the bail-out program which has kept the greek economy afloat was due to end on december 31st. the greek economy was confident it only needed a small extension before coming self sustaining once again. tight are controls over the way that greece spends its money. john siropolous has more from athens. >> the economy is still essentially under supervision and the europeans will be relying on the imf supervision to focus on the terms and conditions of their loan. the greeks say they have, the europeans are not so sure, they think a couple of billion dollars of money the greeks say will be owned from tax revenue they don't believe will be there. but the european central bank which will cover greece's needs in the event of any such contingency. >> joining us now is megan green, chief economist, formerly the euro zone expert on the crisis group. what do you make on this extension? >> i think an extension was inevitable. government is trying to spin it as a big victory. that's probably why they've pulled their election forward for about two months from february to late december. the t

you have the greek economy. it is not the same greek economy we had to wonder half years ago.conomyt the same when we had the first crisis. it is expected to grow .7% next year. its budget deficit this year is said to be less than 2%. many countries in the eurozone could only dream of that right now. at the start of the crisis it was 16%. borrowing costs are about 9%. still on sustainable but the economy is in better shape and much better to sustain some of the turmoil we could get into if we get a general election. >> elliott, enjoy athens. still with us is bob parker. let's talk about the politics about what is going on in greece. the selloff -- does that play into the prime minister's hands? >> to some extent. 10-yearad between greece and 10-year bonds has widened to over 8.5%. i can make the statement that over the last three or four years, greek borrowing costs have come down. if you are having to refinance debt at a level at close to 9%, that is clearly an unsustainable situation. grow by 2%onomy will plus next year, but let's not greeks that since the crisis started in

is the greek economy at risk? we'll discuss that with the former finance economy minister of greece. >> welcome back to "the pulse." >> these are the "bloomberg" top headlines. >> the barninge of japan has maintained its levels. the bank said it will boost the monetary base at an annual pace of 80 trillion yen. ey expect the japanese government to maintain its recovery. >> the hong kong monetary authority says there was no evidence of market manipulation found in its probe. the authority says there was one suspected attempt to influence anation currency benchmark fixing though there was no evidence that this actually affected trades. >> a plan to swap natural gas assets has fallen through. the world's biggest chemical maker said yesterday in a statement the cancellation will cost the company 324 million euros in current and retro active expenses. now, the deal marks one of the hardest blows yet to a german country as relations continue to decline. speaking back in july they had told "bloomberg" he was certain the d

the infrastructure of the greek economy remains strong.hould remind our viewers that over the last eight months, we have had positive comments laid by all parties concerned concerning the greek economy. what has happened all of a sudden in order to force everyone to subscribe to these doomsday theories. >> good morning. what we don't need is a political instability. -- view, point of the that is clear. political stability is of paramount importance. democratic procedures are also of a democratic -- paramount importance. any potential failure of the vote on the 29th will continue negotiating along the european byameters which of been set european partners. think all of a sudden the greek economy is going down of the doldrums. this has been per trade over the last two and a half weeks. i do hope that at the end of there is as, president elected so that we avoid an early election. i have pointed out the last thing the economy and the market needs is an early election. elections should take place every four years. >> to the point of political

consumer on spending on healthcare helped the economy. greekns failed to elect a president in a second round of voting. the conservative government candidate received 168 votes and short of the 200 necessary. a third and final vote is set for december 29th, if the parliament doesn't elect a new president then it will have to announce an early general election. fears of more political uncertainty in greece are weighing on its financial markets. the greek economy is slowly returning to growth after a six-year recession but a major obstacle to recovery is banks that are not lending to businesses and consumers. john reports from the island north of athens. >> reporter: the shellman factory used to be one of the noisy places on the island. this is where the greek construction industry ordered much of its plywood and chip work giving work to 1200 families n the crisis the construction industry collapsed and shellman did not replace the business with exports quickly enough, in a chilly day in february last year workers owed years of back pay and downe

the terms of the financial assistance package that have been shoring up the greek economy over the last few years are about to be renegotiated and with greece' place in the eurozone on the line, it seems there is some voter fatigue among greeks who are tired of making decisions that could affect the rest among europe. >> the main suspect in the mumbai terror attacks has been arrested again in pakistan. seven suspects are being tried in the country in connection with the attacks which killed 166 people. an antiterrorist court had granted bail earlier this month, citing lack of evidence. that was an embarrassment to the pakistani government, which had vowed to crack down on extremism, but police rearrested him on another case. >> the ebola patient in britain has been transferred from glasgow to a specialist hospital in london. she contracted ebola while working as a nurse in one of the worst affected ebola countries, sierra leone. >> the mythical convoy heads into britain's specialist isolation unit as the country's first case of ebola diagnosed on home soil is transferred from glasgow to

