greece has to grab that opportunity to convince them that greece is serious about reforms.uy: our twitter question of the day which poses the greatest threat to europe, russia or greece? they pose a different threat at different times. dr. schmieding: russia is by far the biggest threat to europe. greece is a small country at the fridge. we would love to help it but we cannot help it without setting conditions. these conditions have to be honored and we cannot go on breaking commitments because that would undermine the foundation of the eu. russia is a big power with nuclear powers. greece is misbehaving financially, russia is misbehaving militarily. that is a bigger threat. guy: how do think that threat will be manifested economically? we have seen an impact in the german economy. how they get dragged -- how big a drag is russia? dr. schmieding: it's modest. last year it did interrupt the core european actors for half a year with a fall in german business investment. now, a new round of fighting in january and february it was very bad but it was not as choppy. less of a su

greece's demands for world war reparations -- germany dismisses greece's demands. then secretary-general outlines plans for new command centers in eastern europe as felines prepares for its biggest -- as it prepares for its biggest maneuvers in years. >> welcome to the show. german officials have told athens that the issue of compensation for the occupation of greece was settled decades ago and the government is not prepared to discuss the issue any further. >> the greek prime minister says the country has never been fully compensated. the deal has soured relations as the country's continued their acrimonious face-off over greece's financial bailout. >> is no coincidence that greece, led by new prime minister tsipras, he says greece will meet its obligations but other countries might also honor theirs. germany's occupation of greece during world war ii was brutal. one atrocity took place in this village. in 1944, german forces murdered over 200 people in the village. 15 years ago, a court in greece ruled that relatives had a right to compensation. the court also ru

he says the possibility that greece leaves the eurozone is a real threat. >> if it pushes greece out of the euro it would hurt itself. olivia: chuka umunna --chuka umunna --soros says --. an american educated former world bank official. the obama administration's use him as an improvement over his predecessor. gone he wants the u.s. to slow down its military withdrawal. israel was spying on the united states talks with iran over the country's nuclear deal. the wall street journal says the white house was not that upset because both countries regularly spy on each other. israel shared the information with u.s. lawmakers in an attempt to sink any deal. john kerry returns to switzerland to continue talks. brendan: deutsche bank shrinking trading businesses to groove -- to boost profits. higher capital requirements have cut into the profits and wait on the inc.'s stock prices. the nfl making moves aimed that those who do not go to the stadium to watch games. huge news, all games will be televised in local markets even if they do not sell out. a pro football game will be broadcast on the

we begin in greece. . the country needs to pay 1.5 billion and pensions by the end of the month and and a list of reforms to the eurogroup. we are joined by marcus and matt. let's begin with you. when did they run out of money? >> no one knows exactly. it depends on how much they have in reserves and it flew look at the payment schedule in april, it is a much easier situation. march is a difficult month month and it has a big impact. it will be tough. >> looks like it. they want to see a new list of reforms. and greece is insolvent, our reforms even possible? >> well, i mean, it is one thing and it is another thing to draw details and detailed plans on how you implement the reforms. implementing the reforms has always been a big difficulty and it is a major cause of friction. the cash crunch has greece getting by from day to day and it is cutting back the least essential payments. it may allow the country to make payments from a day to the next. that means it increases the uncertainty around if they slip i

he noted the ecb's total exposure to greece. this keeps with the thursday night meeting that was in brussels with mr. tsipras and euro area officials. it was really mr. draghi who was pretty firm and pretty harsh on mr. tsipras for not giving ecb officials access to the relevant books they need. mario draghi seems increasingly frustrated and that is important because he will be among others determining the raises. francine: thank you so much. i also asked billionaire investor george soros about greece. he said the situation is now a lose-lose game. george soros: the situation is quite serious area the situation has deteriorated -- the situation is quite serious. the situation has deteriorated. the desire to hurt the other greece's performance has deteriorated. they are hurting themselves doing what they are doing. europe, also. if it pushes greece out of the euro would hurt itself. francine: is it a 50-50 possibility? george soros: i would say so, yes. it does not need to be there. it has to terrier rated. -- it has deteriorated

if greece opens the books.uy: it was unclear late last night whether any appointments had been confirmed. as greece runs out of time and money and allies is it really in a position to push back? let's find out where we stand with our international correspondent hans nichols. hans: we have two separate meetings. we have meetings in brussels that take place today. those are going to take place as scheduled. that is to negotiate about how you have a bailout program and reforms in greece that allow them to get some of the money out of the bailout program. then there are separate talks scheduled on thursday, technical a talks, mid-level officials need to figure on what the books are saying. how much revenue is coming into the greek state and how much is going out. it is on the athens talks that we don't have any firm confirmation of any meetings actually scheduled. yesterday, they said that discussions can only be started when people are welcomed in athens. there is a question on how long the greek government can co

