or just to speak more clearly: there is a greece in the eurozone or no more greece in the eurozone but that would mean that europe is going backwards and not going forwards anymore and i don't want that. >> the partnership between germany and france is absolutely central to the eurozone and the european union as a whole. so the rift between them over greece could potentially have far-reaching consequences. there have already been marathon talks between eurozone finance ministers on saturday and on sunday. those negotiations were difficult, and at times ill-stem perked and it's no reason to think that the meeting currently underway between heads of government will be any easier. these talks are only about starting formal negotiations for a new bailout for greece. there will be more difficult and painful decisions for greeks before they see any more new money. >> jacky rowland reporting there from brussels and in brussels for us as well is neave barker, so bring us up to date what is the latest neave? >> well barbara eurozone leaders have been holding bilateral talks. they have now retur

what do we want in the eurozone? do we want a eurozone that is anti-anglo-saxon, a left-wing that protects what people see a social guarantees, or do we want to eurozone that is actually a method for introducing anglo-saxon, neoliberal capitalism? it is not a question of greece, is a question of france, italy -- ursula: northern italy does not one anglo-saxon capitalism, either. that is not what is wanted in northern europe. alan: it is more than that. france does not want a social europe for the same reason. they will find a means to save greece precisely for that reason. melinda: faye karaviti? faye: at the same time, no one is willing to admit that it is a problem for the eurozone as a whole. they keep advertising we are as strong as we have been before, we can face this, no problem with the country exits the eurozone, and so on. i'm not sure they are willing to put their views to the test. melinda: thank you very much. we will know more a week from now. many thanks for you being with us this week. see you soon. 1

is it worth it for the rest of the eurozone itself?well, i think you have heard consistently from angela merkel, the most powerful politician in europe and the european union, that she does prefer that greece stay in the eurozone, if that is possible. then europe doesn't risk the unknown of what happens for the first time when a eurozone member leaves, what might be the impact globally on markets and the impact on others in the european union. greece has been a net recipient of aid, infrastructure aid, development aid - massive infrastructure aid over the last 10-15 year, and for the greeks to leave is a shot in the dark. it's a gamble. if they go back to the drachma, the currency greece had before it entered the eurozone, it's a big gamble as to whether or not the greeks can sustain a new currency, defend the currency under a renewed central bank, whether that may further the depression in which greece falls, and greece lost about 25% of its gross domestic product in the last five years, and has 50% youth unemployment, little foreign

it is not a referendum on staying in the eurozone. brent: promising them they will keep the euro and the european central bank has said that there will be no more emergency money for the banks. >> the one european introduced in -- institution has helped. it has given money to greek banks for months now. it has decided to keep still now. that means no fresh money comes in. they just gave an interview on greek tv and said to the question, when will the banks reopen? he said, very soon. everybody knows that a new agreement will take weeks and weeks to negotiate. brent: these definitely are days of destiny for greece. angela merkel is definitely on the same page with the eurogroup. she dismissed any talk of making any kind of deal with athens. germany is greece's largest european creditor. fault or a new bailout will be expensive for berlin. >> the director of germany central bank, germany alone could use 80 billion euros if the greek crisis can't be turned around. wednesday afternoon, german finance minister presents a balanced budget fo

it is not a referendum on staying in the eurozone. brent: promising them they will keep the euro and the european central bank has said that there will be no more emergency money for the banks. >> the one european introduced in -- institution has helped. it has given money to greek banks for months now. it has decided to keep still now. that means no fresh money comes in. they just gave an interview on greek tv and said to the question, when will the banks reopen? he said, very soon. everybody knows that a new agreement will take weeks and weeks to negotiate. brent: these definitely are days of destiny for greece. angela merkel is definitely on the same page with the eurogroup. she dismissed any talk of making any kind of deal with athens. germany is greece's largest european creditor. fault or a new bailout will be expensive for berlin. >> the director of germany central bank, germany alone could use 80 billion euros if the greek crisis can't be turned around. wednesday afternoon, german finance minister presents a balanced budget fo

