invoking a worst-case scenario some experts say should greece false out of the eurozone, the eurozone will take a hit. the monetary and the monetary union -- the monetary union was strong enough to get through this talk. tom: kate moody joins me in the studio. greece is dominating the markets and weighing very much on the minds of investors. kate: we have seen a lot of volatility on the world markets. uncertainty beginning in asia. it began in shanghai. leading to a close done at three points. the athens stock exchange has been closed for the duration of this week. we have seen losses on the other major european indices as well. same story in paris. the malan stock exchange down 5%. major lenders checked between 6% and 9%. wall street trading down, though analysts say the you -- say the list to the u.s. markets is fairly limited. the euro slant-in early training -- early trading. as much as 2% earlier. now trading at a dollar 12. thank you so much for joining us. let's start up by talking about this market reaction. our investors and the currency room -- and the currency markets react

an exit from the eurozone can no longer be excluded.f we take those comments where does that leave us? if there is no program, where do we go? paul: tsipras was saying greece will not be kicked out of the euro. it is not a case of taking anyone out. if you are country and you have no money, can you survive? do you have to leave and print your own money? those are very strong comments from a board member. he says he wants greece to remain. he said should the creditors be set to buy greeks in the referendum -- in other words, that does hint that the ecb will wait for the democratic process to go through. francine: paul, thanks so much. let us get to our international correspondent, hans nichols. we have the ecb, let us go to berlin. if they default on the payment how is merkel going to react? hans called -- hans: taking sips his speech and -- -- taking tsipras's speech as proof positive that greece will default to the imf. what we have from the government is that he told our party makers that there will not be contagion. that argument see

will it stay in the eurozone?hat -- here is what a few market watches told bloomberg. >> greece represents less than 2/10 of 1% of the global markets. it's hard for me to imagine that this will be a major event for markets. >> like what happened with lehman brothers. we are still waiting for the ripple effect. >> i think tsipras believes that europeans need greece as much as greece need the europeans. it is sadly not the case. >> it is not going to be essential for a long run situation unless it was going to be the general rig up of a major currency, which of course the euro is. i do not think it is going to happen. jonathan: there are some of the top voices here on bloomberg tv. let us get one more voice from athens, guy johnson. guy: thank you very much. questions are being asked about whether or not long-term viability is going to change as a result of what is going to happen. let us talk to olivia, who is joining us now. you guys especially -- you guys specialize in shipping. it is a big industry here, isn't i

it would mark the moment from when the eurozone moves to disintegration. he says the eurozone is not sustainable and new treaties are required to fix it. he despairs of that happening. he says the finance ministers signaled that last week's the last last week's meeting that they have learned nothing and forgotten nothing. >> let's move over to the united states with another big news story. the church that was the victim of the racial shooting last week finally reopened and has services again. >> that is right the church had its first service since the shooting on wednesday night. "the new york times" is among the papers reporting over 1000 people crammed into the church which normally seats 800. in attendance was the governor mayor, and other public representatives. the man presiding said a lot of people expected us to break out in the riot, but they did not know us. he called on the congregation to be alert against bigotry and hold officials accountable. >> there has been controversy since the shooting over the confederate flag, which still flies in south

the eurozone finance ministers rejected this. the dutch finance minister says that the eurogroup will consider a new bailout after sunday's referendum. so we have a no and and maybe from the eurozone finance ministers this evening when it comes to this letter sent to them by the greek prime minister. we spoke to someone about this bailout request a little earlier, the chief european economist who says that a new bailout will be a tough sell for athens. >> greed has not even included the second macroeconomic adjustment program -- greece has not even completed the second macroeconomic adjustment program. starting a third one most countries would be uncomfortable with that. i went back and i reread article 13, which is mentioned by alexis tsipras in his letter. it is true that some of the conditions can be met to have such application. but at the same time, a program based on article 13 requires a memorandum of understanding that participation of the imf is encouraged, and the negotiations have to be run by the european commission.