they did not just talk about greece, but they did talk about greece. what did they say?there was a lot of drama with greece. a lot of pressure applied by the eu finance ministers. there was not much concrete progress in brussels. they agreed to start the technical discussions on the greek reform by wednesday in brussels. whether greece can receive the next 7 billion euros that they are scheduled to receive as soon as this month. the question on everybody's lips was whether greece could run out of cash very soon. i put that question to the eurogroup head after the meeting. >> i don't know if and when they run out of cash because i don't control athens. that is their responsibility. all i know is that we can probably release further loans from the european funds if there is a full agreement on the total package and if they start implementing reforms. so far, two weeks of gone by and neither of the two have happened. at the moment, they are still on the rhÔne, but we stand ready to work with them, hopefully starting on wednesday. >> the eurogroup said that greece has wasted

very crucial to greece.hether it is crucial for the rest of europe is up for debate. i happen to be in the camp that says because the financial institutions no longer hold the greek debt but now it's the imf, and the european union, that if greece were to default, it isn't such a big deal. clearly there would be ripple affects, but the attitude in northern europe says we can stomach a greek default, and the obligation, of course, is that weakens greece's negotiating hand, because greece is still of the position that it would be a disaster for europe and the rest of the world. >> what does it say about the greek position being hey, nazi germany took a lot of our people and therefore they should pay reparations and other things that greece seems to be talking about. >> well the greek prime minister today back pedalled from that and then said no we don't want reparation payments. angela merkel made it clear that legally and politically these issues are resolved. but there were many testy questions here. and cle

talking about greece. the prime minister will go before the country's parliament to push for more economic reforms today. in an interview over the weekend, he warned you will cross any redlines in cutting wages or pensions. we go over to hans nichols who has been following developments for us. debt deadlines looming. are the measures going to satisfy them? >> good morning. they may not be specific enough. they also assume a 1.5 or 1.4 growth rate to get to that 1.5 primary surplus. here is what they will be showing. they say they will raise an additional 3 billion euros in revenue. 2.5 of that will come from the property tax. that is important. also, increasing the valued added tax. based on those two fronts, he is moving towards creditors. as you said, nothing on labor market reform. nothing on pension reform. that could be a dealbreaker. is what he told news over the weekend in a sunday night interview. it is no prospect of taking any recessionary measures whether cutting wages or pensions are liberalizi

our bureau over in greece. the question, do we have a hound on how much cash greece has left? how long can a last, a matter of days or a matter of weeks? guest: i think the next few weeks or days according to our sources, it is very demand area mr. tsipras said april 15 will be a crucial time and we have wages to be paid this week and pensions over one billion euros on a thursday. that will be hard. nobody can pin it down the date of the cash problem because there is more volatility on the inflows. and last week, you have tax collection overdue payments. nobody could really project. really, the problem is very severe and very dyer. we cannot candidate down the exact date. -- we cannot pin down the exact date for we know april is the last time they will have money in the coffers. jonathan: a lot of talk about liquidity problems and a lot of talk about liquidity problems for the bank. we saw a report that outflows is that another problem they have to think about and fast? vassilis karamanis: that is a major problem. the greek government is accepting deposits from the pension fun

greece has always played this kind of game of brinkmanship knowing, as it does that if greece were toout of the euro the effects for europe would be untold. the concern is they might actually run out of cash while they do it. >> april still this key deadline. what's the situation like inside greece. what's the ability of the greek government to do things like pay pensions? >> well, pretty limited. they're going to issue about another $1 billion in treasury bills. this is an exercise with the banks, obviously the freed up cash for salaries to be paid but it's said that they're going to need 6 billion euros this month. and some people have warned that civil servants and others working in greece should expect a pay cut. expect, meanwhile, that's what the imf are wanting them to do in any case to press ahead with these structural reforms, which will be sort of essentially the terms of any further bailouts and certainly the extension. they don't seem to want to do that. they're still playing this game of brinkmanship. it's a question of who blinks first. and the other issue is people stop

greece-german yields. these are elevated yields and here is the crisis in greece we get better, draghi, thank you. this is the story. brendan: these are two different movements. this is credit uncertainty. this is political uncertainty. we do not know what is going to happen. new regime and new promises they had not been fulfilled or denied by the eu. this is political uncertainty. tom: the catalyst is the liquidity around the political uncertainty. there's a little bit on the markets on this off friday. my tie looks like i did my brackets last night. i am sorry. i'll tie my tie during the break. olivia: looks like the solar eclipse. tom: 1662 is the last time we had an eclipse. i was just starting geometry back then. brendan: it is a shame that the german power grid cannot tap into your enthusiasm. you could power the country. olivia: live pictures right now. tom: this is between iceland and scotland on the way to the jonathan ferro islands. olivia: you know what that is called? a waning gibbous. tom: ast

