greece's $4.2 billion bond sale.we will look at the significance and the timing of this country's return to the international bond market. ♪] >> greece pulled off a successful bond sale this week, selling more than $4 billion worth of five-year bonds. it marks the end of greece's exile from the international markets. economics at the nyu stern school of business and cal berkeley joins us from our san francisco bureau. welcome back to "bottom line." >> good to be here. back in february, you propose to that greece consider a bond sale before the european election. why did you think the timing was right for a sale and what is bringing buyers back to greece's debt? >> it is a matter of comparison between the interest rates that other european countries -- even portugal, which was to a large extent in a similar situation to greece -- and a way to go around the restrictive program that has been imposed by creditors on greece. , the eu, imf, and ecb, have imposed the program on greece. at the same time, the amount of funds

looking at greece now? is not. investors started looking at greece and were initially optimistic -- opportunistic. it was the only type of investor group that would look at a country with the uniqueness of greece at the time. as things are evolving, and it looks like greece will come back to growth this year and some normality,adi -- we're seeing normality in the market. the market has been downgraded into an emerging market and writerly emerging market funds are looking at it. it is still mostly hedge funds that are looking at greece, but it will take time. there will be three elements that completed. one is the return to growth. and capitalquidity raised by the banks. emergingtime for markets funds to reeducate himself about a new market like greece. >> it is interesting to see the slight change in the profile of the investments and what they're looking for. one of the other interesting things is if you look at the capitol issues made last week by anks, you get a sense that there is an optimism about gree

guy, he is one of the leading industrialists and greece. in greece. companies have made profits throughout the greek crisis. his holding companies in -- is in that his holding company is in aluminum and energy. greekoptimistic about the economy. he says the greek economy will go back into a recovery and start growing again this year. what is your sense of what is going on in the economy right now question mark box welcome to athens, david -- right now? , david.me to athens it is the first day of spring. welcome. he is an optimist and he is right. finally, things are turning and changing. we can now look forward to better days stop >> you're telling me this -- better days. once you are telling me this -- this.'re telling in thime there seems to be a gap between what ordinary greeks are experiencing and what you are seeing. >> you see the micro numbers. you see the economy on the street. there is no doubt. the macro figures are better. of theonic problems fiscal deficits and the current account deficits have now become a surplus. both the fiscal and cur

greece is getting back in the bond market. >> some people think that of greece gets back to the bond of the financial crisis. not according to angela merkel. she is concerned about inflation. it looks like books will open tomorrow morning at 9:00 a.m. london time. who was going to buy? what are they going to pay? >> a couple of minutes away from that, thank you. it is it for "the pulse." " isbloomberg surveillance coming up. it live from new york. tom keene will take you ♪ through the rest of the morning. ♪ >> this is "bloomberg surveillance." >> toyota joins general motors and a massive recall -- in a massive recall. it is a market in search of direction. we speak to an optimist. forget twitter, you should on quality stocks. hotels and motels, they enjoy an ipo frienzy. good morning, everyone. we are live from our world headquarters in new york. scarlet fu and erik schatzker. >> this is the stuff that happened overnight that you need to know now. the british trade deficit narrowed on a slide in aircraft imports. sweden raised its gdp outlook, predicting a balanced budget by 2016. ec

is getting some greece. anyway i feel i am for myself so agrees that it's the first bond sale in four years and it raised three billion euro zone people are hailing this as a triumph now greece is back bet it that's for sure a strong demand has pushed the interest rate on the greek five year bond to four point nine five percent which is lower than expected now the greek government is optimistic about the future and the guardian reports that the deputy prime minister evangelist benny zelo said quote we haven't just been spared from bankruptcy and catastrophe we are once again becoming the greece that we know so edward what are the details behind this auction and what were you except what were they expecting and when they get well the interesting part is that i think before that we're going to rush to market we're not in a hurry to do this deal and i just basically meant by that is that we we don't need to get it out the door next week because it was already some rumor that was going to come out but there was