eurozone leaders were on a knife edge. don't be fooled by this smile the greek prime minister has very few friends here. trust in his government is at an all-time low following months of backtracking and insults. after 15 hours of arguments, he and the hard-line german chancellor reached an impasse. the two leaders threatened to walk out. pulled back from the brink, a weary looking chancellor merkel said she's on board with the greek deal. chancellor merkel: the situation is tense. it's in everyone's interest to make the next steps work. if the greek parliament does its bed, trust can be regained. reporter: but the conditions are harsh -- the premised are promised an end to creditor invoked humiliation and noted he would struggle to sell this deal at home. prime minister tsipras: we have avoided collapse of the financial system. we far -- we fought as hard as we could. reporter: so what next? to rebuild trust degree government is expected to pass pension reforms this week. eurozone finance ministers are working on an inter

are now lobbying greece to leave the eurozone. france does not believe that is the best solution, but it's now up to alexis tsipras to show his partners that he has a plan for greece and that greece will -- will reform itself and that it is worth for europe to invest in the country. anchor: thank you. with us in studio is our business editor. let's look at the markets. they reacted pretty poorly today. stephen: we will start with the currency markets. the value of the euro is an important one to watch. it gives a global picture about how the strength of the eurozone is being perceived. the euro-dollar is down about 1/4 of 1%. we saw the losses being pared when the announcement was made that young's first practice -- that yanis varoufakis was resigning. the stock market has seen sharp falls at the open across the board in europe. those losses have been reduced slightly as the trading day has gone on. a similar picture in madrid and malone. london -- and milan. london trading down just slightly. we had seen some of the italian banks

from the eurozone, or have they given up hope? >> the big question is, what will this bring? the referendum has allowed the people to express their resentment, yet they will still bring back this package of cuts and tax hikes. it remains to be seen. the atm issue is quite a big disturbance, and they are hoping for the best, but they know that the prime minister -- they're trying to understand what exactly is happening what that's what proposal is being put forward, what measures are being rejected, and who is doing what. i think they're all looking at german chancellor angela merkel as their only salvation because they know very well that europeans are getting exasperated by the minute. political analysts have been wondering if this is all an orchestrated attack to punish greece and they're not really interested in the economy ever rebounding, but just making it an example for the rest of the eurozone. >> historically, extremism has flourished in times of economic hardship. what is the risk that that will happen in greece? is ther

and remain in the eurozone. and our duty was to allow it to do so to inning sure that it is a choice that gives it a solution, nothing would have been worse than to maintain it in a monetary zone and not give it the conditions for its development. and that is the reason why today there has been long negotiations because if greece had been left the eurozone, come out of the eurozone what would people have said the eurozone is not capable to insure its solidarity, integrity. we have said to the greeks are not capable of taking up their own responsibilities what would sweep france and germany who have the vocation that we would not be up to the task. that the europe would sink. europe must provide a project that supports, supports its people. it's the countries which are participants in this monetary zone what would we have said of the dislocation of the great idea. so it was necessary to succeed and building what concerns me personally, i wanted us to succeed, to be able to suck seed, to have an agreement. succeed

, is this a germany solo eurozone?the idea of a french flexibility and compromise. they are working out of self interest. that they have a different kind of idea with the southern european countries, then germany and other neighbors. this is it where the rubber meets the road. german type of arrangement, not suitable, we know this now, not necessarily suitable for countries like greece who have a political party that want to paddle in a different direction. german -- they ats before,ent -- sp france and germany, and they patched them of. this could be a sort of french and german agreement to lead from the front. this potentially looks like a moment in europe's history when bad things could happen if this develops into an open unit. joe: you said earlier that greece would be unlikely to fly if they left the eurozone, but i'm curious how will it ever thrive in the eurozone? how can they actually be a robust economy? >> it's a small economy without manufacturing. they do have terrorism, tourists from turkey and others, bu

restructuring the eurozone may not be easily done >>> right. the top mexican drug lord elcapo has escaped from a maximum security prison. this is the second time he's done it and his capture in 2014 was hailed as one of the biggest blows to the drug trade in decades. at least one airport has been shut as the hunt for one of the most wanted men gets under way. gooseman escaped in 2001. he hid in a launty basket after bribing prison officials. joining me from london is alberto, the c.e.o. of mex con consultancy firm risk evaluation. he hid in a laundry basket and there was a bit of corruption inside. do you think this is a case this time around as well. >> yes, hello. this time i think it was part of the piece of the mexican grievous bodily harment much it was a long blow. some have to stop him. we have to state in this is not the same as what he escaped in the past. that was in the pacific coast of mexico. this is what they escaped from. it's about 60km from the capital. no one would escape this before the united states harassed for his ex-bed e