the big worry is that greece is running out of money. greece could go bankruptcy and one of the first countries to -- or the first country to break out of the european union. breaking out of their press conference a few minutes ago demands by its international lenders. >> translator: our goal should be to make necessary reforms. those that previous governments did not deal with. dealing with tax evasion those who have avoided paying their tax. >> angela merkel was saying, germany is willing to engage in talks about the bailout and ultimately wants greece to be a strong country. >> translator: we want greece to be a strong country economically, we want them to have growth, we also want greece to come out of this high unemployment. and we certainly want to make sure that this very high youth unemployment can be overcome and structural reforms are necessary for this, a solid budget is necessary, and a functioning administration is necessary. i think that's clear for both countries. >> let us roll back just a little bit to where it all seeme

greece and ukraine are in focus.et's bring in joe and marcus bensasson in athens for a look at the story. first in brussels, joan satan joins us. our more sanctions against russia from the table? >> that is a question we are going to see about today. eu leaders are gathering in brussels in a few hours. they are still far apart on whether or not to extend the sanctions. the countries in the east generally there is a block that wants to extend them. other countries in the south and west would rather leave things the way they are and see if the cease-fire holds in eastern ukraine. they are looking to see if that takes hold and russia abides by it. they are willing to give a little more time and make sure that happens before making a decision on sanctions. anna: a little bit more time perhaps. what does the greek prime minister hoped to get out of his meeting in brussels today? there is this general gathering of leaders and then a site meeting of tsipras and merkel. jones: that's right. greek prime minister tsipras has r

caroline: let's look at greece.uropean central bank provided more than one billion euros in extra funding to greek banks. this is the biggest increase in emergency funding from the ecb in a month. it raising the ceiling to 71 billion euros. the move comes ats euro area governments gave greece until monday to offer sufficient reforms to unlock the remaining 7 billion of its current bailout. the governor of greece's central bank and ecb governing council member has been urging the greek government to enact broad structural reforms. that was after he spoke at the london school of economics last night. for more on this let's get to paul in franklin. i mean, how much relief will this newest extension of funding provided? 1 billion songs like a lot but then. when you look at 71 billion in total paul: it will provide a huge amount of relief for the country. what this what he is designed to do it keep the banks afloat. not the government. the point is the uncertainty surrounding the debate over wheter ur -- whether aid paym

what greece doesn't want to do?was agreed a couple weeks ago, february 20th when there was a last sort of crisis blew up and everyone was worried that greece was going to be running out of money and the bailout was expiring. what they agreed is they would roll it on for four months but, and this is the crucial part on the condition that greece had to present it's new program, the new measures that the government wants to carry out, the changes from the old austerity program that they want to make and the partners need to be satisfied by that. so that's that's what's been the issue, but behind that, we've already seen euro zone countries expressing frustration saying greece is taking too long to bring the proposals forward to give the detail. and it's only in the last two days that the, sort of experts have sat down and started to go through the proposals and the numbers just on wednesday and thursday. so that's the stage we've got to and greece's partners are frustrated saying it's simply not been moving quickly eno

brendan: greece i have to temper my own ennui.nuing to report on it but it is important right now. w come -- what comes out of the meeting today will be important. olivia: ted cruz announcing he will run for the republican ticket. the freshman senator from texas will be speaking at 10:00 a.m. this morning. full coverage on bloomberg.com with mark halperin and john heilemann. he's the first to enter the race. this is a bid to be who will be number two behind jed bush. tom: is this a vanity bid? what's his support? olivia: with the evangelicals andd the tea party. tom: he's running for president with 94% of america not supporting him? brendan: i think it is a vanity bid. he believes he can win this. ian: the circus is beginning. we will have a dozen plus candidates. most of them have no chance of getting a nomination. and chances of improving their speaking fees and selling books and lining up for a cabinet position. thank god ted cruz wants to get that started olivia: will there be a point when he gets paid to read "green eggs and

up next, independence day in greece. but perhaps in name alone as government bills stack of an money runs out. ♪ anna: welcome back. this is "on the move." on a day that greece celebrates its independence from the ottoman empire, the nation may be bemoaning dependence on creditors. the ecb is said to have banned greek banks from increasing holdings of death. the government is trying to come up with money anywhere it can. for more on the latest, we are joined by ben sills in athens. good to see you this morning. how cash-strapped is greece at this moment? bill: hearing nothing here. anna: seems as if ben is not hearing me. wonder if we will get that another try. looks as if we have lost him. let's instead talk the john bilton from j.p. morgan asset management. the failings of modern technology. let's talk about greece. is this playing out in a worrying direction for you? are you managing to keep your concerns contained? john: the thing to remember about anything to do with eurozone, whether it be monetary policy, politica

that is letting greece exit the eurozone. we had a conversation this morning on "countdown," saying the worst-case scenario is keeping greece inside this grouping of the eurozone. in many ways what is needed is a political union and we are so far from that. echoing the discussion. look at these equity markets across the area. denmark up 27%, portugal up 25%. japan up 10% on the quarter. this is putting it in context in terms of what the market has been doing. in japan and those markets the japanese markets up 10% over the year. then in the united states of america, barely up 1/10 of 1% hanging on by its think nails in terms of the overall adding of value this year. the business world will hear what labour once in terms of their business message. they'll get a net pretax gain of 365 million swiss francs. lvmh, what we saw was them saying -- down as a result of china and they are bringing in the lower priced products. slightly cheaper than what went before. what they are saying about china and hong kong is something to take acr

