the bad europe eaches they want to take credit themselves for doing that.y don't tell them the truth that there's a lot of money that flows. it's a human. people have to understand why banks closed. the banks closed because the government negotiated in bad fafth for five months. when the programme ended. the banks closed because people were taking their own money out because they were afraid in what happened right now. it's not baffed europeans, but the greek government and the depositors that took their money out, and there was no money left. >> niklas from the stern school of business thank you for joining us. i'll be back in a moment with the final thoughts on when good politics do not necessarily make good economics. stay with us, it's "inside story". >>> greece has an economy that represents about 2% of the g.d.p. of the european union, by geography, history, political inclipation, it's been a bit of an outlier, a little balkan a little eastern european and a little eastern. it hasn't been a democracy for long when welcomed into the european union, and

the bad europe eaches, they want to take credit themselves for doing that.y don't tell them the truth that there's a lot of money that flows. it's a human. people have to understand why banks closed. the banks closed because the government negotiated in bad fafth for five months. when the programme ended. the banks closed because people were taking their own money out because they were afraid in what happened right now. it's not baffed europeans, but the greek government and the depositors that took their money out, and there was no money left. >> niklas from the stern school of business, thank you for joining us. i'll be back in a moment with the final thoughts on when good politics do not necessarily make good economics. stay with us, it's "inside >> it's crazy money that you can make here. >> behind america's oil boom. >> it's a ticking time bomb. >> uncovering shocking working conditions. >> do you know what chemicals have been in that tank? >> and the deadly human cost. >> my big brother didn't wake up the next day. >> "faultlines". al jazeera america's

becoming the mirror of the future of europe exactly because of these two different visions of europe oppose eacher. we have a battle here but it's not just a battle for greece. it's a battle for europe. >> john i'm curious to take you -- well to get your take on the interior minister's accusation that the sir resa party is being pushed out by the troika. >> well, as you heard him say in that long sound bite there syriza is very much isolated. not only has it bungled its strategy to force creditors back it has failed to make any demands. the austerity package is one that is largely of its own making. so it's demonstrated how far back it has been pushed itself. but the push -- the -- the isolation of syriza comes from abroad and domestically. of course we have heard the leader of the euro group today tell the dutch parliament that if the greeks vote no they have no place in the euro zone tomorrow. french fundamental made a similar statement saying if you vote yes, we'll come back to the table, if it's no you are on your way out of the euro zone. this amounts to an enormous amount of pressure on gr

greece we are becoming the mirror of the future of europe, because two different visions of europe oppose eacher. we have a battle here, it's not just a battle for greece, but a battle for europe. . >> at least 34 people died after a ferry capsized in the feel beans, happening off the -- philippines, happening off a port. we are following developments from manila. >> ferry boats travel between the islands in of the philippines >> reporter: ferry boats travel between the islands in of the philippines carrying hundreds of passengers. this stretch of water is known to have been rough. there has been similar accidents in the same area in the past. a survivor said the water were calm when they left port. when they were further out at sea, and away from the coastline, the boat suddenly tilted, losing its balance and capsizing. local authorities are doing all they can to help the survivors. the captain of the boat is in custody. and the coast guard will launch an investigation. >>> an afghan court overturned sentences to four men for their part in a mob killing of a woman. they'll serve 20 years. she

becoming the mirror of the future of europe exactly because there are two different visions of europe opposing each other. it is not just bad for greece. it is bad for europe. >> we have the latest from athens. all eyes definitely on sunday's referendum. which way is the nation leaning towards? >> very difficult to call this one, because even though the yes vote seems to have been advancing in the last few days, the no vote had a very solid lead, even up until yesterday when we were about 10 points apart, with the nos at about 47%. it's very hard to call. it's difficult to predict whether all of the pressure, the media pressure here in greece and all of the statements that we're hearing being made across europe today from the from this foreign minister telling the greeks that if they vote no, that's it for the euro zone, they have no chance of coming back to the negotiating table where as if they vote yes, they will be welcomed in brussels again on monday. with all of that pressure for a yes vote, it's very difficult to tell how much of an in-road they are going to make on this very solid no lead,