you are better -- >> the eurozone. >> but even the eurozone, look at the baltic states. look at the netherlands, for example, austria. these are success stories! look at ireland. for years and years and years. spain, right now they have the fastest economy growth within europe. >> but in all these countries also there is still the problem of unemployment. and youth unemployment remains a huge problem. it does seem to me, faye -- i'll ask you about this -- it does seem to me that there is a lot of talk about figures from an economic point of view that actually leaves the human being out of the center of what economics is about. how concretely do people in greece actually feel about the situation? i mean we see pictures quite often that are not -- that are really quite surprising because it seems as though life is quite normal in greece in many ways, from the pictures we see in germany. but when i read, for example that the lowest pension in greece is 300 euros a month and these pensions are supporting sometimes members of the family that are ununemployed, that -- unemploy

no more greece in the eurozone. but that would mean that europe is going backwards and not going forwards anymore and i don't want that. >> reporter: the partnership between germany and france is absolutely essential to the eurozone and the european union as a whole. so the rift between them over greece could potentially have far-reaching consequences. there have already been marathon talks between eurozone finance ministers on saturday and on sunday. those negotiations were difficult, and at times ill-tim ill-tempered. and no reason why the talks between heads of government any easier. these are talks about starting more negotiations for a bailout for greece. there will be more difficult and painful decisions for the greeks before they see any new money. >> and jacky is joining us live from brussels. brussels has been leaking like a sieve. because journalists have been able to see exactly what is in it. >> reporter: yes exactly. i was just mentioning there in my report the difficult and painful decisions the greeks

eurozone finance ministers are due to review talks for bailout of greece. hello this is al jazeera live from doha. coming up on the program. held without charge. israel frees palestinian prisoner after a 55 day hunger strike. >>> the u.n. says some of libya's warring factions have agreed on a draft peace deal but the legally installed be tripply government was absent. tripp liz government was and. tripp liztripoligovernment was absent. >>> less than 24 hours now to convince creditors that it can be trusted to enact promised reforms and secure that third bailout. in an apparent you turn, backing a package of reform and further austerity measures in a last ditch attempt to stay in the eurozone. athens has asked for 54 billion tobut analysts believe it needs much more. they do blame grease for a breakdown in trust after it failed to implement earlier promises. the new loan would be in addition to the 240 billion eurozone that it has already received from its creditors since 2010. simon mcgregor wood reports from athens on a difficult day of talks. >> after nin

or to speak clearly there's a greece in the eurozone, or no greece in the eurozone that would mean europe is going backwards, not forwards and i don't want that. >> reporter: the partnership between greek and france is important. the risk over greece could have far-reaching consequences. there's already been marathon talks between eurozone finance minister on seat and on sunday -- saturday and on sunday. those negotiations were difficult and at times ill tempered. there's no reason to think the meeting under way between heads of government will be easier. these talks are about staffing formal negotiations for a new bailout for greece. there'll be a difficult and painful decision before they see any new money. >>> let's go live to brussels, and speak to neave barker. from what we understand the eurozone leaders have been meeting. do we know what came out of that meeting, what is going on. what is the latest? >> you are right, we are preaching roughly about 20 hours of negotiations over two days starting with eurozone finance minister, that begone on saturday, and -- began on saturday and c

. >> greece has until sunday to come up with reform proposals or face an exit from the eurozone. hello, welcome to jazz sh live from doha. also ahead - hundreds of companies stop trading on china's leading stock exchanges to cut recent losses. as differences persist, negotiators extend talks over the iran nuclear programme until friday to reach a deal. and from beekeepers to doctors. how immigrants in us are filling jobs that can't be filmed by locals. >>> european leaders have given greece until sunday to secure a deal. another meeting a planned with all 28 e.u. members in five day's time trying to work out a last-ditch solution. greece is optimistic, he is committed to finding a viable agreement to overcome the crisis and the european central bank said it will keep greek banks afloat as long as it needs it. >> reporter: after many hours of meetings, and the customary dinner european leaders gave their verdict. greece had not told them what they wanted to hear. >> we had a long and intensive discussion, in summary, after the deliberations, the preconditions of the resumption of