that is the problem in greece.he wages have increased enormously through this credit flow from outside other countries to greece in the period before the crisis. first it was private credit and now it is public credit, but you cannot permanently run an economy on an inflow of credit from abroad. this really destroys your own economy because everyone lives on these funds coming from abroad rather than producing goods to her in money instead. -- to earn money instead. guy: hans-werner sinn always interesting to talk. thank you for sharing your thoughts. hans-werner sinn, the president of the ifo institute. we will have the details of the potential kraft deal next. check out the reveal of the new jaguar. it made a high wire debut yesterday. yes. you would need to be a stuntman to attempt that. nice work. we will leave you with the pictures. ♪ guy: good morning. welcome back. you are watching "the pulse." 3g capital is an advanced talks to buy kraft. caroline: maybe you fancy a bit of heinz tomato ketchup with your kra

. >> meetings with the german chants chancellor and leaders of greece greece. the european union has pledged $721 billion to ease it's you humanitarian crisis. but said there will be no money without reforms. they say that quantitative easing could could help. >> are we blackmailing greece? well, it's a bit of a reach when you look at the explosion that we have with greece. ecb has $104 billion exposure to greece. this is 65% of greek gdp. if the highest exposure in the euro zone. >> we will take you to the red carpet in berlin. theangela merkel on the left of your screen, saying it is an honor to have the new young prime minister. she put it as an old friend as greece in the german capital. if it's as cordial behind doors we will see. >> the first thing to say there is a small group behind me but the right of the meeting, let's remember, this is the first official visit by the greek prime minister to germany to meet angela merkel. he had met with leaders in brussels with where they talked long into the night about greece's debt crisis and the money they need.

leaders urge greece to find a compromise. the clock ticks on how much longer greece can keep it self-funded. tsipras meant with leaders as well as mario draghi in brussels last night. let's get the latest from caroline connan in brussels. this ellis in athens, what exactly was agreed yesterday, if anything at all? >> good morning, jon. it feels like it is february 20 all over again. basically, we have to go back to the eurogroup meeting on february 20 and greece has to move forward a certain set of structural reforms that its creditors need to review, and agree on financial aid. prime minister tsipras said they will manage to put the limitations back on track. so far, there is one thing really different than before. that is that the cash liquidity problem in athens is much more serious than before. state coffers are running dry. more payments need to be dispersed today. the next couple of weeks are going to be very challenging. a group of people said, we have liquidity until april. that needs to be addressed very quickly. jon

not to solve the problem, but greece has not exited. made a lot of money when they were buying $.14 on the dollar. i'm just a dumb former diplomat, so i don't give financial advice . but if i had the money i would say that reese will stay in the euro. matt: what if anything, we'll push them out? is there an outlier situation where some populist feeling could flare up or some election could be called that would push greece out of the eurozone? thomas: i think several things could happen. number one, if they went ahead and phrase the question "do we keep our dignity or not" the overwhelming majority would vote to keep their dignity which is a way for the government to support saying no to the rest of austerity. what we have seen thus far is europeans have said you have to carry out your obligations, and that has been a pretty steady message. and the greeks keep trying to push the boundaries. i think i'll sides could -- i think both sides could mis estimate and -- matt: have they put too much pressure on this week economy? thomas: i think

the talks on greece didn't even last 90 minutes. does that's be for progress or is everyone just tired of talking? >> seeing that the last meeting was two weeks ago and nothing much has happened since, as the head of the europe group and the dutch finance ministers just put it, they spent a lot of time on procedural efforts and a lot of time on who needs to in what configuration and where. he says it has been a complete waste of time and it is like greece will not see any further money from this aid budget. unless there is a clear agreement and implementation well above the ground. next tell me about the mood in the room there. it was reported greek officials were irate because other eurozone leaders continue to use the word troika when referring to greece's managers. why are they mad and why do they keep using the word? >> i think he keeps using it for a practical purpose. he would say it is exactly the same institutions, it is the imf , it is the european central bank and european commission. the wording formally known as troika i

borrowing costs rising for greece. once again concern that there is disagreement between the new government and the eurogroup. let's look at how the euro is reacting. coming off those lows. interesting moves in oil, which are coming a little bit flatter. it has been trading lower today. there are some issues that you might see global inventories build again. so says goldman sachs. keep an eye on mining today. let's look at some of the stocks being affected. china, we saw that overall, we are starting to see commodity trade slowdown. the lunar new year holiday really crimping oil and iron ore. iron ore really starting to see the effect on bhp billiton, down more than 1% on the fact that we are seeing surplus. prices likely to fall for iron ore. wpp, biggest advertiser in the world beating analyst estimates. it is north america and the united kingdom that made up for a slowdown in emerging markets. lloyds off by 0.2%. they are selling 500 million pounds worth of shares. that brings their total of two more than one billio