greece we are becoming the mirror of the future of europe because two different visions of europe oppose each other. we have a battle here it's not just a battle for greece but a battle for europe. >> why did the greek government capitulate at the last minute and agree to so many demands which you had long resisted in the weeks and months of negotiations? >> no, no that is not true. we have accepted exactly the same proposals. we have proposed on monday and we had exactly as we added on monday, an additional position na in order to strike a deal we need some sort of debt relief. now the debt is unsustainable, even... >> sorry for jumping in you crossed some of your red lines. when you were elected to power, there was red lines when it came to things like raising the value-added tax, and playing with pensions. >> yes yes, yes. >> that has been crossed in your latest offer. >> you are right. we have reported all our engagement related to pensions and salaries. we protected the income. but we made very important consensus in other issues. we wanted to strike a deal because we wanted to keep gree

europe. and people are turning against each other now throughout europe. and this is -- >> is this the real crisis? >> to me, yes, because combined with a lack of leadership, this can end to where? to what allen calls it. is it the end of the eurozone at least? >> true. but as you are a greek, i don't need to tell you that the word crisis comes from a greek word and it is the word basically that means to judge, to make a judgment doesn't it? so that a crisis is an opportunity, not only for something to fail but also to make a choice in the right direction. so this is the question we've also been looking at in this show. the question of, is this ra -- is this a new start for europe? let me make a quick round of asking you that question again starting with you, ursula. is this a chance for europe for a new start? >> that is what he always says, he always says that europe only shaped itself in crisis. and that europe always is ready to just find the point, to turn around, and to find a turnaround for the better way. i think in some perspective -- i hope he is

the first person to hit ten referrals in each north america europe and asia market gets a free model x suv. referal program will end on october 21. interesting approach. >>> an oven known to burn some users is being recalled by whirlpool. >> michael finney is here with important information on this. >> this is a very popular oven here. whirlpool is recalling more than 40,000 ovens because of a fulty oven rack. one reported second degree burns to the back and arm. the oven racks can call out. it sells for about $5,000 at sears and other stores. thinking of changing your smart phone soon? experts say now is the time to trade in your iphone if you want to get the most money. the value of iphones could drop in just a few weeks when apple is expected to release a new model. the website anticipates values of current models and says it will drop 10% in september and 30% in november and december. >>> southwest won't have to change its bags fly free slogan. the airline has confirmed it would stick to the policy of allowing two free checked bags. jet blue eliminated a similar policy. the south

europe. look at the positive outflows between spain and greece. track each for years and then greece beverages now. joe: that's basically the whole story of what's going on in europe. alix: you are headed to athens tomorrow. what are you most excited about? a live will be doing special on sunday evening live from athens. everyone's got to watch the -- everyone's got to watch it. thanks for watching. alix: cory: tesla reports record sales in the second quarter, why is it still falling short? i'm cory johnson in for emily chang and this is "bloomberg cancels its sales plan and the stock cries for help. abandoning intel after not being named ceo, and the rise of the machine in hip-hop. we will show you a wrap battle between

that has no europe -- >> day by day. each day this week, the virtual country cansy is being seen by some as a safe haren for their money, out of the banks and beyond the reap of the creditors. it is something very new but i believe because it exists it is something stable, and i believe it may catch on here. yes to a future free of bank cues inside the european union. the choice seems clear but the politics are not. there are angry words the politician are all corrupter says this man fascist shouts another. i am desperate, i have had enough. they are all dirty all of them. >> the architects of austerity, he has drunk your blood for five years the message on sunday for germanys finance minister could well be no more. >> and we can cross live now and speak to john, john, good to see you so the attention now obviously turns to the referendum on sunday, just remind us what exactly is at stake for prime minister? what he doesn't want and a yes vote particularly a strong yes vote, because that would be a public sen sure to his gove

those 30 referrals have to be evenly split between the company's three sales regions, 10 each in north america, europe area pacific. so you have to have friends all over. tesla plans to unveil its model x to the public early next year. >>> time now 4:51. if you get your prescriptions from cvs you may have been overcharged. the ne >>> the last day of july in san francisco the average is 64. concord 86. 85 san jose. 75 oakland. down in the south bay plenty of sunshine with a few high clouds from time to time. 84 at redwood city. 84 los altos and 90 degrees at morgan hill. 88 for fairfield. 78 for pittsburg today. plenty of sun and 90 in brentwood. then we're going to be looking for the north bay to have plenty of sun later in the day as well with a temperature of 67. if you are headed to the beach doesn't sound bad 75 for oakland, 70 richmond. and up by ukiah today still smoke 96 degrees and 98 for clearlake. >>> all right. heading to the roadways right now, let's talk roadwork. we have some eastbound 580 near tassajara, hacienda area. looks like it's causing a backup there. hopefully things should be c