later on, the eurozone in employment which will be out.up, another deadline looms but this time for nuclear deal with iran. will there be enough time? what will happen with the deadline? we will have more. ♪ anna: welcome back. here of the stories need to know this morning. a deal restricting iran's nuclear to these would not be restricted today. however, u.s. and european officials say progress is being made due to a comprehensive agreement. china's central bank is making further actions to loosen monetary policy. $5.6 billion into the market system and lowered the lending rate. that comes as the weekend failed to stop the biggest rout which has stopped more than 20% of the index. the battle lines over greece has hardened as the country into the second day of capital controls on the deadline is 1.5 billion euro. the prime minister said his country will not be thrown a of the euro because the cause would be "immense." his comments came as 12,000 people gathered in central athens to support his call to reject credit conditions for new bailo

that will be on the shoulder of the taxpayer of the eurozone? >> i think you're jump to go conclusions. it is the responsibility of the greek government in answer situation to stand up to its obligations to its financial creditors. first of all the launch of the imf will come up. but you're quite right there is over the years the eurozone has given very very large financial support to greece. at more and more friendly rates and maturity length. but it is a responsibility, and it doesn't go away. it is a responsibility to the greek government. also mending this referendum or after this referendum it is still the responsibility of the greek government to deliver on its financial commitments. that's all i can say for now. we'll go to that side. the gentlemen with the glasses and then the gentleman in the middle. >> you say you're going to reconvene. will greece be in the room when you reconvene? could you tell us that? you say that greece must meet it's financial obligations. there is an obligation coming up on the 30th of july. did you discuss the

alexis tsipras commented that they will likely not throw grease out of the eurozone because the costwould be enormous. and according to next sunday's referendum the stronger the rejection of the creditor deals, the stronger greece's case will be. whoever calls, i always pick up. dw's correspondent in athens we will bring him in for some analysis. hillis us more about what the prime minister had to say. >> we had some blame game. some european partners blame greece for not presenting concrete proposals during negotiations or for not being credible. he tried to turn the tables saying that, unfortunately, it was the other side. there were not behaving properly. they were given to understand that they were in favor, or at least, not against the extension of the great program the negotiations with other means. he would not be able -- sarah: what exactly are the greek people being asked to decide on? >> that is a complication. the people do agree with the latest proposals by international lenders. and in a comprehensive way understand what it's all about. sarah: thank you for the update fr

eurozone officials will discuss the plan tonight. stillhink greece is living in its own world and playing a game of chicken, and with the consequences, as we were talking, he does not represent the full part of the country, but tsipras has taken over the brick. mark: a new bailout would be greece's third and five years. chris shiller -- scarlet: christie has become the 14th republican to announce a bid for the right house. governor christie: america is tired of handwringing and indecisiveness and weakness in the oval office. we need to have strength and decision-making and authority that can the oval office, and that is why today, i am how to announce my candidacy for the republican nomination for president of the united states of america. scarlet: party leaders and business executives had wanted christie to run in 2012, but he turned them down. early backers have signed on once again, such as a founder of home depot. mark: americans are growing more optimistic about the economy. consumer confidence hit a three-month high in june, hi

>> we never intended to leave the eurozone. we believe that greece is part of the eurozone.ans that we will do our best to do so. there are red lines. the situation -- if we had followed their plan we have the looking for a long period of a recession that this economy couldn't bear. guy: for the average greek person -- you have talked about the proposal that is being put forward. lecture you the greek people be thinking about this? -- what do you think the greek people should be thinking about this? >> give us the necessary fiscal space in order to bring back growth. not offer as a proposal that needs to be implemented. for this reason, the greek people should -- they should rethink. guy: there is some confusion about exactly what institutions have offered. put out a note yesterday. it was published in greek. it look different to the basel may be put in front -- to the one that was put in front of the greek people. >> this is not the case. the greek government has an official proposal given by the institutions. it would be a slight changes. i don't think there is a big diffe

alexis tsipras commented that they will likely not throw grease out of the eurozone because the cost would be enormous. and according to next sunday's referendum the stronger the rejection of the creditor deals, the stronger greece's case will be. whoever calls, i always pick up. dw's correspondent in athens we will bring him in for some analysis. hillis us more about what the prime minister had to say. >> we had some blame game. some european partners blame greece for not presenting concrete proposals during negotiations or for not being credible. he tried to turn the tables saying that, unfortunately, it was the other side. there were not behaving properly. they were given to understand that they were in favor, or at least, not against the extension of the great program the negotiations with other means. he would not be able -- sarah: what exactly are the greek people being asked to decide on? >> that is a complication. the people do agree with the latest proposals by international lenders. and in a comprehensive way understand what it's all about. sarah: thank you for the update f