independence day in greece.celebrates its freedom from the ottoman empire as it remains independent as ever on creditors. bills are stacking up and time is running out. we are following the latest from the german flight that crashed in southeastern france area and salvage crews are scouring debris for any clues as to what went wrong between barcelona and dusseldorf. that's what we watching this morning. a little bit of m&a in the market this morning. let's focus on what european equity markets are doing this wednesday morning. let's get straight to manus cranny. manus: good morning to you. equity markets coming back ever so slightly. you are going to get a confidence indicator coming from dax. the overall position on the european map according to oxford analytics, basically, money supply is going along at 8%, 9%. quantitative easing is working. the deal is pretty much done. the pricing and the payout, that is going to be down to performance on telefonica. we will see how it opens at the

it is not just greece. francine: how worried are you about greece? >> i'm really not. i was involved with esi -- francine: why? is that naive? >> it's the quantum. one day qe is 3 billion euros. on day one of qe it was 3 billion euros, that is all greece needs. there's a lot of noise around this. with all the respect, there's been a fair bit of misreporting. not by bloomberg, of course. just grabbing headlines and jumping on the back of what the ela means. this happened with ireland and we've seen it before with greece . i don't think it is that alarming but the market seems to want to jump on it. if you look at the price action on treasuries and other euro zone periphery markets, they seem to be ignoring greece. francine: because of qe? >> it may be the tail risk is being swamped by the liquidity. francine: is there a danger that we are not factoring in -- this war of words, i hate that expression -- they are is there a danger that one country gets fed up? it could be germany or greece. saying we do not want to be part of this anymore. >> if this was a husband and wif

now to greece. pressure on the greece to open their books. let's go to our reporters. want to go to you caroline what happened in brussels? the bar was low and we did not get much out of it. caroline: that is right. there was a lot of drama but not a lot of progression last night. the main thing they decided was to start the technical discussion on the greek package of reform as soon as tomorrow here in brussels. some discussion will take place and will determine whether it agrees can receive or in -- greece or not can receive the charge they are to receive in march. that question on whether or when greece could run out of cash is on everybody's list last night. greece officials say it could be 1 2, 3 weeks, it is hard to tell. i spoke to a head last night and asked if he knew when greece could run out of cash. >> i do not know if and when it they run out of crash because i do not control the teal -- till. we can only release further loans from the european funds if there is a full agreement of the total package and if they start implementing reforms. so far two weeks

see greece leaving the eurozone.t is the spanish prime minister. the impact of china's slowdown look no further than prada's latest products. they posted a 20% drop. let's bring in bloomberg intelligent. very key messages from prada and it has to do with china. reporter: if we look at asia their sales and they are down 3%. if we look at china in particular down 17% last year. big exposure to hong kong and chinese tourists are going elsewhere. francine: how crucial it is hong kong? it is the hub where luxury goods get bought. and the city state coming under a lot of pressure from protests area will there be believe? deborah: we are seeing relief. we can talk about -12% in the second half. we can look also at what -- said in hong kong they are seeing relief because of their consumers moving to lower-priced brands. it is doing very well for them. overall, overhand from the protests in october. there is a lots of inventory in store. francine: when we look at prada very disappointed but the share price did not move so muc

submit reforms greece is told.hat in itself, meeting those reforms, the submission deadline on monday in its health is not going to be enough to guarantee does are spent. you have to go to the next stage. we are getting into th holiday for a lot of catholic countries, not fore greece. that slows down the process. and you have an imf payment on april 9. again, the payment in and of itself is not as ashley owner is compared to what we have seen, but after much -- that has gone by, if that is completely exhausted, the reserves, the straw that makes the camels back does not have to be onerous. -- the straw that breaks the camel's back does not have to be onerous. deadlines get missed. everything ends up at the last minute. having said that, sometimes we do see deadlines getting met. that happened a few days after the february 20 agreement with the initial list the gre had to submit. e-- the greeks had to submit. if there is no leeway to go beyond that, my best guess is that they will make the deadline. the question is

they come together and impose on greece.the data available and he does not want to hear the word troika ever again. >> not a fan of linguistic ownership. mark: pushing the cash-strapped nation to push a rescue package. for more, let's go to athens. good morning. what can we take away from yesterday's meeting? >> we had the eurogroup president call it a complete waste of time and they started to disagree. a few weeks ago, the member states agreed to extend the availability of bailout funds. the greek government committed to ambitious reforms which included pension reform and eliminating streamlining and public administration of funds. they expect the greek government to start working on delivering reforms. instead, the greek government spent the last few weeks drawing up a new list of other reforms. we have id cards and tax evasion. as we expected, the finance minister said this is not enough. we can have another. i have proof of the dispersion of bailout funds for greece. the government started delivering on reforms and ther