greece. on greece is onher track. -- we're going to have the best possible result.ybe outside investors say that, but what about the unemployed guy in the street who is relying on his grandmother's pension which is being cut to just get by. how do you stop that silent crisis from coming -- turning into a crisis for the economy and seeing people leave the country because they cannot find work. >> you raise a very important issue. that indicesnt start to improve until the moment that people feel it in their pocket, there is a time lag and this is an important time lag. where the argument has to be presented clearly to the people. and here we should talk openly to people. --should not let population populism stepping in. we have explained that greece has done so much so the country can be saved. more than 85, 80% innocently --id adjustment has been made. we can face a future with much more optimism. >> david tweed spoke with the former prime minister about what greece needs to do in order to keep moving forward. >> i think we need to -- it is a strongre right -- consti

he's become the largest opposition force in greece this time. you running only european level across europe defending representing the european left not seen in sixty seconds. how would you define yourself and the ideas you're defending the states the next it was this crucial combine the struggling greens that we can calling for a complete dinner before falling for use of surveillance thirty the struggle in the rest of your. when he was trained to think it's quite obvious that the ministry all the way down to the left wing governments cuts will come to how increase in the months to the needs and wants to succeed. change the balance of power in your neck. this is essential. if we're going to change the strategy the world to them and for the austerity policies to fail. the school's new policies based on accounting bodies of your soul with our key to democracy and social cohesion e g economic eastman she didn't know. now you may come across as you can do that but this out. for those struggling spanish and greek workers. while other day the brits or

that the but, the model for greece.e of them really growth and create for the economy to start moving. i asked tommy about the entrepreneurs were driving the companies. about the me entrepreneurs who are driving the companies. oldhose who follow the models will do the new kind of entrepreneurs are similar to international. these are guys who are more extroverted. they have worked abroad before. they understand the business game is the world and not agrees. >> what kind of companies are starting? >> more than half, he is technology. this is of course a normal because it is easier compared to traditional companies. inare also seeing companies food or tourism. these are the companies that are receiving funds. >> more buyer the traditional -- more about the traditional versus startup. the roadblock. explain that. >> compared to a few years ago -- >> just one day. >> our hope is one day. obstacles after the company start. when you want to operate or launch a new factory, it is still not there yet. >> if you start a company a

greece may be off to a good start but the road to recovery is still on. athens has received more than two hundred billion euros in loans to spiraling into recession four years ago well with grace has returned to the bond market held by many as the milestone appetite for the bonds with her sister are crisp on and on and this explains why there is such heavy demand for greek debt. mrs were very keen for this to become fond of course if you go from about five percent this is an attractive investment. given that the u k interest rates generally paid at the moment i barely know. now the question here at the exchange of course is what's next for greece with the election guarantees unstable political situation in peace and of course with new jobs be created something that the country desperately needs for the economy to get better and so that some of this money which is now going to be swollen so i reach the people that. reporting from the king four in frankfurt but let's take a look now at the numbers in detail on disappointing numbers from france and italy dra

this new greece is now a reality. >>> chancellor merkel's visit comes a day after greece returned from international bond market. it was also good news on the jobs front. the unemployment rate fell from 27.2% in december to 26.7%. but greece certainly isn't out of the woods yet. the money raise by thursday sale of bonds is a drop in the ocean compared to the bailout. the greek economy has shrunk by 25% since 2008. last year it's crippling dead load went up, and salaries have been cut by 30%. john is live for us in athens now, and john, chancellor m mer -- merkel's visit seems to have charged the area, but what is behind the headlines. >> well, it revolves around three things. that there is an acknowledgment of the enormous suffering of the greek people, there is now an acknowledgment of the new situation, the new reality on the ground, and there is a focus on the reforms that lie ahead, on the implementation of laws that have been passed but not yet fully implemented in order to make the economy more competitive and provide more jobs. and the prime minister summarized it by saying we s

from athens in greece. well governments the world over keep people drowning in debt by the policies of financial repression and the idea that max will be exploring in today's edition of the kaiser report you can catch your throughout the day here not seen so much. but the oppression is forced deflation and forced inflation means that you are basically ruining the purchasing power by constantly understating the true rate of inflation while at the same time keeping interest rates artificially low to keep zombie banks alive so that those people running the banks get these huge bonuses but everyone else is being financially repressed to support the bankers and the kleptocrats and so the answer to curing this problem would be to stop the financial repression allow inflation to rise in the sense of allowing interest rates to rise and allowing wages to rise which would then started inflationary cycle and would build capital base genuine capital base of these banks and you'd have genuine wages supporting genuine jo