it's greece remaining or not in the eurozone. the issue a is the non-existent offer or threat as you might want to call it from the cd tors our partners. -- creditors, our partners. >> thank you for talking to us live. >> more than 500 people have been injured after a fire broke out at a music event. flames erupted causing party goers to run for their lives. many suffered serious burns, as erica wood reports. >> around 1,000 people were dancing to a d.j. at a water park when coloured theatrical powder thrown from a stage ignited. amateur footage shows that within seconds crowd members closest to the stage were engulfed in a fireball. they ran to get away. more than 500 suffered burns, especially to the lower legs. >> everywhere was running and pushing each other. it was like hell. >> reporter: almost 200 were reported injured, and some in a critical condition. one 18-year-old is said to have burns to 90% of his body. >> translation: everyone was creaming and bleeding. there was blood everywhere. >> reporter: parr metrics caught t

the expansion points to a acid than expected eurozone recovery. let's bring you up to date then, with the figures when it comes to stock markets. in europe, we did see indices closing above the flat line with greece very much taking center stage. the athens index up more than 6% at the end of the trading day. let's also bring you up-to-date with the american indices this hour. we have seen the u.s. indices turning from negative into positive territory -- not by much, though, when it comes to the nasdaq and the s&p 500. this as investors are mulling the latest u.s. economic data and also keeping track of greece and developments there. if you look at the data, we did see a greater than expected to klein in durable goods orders. at the same time, we've seen a pretty strong figure out on u.s. home sales. a little bit of a mixed bag when it comes to u.s. economic data on this session, and that is perhaps why we are seeing the indices go in and out of positive territory, but overall, they are pretty close to the flat line this tuesday. let's bring you u

demonstrators are showing their support for keeping greece in the eurozone. with just hours to go before the athens bailout expires. will get the latest from the capital. dozens are dead in indonesia after a military plane crashes into a residential area. and clash of the titans at the world cup in canada. tonight's semifinal sees germany in the usa go head-to-head for a place in sunday's final. i'm sarah harmon, thanks for joining me. it's too late to extend the bailout program before it runs out in a few hours according to ahead of the eurogroup. he was speaking after an emergency telephone conference of eurozone finance ministers to discuss a last-minute proposal by athens. little crossover to brussels in just a moment to find out what all this means. but first, let's turn to athens. >> thousands of pro-euro supporters gathered outside of parliament as evening fell. sentiment is strongly divided over whether to strike a deal with greases international creditors or not. >> we must say yes to europe. citrus -- alexis tsipras will turn us into north korea. >>

european finance ministers meet to try to stop athens from leaving the eurozone. the afghan parliament comes under attack. taliban gunman storm the exoined where lawmakers were meeting. and returning to white force village. in so years the rural chinese community has been transformed into a modern city. we look at the changes. >> welcome to our viewers on public television here in america and around the globe. in every greek drama there are plenty of twists, and today there is every sign that athens and its international creditors are hammering out a deal to avert a full scale financial crisis. the greeks have a little more than a week to avoid defaulting on debt. as the meeting in brussels ended, angela merkel said intensive work is needed but e.u. leaders need to work for a deal. here is our report from brussels. >> it has felt like a never-ending saga. but now the end may be looming. greece really is running out of money. it could default on its debts in days. germany, trying to avert a crisis knows it may have to agree to new loans. this summit was made to sta

the eurozone. >> greece belongs to hear.e need it because we are a poor country. >> greece is about to get even more poor with the end of its current bailout deal. the great administer called his cabinet together for an urgent meeting. in public the message was tirelessly upbeat. good there still be a deal before sunday? >> is always sort things out one minute before the day. do you think it is likely that we will find a solution one minute before midnight? there's a good belief that could happen. >> a last-minute deal between greece and its creditors is nowhere in sight. earlier, in this less well healed part of town, we found shoppers indifferent to political rumors. people were working out with a could or could not afford to buy. they are desperately trying to sell these cherries that he bought for two euros a kilo this morning and is now selling for one euro 50. most of the customers see fruit is a luxury. a luxury the greek government does not have is time. payments argue, the country risks falling out of the eurozone,

only 2.7 of the eurozone gdp. it's a small zone. this will be a step backwards in terms of european integration and we'll see what britain does in terms of its referendum. but i don't think the consequences of global markets are great. >> rose: how about contagions from nearby states lierg like spain, portugal and ultimately? >> i don't think there is much a chance of that. much of what greek owes are other governments. you wouldn't expect to see any dramatic financial linkages. i think the story is long-term what does this mean for the future of the european and the eurozone project and i think that, over time, you have to be concerned about the forces that are pulling europe apart in other countries, like u.k., spain. i don't think these are instant concerns. it's not like lehman where you have one failure and then a series of failures, but you look at the trend of more radical parties on the rise pretty much everywhere, and you can't help but wonder, especially given the absence of robust growth, whether you see similar stories p