europe. look at the positive outflows between spain and greece. track each for years and then greased the verges -- greece diverges now. joe: that's basically the whole story of what's going on in europe. alix: you are headed to athens tomorrow. what are you most excited about? joe: we will be doing a live special on sunday evening live from athens. everyone's got to watch it. thanks for watching. alix: we will be back here on monday. happy fourth. ♪ >> from our studios in new york city, this is "charlie rose." we begin with our continuing coverage of the greek debt crisis. prime minister alexis tsipras gave a speech today, after he offered a new w proposal to the eurozone. he accepted most of the terms from previous negotiations with him conditions attached. joining me now is erik schatzker . here in new york, peter coy,

across the continent because it shouldn't be hard for african countries to trade with each other as it is with europemerica. [applause] now most u.s. trade with the region is with just three countries, south africa nigeria and angola and much of that is in the form of energy. i want africans and americans doing more business together in more sectors, in more countries so we are increasing trade missions to places like tanzania ethiopia and mozambeke and getting the goods to market. next year we will host another business form to mobilize billions of dollars in trade and investment so we are buying more of each other's products and all growing together. now, the united states isn't the only country that sees your growth as an opportunity. and that is a good thing. when more countries invest responsibly in africa it creates more jobs and prosperity for us all so i want to encourage everybody to do business with africa and african countries should want to do business with every country. but economic relationships can't simply be about building countries infrastructure with foreign labor or extracting af

each citizen. it's unacceptable really. in the europe of consolidarity and respect to have these images of shame. to close the banks because the government decided to give way to the people, and to lead to trouble so many people which the government is part of this strangulation ensured through the payment of the pensions straight away to their accounts. we owe an explanation to these people to protect your own intentions would give this fight for so many months to protect your right to have a dig -- dignified pension and not just an allowance. they want us to sign this proposal. >>> you have been watching live coverage of greek prime minister alexis tsipras speaking in athens. >>> a major step in restoring relations between the u.s. and cuba today. the president is set to announce embassies will reopen in both countries. >>> and is greece getting closer to a deal with its creditors? the prime minister's new offer one day after the nation defaulted on a loan payment. ♪ >>> this is al jazeera america live from new york city i'm stephanie sy. it's a moment more than 50 years in the making the presi

each citizen. it's unacceptable really. in the europe of consolidarity and respect to have these images of shame.e the banks because the government decided to give way to the people, and to lead to trouble so many people which the government is part of this strangulation ensured through the payment of the pensions straight away to their accounts. we owe an explanation to these people to protect your own intentions would give this fight for so many months to protect your right to have a dig -- dignified pension and not just an allowance. they want us to sign this proposal. >>> you h

the 30 referrals have to be split between three sales regions, 10 each in north america, europe and asia plans to unveil the model x to the public next year. >> they are basically not going to be giving any cars away. [ laughter ] >> if you can talk two people into buying a tesla you should get a new car. they start at $80,000? >> actually have 30 people who end up buying the car in three different parts of the world?! >> somebody will be able to do it. >> but they are getting a little pub so good for them. >> what happened to a good old- fashioned raffle? get a paper put your name in the box. >>> we are doing okay in some spots busy at the bay bridge. you can see traffic starting to stack up as you work your way off the eastshore freeway coming out of the maze. it's backed up just beyond the overpass there. looks like it is building. so no "friday light" conditions here at the bay bridge. give yourself some extra time out the door near oakland to san francisco. keep in mind right now bart is on time but throughout the weekend the transbay train service closure will be in effect. that's

each man for himself. that cannot be the language of europe. >> and france is also hoping to recover the billions of euros it has already lent greece. here is our coverage of that debate. he was speaking earlier. >> french members of parliament voted overwhelmingly in favor of deal agreed between greece and the european union. the french prime minister defended the agreement saying that europe took the path of responsibility and truth that france could not abandon greece and played a key reali in preventing an exit. in the debate that followed, parliamentary groups got to speak their minds on this deep. the left wing, the communists and the green party said this deal was too liberal and imposed too much austerity on greece. despite voting in favor of the agreement, the senior right party, the republicans criticized francois hollande for giving in and not showing decisive leadership. france has now voted in favor of the deal clinched with greece. other european countries will be expressing their points of view on this deal in the coming hours and days. on friday, germany will vote on the deal between the e