greece is way too expensive. it has to become cheaper in order to bring its tourism and shipbuilding industries to economic viability. with the euro it would be extremely difficult. we should use turkey's recipe for success. turkey was broke twenty years ago but managed to survive by becoming cheaper for tourists by devaluing its currency things cannot go well for us if our neighbors are in trouble. we have to help the greeks to get out of their dilemma. how long before germany's taxpayers lose patience. germans are saying that they're getting way too much money but saddam germany the country is being criticized for not getting enough. aw come on the economic headache facing greece that's cos life not to eva kylie from the pot european social democrats joining us here in aussie for national grid is seen to date funds for joining us the us the figures from grace of the not exactly spectacular keeping dynamo cool is that accurate or perhaps a bit too optimistic in a healing its recovery will be a thing. but i think

she is not the most popular person in greece. but you will not see anything like the protest we saw that greeted her 18 months ago. one of the reasons why is he 7000seal -- still see police out in the street. all the metros will be locked down. not that much opportunity. and again, things have changed. the code what happened to the 10 year-year-old -- 10 year yield on the bond. now it is around 5.9%. a lot of the anger has come out of the markets as well. angela merkel said we are dealing with problems that have arisen overrt -- decades. it would take a long time to solve these problems. we willeves it will -- see light at the end of the couple -- tunnel. age >> -- the message is there's more work to be done. greece has a long -- a lot to do. an engagement coming from german politicians. the president was there earlier this month. angela merkel. >> we will talk to later. thanks for the moment. and the world bank start their spring meeting in washington. top of the agenda will be risks to the global economy, including the russian

it is now happening in greece. a team to national life in a mosque it would be to deposit a cameo off the break. backing out from the walls. u s faces of the day just to go ahead and visit was of a classical thirty thousand troops. and last is a book written about it. off the eye. they react to situations. once. while the dentist security guards on the dock. go home on wheels. when you have made a direct question. be prepared for a change. when you throw a punch him in a row. speaks i let out. the defendant's costs. i am during spring now i need to. are we is you the room. the site. and as you get down halfway through the shampoo bottle or a quarter to quarter to keep the water and that i respect that. now the us dollar has been world reserve currency for decades but it is losing its efficacy. she lands globalg system through them i don't drink but showed good job. so they keep adding more kind of watching these and other accounting tricks to try to keep it going. but it is all that is and is not really fit for pur

david, you've been in it out of greece.ast time she was there, she viciousted in a fairly way. there were effigies being burned. time? it going to be this >> there was really quite violent demonstrations against her. you can hear it everywhere in the streets. there.r then when i was i was there last week. the atmosphere feels like different. not withstanding the car bomb that went off. i am not sure that is the case. --need to find out who out was behind that car bomb. will be pretty much the same it. that is it you can't fix a problem like reese overnight. you have to do a lot of hard work. she is conscious of the fact that you have high unemployment at only 7.5%. it is way too high. look at the numbers they came out and maybe they had peaked. she arrives at 3:00, she will be talking to small business companies and some start up companies. show something in her suitcase in the form of an announcement of a development bank. this may be psychologically quite important to be able to develop -- announced something. >> it seems

greece has been reclassified as an emerging market. that opens it up to a wider investor base, although i think that does injustice to other emerging markets. other emerging markets have much stronger fundamentals. >> always good to see you. meanwhile, suspected car bombs exploded outside a bank of greece building in central athens early this morning. there were no reported injuries after the attack which comes on the eve a visit by the german chancellor angela merkel. ireland will also be auctioning off long-term debt today. the ntma will hold a sale of ten-year paper with results due in around an hour. >>> recent personnel shake-up at the bank of england might make the outlook for this year's policy more uncertain. with unemployment above the threshold and with inflation falling, consensus is for no change at today's meeting. what will the focus be on this meeti meeting? >> ross, the weather is sunny outside the bank of england and sunny for the uk economy. earlier in the week we had had the four consecutive upgrade from the imf abou