still the eurozone response is, not interested. greek people rethinking their feelings about prime minister tsipras. adam: what about peter schiff? he says crisis in our own backyard is a greater tragedy than greece. puerto rico, a tiny island with a huge debt owes more than one billion dollars to u.s. investors tomorrow but making no promises to pay. cheryl: exactly. there are now 10 spots in the upcoming gop debate. there are 14 candidates. chris christie officially in the race today but may be over before it begins if he doesn't work new jersey magic in new hampshire. adam: millions of americans celebrate the nation's independence this july 4th but law enforcement will be working overtime. the fbi especially to try to prevent a terrorist attack. a new warning from the fbi all about it. let's look where the major averages are going to end the day with less than 40 seconds in the trading session. there is breaking news coming out of greece perhaps this referendum actually may not take place. we have watched the dow up and down all

they also made clear how unhappy greece's eurozone partners are. saying as much as they regret to reject what was on the table even though talks were not concluded even though prime minister alexis tsipras said that he did warn them by telephone. >> thank you. >> the tunisian government is dismissing reports that a group linked to isil is behind friday's attack on a beach resort. the tunisian prime minister said that the gunman had never traveled abroad and was not previously known to police. there was sheer terror for the tourists in the area. >> everybody suddenly stand up and they were running running really fast, and run run run. and also security. they called out to run. go into your rooms. runaway. everybody just picked up what they had nothing. everybody was just running. they told us go inside. go into the bar. go to your rooms. and it was. >> meanwhile pictures were released by an isil affiliateed group of the man suspected to be behind the attack. 23-year-old was an aviation student from a town around 1 kilometers. well, let's go back liv

there has never been anything like this to happen in the eurozone. 19 members. could it go down to 18. france was not like other finance ministers supporting this decision. it says that greece does not necessarily have to leave the euro despite an attention default being on the cards. now there is concern, of course, about a run on the banks about possible credit controls being introduced. introduce chaotic situation happening when the markets open again on monday. the markets have hoped for a last-minute deal. there never was one. and nothing like this has happened in the european finance sector before. >> andrew, we're waiting to hear from a possible euro group to speak in a couple of hours. john, it was always a gamble to announce this potential referendum five days after the deadline. it has not really worked in their favor. now they're saying no the deadline stands tuesday evening. what sort of political reaction have we seen towards both the announcement of brussels, but also the government that took greece to this point? >> well, in fairness to the greek

>> i think the majority likelihood is that they stay within the eurozone. however, public polling has taken an interesting twist. if you ask greeks if they want to stay in the eurozone, about 80% say yes. if that is the only question. if you say do you want to stay in the eurozone with these conditions of austerity, support drops significantly into the 50% range. this tells us it will be a close call when the referendum is held sunday, and it is largely going to depend on the wording of the ballot. >> how do you think things play out? do you think there will be a referendum? have you think they will vote? -- how do you think they will vote? >> i think there will be a referendum. even though it is a short time to organize a big vote like this across the islands, i think it is so important. we are working with a situation where the banks are shot. it is a terrible mess. that makes things terribly uncertain. when people are being treated the way the greeks are and when the e.u. is scaring the greek it is, i think it gets -- going to be very hard to call someth

to get rid of the presence of greece in the eurozone permanently.laura: in pakistan, temperatures have dropped to 34 degrees amid signs scorching heat wave is coming to an end. 800 people lost their lives after temperatures soared to 40 degrees. it will have been -- people have been fasting for the muslim holy month of ramadan. a court in the netherlands has ordered the government to cut the country's greenhouse gas emissions by 25% by 2020 to help fight global warming. it is a sweeping victory for dutch environmentalists and it could spark similar rulings around the world. greenpeace has called it a game changer in the fight against climate change. french taxi drivers have called an indefinite strike to protest against competition from the driving service uber. nearly 100 uber drivers have been attacked in the past two weeks. despite opposition, the california-based service appeared to be going from strength to strength and is launching its low-cost uber service in free french cities. reporter: the conflict between taxi drivers and uber in france i