i can tell you i've gone to europe numerous times the last three years. each time i go they laugh at me. oh yeah, wasn't it you who imported your mortgage crisis into europe? we have to think about these things before we make policy like that. that interferes with international relations. a couple more things i know to talk about. there's been basis risks that's been created. basis risks is when you have a risk, you want to hedge the total risk. in order to do that you need a swap product. or use a futures product. but the future could leave you with almost 85% of your risk hedge and 15% just sits there and you absorb the risk. you pass it on to consumers. you pass it on in your prices. also, it sits there on your balance sheet. so we don't know how much of that is out there, but that is starting to happen. the other thing the derivative rules did is really put the hurt on futures commission margins. they caused prices to go up so much it wasn't profitable. another thing we have to question that we can look at later. one good thing that these rules did is they

continent because it should not be harder for african countries to trade with each other than it is for you to trade with europe and america. [applause] president obama: most u.s. trade is within three countries in africa -- south africa, and injuria, and angola. much of that is in the form of energy. we are increasing trade with tanzania ethiopia, mozambique. we are helping more africans get the goods to market. next year we will host another u.s.-africa business forum, to mobilize billions of dollars in new trade and investment. so that we are buying more of each other's products. now, the united states is not the only country that sees your growth as an opportunity, and that is a good thing. when more countries invest responsibly in africa, it creates more jobs and prosperity for us all. i want to encourage everybody to do business with africa. african countries should want to do business with every country. but economic relationships cannot simply be about building countries' infrastructure with foreign labor for extracting africa's natural resources. real economic partnership has to be a good deal for afri

each other. >> greek monitors in europe had positive months last year despite -- last month, rather, despite beingown 4% to 5%. they're so much differently constructed. why talk, why not grow that? >> you're making a really good point. i do tend to focus on the indexes. and that tends to be too much of a broad brush view. you want to go to the stock level. europe has a lot of excellent companies that are not just within europe but sell overseas. the eurozone indicators improve. retail seals aales are at a cyc high. they're doing high despite this pain in the periphery. >> this is pete najarian, would it be more about finding companies with growth right now or would you be looking for companies that are u.s. centric or how would you analyze the u.s. companies? >> always follow the money, right? i forget who said that exactly. it was said in a negative connotation. it's really negative m&a. i think first and foremost go where corporations are putting their own money but growth makes a lot of sense if you can find it because it's scarce and that's why it's getting increasingly higher valuation. >> yo

and position in french politics and he has taken unique position among europe and the germans are standing full square among each other. you'll find core europe the economically strong members of the eun ron are going to be standing there with them. after all, these guys are all in big time for greece and if there's debt forgiveness in the medium term they're going to take a hit. they can afford it obviously but that's where they don't want to go. the flakiness of the euro area -- the issue is going to be fascinating to watch later in the summer. i can't call greece. how are we going to call that one. >> i don't think anyone can. we're running out of time but thank you for coming in today. tim harris. and still coming up on the show iran nuclear negotiations stumble at the finish line but is a deal still in reach? we go out to tehran with the latest after the short break. >>> oil prices steady today after wti marks it's sharpest one day drop in three months yesterday. in europe commodity stocks among the worst performers with france's technique plummeting after it slashes it's work force. >> the pressure piles o

let us examine specific examples decency partnership and the way that we deal with each other. europe is that the government -- you represent a government that be unleashing a horde of migrants for the rest of europe if settlements were not made. we were told that we were terrorists. i would've thought that the prime minister of greece comes to us he should apologize for those unacceptable statements. unfortunately, he has passed over them in silence. liability and confidence and 2015, you guaranteed that the place would present a reform program. up until now, there are no specific proposals from greece. indeed, yesterday people were meeting with the basis you are losing confidence in the rest of europe. dignity means strength, honesty and the government has said to degree people -- as said to the greek people that the banks are closing. the ecb is ratcheting up the pressure. the banks are open on tuesday, it is closed -- it is wednesday. you are not telling your people the truth. and that is not dignified politics.

greece and europe have been playing a game of chicken in this crisis each hoping the other will back down but there are now warnings that atms here could run out of cash later tonight if the politicians don't act quickly, events could overtake them. lester? >> keir simmons in athens. >>> the deadline for a final nuclear deal with iran is rapidly approaching. the parties have till tomorrow to reach an agreement, which has so far proved highly elusive. nbc's chief foreign affairs correspondent andrea mitchell has more now from vienna. >> reporter: behind the elegant facade of what was once a viennese palace time is running out on the iran talks again. facing another deadline tomorrow today all the players sat down for the first time in months for a high-stakes game of diplomatic poker. iran has a weak hand a crumbling economy, a population desperate for relief. facing down the world's last remaining superpower plus europe russia, and china. >> at this point this negotiation could go either way. >> reporter: but today tehran revived another demand lifting a u.n. ban on importing or expo