on this desk, i hear this is it for greece, and then it is not.ee where this is going. you can probably stop it. the deadlines are shift about. even the april 9 deadline greece might be able to shift funds internally. they might be able to make the payout. they are probably going to need some sort of cash infusion. they say how they're going to reform pensions and labor laws. you're not going to get the money unlocked. tom: what i hear is this is a financial ramifications story. if greece goes belly up, it still has a knockout effect to the eu system. >> a lot of people have been preparing for this outcome. they have virtually no love it -- no leverage. it has been very clear from the beginning there going to have to backtrack on all of these promises. that is what they are doing. they are going -- they're backtracking. in the end, they do not have anyone to work with. brendan: do you sense that they are more and more anxious to see greece go? hans: in some ways, they do not have negotiating power. how united is this. tom: we continue a discussion

greece struck a deal last month to extend bailout funding until june. >> i believe that greece is experiencing series social issues which one could call humanitarian crisis. the two billions is not made for grease's coffers. >> well, one of the great mysteries of the greek civil war is the story of the serbian village of maglic. years later there is no evidence of this part of history. we go to serbia to find out more. >> throwing light on one village village's very unusual past. the register shows the births and marriages of the late 1940s and early 1950ers. in this small community of northern serbia many of the names are greek. a civil war raged in greece in the 1940s. the government supported by western powers defeated the communists. man of whom took refugees next door. dmitri's father was one of those left-wing greeks who fled and came to this village along with thousands of others. he has long since died, and dmitri has lived his whole life torn between his greek and serbian identity. >> as time goes by, i feel more and more nostalgic for greece. just as my father did. he wanted to retur

to give them billions make the greece's woes worse over time. we can never expect to see at a money again. >> reporter: but buying time can only go so far because alexis tsipras has indicated that greece could default on its debts within weeks. which helps splairch why he came toexplain with judgehe came to the greek capital. on the face of it there's been no tangible progress. dominic kane, al jazeera berlin. >> the u.k. has introduced new measures to counter what it calls islamist extremism. the government could also close mosques that welcome or host so-called extremists. investigation of sherea courts. >>> a suspect of a drug cartel has been arrested. in the city of nuevovo laredo. he was a member of the zetas gang and one of 122 priority targets for arrests. he was arrested on owner drug smuggling and money laundering. >>> highlighting the nearly 3 million people who miss out on treatment. tb is more common in poorer areas where people live close together. south africa, it is the leading cause of deft. getting harder to treat there because

it's not just about greece. it's for the greek and german people who spilled a lot of people in order to deal with nazis during that period of time. >>reporter: for her part the chancellor repeated her same message. >> we want greece to be a strong country economically. we want them to have growth. we also want greece to come out of this high unemployment and we certainly want to make sure that this very high youth unemployment can be overcome and structural reforms are necessary for this a solid budget is necessary, and a functioning administration is necessary. i think that's clear for both countries. >> but behind all this is the reality the german economic strength is helping to keep greece afloat potentially costing taxpayers many billions. and now a growing number of people say they've had enough. >> we can help to solve their problems but the greeks must want this too. to give them more billions makes greece's woes worse in the long run. you buy time that's right. but no one can seriously expect that we'l

tackling greece's social crisis. saying, we cannot be on a level where they are dictating every level of policy. so this is what tsipras is trying to get at to go over the heads of the technocrats at the summit. manus: thank you very much for rounding up the risks and rewards he is seeking. mark: this cement giant is battling to save their $40 billion merger, it is crucial not only to the two companies but the company crh which is seeking to buy them if the deal goes through. caroline is here with more on the race. things are looking more positive yesterday afternoon. caroline: yes and talks that they can reach an agreement today. this is all about financial terms but it's also all about leadership. not only are they looking at the deal and thought we are more valuable, we don't want to do a 141 intra-terms of share ratio agreement they want .9 shares per one of their shares. as you are saying a 10% discount overall. they want better financial terms but don't want them as ceo, this is a man who looms larger than life

and about a month ago, just before i went away it was greece, greece greece and it's going to continuet? but greece backed down. europe agreed to give them yes, another chunk of bailout money, and they did that because the government -- the greek government kind of backed down on a lot of their rhetoric if you are, anyway. the promises to the greek voters. since they've done that, i'm wondering wondering, does that change the balance of power. can europe now go they'll do it once, they'll do it again if we stay tough. >> i think that's exactly the phrase i would use. i think the balance of power has tilted. it's not completely shifted, but tilted to berlin and to the creditors. and that is, because, as you say, once this has already happened once, it's also because since the crisis first broke in the eurozone in greece in 2010 europe has put in a lot of fire bricks. there's the money from the ecb that could come to a country that's in trouble, the omt, as it's called. there's money where the eurozone together borrows from the markets and lends. it's all part of this -- there's an alpha