the fundamental problem is that the eurozone as set up doesn't work. there's a common monetary policy and currency but nothing like it on the physical side, so if there's a problem with a country like greece the eurozone doesn't have the means to deal with that. we have seen over the last in my view years that it has not worked out well for greece. that's a long-term debate we need to have. how can we reform the us open but in the short run we need to fix the problem. the house is on fire. how can we put it out. >> do you believe the eurozone would let greece go? >> at this stage it's speculation, i don't know. my guess is as good as anyone. there's a huge risk in letting greece go and i do not believe germany wants that to happen, greece doesn't want it to happen, the united states doesn't want it to happen. everyone has a common goal. how do we get there? >> we heard the prime minister making defiant statements and it's his belief that what is happening a part of a plot a ploy, whatever you want to call it to get rid of the government and replace it

there has in these concerns that the eurozone was heading for a deflationary spiral. let's talk you through the united states market. we are looking at the u.s. markets mainly in the red this hour with the dow jones industrial average down about 8/10 of 1%. the nasdaq is ever so slightly above that flatlined. we have seen energy shares strengthening stateside as oil prices have an heading higher. that isn't enough to push them much of a that flatlined. let's talk you through some news. hsbc is reportedly planning to announced thousands of job cuts. between 10 and 20,000 positions will be cut as early as next week. hsbc has not commented on the report in public. they have been downsizing cutting as many as 50,000 jobs since 2011 to improve profitability. that has sparked criticism among analysts who say the strategies and working. >> they are playing the same record, they are adopting the same strategy. this will be the fourth year in a row. they have had tens of thousands of job cuts. this is repeating the same pattern. this is an answer to their problems. marcus: wor

yes, the eurozone actually enforced and taken to the greek government.nd it was time for the people to decide on the - whether they would like - would accept or deny such proposal. >> queyes, well the greek parliament is discussing the mechanics of how a referendum will be held under the terms of the constitution. do you feel this essentially is a question for greeks as to whether they want to return to the drachma or stay with the euro as a currency. is that what it boils down to? >> not at all. it's clearly whether the greek people accept the proposal of the institutions or they want something - another proposal of the government or something - a proposal that would bring closure to growth and debt relief. it's not about - besides not choosing between drachma and europe. the government is pro-european... >> sorry to interrupt. the government made its feels clear that it would support a no vote. >> sure. >> and the europeans, creditors, said effectively greece in holding the referendum is closing the door on further negotiations. >> actually the referen

europeans probably underestimated the impact generally across the eurozone. if one country goes why can't others with substantial debts, that come understand pressure. including ireland, with a debt to g.d.p. ratio of others 127% and portugal, and spain movering around there too. once they say that the euro is reversible. they'll be testing the market and the cost will be significant, and what is more they'll not get their money back in greece defaults. that is substantial. over $50 billion is due to germany alone. >> palestine is submitting documents to the international criminal court in the hope of bringing war crimes charges against israeli officials. it's the first time prosecutors will see the palestinian complained against israel's breach of national law. imtiaz tyab reports. >> reporter: this is as close as this person can get to land his family owned for generations. when israel built the settlement considered illegal, an electrified fence was built. he shows me how it prevents him accessing his property. he has not lost hope of regaining his land on

time, we will have the eurozone pmi data to digest. we will digest that information on the manufacturing and services sector. coming up, things are looking sunnier this morning and greece. you are looking at live pictures from the greek capital and the next picture says -- our next guest says that merkel will do what it takes to keep them in the euro zone. anna: welcome back. it is 17 minutes past 6:00 and 17 minutes past 7:00, if you are in frankfurt. the bid to keep britain into the eu -- in the eu. they have identified five key areas of reform including a clear and alan's approach to immigration. david cameron is preparing to meet the leaders in brussels. we have seen signs of the slowing in china. the manufacturing index of june has each estimates. it suggests the industry is contracting. it is easing of monetary policy. the european leaders have given the greek prime minister until tomorrow night to make the final push needed to says fight creditors and end the standoff that threatens to split the eurozone. the government submitte

it used to be more liquid before. , there ise eurozone no panic.ven the spread widening between italy and germany or spain and germany have been quite subdued yesterday. we will see if this continues. overall i would say that investors have been overweight this week. it's a test about their own peripheral positioning. if it were to continue, they would be hurting some of the peripheral market much more. do you see an opportunity to buy in on some of these dips? we have been playing that type of situation. we are shorting the tenure futures against the bond. remember that spain has a big election in november in place over there. we have been well-positioned for that move. talking about the recent volatility in the bond market, when you take a look at the increase in these spanish, italian, and portuguese yield, were still not at the 2011-2012 hike that we saw during the debt crisis. could we see that maybe things have calmed down a little bit and we might not -- the euro might stay intact? the contagion is maybe not so big. we've been talking about