europe. stocks rallying on hopes as steve just said for a greek deal over the weekend. france and spain up 3% eachand italy not far behind. for the week, europe does finish in the green. the broader market stock 600 did outperform the s&p, we're still working on finishing up our week stateside. >> up next, what is twitter's true identity? why nick bilton said he struggled to define what the company really is. plus we're continuing to watch these markets. the dow up about 190 points. s&p up 23, nasdaq up 66. we're waiting to hear from janet yellen the fed chair a little bit after lunch-time. "squawk alley" will be right back. ♪ i built my business with passion. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. >>> good morning, i'm sue herera with your cnbc news update. a senior state department official says the nuclear negotiations w

europe. it was november of 1989 command he and gorbachev have begun to trust each other. george bush recognize that gorbachev in spite of being able to make the changes that everyone was applauded serious problems at home. looking for an excuse to stop changes that they did not agree with. thought he was giving up the empire. bush understood this. i remember the scene a little press meeting in which they would send a representative of radio it's in the couple. not a full-blown news conference. clamoring for bush to be cheering loudly because of the collapse of the berlin wall. they really were as usual obnoxious about trying to say that he did not understand the importance of what was happening. and bush have the self-discipline to express and can't terms of how much he believed that it was going to be good for the world but never once did he grow in such a way that it would embarrass gorbachev and give the hardliners an excuse to stop the changes. for any of you that have been in politics or watched politics you no the self-discipline it requires for a politician not to

europe was not willing to grant that to the greeks. they are very, very keen to keep each package discreet. they do not want some sort of regime whereby all the in dealed countries of europe gang up and think all the things that they would like and then proceed to ask for them separately and have these things transferred across each other. the head of the european commission says the door is open for greece to negotiate credibly and seriously. he does, however have ominous concerns that there are members of the european union that do not want greece to remain in the euro zone. he said earlier today there are knows that secretly and openly are working to exclude greece from the euro zone. we imagine that he means germany, german finance minister has expressed his criticism that greeks have the discipline to remain in the euro zone. here's what he had to say earlier. >> we have to put our little egos and in my case, very large ego away and we have to deem with the situation we face. i continue to believe and i shall always believe that aggression it should be avoided. >> aga

europe. taxpayers and citizens being pitted against each other. lending expectations -- institutions. we now prohibit -- it is banned under the legislation to go back and ask the american taxpayer to do what we did in the fall of 2008. leverage is in so much better shape. stabilizing institutions. they have already dealt with a number of institutions pitting mutual funds and so forth, dealing with non-bank financial institutions. looking over the horizon to make sure they are not product lines are institutions that could cause difficulty. we now have the ability to spot crises early enough to coordinate -- two conduct quarter nation that did not exist in the past. we think it is going to work and we gave the responsibility to the fdic that has the history and record of how to do that. all of those major issues, it did not exist, today clearly we are in far better shape than we were. the reason, of all the economies around the world the one that is doing the best and most stable is ours. it was not a miracle, it was because of hardware. that we put in place that allowed us to achieve t

on the other hand, europe can only stand side by side which is very important during times of trial regarding migrants. each and every country also takes up their own responsibility. it is not only the greek population and the greek people who have a say here it is also the other 18 people. we have one common currerency, we want to keep this common currency and therefore all sides need to be responsible and solidarity. thank you. >> french president francois hollande and the german chancellor angela merkel. euro zone emergency summit called for tuesday. the french about the francois hollande stressed time was running out, what he described was a emergency for be greece and urine also balanced with responsibility and those sentiments echoed by the german prime minister. she said at the same time it was an urgent matter and hoped this could all be resolved this week. she also pointed out that the last offer to the greeks had been very generous and the greek population was not the only population that had a say here, so did all of the other european nations. isaac joinsisaac joins me now. >> i think the first

i can tell you i've gone to europe numerous times the last three years. each time i go they laugh at me. oh, yeah, wasn't it you who imported your mortgage crisis into europe? we have to think about these things before we make policy like that. that interferes with international relations. a couple more things i know to talk about. there's been basis risks that's been created. basis risks is when you have a risk, you want to hedge the total risk. in order to do that, you need a swap product. or use a futures product. but the future could leave you with almost 85% of your risk hedge and 15% just sits there and you absorb the risk. you pass it on to consumers. you pass it on in your prices. also, it sits there on your balance sheet. so we don't know how much of that is out there, but that is starting to happen. the other thing the derivative rules did is really put the hurt on futures commission margins. they caused prices to go up so much it wasn't profitable. only people offering future commission services now are large banks. another thing we have to question

