly so but europe still remains a leading trading partner. and g

in the middle east, asia, europe, africa. any operation where we are in we see very strong growth. >> who buys an hour on board? >> corporations do not want to put those airplanes on their balance sheet anymore. they are treated as an operating expense. we have local corporations. they might even have their own airplane. usually they are only used approximately two or 300 hours in the air. this is where a solution such as ours, a very apparent solution because you have the hourly rate without at risk or capital cost to put it on your balance sheet. >> how much does the our cost? >> depending on what we operate. what is important is we only pay for the actual hour of the airplane. only for the minute you take off. you don't pay for the petitioning costs. >> some not arriving on business jet, they were delayed. the event had to be pushed back because of a taxi strike. more than 100 were able to block traffic. they are still protesting in the growing prevalence of the ridesharing app, uber. the taxi unions will be meeting on wed

it is very significant in the context of europe because isn't europe an important manufacturer globally? we have potential problems with domestic demand in europe which means the chinese equity market is already taking notice. they are saying that there is a global message here. jon: when you look at the weekend move, do you think in some ways it wasn't just about a friday equity market lunch? -- plunge? guest: i think what is happening in china -- if the put that on an agenda. it is an economy with a lot of problems. that needs to be set, but what i wanted to tell you here is that when europe is getting problematic european policy is at risk. jon: equity is at risk jacob >> the economists have increased the probability of a greek exit. that is important. an earlier sessions of this program i talked about sleepwalking into a greek exit. what i meant is that the positions do not understand each other. when you look at the suggestions made by europe on friday evening, there were very generous proposals. it became possible nonetheless greece walked away. does that tell you that greece has

issues within europe?we look at china, global liquidity issues. julian: it has been holding the u.s. market back. the fed concentrates on it as well. we need to see some sort of positive revolution. tom: we do not have libor. we used to live on libor. how does julian emanuel measure the oil in the engine called liquidity? julian: it is much more complicated. given the fact that essentially central bankers have distorted the meaning of interest rates to the extent that they have over the last six or seven years. brendan: when we talk about liquidity, it varies from country to country. which sovereign debt most concerned you about liquidity? julian: besides greece, the issue is -- and i think this is part of the idea that we are as far along as we are -- none of the other peripheral countries have really had interest rates rise to the point where it alarm dels are going off. we have to monitor that. vonnie: you say is meek the new bullish or is neutral the new bullish? julian: meek is definitely the case. wh

a global market strategist for jpmorgan in europe. you talk about imf and the consequences of missing the payment. join a club that involves sedan somalia and zimbabwe. not great for europe occasion to talk about the immediate financial consequences. guest: the question is whether or not ecb will perceive this as default to the imf. but i believe they will wait for the democratic process to take place and the decision is taken at the political level. in the end the only institution that can affect the solvency of greece is the ecb because it keeps the financial institution float at the moment. as long as it will be an active the financial situation will remain solvent. a big question will be what happens next week in the case of a no vote. jon: a lot of focus on the greek government making its payment and how they should make sure that they meet their commitment. there is a bigger point, a imf -- did a have to take a long hard look at themselves? do they have to admit they made significant mistakes at transferring debt? things have go

♪ damien: hello and welcome to "focus on europe," bringing you personal stories behind the headlinesrom all over the continent. i'm damien mcinnes. thanks for joining us. we have some really interesting stories lined up or you today. in switzerland, european union for workers and sex workers. iceland, where strikes are such a meaty issue. and in italy, new families for child refugees. one of europe's biggest achievements is called the schengen zone, set up exactly 30 years ago. this is the area across most of the continent, which allows europeans to move freely between countries without all the checks, but it also leads to some and all of -- anomalies when it comes to the world's oldest profession, prostitution, which is banned in some countries but legal in others, such as here in germany or switzerland. but sweat -- sex workers pay their taxes and have access to health care and benefits just like any other job. they say the job should not be forced underground or stigmatized, but because the laws are so different across europe, some order regions become centers of prostitution, whi

london, paris, berlin the nordic region southern europe eastern europe we have tech hubs all over theng up so i don't like the comparison but i think that each location has something specific to offer and tech city has definitely shown a lot of potential. >> let's break down where you see opportunity in technology. london many times seen as the hub for fintech and by 2018 nearly 30% of smartphone users in the u.s. will make a mobile payment at least once every six months. talk to us about where you see opportunity in the mobile payment space. >> in the payment space we have seen a lot of interesting innovations. in paris in specific we've had companies come out of the microsoft ventures accelerators. instead of paying for drinks and your coat check and what have you, being able to pay for that with your smartphone. we've seen other companies that microsoft worked with mango pay, they're actually facilitating payments for a lot of the big marketplaces. we have a lot of very interesting payment solutions that i think is across the board. so we're actually going to see a lot more moving