. >> the greek economy is returning to growth. an obstacle is banks are not leaning to businesses and consumers. that may cause a number of enterprises which managed to survive the crisis to collapse. we have this report from an island north of athens. >> reporter: this factly used to be a -- factory used to be a noisy place, where the greek industry ordered plywood, giving work to many families. it collapsed and sellman didn't replace business with exports. on a chilly day in february, workers owed years of backpay downed their tools. this complex that took half a century to bill fell silent. this man worked his life here >> translation: we ended in a difficult situation. some were tired and died of stress. one man tried to commit suicide. some took children out of schools and universities, because they couldn't pay. >> reporter: his wife and children are unemployed. 2,000 succumbed to shellman's fate. many could have been saved if they could have borrowed to operate. despite receiving more than 60 billion in taxpayer money, bank

the potential of what the greek economy can deliver. then you highlighted the difficulty.r gets this wrong and he has to call general elections in the start of 2015, , are thosessible economic numbers going to turn out to be real? >> of course. the economy's numbers are so good that any successive government will have a much easier task in negotiating with the troika. i think that in the event of a change of government, we may have some turbulence in the markets, but at the end of the , political instability will prove much milder than what many people believe. i think, at the end of the day, any government will take the right measures in order to sustain stability in the economy? . >> i am surprised you say that. the prime and mr. has made it clear that it will not be business as usual and that the game -- one of the candidates that -- the prime minister has made it clear that it will not be business as usual and that the game will change. all the parties are saying a lot of things to try to gain power, but at the end of the day when they become the government, they go fo

we have got some fairly busy days coming up for the greek economy. >> merry christmas to you, to sue.k you -- too. we will do corporate news whom he come back. heidelberg cement solidifies a deal. it is selling a business unit for $1.4 billion. ♪ >> 45 minutes past the hour. i am "on the move -- you are watching "on the move." i'm guy johnson. is caroline hyde. >> it is sending smith and nephew to the highest on record. top of the leaderboard when you look at stocks. is goinglike stryker to bid in a couple of weeks for smith and nephew. the stock is already up about 26% on the year. the reason is back in may we understood that stryker was looking around, potentially bidding. it sent the stock higher, but the bid was not made you to tech rules. they had to go away -- not made due to u.k. tech rules. they had to go away. back in may, all the fashion was to leave tax inversions. it was about u.s. companies coming to the u.k. to make the most of a lower tax rate. that is not on the issue. too much political risk. the u.s. may be cutting down on these types of deals. now it is all about sy

the greek economy is slowly returning to growth after a six year recession. but a major obstacle is banks that aren't lending to businesses and consumers. reports now from the island, just north of athens. the shellman factory used to be one of the noisiest, this is where the industry ordered much of it's plied woo, giving work to 1200 families, in the cries yeses the construction industry collapsed and shellman didn't replace the lost business with exports quickly enough. on a chilly day in february last year, workers owed years of back pay down to their tools. this complex that took half a century to build, fell silent. some people got tired and died of the stress. some took their children out of schools and university, because they couldn't pay the expenses. >> two university educated children are also unemployed. >> about 200,000 degree companies have succumbed to shellman's fate during the crisis. many of them could have been saved. they had been able to borrow in order to keep operating. but despite receiving more than $60 billion in taxpayer money, ban

election >>> fears of political uncertainty in greece are weighing on the financial market the the greek economy is returning to growth after a 6-year recession. a major obstacle to recovering is banks not lending to businesses. we have this report from an island north of athens. >> translation: the shellman factory used to be a noisy place, where the greek industry ordered plywood and chipboard, giving work for 1200. in the crisis the construction industry collapsed. shellman did not replace the lost business with exports. workiers last year downed tools. this 40 hectare complex that took half a century to build fell slept. this map worked his life. >> we ended up in a difficult situation. some were tired and died of the stress. one man tried to commit suicide. some took their children out of schools and universities because they couldn't pay for the university. about 200,000 greek companying succumbed to that fate. many could have been saved if they had borrowed in order to keep operating. despite refusing $60 billion. lancs have all but stopped lending. during the crisis many consumers and bu

now, the international bail out of the greek economy seems to be at risk, politicians have failed for time to agree on who should be the country's president now, greece faces a snap election on january 25th, and the opposition says it will renegotiate the terms of the package. this is the children's welfare foundation. home to or fans and vulnerable children for 160 years. it's funding comes from a large property investment portfolio, but tough posterity measures including enormous taxes designed to fix the economic crisis have broken. it's director told me what happened when he met the prime minister, and asked for help. >> he told me that it is a big issue and cannot solve it right now. >> an election at the end of january, could bring this party to power. enforced by international lenders including the european central bank. >> how are you? nice to meet you. >> i asked a senior figure what they had to off the likes of the star foundation. >> we feel that a newly elected government, mulled immediately do something for the people, that are really suffering. >> how do you plan to make