this is a concern shared across the eurozone. on the other hand they hold out hope that solidarity will prevail at the end of the day, and the eurozone will not be diminished. >> thank you for that update from athens. >> if eurozone leaders agree on a bailout for greece, much of the burden will fall on germany. the country is greece's largest creditor, and the perimeter would have to approve any deal made. many germans don't support the bailout. >> french and german students repair a landmark. this sign is a sign of a single currency. it had to survive all weathers and for the students they feel they have to prepare more than a monument. >> it's our currency and symbol. it represents the country. it's important to take care of it. looking after the monument is our way of representing the unity at the heart of the country. >> border trade helped to prosper. skyscrapers vie with each other for pride of face in the banking district. frankfurt has been seen as the financial capital of germany, a business-friendly germany, it has the

potentially the future of the eurozone. the message of know has been sent very strongly to brussels that the question is now what happens. the head of the eurozone finance ministers of the greek about a very regrettable decision. germany had said about alexis tsipras, the greek prime minister, that he burned the last bridge of compromise. these don't point to further negotiations. the biggest issue is greek banks and how long can they last before they run out of cash in the people of greece are unable to get any money. we are close to the point. the greek government says they can muster the end of the week. other reports say ours. some people trying to get an atm cards that they can get access to the very conservative things to collapse saving will go with them. the question is certainly a hot day here in is. mid 90s but did he really felt in brussels and frankfurt and certainly in berlin. the words you hear the phrase you hear is to restructure our debt relief. imf says greece needs a paint the question is can the e.u. bit

and we will manage to keep the country in the eurozone.e'll try to do is improve the terms of the bailout and that is what they have been trying to do. to a certain extent, some of the arguments they have been using is correct in the economic sense. i fear that partly because of the attitude of the minister of finance besides on the attitude. partly because of the intransigence of the other side, mr. tsipras has been alienating more people than he has been allying with amongst those who matter, make decisions. there is no doubt in my mind that the program is here partly because of addressing causes of the crisis. the consolation of power in a hands of a small number of people. it is not out of my mind that all of these will cause unrest. the government has made another tax moment because not that there is a new market. anchor: thank you so much for sharing that with us. thank you very much again for speaking to us. that is the scene there this evening. something of a carnival atmosphere. we had the prime minister alexis tsipras speaking a

the meeting of eurozone finance minister was then taken over, of course, by how eurozone leaders who finally early this morning came up with that agreement and an agreement that perhaps the greeks a week ago never expected they would actually want to sign up to. so there is perhaps some deep concern among some eurozone countries that maybe within 72 hours we could possibly go back to the drawing board once more. >> thank you very much. >> iraqi government says it's making gains against isil as part of a new military offensive in anbar province. shia militias are all taking part in the organization to retake iraq's largest province from isil fighters. [ gunfire ] >> the announcement came early on among morning. the military spokesman said security forces were beginning a new operation to defeat isil fighters. >> the military operation began at 5:00 this morning. our armed forces along with shia militias, special forces federal applies are now advancing towards the targets. [ explosions ] >> military operations have been continuing in anbar for months, but predominantly have been conce

it's about the future of our common construction, the eurozone and europe. and conflicting strategies about european union vacation come face-to-face -- unification come face-to-face here. i want to make this clear. we have ideological differences. we are divided on issues, but this is a crucial time for us to be able to prove our forces. all of the political forces in greece came around -- their leaders came around the same table and we came up with a framework on the basis of which we are going to come up with some very specific proposals for a fair and sustainable solution, which will bring about fair reforms as well. to conclude, i would like to make the following -- a lot of people were talking about "greek tragedy." well, i respect the laws which govern the european union and the eurozone. we cannot proceed without laws. but you were talking about "greek tragedy go -- tragedy," one of the most important ones was sophocles, who wrote "antigone." there was a time when the greatest law of all human laws is justice for human beings, and i think that is som