major selloff in europe with markets in europe down more than 3%.and germany and here at home we been down to 60 in the dow overnight not down less than 200 points. based in stabilization and wide anticipation a deal will get done. >> totally agree with you. the columnist global selloff. greece is a country on the brink that the banks will remain closed for 60 days. cash withdraws to senior government official and global markets markets and selloff mode. ashley webster on the ground right now with the latest. good morning. reporter: good morning to you, maria. here it is. 60 euros is all you can take out. also, you can transfer money to an account overseas. they just want to basically keep the money within greece. money is running out of the atms. we've been hearing reports of that. banks will be closed through july 6, the day after the referendum is scheduled for next sunday, july 5th in which voters will be yes yes or no to accept conditions be asked for by european creditors in order for reese to get the next round of bailout money. essentially a

how will a greek exit impact europe? a hedge fund that's going all in on europe and it's one of the best-performing funds in its category. peter tusler joins us now. he's the co-founder of the lucerne capital fund. peter, welcome to the program. i mean, so far it's been a great year for europe, but presumably that could change, as we saw today. >> well, the way we are looking at it is that actually the prime minister of greece has just given us a timeline. by calling a referendum basically we will find out between now and sunday whether greece will be in or out of the euro area. and we believe that either way it will be positive for the rest of europe. we think uncertainty is bad for the market. the uncertainty will be removed. probably sooner rather than later. and we've been dealing with this greek problem now for the last three years. and we think we'll get a decision one way or another. >> peter, just to get -- there are others obviously that would dpis agree with that. some saying that would be the beginning of the

if he could see europe today, he would not be impressed. he would prefer it to be a great empire, but under-french control. >> this lady is playing a polish countess, one of napoleon's lovers, she pace her respects to the dead. >> remember the people that died here, it's not important which side it was - french, english, russians, just remembering people that died here. >> waterloo was the battle that ended french domination of europe, and brought peace for decades. for the people that came here, people that have come from across the world, waterloo is an opportunity to live in the past for a few days, and wear fabulous uniforms. >>> a quick reminder you can keep up to date with all the news on the website. there it is on the screen. all the latest from the church shooting in charles tonne, where a 21-year-old white man accused of the shooting has been flown to south carolina for question. aljazeera.com. all the latest on that story and more. a sanctuary attacked, but a congregation with a long history of standing up against evil. >> many o

these numbers pale in comparison to the 153,000 migrants that have already land ed in europe other "theeam" year, an increase of 149% when compared to the same period last year when just 61 1/2 thousand migrants entered europe. the president of the european commission jean-claude spoke just after an agreement had been reached. >> the fact that we took howard to agree about the system. shows that europe not living to the value it promotes in each and every occasion when it speaks a broad. >> italy's prime minister was scathing about the proposal he was quoted by sources inside the meeting as saying if that's your idea of europe, you can keep it. either give us solidarity or don't waste our time. after the meeting he was a bit more diplomatic. >> translator: we reach an agreement based on the initial propose. it could be much more ambitious it mentioned 40,000 persons but it's the first at the point to say that finally there is a european policy rather than the policy of one single state. >> laurence lee is live in brussels. tell us why are so many e.u. countries flatly refuse to go have

that's about as far from the ideal of free movements europe believes for itself.>> i.s.i.l.al jazeeraamerica. >> i.s.i.l. group five months after it was forced out. zeina khodr reports from the turkish border. >> reporter: a desperate father, he managed to reach the southern syrian city of syruch. his daughter was injured in the syrian town of kobani. i.s.i.l. fighters attacked the mainly kurdish town early thursday. the survivors still in shock. he saw i.s.i.l. fighters randomly killing people in the street. >> we ran out seeing people on the ground shot and killed, bodies and blood everywhere, my father was shot. we kept moving from street to street to escape. >> reporter: others remain trapped. kobani's residents such as ahmed, don't know whether their loved ones are alive or dead. snipers have taken position in high rise buildings and taken civilians as hostage and using them as human shields. from >> translator: my brother's family has to escape. >> border crossing has been officially closed for months and raimentsremains shut. turkish border guards say they

europe at the start of the year.ming, people frontloading. the euphoria of q1 seems to have died just like that. equities brought down a little bit. what is your outlook for the next 12 months? >> we still like them. they have gone a lot. i think the next leg in europe has to be driven by an upturn in earnings. i actually think there is still a chance for a surprise to the upside. i actually just have a gut feeling they could be surprised on the upside. jonathan: what is stephen isaacs' gut feeling? >> we are pretty cautious on all these economies. greece going out will represent a significant tightening of potential future monetary conditions. if greece stays in, it will be the cost of another notch down in the euro as a sound currency. it will be an effective debasement. the euro will be more and more a southern european currency. if greece goes out, the germans will be able to say look, sorry. we have to have some sort of sense in how we run this currency. i think that is a tightening of conditions. we see in a ra