concerns over the chinese and greek economy sent the dow down more than 200 points early tuesday.ut then by the afternoon there was a rally, it lost just 51 points. a wild day yesterday. the s&p closed down the nasdaq ended higher. crude oil prices also rebounded after hitting a five-year low on monday. oil put in perspective has lost most of those gains overnight. prices have fallen nearly $40 from june highs. >>> big news in detroit, the city will come out of bankruptcy.the court allowed $1.5 billion spending to improve essential services like police, fire and sanitation departments. got to pick up the trash and you got to answer the 911 calls. the 61-year of bankruptcy was the large nest history. the city's turnaround was a rebound in auto sales and boom in construction. >>> what is the best company to work for? google outranking everyone else thanks to outstanding pay and fulfilling work. that's according to glasswork a job site that asks employees to rate their employers. nestle's purina pet care, bain & company, f said 5 networks, boston consulting group. they said it was th

economy. paul mason of independent television news reports. >> reporter: in the greek parliament they vote onee. by the end of it all eyes were on this man. alexis tsipras, leader of the far left syriza party, submerged in a media scrum, but potentially on the brink of power. "the future has begun," he said, "be optimistic, and glad" but the market's weren't. the greek stock market plunged by seven percent, and the cost of government borrowing rose. two years ago tsipras was still effectively leader of a small protest party. his typical interview venue was the street. then came austerity. imposed by europe, resisted on the streets, increasingly with violence. but as the austerity drained political goodwill towards the centrist parties. today, one poll put him 6% ahead. by 25 january europe could have its first far left government. the snap election leaves the greek prime minister, and the whole european strategy of austerity in greece, fighting for survival. >> ( translated ): to rid of us uncertainty we will establishh stability. >> reporter: the greek economy shrunk by a quarter in five year

we are getting into projections arguments and how much more pain the greek economy can enter. that does not bode well -- endure. that does not bode well. >> join us on twitter and let us know what you think of the show. manus wants to grade himself out of 10. 8 out of 10. >> it is a chinese lucky number. @manuscranny. we are always here. >> at lesson on alternative ways to raise capital. a chief executive from a crowd funding service will join us. we will hear about the risks of crowdfunding it next. >> welcome back. it is time for company news. bangovernment has uber indefinitely after a driver was accused of rape. the ceo vowed to bring the perpetrator to justice. g uber inre banninh portland. they say the company violates laws because they do not have licenses to operate. poses anthat uber immediate, real, and substantial threat. uber driver who killed a six-year-old last new year's eve has been arrested. bailriver was released on and is going to be charged later this week. >> let's take our focus to the startup sector. the rise of alternative finance is disrupting capital

it means a period of instability, which is bad for the greek economy.rts over the last 10 days that tourist booking for the summer are less than they should be because now, with christmas holidays, a lot of people have time to book the summer holiday and they are booking less in greece. about dealsrts about mergers and injecting money into the economy is on hold because of this. five weeks extra uncertainty until the election day. setback be a temporary to the economy. >> a few key dates. march 1 is when the extension to the program ends in greece. how big a focus will that be for the mind if we get into a general election? how big of an impact you think it will have? >> during the election campaign, i think this will help to focus the mind of voters. know that if they do not stay in a program, or if --kets believe they believe or if markets believe they will not stay in the program, they may be right back into crisis. the end it to the support program may help --. after the election, we probably do not have to wait until the first of march. if we had a

i'm just saying if it rolls -- you know, look at the greek economy. it was the strongest economy. e has been worried about the presidential elections. but everybody is thinking that's going to break up europe. but, you know, that certainly hasn't happened so far. i suspect greek actually grew 3% in the last quarter. it was growing strongly. i spoke to manpower in chicago basically and they told me employment growth in spain was up 20% in that division. so the actual headline numbers don't tell the full picture. maybe there is a bit of refer in europe, but we're not giving it -- i suspect it only happened if it's needed. >> we're going to leave it there. patrick spencer at buried, thank youer for your time. >> thank you. >> let's get you a rundown of what to watch this trading day. november housing starts are out at 8:30 a.m. eastern. new home construction is expected to rebound after a surprise drop in october. and building permits are expected to slip after hitting a 6 1/2 year high in october. now on the earnings front, look for results today from darden restaurants, the parent o

government and a new government will discuss now with the european union about the future of the greek economy and the greek debt. if this was not done, there would be a situation of not rm knowing what is to happen and crisis is not a good thing. >> if there were to be a snap election two months down the road, what do you think this means for greece's bailout situation? >> this depends on the result of the elections. if the president government has a gain in majority but want to continue the present policies with the european union, i think the result will be very positive as far as the debt is concerned because the european union wants to finish with this questions. and amend to all these discussions. if a party is elected that does not accept to the conditions and wants to change many points of the loan contracts and strong, then this will create more instability. >> if things go according to the prime minister's plan, how much flexibility do you see coming from the troika? do you think greece will be cut a bit of slack from the eu and in particular from germany after the elections, i think