what does this crisis mean for the future of the eurozone? is the common currency still irrevocable? or was it a bad idea from the start? >> and companies are headed to brooklyn. we were teaming up with two of new york's biggest real estate developers to make a home at the brooklyn navy yard. brendan: i am brendan greeley. pimm: and i am pimm fox. let's find out how markets are trading right now. the s&p 500 adding nearly 1%, up 18 points. the pricebidding up of stocks, as well as bidding up the price of the euro. take a look at the dow jones industrial average, a gain of more than 1%. brendan: rallies in the european stock indexes are more hesitant than what is happening here. here, once the risk is off, we can go ahead and party. a lot of hesitance. pimm: the euro, where are we? brendan: i would describe this as nonplussed the -- nonplussedness in the euro. we did not get the pop i would expect. pimm: nonplussedness? brendan: a technical term, clearly. have yeth greece, we to reach a deal. alexis tsipras agreeing to creditors demands. now h

go from the eurozone or should the eurozone cut greece loose?e tragedy is in order to for the eurozone to survive there needs to be minimal great on fiscal policies, on lots of policies, and the greek government under any stretch is outside that consensus. that's the tragedy. in order to preserve the eurozone we will seek unless mr. tsipras pulls one more rabbit out of the hat which is unless he comes up with a unit government saying this is no longer about politics, we're in this together a low probability but that's his last card. >> ifill: paul krugman, is there a rabbit to be pulled out of the hat? >> the unit has had a series of community governments. it has done 90%, 95% of what it's been told and the results have been catastrophic. that's the demand. once again the current greek government sacrificed its own principals, go back on what it promised the electorate, this time it will likely work -- well, i don't think you can blame greece if that's the consequence of what happens. >> ifill: thank you both very much. >> thank you. >> woodruff

they want us to have a eurozone intact at the end of the day. if it leads toid even weaker eurozone where everybody can blackmail each other after a wild -- while whenever it becomes tougher on the negotiation table, this eurozone is not going to prevail with the next decade to come. alix: part of the rhetoric that emerged has been a lot of heat on germany. i want to play a sound bite from prime minister alexis tsipras. thee minister tsipras: result of the euro summit and result of the eurogroup was a result stemming from pressure put on a country and put on a who are decided in a democratic way. alix: he does not name germany, but you can understand that is the application. you can understand a split between berlin and paris. what do you thing about that? how do you manage the kind of reputation? minister guttenberg: germany helped grease out at the end of the day. there were a lot of talks about , and at thegrexit end, germany gave a solution and offered a solution. if it was wise or not is another thing, but now it is come to say there's a lo

had greece left the eurozone it would have been said that the eurozone was not capable of committeeing its integrity or integrity. and we wouldn't have assumed the responsibility. what about france and germany? it would have been said that we were not capable of giving this impulse. we are to carry a product protecting people. the euro protects countries that are part and parcel of this monetary zone. so what about -- what would. >> reporter: said-- what would have been said about this dislocation as far as we're concerned. i wanted to bring this discussion to a successful outcome and offer to greece what they were expecting. stick to the european constrict, friendship between france and germany, in other words, succeed in opening a new era in the european construction because we shall have to strengthen this monetary space. we shall have to see to it that we are respected, protected, but also allow for more growth. this is the very task for us all in the coming days and months. it took a lot of time but it was a positive night for europe and a positive morning. i shall take some quest

thee warn greeks that a no vote could mean crashing out of the eurozone. here is what alexis tsipras said as he cast his vote earlier at a polling station. >> translation: the greek people send a message of dignity and decisiveness. they can ignore the will of the government. no one can ignore the will of the nation to win. to live with decisiveness takes it into their hands. >> the people win. the propagation of fear - i am sure form we'll open a road to all the nations of europe. >> the leader of the main opposition party voted. the former prime minister is urging greeks to vote yes, and support the bailout. >> translation: today we greeks decide on the fate of our company, we vote yes for greeks. >> john psaropoulos joins us to tell us whether there's a sign on which destruction the vote is headed and what the mood is in athens. you will >> reporter: there are no conclusive opinion follows to give us a desize ipicture of where the vote will go. i would say look at this in terms of the popular vote dating back to the january general election. what do you