like to talk about today is about the journey that each of these woman -- women took that was representative of the transformation going on in europe'society with respect to human -- women and the world of work. and it came from this necessity that there were huge manufacturing plants and manufacturing jobs that had to be filled by women because the men were off to war. but it really was an incredible impact on the united states and world society to suddenly open up all these opportunities to women. so, without further a do, i have two such samples right here. rosemary lane, who was a news at oak ridge. and isabelle karle:, who was a chemist at a lab in chicago. first, i will ask rosemary to tell us a little bit about her story and how her expense on the manhattan project transformed her life. rosemary lane: well, -- >> them -- the microphone needs to be about two inches from your lip. -- lips. rosemary lane: can you hear me? >> can we dim the lights and little bit? -- a little bit? that is better. thank you. thank you. >> [indiscernible] >> [indistinct chatter] rosemary lane: now it is off again. ok. i came to oak ridge in august 19

europe. it was november of 1989, and he and gorbachev had begun to trust each other.and george bush recognized that gorbachev, in spite of being able to make the changes that everybody was applauding in relaxing the pressure on the eastern european countries, gorbachev had serious problems at home. there were hardliners there that were looking for an excuse to stop these changes that they did not agree with. they thought he was giving up the empire. and bush understood this. and i remember the scene the day the berlin wall came down. i went into a small office to give him the news with scowcroft, and we decided that the president had to say something to the press, and so we arrange for a little press meeting in the oval office in which tv would send a couple of representatives, radio would send -- not a full blown news conference. and as the press came in, they were clamoring for george bush to be cheering loudly because of the collapse of the berlin wall. and they really were, as usual obnoxious about trying to say that he didn't understand the importance of what was

each year, about 18,000 people go to africa to hunt. they're from europe, germany, france.like new zeala their very own domestic animals for the purposes of hunting. >> this animal was in a national park. aparentally, they used bait to draw him out. what do you think of how this hunt went down? >> this hunt went wrong in so many ways. if the allegations are true,it doesn matter whether you're in the united states or yellowstone. natural parks are protected habitats. there is no hunting in national parks. so the idea that you can go into a national park and draw an animal out, bait it out, this is an animal, cecil, who has never lived under the pressure of human beings. it mad a radio collar on. these local guys are from the region. cecil was a celebrity. a 13-year-old stoic representative of this national park. wouldn't they have known who he was? >> i think there's so many things right now that have gone awry. here's the other element of this story. he was bow hunting. bow hunters have to be incredibly close to their target: it's not like a long range pursuit where you are

europe would converge. we would also to love each other. we would all begin to feel the european identity. we would all begin to show allegiance to the flag and the anthem. those of us that criticize this, we were told we were extremists. and we lacked vision. one vision we did not lack them up we understood that the countries of europe are different. and if you try to force together different people or different economies without first seeking the consent of those people, it is unlikely to work. and the plan has failed. it didis not just greece, the whole of the mediterranean now finds itself in the wrong currency. virtually no one in the political arena as a courage to stand up and say that. indeed, i feel that the continent is now divided from north to south. there is a new berlin wall and it is called the euro. and the old indemnities are being resumed, just listen to the way that the german leader of the democrat group this morning attacked mr. speered. it was disgusting, but show the way north and south feel. your country should have never joined the euro. i think you would knowledge

i've gone to europe numerous times over the last three years each time i go there they laugh at me. yeah, but wasn't it you guys who ported your mortgage chriss into europe? we have to think about these things before we make policy like that. that interfears with relations a couple more things we've been talked about. basis risk when you have a risk you want to hedge that total risk, in order to do that, you need a swap product. or you could use a futures product, but the future could leave you with almost 85% of your risk hedge and 15% sits there, and you absorb that risk. you pass that on to consumers. you pass it on in your prices. also, it sits there on your balance sheet so we don't know how much of that is out there, but that's starting to happen. the other thing that the derivative rules did they put hurt on future commissions merchants. the business became unprofitable. the only people that are offering future commission merchant services now are large banks, it's another thing we have do question and we can look at later. one good thing that these rules did, they did bring s