presumably, the currency and the eurozone.t be rules and regulations and all member states have to protect and respect those rules. that as an indication of how sour things have gone with greece. they did not feel as though greece was an honest undershooting partner. you heard that earlier from the eu commission president. he was talking about how they made generous offers to greece and mr. superset to be honest with the greek people on what they had received. i think we have a fair amount of bad blood between all the sides between greece and the partners in europe. there will be a referendum on sunday. we still don't know how it would go. if they vote yes, that could mean the collapse of the cyprus government. then you could have a new government, whether that is entirely new or a caretaker government. that government could cut a deal with the likes of germany and france because they are still open to a deal as long as they think there is honest negotiations going on. scarlet: great content. solidarity between the german chan

is not a part of the eurozone. however, u.k.'oke before parliament earlier today. he basically said the euro weakness could drag the pound's sterling, their currency, down into an area they hadn't anticipated or up, as it were. if you get too strong a currency against the yaw row, that -- euro, that tends to hurt u.k.-based companies. we stand about a pound 56, that's with the dollar, you do have $1.12, had been $1.09 earlier. so we see a little bit of recovery here. >>> we do have some breaking news. nbc is telling donald trump, you're fired. nbc universal says it is done, ending its business relationship with donald trump in the wake of his recent comments about mexican immigrants. that after a petition asking nbc to fire donald trump got 200,000 plus signatures. during his presidential campaign kickoff, you may remember, donald trump said that some of those mexicans who cross the border are racists and criminals -- rapists, rather, not racists, rapist and criminals. here's his reaction to nbc giving him the boot. >> well, i th

we are not as bulled up over the eurozone project. we think it will strengthen once the eurozone goes through this transitory time and we will see growth of about 3% in the united states for 2016. alix: isn't it though weaker euro good? chad: yes. that's why you have a strong pmi number today. we believe going forward, you have to have real economic activity as the credit dynamics are going to be listless. joe: do you think if europe can get the grease issue solved it can see some nice growth and for a while? guest: it has a great actor rob with a tailwind behind it, so that should help. as you showed, the pmi number was very good. considering what they have been through a year or two ago, it looks good. chad: when we talk about this trajectory of growth in the eurozone, we were not looking at a four handle on gdp or a three handle on gdp. the reason is you have an aging population, you have productivity that is not great and we are believers that the long-term equity market returns are around 4.5% over the next 5-7 years. alix: initi

campaigned on staying in the eurozone.n the european side, even if frustration is melting, it makes more sense to keep greece in then to allow a situation it would be out. to paraphrase, angela merkel when there is a will, there is a way. francine: are you confident that the main players, the people negotiating, the government wants to greek -- greece in the eurozone? that is what the people want. you look at some of the chief negotiators that it is a realization they may actually not feel so bad about leaving the eurozone. gilles moec: there seems to be a faction in syriza which is contemplating leaving. there was always a faction that kept quiet so far. i guess what matters at this stage is what the key players on the political side in greece continue to see. wristers tsipras and mr. tsipras -- mr. tsipras and mr. varoufakis. that would be a good reason to be worried. and the stage of debate, you cannot really call it a negotiation. the debate where annie weapons can be -- any weapons can be used and fear and even the sc

greece will stay in the eurozone. we'll have the latest on that.cking on the stock futures, up on this friday morning. dow futures up two. nasdaq futures up five. you're watching "fbn:am," your first look at morning markets and breaking news. ♪ attention. did you or anyone in your household work around asbestos-containing gaskets and packing? the garlock bankruptcy may affect your rights even if you do not presently have an asbestos-related disease. garlock's products were used in industrial and maritime settings, where steam, hot liquid or acid moved in pipes. certain personal injury claims must be filed by october 6, 2015. you may have a right to vote on garlock's plan to reorganize and pay claims. call 844-garlock or go to garlocknotice.com i am totally blind. and sometimes i struggle to sleep at night, and stay awake during the day. this is called non-24. learn more by calling 844-824-2424. or visit your24info.com. sandra: breaking news. a day of mourning in charles ton south carolina, while the suspect in the horrific shooting there face as co