greece hooz now ended a four-year exile from bond markets.t has issued 5-year bonds which has raised money. there have been suggestions that perhaps germany is softening up on greece. what is the feeling there? >> well, that's definitely something -- an impression that might be given. when you look at the good public relations sequence that the greek government has built up over the last two weeks. last week they got approval in effect for the greek claim to have created a 2.9 billion euro surplus. this week they sold their first bond after four years, and they are crowning it now with the presence of the german chancellor in athens. it's very successfully done. it has created the impression that perhaps some people are going to treat this as the end of the road for the tough greek adjustment program. i think that's the last thick the germans would like to see. i think there is an inherent position the more substantial recovery concerning the competitiveness of its economy. because there is a temptation here that the greek government may now

greece, a sale of five-year bonsd could be worth 2 billion euros.or an exclusive interview interest u.b.s. wealth management summit, let's get to manus cranny who was standing by in a very sunny davos. is it sunny, manus? >> the sun is just sneaking through just in time for one of our guests, the c.e.o. of wealth management. he joins me now. great to have you with us this morning on "on the move." you travel a great deal. you talk to clients. you the front of this business. what is the biggest issue that is coming to forewhen you have those conversations at times? >> a little bit of how can you help me get access to growth. that is very true all around the globe. for now, with all the uncertainty in the markets, hey think about the markets. >> is it a challenge to convince them to participate? >> yes, umple. a lot of people -- unfortunately. still nearly 30% cash. absolutely, yes. unfortunately, some of them, most of them, have missed the rally into the markets. people are very reluctant. still the risks often lie and may be risk neutral but we have

greece has great potential and is a great investment opportunity.e of political instability is overblown. are rumors in the street that you are planning to step down and start your own political party. that there is only one growth industry in athens right now, political parties. can you categorically say you are not doing that? .> they are simply rumors i think april fools' day is very dangerous. >> one more thing that could potentially help to spur the greek economic recovery? startup incubators. i note is not something that you would normally associate with diplomats, but apparently when the dutch ambassador arrived, he saw opportunity. >> what is this? >> an incubator for young entrepreneurs. 60 young evil from greece and holland have learned how to set up a business. >> but what of the mission of the dutch embassy? where did you get the idea from? thee are doing this as embassy, but together with a number of universities and greek companies. why? we think one of the big challenges is to do something about youth unemployment that might be the ca

in other countries like greece or spain. so when you talk about that. you contemplate benefit immigration. what do you make of the tyrants and i especially think countries like the uk. and even gemini now thinking that what these people move from one country to another. it is unlikely to lead and they go to but then if it's just a good data systems that says states played a pivotal vote as he devoted most of my china and is open to pollution than the uk is nevertheless and the united kingdom that are given to men to spend another two countries which he seems to be conservative in some countries and it might be a gap between reality and the sentinel for labor mobility especially with this and the role of benefits see's something to fill them these demos they can both put them in the states and to get there in order to get the minutes said the new post but i hope all is said that using give it a few seasons but daily i think that this nation. the negotiation if economic performances different social security systems are completely different the employment

greece comes out of exile. the first greek bond sale in four years is opening now. a car bomb reminds investors of the risk. good morning, everybody. you are watching "the pulse." live in london. i'm guy johnson. >> i'm francine lacqua. turns onto tech for racing in the latest running shoes. we take you inside its innovation labs. >> and growing gucci. we're going to speak with the ceo about expanding his key brands. ofthe gucci brand in terms creativity in the key categories is what it should be. we need to work much more on the communication side of the brand. we have been a little bit too much focusing on the products side. this has been done well. >> what a dream shot. by the side of the pool. >> that is how i want to run my business. >> you will hear more later on. >> talking about nice places. all this morning, we are bringing you exclusive interviews from the ubs wealth management summit in davos. manus cranny is there now. what themes are you hearing? theme i have got so far from the morning is fear ye