i've gone to europe numerous times over the last three years and each time they laugh at me and they say but wasn't you guys who imported your mortgage crisis into europe? we have to think about these things before we make policy like that. that interferes with international relations. a couple more things i want to talk about. there's been basis risk that's been created in the swaps market. when you have a risk you want to hedge the total risk. in order to do that you need a swap product or you can use a futures product but the future could leave you with almost 85% of your risk edge and in 15% just sits there and you absorb that risk. you passed onto consumers. you pass it on in your pricing. also it sits on your balance sheet. suite of how much is out there but that is starting to happen. the other thing that derivatives the rule did was they really put the hurt on future commission merchant. because prices to cope so much for them to do business became unprofitable. the only people offering now our large banks. and nothing but the question and we can look at a later. one good thin

each other, but the weather has been extremely different. tokyo, rainy weather sunday as well as monday. now let's go to europe then. excessive heat still taking place over western portions of europe. not just people but also animals are coping with the heat. animals at antwerp zoo were offered relief from the heat thursday with food frozen into ice blocks. food was all covered in ice. frozen treats also helped them beat the heat in madrid. with the heat wave gripping spain, they were chilling off with ice popsicle. heat will continue in paris and western portions of europe. also heat will shift towards the east as we go into the weekend. now let's go to the americas. saturday is july 4th. i know many americans are waiting for this date. enjoy the holiday. all right. that's it for me now. here's your extended forecast. >>> and that concludes this hour's news and weather from tokyo. more to come here on nhk world so stay with us. ilence is being held as a week ago today 38 people were gunned down in the tunisian resort town. 30 of them were british nationals. these are the latest images we are getting of commemoratio

but europe sees it as vote on the membership of the euro. whatever it means to eachathens could be words away from a dramatic rescue or financial disaster. >>> we want to show you what the greek people are dealing with the raw emotion of one greek citizen directly affected by this crisis. these images of a desperate elderly greek man struck a chord with our team here. some banks are opening doors to people without a bank card. you see him sitting defeated on the ground. he is being assisted by a police officer and staff member of the bank. you can certainly see the distress on his face. he could withdraw at most 120 euros from this bank. his future like so many others seems uncertain. that is heart-wrenching. >>> to syria now. an explosion at a mosque killed 25 al qaeda members. the dead were part of an al qaeda front. they were gathered at a meal where muslims break their fast in the holy month of ramadan. some are blaming isis militants. >>> so much news out of syria is all about war, death and destruction. but our next story shows how something extraordinary can a

according to "the new york times" europe wastes 89 million tons of food each year.e buying ugly fruit for discounted prices and the trend is headed here. joining me is msnbc's host of "green house" on shift by msnbc. my dad always took me in the dented cans line growing up and still buys them. it's a way to save money. so let's talk about this. >> it's a we to -- >> it's coming here. run us through the stats. you reported on this. >> yeah, sure. we throw out about 40% of the food grown here and a big portion of that doesn't make it to the tables because the farmers can't sell it. why? it just doesn't look right. mother nature is kind of a for aly creator and the stuff out of the ground doesn't look perfectly round, perfectly colored and we can't sell it or people won't buy it or something. but this movement is correcting that. it's returning pride to all fruit of all shapes and sizes. >> if it takes off here how big of an impact could they have? >> massive impact because think of all the water and resources that into growing this stuff and people can't get enough fr

this looks at how each country in europe how successful it is at imposing the vat, the sales tax.ot of greeks do not pay taxes. again, you can see that greece has the lowest ratio of vat tax collections of any country in europe. germany says we're collecting our vat. we're doing our job. you're not y should we be bailing you out? and then lastly is the question of greek spending. here it cuts both ways. europeans want greece to cut the spending more because back in the '09-'10 period they were increasing spending at 30% a year. it has been cutting it. greek spending is now shrinking by almost 10% a year. but given the huge increases in the earlier years, europe is basically saying again, greece shouldn't get away with a free lunch and they need to cut spending. >> you have to grow as well. >> you have to grow as well. greece has the most inefficient bur of course are a tiesed economy in europe. it needs to do reforms. >> let's turn now to iran. reports that negotiators there may be nearing the finish line in a nuclear agreement. joining us live from tehran nbc news tehran bureau c