pushing themselves out of greek eurozone. the reality is if the sector becomes insolvent or not in a to open on tuesday of next week, and the credit is very high, and people are not in a position to import goods and services, naturally they could come to a point where they have no choice but to restart and recapitalizing banks and introducing their own currency. but there are some more uncertain issues you have to carefully watched in the next couple of days and weeks. angie: very quickly, how critical is that july 20 date, the deadline were greece has to have a payment for ecb bonds? guest: it is important in a sense that it obviously -- if vote for authorities 3.5 billion euros, naturally the banks is completely insolvent and against the greek government. process fast-track be of greek exit. angie: thank you so much for joining us. next, coverage of the greek people's rejection of europe's bailout continues. stay with us. you are watching bloomber angie: it is 2:30 in the morning and offense. these are live pictures after t

the future of grease as well as for the whole eurozone.reece's most important supporter is france. the french have dismissed an idea floated by german that greece could take time out from the euro. >> there is no temporary grexit. there is a grexit or none or to be more clear, there is a greece in the eurozone or not. >> would mean europe is going backwards and not going forwards anymore. i don't want that. >> the partnership between germany and france is absolutely central to the eurozone and the mean union as a whole. the risk between them over greece could have far reecing consequences. >> there have been marathon talks between eurozone finance ministers on saturday and on sunday. those negotiations were difficult and, at times, ill--tempered. there is no reason to think that the meeting currently underway between his of government will be any easier. these talks are only about starting formal negotiations for a new bail-out for grease. there will be nor -- there will be more difficult and painful decisions for the greeks before they se

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. >>

to leave the eurozone but remain in the european union.al experts suggest that only way to leave the eurozone is to leave the european union. it is very complicated. >> the fate of greece's economy is essentially in greeks hands and cnn has asked greeks whether they plan to vote yes or no today. >> i am in europe. i want to stay in europe. >> i believe there's no solution within the eurozone and within this european union. i'm sure about this. >> hopefully next sunday we are going to vote yes because we want to remain in the european union. >> i came here to say no because i'm here and i cannot leave. >> they are trying to play the future of greece in cards. we do not want to have our future played in cards. >> no no no! >> i want to believe that they will vote even in the last minute they will think of that and they will vote for yes because the majority believes in the euro and it believes in the eurozone. >> because we have a government and we want this greek government to make the decision. not the people of euro group. >> the only fut

eurozone finance minister knew about the i.m.f.'s views before striking the latest deals. there's no appetite for taking a hair cut on greece's debts. >> there are voices within the eurozone. certain countries are ready to consider relief. there could be longer mat urties for greece's loans and a bit lower interest rates, and other financial ways to make the deal sustainable. there'll be other locations making the agreement last win three or four weeks. i.m.f. is a co-creditor of greece. there'll be time, three or four weeks, to discuss sustainability. >> could it be that the i.m.f. is playing tough, that greece's debts are unsustainable in the long term, and may well once it goes through the greek parliament, perhaps relax their stance a little later down the line. >> we hope so, because there is also legal restrictions in the european stability mechanism as well, which cannot loan to countries with unsustainable debt. in the next two weeks, together with a reform plan for greece, there'll be serious discussions between the eurozon

members warn that a no vote could mean coming out of the eurozone. here is what alexis tsipras said as he cast his ballot at a polling station in athens. >> the greek people send a strong message, a message of dignity. no one can ignore the nation to live. to live into desize iness. -- decisiveness. i am sure tomorrow we'll open a role for all the nations of europe >>> and the leader of the conservative opposition party voted. the former prime minister urges greeks to vote yes and support the bailout. >> translation: today we greeks decide on the fate of our company, we vote yes for greeks. we vote yes to europe >>> we have our correspondent john psaropoulos in athens and hoda abdel-hamid in the second largest city. let's start with you, john greece divided by this referendum. tell us what is at stake here. >> well hello. greece is poised on a precipe because upon the outcome of this referendum we are led to understand that the health of banking system whether it will be funded by the european central bang or whether it dips into it in order to save

that just insurance there is no demand across the eurozone period. when i bring this up with my contacts in the german government and point out that actually germany is not growing much either so this approach isn't really working out for germany am they sort of look at me like i have 40 heads and say growth is an anglo sackson obsession. who needs growth if you have low unemployment and a balanced budget. so unfortunately i don't think that approach will change but it certainly would help. >> rose: so you have been in china talking about chinese markets, i assume. and what they might do about that. but how do they view this? >> well, it's interesting. >> rose: with debt crisis. >> europe doesn't really play very significantly in china right now. it's far afield. it is-- . >> rose: a lot of natural resources. >> they don't have a lot of experience. if you talk to the russians if you talk to the russians they look at europe every day and say aha! there is a dynamic where they could play and drive these guy as part. >> rose: because everything they do