. >>> is greece ready to dip its toe back in the water? reports suggests the country is eyeing a return to the debt markets as soon as today with its first long-term issue since being bailed out. >>> ratcheting up reforms, the three-year budget gets the go-ahead from his cabinet. manuel wins a confidence vote. >>> and the fed wondering if the market will be rocked today again. it's releasing minutes from last month's meeting. >>> you're watching "worldwide exchange," bringing you business news from around the globe. >>> we'll talk about toyota in just a second. before that, we have news coming out from angela merkel, the german chancellor that is not clear that russia's help to de-escalate the ukraine situation will help ukraine to decide about its own future. and we'll keep our eyes on what's going on with the latest in ukraine. meanwhile, another major car recall, this time from toyota. the japanese automaker is recalling 6.4 million cars worldwide. it makes it one of the biggest recalls to date in the car industry. toyota needs to fix f

david, chancellor merkel is set to visit greece today. she is expecting a little different reception that you got last time. >> could be a little bit at her. -- she'sare a lot more going to meet some smaller start up companies and some medium-size enterprises. handle blatt is reporting she's going to announce the formation of a greek-german development bank. we will be hearing more from david throughout the morning. we'll watch the asian markets as well. stocks fell from a nearly three-month high following the renewed tech selloff in the united states. we also saw chinese inflation stay below the government's 3.5% target. that could be interesting heading into next week. we get gdp numbers from china next week for the first quarter. could that be the weakest quarter of growth for china since 2009? that is something that markets are watching right now. what also they watching? >> selloff in asia and the u.s.. isa going to carry through to europe? we will find out now. we are expect in a lower open here in europe. 3, 2, 1, here it is. , rig

a number of investors are taking on greece and on its capacity to win the game. and after having a game of the two teachers to be in an economy that would be a confidence inspiring sight don't wait for the for the greek economy is a little seed sown with one of caustic soda with a woeful four companies of both the seasonal type of complacency. but tt's is seen bbq station of the fact that you want to have preserved they'll always to include construction. do you think complacency. i would say that we he teased and ut of the life lessons like the record for total in excess of the priest that is true that as soon as our own societies i worked all the pressure. all yield major difficulties major crisis they have a tendency to forget what it was important he drove into these difficulties and so i would say we have two he made every region in coming. but again it's not the exact what the alps and today it's in your psyche and handed back to you station of the fact that the ethiopian the eu india has worked hard and at speakeasy cook nice but i still do well here it is

. >>> would you lend money to greece for five years? thousands of investors are apparently maybe getting ready to do so. the country of greece is expected to reenter the capital markets tomorrow for the first time in four years and two years since their last investor suffered big losses when greece restructured. a lot of questions here, including what's the yield? should american investors get in? or is this for institutions? something the likes of you and i should pass upon? michelle caruso-cabrera has been the details. >> this is a big milestone event, right? the country that started the whole financial crisis being able to borrow again. they hope to borrow 2 to 2.5 billion euros, the yield is about 5 to 5.25%, a duration of five years. junk rating on these bonds, tyler, which brings us to the head scratcher in this. greece's debt is higher than it was when it restructured. you know how restructures are supposed to work. but that didn't happen with greece. in fact citi points out -- >> because? >> because they ended up injure borrowin

that greece can still default?> greece used to have a primary deficit, which means they used to have a banner deficit they could not fund operations. at that stage, it was their interest to go to the bargaining table, and say please give us a lot of money, now they are a surplus, which means they are not depend on it, and at any time they say we with don't want to pay it any more, and if they don't, life will continue. so they are in a bargaining position. so things are great, the whole zone is designed to push down the road so that banks one day will be able to stomach the loss that is at some point will come. >> why does greece and it's economic problems and with it is having a good day, and whether these are snapping up these bonds why does that matter to the larger global economy? and to investors here? i would argue it doesn't matter any more. and the turning point was cypress. and the relevant again, it is private capitol. that means for their losses it is no longer this conteh june. it is no longer the large

because greece was in the euro. and i don't think anyone's got new plans to bring ukraine into the euro are i suppose there are all sorts of lessons or he thinks there are lessons about where the money goes what sort of conditions it's made available frankly i think this is potentially another european disaster. ukraine has got a serious need for financial support which is fundamentally both about liquidity it's about salton sea and there will be all sorts of fancy words dreamed up by people to describe what is essentially a form gift because it's very lucky i think it. provides large amounts of but actual assistance ukraine is very lucky to get its money back and that's been the lesson of greece and i think it's. likely that it would lead to greece will get their money back and i think this will be ukraine i'm glad that you bring up greece because i want to ask you do you think that the e.u. slash i.m.f. program in ukraine will be similar to the warning greece or is a lot better comparison in your opinion. i'm not