. ♪ no deal came out of the emergency eurozone talks on monday about greed, but for the first time theres real hope that an agreement can be reached in the coming days. euro finance ministers our meeting tomorrow to approve the package followed by one final eurozone meeting with leaders on thursday. here are the details. >> it's a markedly different mood in brussels as eurozone leaders walked out about emergency summit -- walked out of an emergency summit on greece. it became abundantly clear it was staring the fault of the face. >> greece today shows significant progress. >> the latest proposals include business taxes on the wealthy and bringing the retirement age up to 67, a step in the right direction according to european let -- leaders. but now the real work begins. >> there is a lot of work left to do in the next 48 hours. we are definitely not at the end of the road yet. >> monday's gathering was called to prevent the worst-case scenario of the so-called grexit. now leaders appear to believe there is a deal within reach. >> and convinced we will come to find an agreement in the co

it would be naive to think that the eurozone is happy about the situation, it's an attempt by alexissipras to say - some are saying on attempt to put pressure on the whole euro group by effect live i tugging if they did not agree to extend the bailout. it would be undemocratic. what we are going to see is a discussion on whether or not there'll be an extension of the bailout, but more importantly, if there is a decision not to extend it then on tuesday that i.m.f. payback won't happen and the question is will the i.m.f. will christine lagarde, the leader of the i.m.f. inform board members, then it would be a default. she could leave it for up to a month. that would enable this to be a situation where really there's just arrears. the key question then would be will the european central bank pump billions. >> the greek banks, will there be a run on the banks pt the situation is unprecedented. there has been many, many people talking about unchartered waters in the past five years. now, we are right in them. it's really a crisis no one knows what will happen number. >> a lot of uncertai

is not a member of the eurozone and quite clear in the u.k. will never be a member of the eurozone.ion-making in the european union if the eurozone formed the caucus? like the ecb and they make decisions on behalf of the eurozone that affect the u.k. and the u.k. could be damaged, marginalized, and become like norway but in the eu with all parts of the you which will be a bad place to be. we need to be clear how it will function in decision-making if the eurozone is driving the agenda. francine: how important is it to make sure the referendum isn't put together too late because that is uncertainty for your members and businesses and give david cameron another room to negotiate? john longworth: we set we shut the referendum as soon as possible. as soon as it is possible to hold it, we should do so to reduce the level of uncertainty for the shortest period. my personal view is the referendum will take place in the autumn of 2016 but it could be longer. francine: what is your take on all of this? businesses are really the backbone of this economy and make sure london and the u.k. is st

they want the government to do what it can to stay in the eurozone. continuing in brussels. that have been discussions center on how greece will stay in the euro. we are getting the sense some progress is being made, but again the deadline is june 30. stay with us. the bloomberg market day continues in a moment. ♪ mark: it is 11 a.m. in san francisco, 2:00 p.m. here in new york, and this is the bloomberg market day. optimism ahead, of the greek talks in brussels. leaders are meeting at this minute. we will review the latest. scarlet: municipalities on the west coast looking to take a page out of new york. dairy queen is looking beyond ice cream to siu and sales. they are heating up to attract a.m. rid -- younger audience. mark: welcome from bloomberg world headquarters in new york this is marketing, i am mark crumpton here with scarlet fu. you mentioned earlier, stocks are well off their highs, but we're still holding onto gains right now. he s&p 500 did get within one point of making a new high. e

the eurozone finance minister meeting. the problem, of course, we face is, as you were saying just before i came on air, is that there is no new proposal from greece. despite the efforts from european leaders from jean-claude juncker as well, trying to commit a new proposal it seems like the finance minister of greece is going there tomorrow without any new proposals. it's like going to a birthday party without taking a present. markus: that was angus campbell they're speaking earlier. the greek situation weighed on european markets on wednesday. all three indices the side of the atlantic in negative territory. in the united states this hour, the markets are in positive territory. things turned around after a federal reserve meeting. that wrapped up a little bit earlier. this as investors are digesting the signs coming out of the fed when it comes to higher interest rates. the fed kept interest rates steady this time around when it refrained from giving clear clues on when it will start hiking those rates. that is seen as