if you look at europe today and where europe was four years ago it is totally different.wing. and in the u.s.. china is slowing down but the central bank is doing a lot to monitor that and the ecb has a lot of tools to monitor the situation. there are a lot of tools to make sure there is no contagion to the peripherals. it is very unlikely at this stage that we will have a lehman moment. anna: a lot of work, the outright monetary transactions. the ability for the ecb to directly purchase government bonds. talk us through how that would make a difference? they could use that on peripheral bonds. guest: usually the way that the market put pressure on government is by refusing to lend money and then the spreads widen. then the country finds it difficult to refinance themselves. if the ecb can buy government bonds for this country, it would put a cap on borrowing costs and that is the longer an issue. anna: how does this factor in right now? you must be very mindful. the imf recently called on the fed not to raise rates. slowing china and greek talks progressing and now they

significant declines as you can see on continental europe. down 1.7% falling well below the 11,000 mark. france down 1.4%. this follows declines yesterday as well and the sell off really has continued since the ecb meeting in the middle of last week for european equities. >> let's get a run down on what to watch in today's trade. job openings and labor turnover survey could provide clues on when the fed will raise rates at 10:00 a.m. eastern along side april wholesale trade figures lululemon reported it's q-1 earnings beating the street. u.s. futures well take a look at your screen after hitting new highs in the month of may stocks have been losing team in the month of june. the stock market sell off on monday was not steep but there was enough nervousness to result in the dow now trading in negative territory year to date. technicals also part of the conversation. the s&p 500 falling below it's 1 hyundai moving average for the first time since april. so we're looking at fundamentals but got to keep an eye on the technical story as well. >> a

the equity markets in mainland europe.nd you go toward greece and that is where the tension, the nervousness is. we were heading for the biggest two-day loss since 2015 in january. the ase digs in. the greek national bank is down by 9.7%. this index was down as much a 16% at one point this morning. greek equities are taking some pain. if you look into the bond markets, yields in germany go lower. spreads are starting to blowout again. that spread right there in march -- we move below that and then we balloon back out to 150 basis points. that is the situation in italy reflected in spain, as well. some tension in the bond market. that classic risk aversion. the fx market, i'm looking at euro-dollar, a session high. we come a little bit lower. we are down by 0.3%. what a week coming up. eurogroup meeting on thursday. the small matter of a fed meeting on wednesday evening. francine: thank you so much, john. the latest on the markets and what to watch out for for the rest of the week. today is the start of london's technology

thomas: a punch in the face for europe. that is how italy in's interior ministry has described these african migrants, stranded on the ukrainian coast, caught in a to the medic -- on the mediterranean coast. french border police blocked the passage into france. >> i do not know what life i am going to have. i want to settle in france. i am asking that france open its border. >> on monday, france's interior minister said border officials turn the migrants away because european law dictates new arrivals should be processed by the country in which they first land. but italy's prime minister says that regulation is no longer appropriate, given the right -- given the number of hybrids arriving on his shores since the start of the year. he is threatening a plan b to deal with the crisis, a plan he says will have consequences for the rest of europe. italian media are reporting that could involve issuing migrants temporary visas, giving them the right to travel through the schengen zone. >> what is the meaning of a europe that tell

that we had in europe.lex: and tony is being very, very modest. this is a symbol shown throughout europe. we're running out of time, tony. i know some people have questions. before we going to questions, i just have to say on behalf of the museum here, and certainly on behalf of europe, i'm grateful to you. we owe you an anonymous debt. thank you so much for your service, sir. tony: thank you. inc. you. [applause] alex: does anybody have any questions? i'm going to scroll through the photographs -- >> when he landed at normandy and omaha beach, how to jerk camera not get destroyed by the water? -- how did your camera not get destroyed by the water? tony: in those days -- had not been discovered yet. however, there was cellophane. however, cellophane is very brittle. what i did was, i took -- i would say 40 layers of cellophane. the camera there. and i tied it with a string and that is how i landed in the water. so, as soon as 6:00 in the morning came up and we were to go elsewhere, i removed the cellophane

if you live in europe, maybe you are buying euro denominated gold , but even in europe terms, it is lowery -- pimm: basically unchanged for the year. alix: but if you look deeper, physical buying right now is picking up in europe. the u.k. royal mid said that there was a: of demand from greek customers. that is double the five-month average. they might not be buying the futures market, but definitely seeing buying in the market. pimm: golden coins. alix: put it under your mattress. much, alixs very steel. top stories. spacex engineers are trying to figure out why one of its rockets exploded. the unmanned falcon 9 blew up just after lunch yesterday. lost, but the international space station crew will not face shortages. ge is selling the bulk of its of is newsfleet management to canada's element financial. the price -- 6.9 billion dollars. ge plans to sell about $200 billion in lending assets. and the solar impulse ii is headed to hawaii this very hour. it left japan this morning and is scheduled to land in hawaii later this week. this is the longest leg of its around the world trip and th