he said that despite the vote he believes that greece can stay in the eurozone. david sweat who spent three weeks on the run. sweat was shot twice when officers recaptured him last week. he was released sunday morning and transferred to a correctional facility in up state new york. matt was shot and killed by the police during the manhunt. >>> a train derailed last week dead fish have started showing up in a vehicle near knoxville where a train carrying toxic chemicals went off the tracks and caught fire wednesday lead to go mass evacuations. officials are conducting tests and urging the public to avoid any contact with the fish. >>> the confederate flag is up for debate again in south carolina. the state legislature will zeus what to do with the flag. it cannot be taken down unless two-thirds of legislators agree. many in the state and around the country want it removed after nine people were shot and killed at an ame church in charleston. the suspect used the flag as a symbol. >>> in the annals of racing there are few places as historic as the dayton in a natio

and the eurozone is a political animal.ot the political class a sufficient understanding of the economic necessities for making it work. >> in the years that followed euro membership greeks borrowed more than was allowed under the rules. by 2004 it was more than double the limit at 7.5%. it was 9.9% in 2008. the year that the financial crisis hit. by then lenders were worried and they were right to be so. then came a bombshell, athens confessed it had been lying about the true scale of these numbers. in 2010 when the costs of borrowing became unsustainable, europe and the imf rose to athens' rescue. this was bailout number one. >> what will remain of europe if the euro disappears? what will remain of europe if its economic heart collapses? nothing. >> but this wasn't easy money. the lenders demanded tax increases and spending cuts to balance the books. the economy stuttered and the debt mountain remained. but in 2012 bailout number two included debt relief. >> they got it late and probably too late. the europeans have not b

some eurozone leaders are not so sure.lexis tsipras has told creditors he is willing to accept their proposals as the basis for a deal, but he has some sticking points over such things as pensions and sales tax reform. schatzker is in athens with the latest. is this a real proposal, just a proposal for european leaders, media -- what is alexis tsipra'' plan? says this is what tsipras he would be willing to accept. what the europeans are saying is that the time to negotiate has gone.nd gone during -- there was room to negotiate until the previous bailout expired last night. now the europeans want to see the results of the referendum scheduled for sunday. you have heard that from angela merkel in germany, and who holds the most power in this situation? draghi,tween merkel and but she pretty much speaks for the europeans. wanted them to believe he was ready to sit down and negotiate in good faith. stephanie: we are sitting here saying we are getting a different tone out of tsipras, we are seeing market response. are people on

that's true if they're not going to exit the eurozone.eads to an exit of the eurozone, that statement may not be true. it's an interesting that the the rest of europe may be split, the financial times is reporting some comment from the french president hollande? leon saying they should reach an agreement. let's do it now before the referendum. there is some discussion, you have the eurozone finance ministers on a teleconference to consider the greek proposal which they have to do playing it by the book, seeing what they come up with. thanks, simon. >> when we come back, a good day for the markets, after strong economic data and optimism out of greece, that are where we are on the bipoll ar swing. art cashin will join us next. when i started at the shelter, i noticed benny right away. i just had to adopt him. he's older so he needs my help all day. when my back pain flared up we both felt it i took tylenol at first but i had to take 6 pills to get through the day. then my friend said "try aleve". just two pills, all day. and now, i'm back

you work in the eurozone with the sovereignty and the democratic process of the country in the eurozone is in many ways put under question marks. >> the french president francois hollande said nothing could be worse than humiliating greece. you are say they are hugh mail humiliated. he said it's important that greece stay in the euro. do you think what he was saying is they couldn't risk the european project? >> well, yes they couldn't risk the european project. but as of this past weekend the european project is not the same anymore. this is not only damaging for the greek prime minister it's also damaging for the vision of the eurozone. the single currency as being a ube filing instrument. from what we have seen and heard over the past weekend the euro is starting to divide europe. not unify it. >> what do you think will happen next? there are these various funds put in to place immediate work going onto get the liquidity flowing. long-term do you think something positive will come out of this? >> time will tell in the past years we have not seen many positives when we had other gover