let's begin with the crisis in greece. the prime minister is meeting with german chancellor angela merkel. it is their second meeting in five days as greece slips closer to bankruptcy. hans nichols joins us from berlin. what is the latest? hans: the latest as we have two leaders trying to sweep any differences under the table. if you think about three issues they are talking about, one is the overall bailout package will stop the greek from esters making all the right signs telegraphing he is willing to make reforms and even to agreements that he said the previous government supported. that is something -- on the immediate liquidity crisis neither side says they're going to get much out of the meeting to advance the issue. he says he's not looking to pay for salaries or pensions at the end of this month and angela merkel says i'm just one of 18 or 19 eurogroup companies. i don't have any say to open the liquidity gates on my own. perhaps the third issue as to whether there should be any german reparations both sides are da

mark: greece has been effectively locked out of the capital markets. what type of structural reforms are going to have to be put in place to get those markets the sense they can have confidence full faith and credit in greece, going forward? >> i think we have concentrated a lot on the fiscal reforms. so the country came out with [indiscernible] much earlier than everybody expected. today, we have to concentrate on structural reforms open up our services, expedite justice, if you like, a more stable taxation system. these are the many forms we have to go through. mark: revenues are fully sure. citizens are already squeezed because of the austerity measures. because of ese measures, is there any way greece can overcome this tax shortfall? >> it is indeed difficult after five years off austerity -- years of austerity. people are really squeezed. this is why we need to move to growth reforms. we need to grow our economy so there is enough wealth made, distributed, and people can pay their taxes. this is expected of greece and this is what the prime minist

greece. to repay about $352 million euros to imf tomorrow and if greece fails to unlock bailout funds it could run out of cash within weeks. my next guest says the real risk to greece is its banking system. here to explain of course, bill rhodes, former senior vice chairman at citigroup and also the author of "banker to the world" joining us also bloomberg's reporter who covers the bond market. you say the banking is the achilles heel why that and not the government? >> i think the banking system represents the economy of the country in the sense that everything flows through the banking system and in greece it is like 85% to 95% of finance to the economy comes through the banking system. and the e.c.p. has been squeezing through the central bank of greece the amount of backup lines that the banks have in greece. so i think this is very key. and all of these discussions that are ong have to take into account the banking system. alix: to what extent are other banks not in greece lending to bus

greece has come a long way.ela merkel's remarks recently, there is significant armed to compromise. my point remains that a compromise is likely and it might go down to the desperate last-minute wire that cash can always be found. i do not think the imf payment is going to be missed. i think it might be partly political to visit. i am sure there are people looking at how money can be borrowed in the future. there might be calls going out to goldman sachs and other banks. the 450 million euros is not that challenging to find. francine: what does it mean for the banks? >> if you look at the percentage of funding coming from the ecb and the domestic greek deposits, those of the biggest components. as long as the headlines continue to be uncertain you will see a bleeding of the deposits. if there is a political signal, i expect the ecb to increase the ceiling. i think a lot depends on the political signal and what i see, despite the rhetoric and disagreements we will see a compromise of one kind or another. francine

he was asked this question, are you lack mailing greece and here was his response -- black ma iling greece? draghi: first of all, it is a bit rich when you look at the exposure we have. ecb has 1.4 billion of exposure. this is equal to 65% of greek gdp. it is the highest exposure in the eurozone. of blackmail is this? hans: you take these comments from draghi yesterday and add to what he was saying behind closed doors late thursday night, expressing frustration they were not giving him access to the relevant data in athens you can see that the ecb is not in a forgiving mood or a negotiating mood. the emergency liquidity assistance and whether to raise the ceiling, the ecb has as much say about liquidity as the eurogroup. jonathan:ryan: time for a bloomberg exclusive interview. george soros sat down with francine lacqua. he said the allies should do whatever it takes to save the war-torn nation. soros: it is a political decision on the part of ukraine's allies that they must do whatever it takes to help the ukraine not only survive but to actually make progress in the midst of war. if the u

greece faces a payment. the prime minister told his parliament last night that he is trying to stop the bleeding in the country. he was trying to -- april could be a crueler month. let's get to hans nichols who has been following the developments. the official list -- when mice the finance minister need to approve it? it doesn't look as if this document has been warmly received. hans: this 15 page document is a draft. we don't know if the official list has been submitted. the deadline was last night. if you are going to release any of that 7.2 billion euros, you are going to have to have finance ministers meet -- that is unlikely to happen this week. but that cuts it awfully close to. -- close. 3.7 billion in new tax collection -- the biggest chunk is 875 million from offshore accounts. that is essentially a tax on wealthy greeks that half money stashed away abroad. there is another 350 million in streamlining tax collection another 350 million in selling broadcast rights. all this isn't impressing brussels.