it will be greece's first long term debt since it's bailout.e have this from athens. >> interest rates have been climbing down from the beginning of the year as greece has gradually build up credibility. the government has decided now is the moment to advance into those markets and sell a five-year bond of what it hopes to be 5.25%. of course the choice of timing is politically significant. greece could have done this a week or two weeks from now, but it has chosen to do so at a time when the german chancellor angela merkel is about to visit on fried in order to declare the adjustment policy, which has austerity measures, has been contributed to the greek economy being competitive. back home in the real economy things have not improved because of this announcement. it will take much longer for the greek job market to pick up with unemployment at 27%. it will take longer for greek salaries to climb up. they've lost a third of their income since the beginning of the crisis, and it will allow unions to claw back their power to negotiate wage agree

tweet @cnbcwex. >>> greece is back. should investors be cheering the country's return to the debt market or does the oversubscription of yesterday's bond sale overshadow continued economic issues? >>> you're watching "worldwide exchange," bringing you business news from around the globe. >>> and let's recap the headlines today for you from around the globe. stocks in europe firmly in the red after a sell-off. of course u.s. markets sees the nasdaq post its worst session since 2011. >>> nikkei heavyweight fast retailing plunges as much as 8%. >>> jpmorgan and wells fargo kick off first quarter earnings in earnest. they expect the u.s. banks to see a drop in profits. it remains subdued in legal expenses way. >>> plus, spending cuts will be broad and permanent. the italian finance minister and world leaders gather in washington for the imf world bank meeting. >>> we're an hour and a half into the trading day in europe. we are firmly in the red following big sell-off state side. the dow down 1.6%, the nasdaq off 3%, s&p off

greece's debt is almost twice the country's gross domestic product. team statistics also show improvement. elsewhere in the eurozone. debt levels of member states are still growing as a whole but the brakes is slowing struggling economies like spain ireland cyprus and portugal posted lower deficits. as you just heard good economic news for portugal as it prepares to exit its eu bailout package next month. of course you have the option stayed on for the first time in three years but positive results. exports are also showing strong growth and positive trade balance for the first time in two decades. if all goes as planned portugal will bid farewell to a seventy eight billion euro rescue program on may seventeen. well to find out how all that the european economic news went over to traders in frankfurt he is with dots progress in the eurozone a good thing was the reaction from the frankfurt floor hear the still of course the tempo in which the progress is coming could be higher. when you listen to many of the traders talking here. he also see that the f

sentiment greece is now back in the public debt markets issuing a five year bond for the first time in four years at the low low yield of four point nine five percent however if one looks at the real economy as verified as does it's another story all together now real g.d.p. and investments are down and unemployment is way way up in greece a sturdy isn't a badge of honor it's supposed to be a formula for success but has it been now i spoke to dr verify to find out what the best formula for future economic success is and i started by asking him what the low bond yields in greece mean take a look. what it means is the european central bank and the berlin government have signaled to investors that even though everyone knows it's call them common knowledge the greek debt is unsustainable for the greek state is insolvent therefore the greek that we have to be had quite massively in the next few months or years what they've signaled to the investors is look this is three billion euros worth of bonds purchase them and we promise you that those bonds are not going to be a haircut if you are

take a look at greece's interest rates over the last several months.f that coming due to the help from the european central bank. the one thing that's important to keep in mind, why investors would still be so willing to lend greece money right now, even though it still has tons and tons of debt, it's because a lot of their debt was restructured so that it's not due for a very long time. 2023. if you buy this bond today, it comes due in five years. so there's a lot less risk within it. and a lot of investors are hungry for yield. so even though the yield is less than 5%, a lot lower than what was originally expected, it could go as high as 5.5%. still investors were very eager to get in. >> you're down in washington for an event where ben bernanke was present. and just asked a question. what did he ask, and who did he pose it to? >> so the imf and world bank meetings are going on. that's usually an occasion for tons and tons of central bankers to come to town. the indian central bank was doing an event at brookings, and he's made some very controversia