eurozone finance minister are meeting to discuss the latest bailout proposal. the greek government has less than 24 hours that it can conduct proper reforms and bail out. the prominent prime minister has been freed. launched a hunger strike in april, lasting 55 days. >> also, the u.s. secretary of state john kerry and a senior iranian official say a nuclear official between iran and world powers is if within reach on sunday. some sides made progress, but they are blaming each other for stumbling blocks >>> u.n. says some of libya's warring factions agreed on the framework for a peace deal after months of talks. one of libya's rival governments rejected the deal. >> reporter: in a much anticipated ceremony, rival factions in libya signed an agreement. a sixth meeting over a fourth draft. the u.n. envoy sees it is as a breakthrough towards a binding deal. >> i want to emphasise and enhance this message - the door is open for those that are not present. they have played a critical role in the text. as i have said many times, there's no text that is entirely satisf

i'm sure that she would want to see greece remain the eurozone.ek people want to remain within the eurozone. this is maybe the peculiar contradiction. the greek people when they voted no, the majority felt this was not a vote to leave the eurozone. it was simply a negotiating tactic which was what the argument -- the alkmentrgument of the prime minister actually said. they do not feel that this is going to kick them out of the euro. both sides actually do want to have greeks remain within the euro. i think that -- if there is a common will there should be a common way. >> we've seen the will before. i know you are going back to athens. your money in the greek banks zp. >> my money is in the greek banks. it is. >> it's staying there. >> well, you can't pull it out now anyway. that's one of the problems we have to deal with, the banking system. get liquidity into the banks and restart the greek economy. >> had you moved your money away from greece in the events leading up to this? >> no i didn't. >> should prime minister tsipras step down to help th

we will get a clear picture when eurozone meters -- leaders meet.or the president of the eurogroup, sunday's referendum doesn't bring a resolution -- a resolution any closer. >> this doesn't bring us any closer to a resolution. it only makes things difficult. we will discuss this in the dutch parliament and tomorrow we will meet at a summit in brussels. we will see we can go through the step-by-step, but it will be a bit more difficult. grease must take difficult measures otherwise the government won't function and the economy won't work. and if the government and people reject difficult measures, they are going to get into a very difficult situation. delano: after varoufakis quit, a lot of people on twitter have said it's time for the man who hindered prospered -- progress from happening should go. angela merkel has been saying all the while that we need the eurozone finance leaders to first agree on something and then you can have a political decision. greeks tomorrow will come back with proposals. but it is those from the imf and the ecb who have

charlie: let's assume they exit the eurozone.hat happens to their membership in the european union? >> they still have very significant debts in the euro denominated. they would expect the economy would contract a further 20% over the six-month, down the 26% they have already attracted. they are not in export driven economy. it is absolutely devastating for greece at least in the near term. let's keep in mind tsipras has said very strongly and has been backed up on this internationally, that the no vote was not about the grexit. it was about the austerity being placed in front of them. that was something a week ago that no one was prepared to accept and today, not only to all the greek people accept it but a lot of international communities are saying that is a reasonable position to take. charlie: austerity limits the path that would grow. ian: this is why the imf report is very important. what had been turning toward yes, tsipras gives big speech in greece. the imf says they would not support a bailout. charlie: will the greeks

officials warned greece could be ejected from the eurozone.me minister singh burress hailed the result as a brave choice and also said greece would go back to the negotiating table. megan

news of agreement means greece will stay out the bankruptcy and in the eurozone. that is easing fears. stocks higher in asia. the stocks seem to be pulling back from the brink. the shanghai composite up 2.4% today. >>> oil prices diving. crude oil is down 2% as iran and global hourpowers hit close to a deal. iran has the fourth largest oil reserve in the world. if a deal is reached, it could add more oil per day. bad news for oil companies, but great news if you are driving. the national average today is $2.77 a gallon. that could fall to $2 a gallon later this year. >>> starbucks making a push to hire minority workers. they pledged to hire 1,000 16 to 24-year-olds. it is part of an effort to fight youth unemployment problem. 5.6 million young people are not going to school and not working at the moment. that is disturbing. >>> early start continues right now. breaking news this morning. leaders indicate there has been a deal reached in the greek debt negotiations. the latest on the massive bailout. we are live in athens with the latest. >>> happening now. iran an