will kick greece out. >> they will not get out the eurozone. let me explain why. because the cost is immense. the economic cost the financial burden. >> as the prime minister was speaking on television in the square you see behind me in front of parliament thousands of greeks were out to support him. what they call a vote no rally chanting oxi, oxi, that's greek for no. but tomorrow night, same time same place, a yes vo rally, and you can be sure everyone will be watching the size of the crowds to get some kind of inkling as to how sunday's vote . for "nightly busine michelle caruso-cabrera athens greece. and the treasury department is urging all parties to get back to the negotiating table ahead of that greek referendum. and it's urging greece and its creditors to find a compromise that balances reforms with debt measures. a treasury official also reiterat that u.s. exposure to greece is mental. >>> western union, the world's largest money transfer company, reportedly closing for business in greece for at le according reuters, the company has

we are now hearing there will be an emergency summit of eurozone leaders on monday. that's prime ministers and presidents. these are the head honchos coming together, which is a significant development in all of these greek talks. there was a little sign of progress, as laura was just saying, at the finance ministers meeting in luxembourg. the head of the eurogroup says he wants to see credible solutions from the greek side and the head of the international monetary fund was also there, and she echoed that. greece wants to get its hands on this lifeline. time is short. the greek government is not ready to sign up for the reforms that creditors want in return. let's listen to the two sides as they have been talking in luxembourg. >> not smoke and mirrors. it has to be tangible proposals that can be a substitution to proposals that have been put but from our perspective, it has to be credible because the imf lends the money of 188 countries , and we are accountable to those countries, from the poorest to the richest. >> close to a state of mind that accepts an accident

this is to show solidarity convincing the world that the eurozone is strong. this waiting speculators from pulling out of greece. now we wait. the thursday they will a digested that plan. it's the last time officials will meet here before the end of the month. before greece has to make it's toughest choice. before the eurozone potentially changes it's biggest shock the like of which it has never felt before. al jazeera at the europe council in brussels. >> and as leaders met in bless else this was the sceneouts of parliament in the greek parliament athens where pro european protesters came out in the thousands to call on their government to keep in in the arrestin the arrest eurozone. >> they havethese people come mainly from the private sector. they want to see a productive competitive economy. they don't want to see more taxes or austerity in public spending. today that's what they have heard the government may have capitulated to after five months of talks. during that time the prospects have darkened from growth to renewed recession. this time it's not bee

could create some political problems for the eurozone.ugh as i say the economy overall has been improving and is much better able to handle a greek exit. i think president obama spoke with angela merkel yesterday by telephone, saying look, we don't want greece to exit. there is whole another part to this story, maria. greece is a nato member. if russia and mr. putin come in at the last second with money that could make things very interesting indeed. maria: ashley, thank you. joining the conversation, nicole petallides. you're looking around the world and we're seeing impacts this morning. >> greek bonds 14 1/2%. right here at home we'll be watching for a strong u.s. dollar. we've seen u.s. stocks come up off the lows. overnight we were watching u.s. stock index futures down 1 1/2% for the dow in particular. that has come off the lows. 1.1% to the downside. when you talk to the trading desks for near term it is risk-off, right? we'll see a flight to quality here at home. that is a point you made earlier, maria. in the midterm of the big p

does the deal get made, does greece stay in the eurozone? guest: the base case is on very weak footing these days it is still that we will get a deal with a typically european compromise which will lead to short-term release but then in the coming months greece will have to decide if it is willing and able to come up with a credible commitment to implement these reforms and that we do not get a repetition of the current case. the high risk that the entire situation can still escalate later on. mark: good to chat to you. should we checked the markets? the carmaker unveils a new alfa romeo model. is it too little, too late? korean prices see a stimulus package to soften a double blow of the deadly mers virus. we break it down. this is what is happening in the market today. after four days of gains, two days of declines. stocks have opened lower as tsipras heads into that meeting with the big figures from the creditor nation. way in on what is happening today. you will always find me on twitter. will there be a deal in the next 24 hours? we are

and the eurozone.e are the stories you need to know -- euro area finance ministers will meet tomorrow for their fifth session on greece, over a week after emergency talks yesterday failed to yield a breakthrough. angela merkel said saturday's meeting is a decisive significance. she and her finance ministers have and told to do everything possible to strike a deal. and new chief executive for tesco will face shareholders for the first time at the company's annual general meeting. dave lewis took it up last september best than a month after the hole was discovered in the account. that oversaw the biggest annual loss and is expected to face investor questions. and the u.s. supreme court has rejected the latest challenge to obamacare. the president's five-year-old health care rule was upheld. the controversial policy would be hotly debated during the presidential election campaign, especially within the republican party, which is posted from the start. the swiss watch industry is facing a tough time with w