multiple and bryant is unreachable content and the wind is coming on the market's very positive about greece right now the german chancellor. this is athens calling for more reports. ukraine's prime minister who promised is more to the east as he tries to end the standoff with pro russian troops. defending champions by an edict are drawn against three aw look for it. the semifinal of the chapters. the again in the us where hundreds of people have defied a ban on protests during a visit by the german chancellor to the greek athlete but the wrongful came hot on the heels of syndicated news with greece was handed to them on markets yesterday on cd is out in the cold the most greeks are still feeling the pain of complex economic collapse in memory we will be going live to athens first here's more on a visit by a german leader of many greeks blame for pushing the country and gloucester miracle told grace. it's painful reforms were beginning to bear fruit and assured athens of continued german support. she praised the government of prime minister on tony summer us for its hard choices the police h

still to come in the program the latest flare up of public unrest in greece. with police fighting back crowds defying a ban on protests during a visit by e.u. finance minister. also want to play the latest on an ethnic armenian community caught up in syria's civil war thousands of christian locals were forced to flee after it was stolen by islamic extremists we've got the stories in a couple of minutes. if you are. really mind really and then you have the kind of which are you have for sure. you have. people saying we do not die people are being hunted. because of skinny. governments get involved and they do dumb things and the people in the middle are always suffering so if they suspend anything it's the little guy that usually gets punished and people who run governments in the people who run big businesses and they have the money they seem to do ok on this. i i. i. i. welcome back now jihadist rebels have seized an ethnic armenian town of kosov in syria looting homes and forcing thousands of residents to flee al-qaeda flags were raised over orthodox churche

all these billions being transferred to greece they believe that the money is used in greece to improve the country's overall situation. eleven point five million people live increase its g.d.p. and two thousand and eleven was two hundred eight billion so you would think that bailout money of two hundred forty billion would certainly help everyone living in greece to live a comfortable life the germans see all the demonstrations they see pictures of marco with a swastika the german representatives have been attacked you need seven or eight thousand security to make sure that merkel is safe in athens so you have these two conflicting images a lot of money is being transferred on the other hand machall is being attacked now people in germany wonder why are we doing this if there is no sign of gratitude well the side of gratitude is coming from the banks and the hedge month hedge fund managers who actually receive the bailout money it's not going anywhere else so just finally talk of a third bailout being on the books that final bailout could it just not be the tipping point and solve all

berlin with iran greece. our top stories. us vice president joe biden tells what should stop talking and start acting on to win more support to the high tea at. nigeria hundreds of girls and young women remain missing after being abducted by islamist extremists last week. have a coach at manchester united a bit more and sent packing after just ten runs on the job

coming along hand in hand will it surprise you references particularly i'd say hungary and greece. our very worst in miami. we have our own entry for this significant representation in parliament. their anti semitic main street knowledge that phenomenon we've not seen since the nineteen thirties. since national socialists took over germany as frightening. but it is not nineteen thirties and there are things you can be done. one is the united states needs to cause her mind her friends. at the way we combat this type of hatred is overwhelmingly positive speech. so when something happens. we don't think you can rely on hate speech law or rather tackle on loans sometimes it is a crime you can trust in him. but it's critical. that everybody in society. political leaders institutional leaders religious leaders and geo leaders. come on immediately thinking . and make it clear that the society is not represented by his course helmets. then i think is something we can try to encourage and help people get it. and earlier from the french foreign minister said that he feels that antisemitism i

loss greece gets back in the debt game -- plus.he cofounders of investment firm thurlow wondered called out the behavior of activists and the day described as a group of bullies who not only tolerate a fight but relish it. that may provide amusement to them. it can leave a company distracted and vulnerable. they say -- one man who has never been silent and is always outspoken, analyst mike mayo, has been a frequent critic of mismanagement of some of the big banks. he is here with me to call out board members that he calls lazy boys. welcome, mike, always good to see you. are you talking about these corporate boards that go along with management, said by, say anything goes, just to keep the peace? rubberstamp bank boards, i have seen it for 25 years. butgement teams come and go these boards don't take enough responsibility for overseeing this management team. i brought up some of these examples before but look at the big bank mergers. been -- it six s as has been seven years for he and y malin. who is responsible? is accountable? i