. >> reporter: whisk, oxy clean and one each from sams club and costco and three from a new detergent available at wal-mart. >> it is popular in europe but new to the u.s. the company launched in wal-mart but plans to expand later in the year. >> reporter: the two in one turned out to be the best laundry detergent. it surpassed tide plus and tide bleach alternative. the other two detergents consumer reports recommends. >> did a very good job opgrass and chocolate and ring around the collar. for some it was the only one excellent on blood. >> reporter: cost about 25 cents. other good options for far less sams club members mark or costco's signature ultraclean free and clear while they don't perform as well they do a very good job and cost half as much. i'm michael finney 7 on your side. >>> let's go outside and take a look at this absolutely gorgeous weather. >> it is a bit on the breezy to windy side. right now out here it's bright and sunny and feels so good. i spent years out here in the dead of winter where it is chilly and when it has been raining and nothing like that right now even though we can use the rain. let's check out li

each of the major five reserve currencies. swiss is actually a bit more pressure. that is from eastern europe. rest of the world tends to push money toward the dollar. now what happens if the fed on u.s. dollar obligations? starting with treasuries? we are getting a push and the moneys of the -- moneys in the area of the world are coming. it complicate that particular part. how much of that is technically the fed's consideration? technically not a very much. realistically, quite a bit. there is the catch 22. thebbing how much of decline under 3% do you believe is related to actual deflationary concerns and real worries about global economic growth? guest: it is slow and estimates are coming down. in the u.s. estimates are not coming down. from an economic viewpoint you can say this is the big growth area of the world. the safe haven is i don't know any way to measure that, but it is very real. i have anecdotal and partial from our own activities. it is sizable. what is the number? i don't know. why did they want to be here? safety. is not a yield induces over their whole market by any means. b

the soviets, british and chinese all try to work in younger patients who are to each other's advantage. second front in europe was a real concern that the americans to shorten time of the war. i would argue those who believed in world conquest because we didn't have a lot of this somewhat hysterical rhetoric that's almost a reincarnation of hitler. stalin wanted to conquer all of europe i don't know why he was -- pretty tame by standards of television. i don't know why stalin was plagued with the americans and british to make a landing as soon as possible in europe. if you want to conquer europe the red army could have done that on its own ultimately without its landing in the west. keep in mind soviets did obtain a nuclear weapon in 1949. they didn't use it. does anyone in this room are watching at home believe for a minute and hitler obtained a nuclear weapon that he would have hesitated to use it at all. pretty enormous differences between the menace of solid on the soviet union versus hitler and not to germany. let me conclude by saying hawkins did believe the relationship of the soviet union could be man

to baldwin's eflts surprise he says it became terribly clear in europe as it never been here that we knew more about each other than any european ever would. this is what he says at length. in my necessity to find the terms on which my experience could be related to that of others, knee grows and whites, writers and non-writers, i proved to my astonishment to be as american as any texas g.i. and i found my experience to be like my they had been divorced from their origins, and it turned out to make very little difference that the origins of white americans were european and mine were african. they were no more at home in europe than i was. it was a conclusion that calledused baldwin to suffer a break down. all americans he said had been made by the same machinery, a machinery that on top of the lie of white supremacy also fid the lie of lib rative mobility. he drew the conclusion that americans, regardless in race, regardless of race are animated by pervasive feelings of disconnection, disconnection from origins in the past and disconnection from human fellowship and community. as a result of this sense

europe have given the green light for a malaria vaccine. analysts says it's an important step in eradicate can the disease that kills hundreds of thousands of children each year. >> reporter: 20-month-old is suffering from malaria. we are concerned about the mortality. if malaria is one of our top causes or reason to admission it's important that we can look at it. >> most families are not aware of the medical developments in the fight against malaria that might one day benefit them. the health officials welcome the news that the european medicines agency has given approval to a vaccine developed by glaxosmithkline. >> we are happy that this is the beginning. we know this person, so there is more work to be done in terms of the development of the malaria vaccine. this is the beginning. it's a first good step. >> reporter: the vaccine was tested in 11 different countries. most of the half a million children who die each year from malaria are in africa. this is peak season for malaria. so far this month they have seen 64 cases. the world health organization still needs to review the data on the sack seen before making its policy recommendations later this

europe instead views it as a vote on membership of the euro. whatever it means to eachns could be just words away from a dramatic rescue or financial disaster. nina dos santos cnn, london. >> certainly, all eyes will be on greece with this vote coming sunday. >>> now we turn to the philippines, where there are some major, new developments in the investigation of a ferry that sunk there, killing 59 people. cnn philippines reporter david santos has details. >> reporter: charges have been filed against the 19 crew members of the capsized ferry that killed dozens of people here in central philippines. now, the local police chief here in ormoc city is filing murder charges against the owner, the boat captain and the crew members of that passenger ferry. police officials here are saying that the basis of the complaint are allegations made by some of the survivors of the mishap saying there were irregularities in the actions of the boat's crew prior to the incident. but investigators cannot say how they were involved establish a motive of a deliberate intent on the part of the