the risk of greece thinking under the burden of its debt has increased. repayments of about $542 billion owed to european taxpayers, rescue funds, banks, and bondholders are in jeopardy. joe weisenthal joins me here in studio. thanks for your time today. three european officials asked not to be identified. they said greece's proposed plans to fix finances still need a lot of work. why is greece having such a hard time convincing international creditors, namely germany that it can get a deal done? joe: i think that is the lack of specificity each time. greece seems to be moving closer toward saying exactly what it will do, but still has not gone that far in detail. then, there is generally a lack of trust. people feel the greek government cannot commit by what it says it is going to. the european partners know there is a lot of division within prime mr. tsipras's own party. they have not established credibility with partners that says, we are willing to have outsiders observe us so we can get funding. mark: as far as prime minister tsipras is concerned, ar

one of those has to be greece.ow would you handicap what is happening in greece right now and the danger it poses? >> i think greece is -- if the situation were to deteriorate, that is not good news. i think this is not at all what i predicted. greece would out of the eurozone. that would create a lot of volatility. the attitude would spread to the eurozone. i think should not be conflating the ability we have seen in the last year or so. we know that market sentiments switch and can switch suddenly. i know that this is not the same position. we have a banking union and a mechanism for banks. we have a lot of pillars that can affect the rest of the zone from volatility. i don't think this is going to be enough. the idea that there is the possibility of getting out, i think that would be a huge shock. the market will test it. it would be affected. we will go back to a. time of uncertainty. we know the zone has been improving. guy johnson: what would it take to make greases membership sustainable? >> frankly, i think

betty: hans nichols on the latest in greece. moving and shaking this morning, prudential insurance's boss has been given the top job at credit suisse. he will face some big challenges . he told bloomberg the bank has huge potential. >> it is a great institution, phenomenal brand, the people. i have known them as the ceo. there is huge potential there. betty: i'm a little queasy watching stocks trade as of late. heading in the red after rebounding yesterday, extending the six-year bull run. i want to bring back michael reagan. what caused the rebound yesterday? >> friday was a bad day. the jobs number came in way stronger than forecast which had everyone worrying that the fed interest rate would come in earlier than expected. rti international metals got its offer from alcoa. today is more similar to the story on friday. richard fisher of the dallas fed , he is not going to vote in the next meeting. what he had to say caught people's interest. the fed cannot wait to long for these interest rates. they run the risk of overshooting

olivia: greece and its creditors are far apart. the country has submitted a list of economic reforms. officials tell bloomberg it is not enough to make them give more money to greece. corporations based in indiana urging leaders to revise a law. they want to make sure it cannot be used to discriminate against

greece faces a cash crunch and there is no real resolution in sight unless greece starts implementingsome of the money will start trickling out. >> thank you very much. >> coming up, thousands march in moscow in memory of the murdered opposition leader, boris nemtsov . how does his death change the political dynamic in russia? we will have the report from moscow after the break. ♪ >> looking at the foreign exchange market. where were you on the 18th of september 2003? that is where the dollar has been today. that's the highest it has been. yesterday the san francisco reserve governor. u.s. unemployment will fall to 5% by the end of the year. broad-based gains in the economy, positive consumer development. it is jobs week. the most recent voice would be the san francisco fed with a bullish view, taking the dollar to new 10 year highs. china cut their rates. but normally drives the aussie dollar a little bit higher. it is china versus the reserve bank of australia. you are seeing the aussie dollar down over 4/10 of 1%. traders are betting australia a 60% possibility the rba will cut rat

. -- greece's prime minister. "street smart" starts now. ♪ alix: here are the top stories that you are watching ahead of the closing bell. in new york, stanley fischer said that raising interest rates may happen by the end of the year. >> the interest rate is expected to lift off by the end of this year. the normalization of monetary policy gets underway. the extraordinary monetary policy accommodation that the fed has undertaken in response to the isis has contributed importantly to the economic recovery. although the economic recovery has taken longer than we expected. alix: deutsche bank is weighing three options to raise the firm's prosody -- profitability that would see it security units scaled back. one option would shrink the investment bank by almost 1/5. the bank is also considering shrinking its interest rate finance business and hedge funds in order to lift returns. the nfl suspending its controversial television blackout policy for the 2015 season. the announcement means that all games will be televise

>> can greece create additional wealth for its citizens? probably, with a currency lower than the euro to be competitive. in a normal situation, with tight competition they have good tourism, they have good industry for shipbuilding and restoration -- [indiscernible] i think they should have the freedom to use a national currency. [indiscernible] francine: what does it mean for the rest of europe if they decide to leave? it is not a lehman brothers moment? >> the euro has nothing to do with the greek situation. sometimes the euro goes up. [indiscernible] even when the greek -- [indiscernible] a few years ago, it was different. [indiscernible] francine: let's continue to talk currencies. jeffrey joins us on the program. this former french president was saying that there is such a thing as a euro that is too low. you don't agree with that. >> i do. if you look at the model, the euro is well above. this is a competitiveness windfall for markets on top of the current account windfall that they have already have. this can start to exacerbate som