in greece even the tigers are talking tough about the crisis. o'shea and unfortunately people looks that way. on the cards find in the us in the rulebook of astronomy. that is what it offers us because find a hero to believe in a bubble the greeks like cdos protest more white. but with the display that last longer than a march solitary and usually anonymous. he and his fellow activists also bring their messages to the streets he says greece can find its future. i look into its path a less than doubled that of course it tells the story of odysseus with all the temptations and his enemies. but everything that will go three more pieces on tv. when he read it but me thinks it's more weeks of bubble gum and artwork like this is all over the city some of it. such. some of the start. some of that. so blah this is one of course the roads in athens a place for the sting of austerity it's especially hard. street artists like this one have offered up their prayers for this city and for this country together. zapata price is back on the road to recovery a v

and what he has done by goading, threatening the sanctions imposed on him has exposed spain, italy, greece, austria, ireland, netherlands,

greece is ready to hit the bond market. in today's cover story...trouble on the road as automakers issue new recalls. plus...3d printing prepares to take medicine into the next dimension. and...movie money madness...the film studios spending big to win big. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! i'm angela miles. it's thursday, april 10th. in today's first look: are bears on the run? the stock market logged one of its best days in more than a month wednesday... after fed minutes from the fomc meeting revealing interest rates are likely to remain low. the blue chips rallied 181 points the nasdag 71 and the s&p 20. gold added $3 dollars and oil 79 cents. shares of bed bath and beyond dropped 4% after the close as the retailer reported a 10% profit slip. a new filing shows jp morgan cut ceo jamie dimon's pay to $11 million last year from $18 in 2012. florida's orange crop will be the lowest in decades according to the ag department as a d

greece fits that bill.s one economist told me that i spoke to earlier, greece is practically the only bond on the market now that is both high yield and relatively safe, because it's an emergent, it's classified as an emerging market economy but belongs to a hard currency. you get the best of both worlds right up until greece gets marked up for its credit worthiness again by its ratings agencies. >> a group of senate democrats putting pressure on president obama to give final approval to the key stone pipeline, demanding an end to the five year long review of the project. a lot of environmentalists oppose the pipeline which stretches from canada to texas. the president must approve the project because it crosses an international boundary. >> environmentalist groups are suing for damage they say oil and gas companies have done to louisiana. they call themselves the green army and they are making war to protect coastal we had lands. aljazeera has the story in the second part of our series climate s.o.s. >> fo

we can work in sweden and greece and germany the nhs. i'm knitting episode and i'm going to be tomorrow. that's how we have to think about life to visit a bit like this. we are the nice things to eat a lot of these high heeled professionals. i'm thinking anymore wait till it's mccullum fifty. to discuss the consequences of these brain drain phenomenon that's gross locked inside a professor of european politics and economy of the athens university of economics in business with the dogs but we got this. yes thank you. he tickled to hear from the struggle until we got there and we don't know so we say that the flag of the most i began my niece undermines those airports the problem is that if the best of the bride to be especially if we don't intend to come back. initial class of the government and the salt the meat to make a great . the transition to a sustainable growth mobile based on height. i'm not that high productivity. activities he's been using the best of the brightness and the transition to school to do with it. might get stuck in

kabul has exploded outside the bank of greece in central athens the damaging nearby buildings no injuries reported. police say an anonymous caller warned of local newspaper that a woman being plotted the attack came just hours before greece was due to return to the international board markets as the day before the judgment also eyeing the buckles planned visit to the country. it also comes on the back of a nationwide strike against budget cuts and mailed to the sector to market by foreign credit as the store's life not the constitution or the west but to which cut regardless of joining us to the international george good to see you today that that acte risen dramatically since lisa tilted his austerity policies four years ago to oversee the con expect a politician to tell us to treat calm that is it. we got the floor. for the office. they say. pain in the pool. these days the deceased person. or is not workable in georgia where what you think that changing things austerity measures we will blow. not the real world he's been in their own costs i represent these years this is true why is it