>> that has always been a problem with greece, it's never clear what the linkages are between greek's economyomy. >> the european economy -- >> the stock exchanges down 11%, the biggest drop in six years according -- including the crisis. >> a headline earlier this morning about japan issuing default ratings being cut. you have a lot of moving parts as we discussed will stop in any case, betty liu will be monitoring the market of elements, including the recent lower in u.s. futures. thank you so much. comingiu, "in the loop" up 8:00 a.m. on bloomberg television. ♪ >> good morning, everyone. spence with the most important on the financial crisis, we will speak with michael spence about the new mediocrity and a number of topics. looking forward to that in our 60 block a.m. our tomorrow. we say good morning. markets on the move, -7, no big deal, all of a sudden -15 with some real turmoil. let's get to top headlines. here is scarlet. new spacecraft reaching san diego after a successful test flight ins with a plunge into the pacific ocean. a navy ship delivered the capsule and unloaded it. orion w

i think the greek economy has performed very well over the last six months. we thought the good growth figures in a different department would manage to commit the first data budget in more than 40 years. we have moving along with the reform package and it could be a pity not to continue on this path. >> it almost looks like that greece is facing some structural problems that are going to remain present no matter who wins in the election. unemployment is going to -- growth is going to be slow. structure is an issue the country is facing to actually bring foreign direct investment to tackle the tax problem. i don't think there is an easy way out of the situation. >> we are still faced with an upsill trugel. on the other hand, if you look at the number of structural reforms that have taken mays i still think it's quite remarkable. we've managed to shrink the size of the demonstration. you mentioned foreign direct investment. i can tell you there are a lot of foreign investors who are very interested in investing in greece these days. obviously they want the pol

greeks celebrate it. their economy as we know this week is still suffering with a lot of problems. dierdre: indeed. can't beat some of those shots. "money" starts now. have a great show. >> thank you very much. hello, everyone, i'm cheryl casone in for melissa francis. we're set to hear from the president as the house narrowly avoids a government shut down, approving a trillion dollar spending bill with only hours to spare. >>> new details surrounding sony's hack attack, including angelina jolie face-to-face run-in with sony executive after emails calling her a spoiled brat. this scene is awkward. >>> we'll tell you why clouds filled the grand canyon. look at those pictures. >>> from hairstylist to your handyman, how much to tip this holiday season. even when they say it's not it is always about money. cheryl: we begin with market alert, markets seeing red to the lowest since october of 2014. we have tony sayegh, fox news contributor. jack, to you first, very volatile week and volatility is name of the game looks like. >> absolutely it is crazy. stocks have gotten more expensive. s

the dow fell because of nerves over a slowing chinese economy and 13% drop in the greek market. but the market closed higher today. a report shoud that small business optimism rose last month to its highest level in eight years. one week makes a big difference for san francisco's lending club. it's raised the new price for its upcoming ipo. this week the company values it at $12 to $14 a share. >> the korean airline executive who allegedly went nuts over notice has resigned. heather cho got upset after a flight attendant served her macadamia nuts in a bag, rather than on a plate. he demanded the crew chief be removed from the plane. cho is vice president of airline and daughter of the airline as ceo. the airline has since apologized. >> still ahead, no more getting stranded. we're going to tell you about the late-night public transportation service that will soon roll out. >> and a powerful storm forcing hundreds of flight to be cancelled. >> change your move by changing your walk. the steps you need to take. >>> bart is launching a one-year pilot program to extend their all-nig

economy. >> we will bring you live coverage this wednesday. the greekme minister says he could be facing a setback in his plan to free greece of oversight from the international monetary fund. greece is excepting a full role for the imf in its next aid yield. >> oil, -- coming up, oil, china, the ecb. we will be talking about all that with our next guest, george magnus. stay tuned for his inside at the head of the market open. at the head of the market open. ♪ >> time for today's news. how low could opec go? what sort of level are we talking about? the title is oil at $40 possible as market transforms caracas to tehran. you can find that story on bloomberg.com. production can continue to flow as prices fall below day today to day costs. some u.s. shale producers may breakeven at $40 or less. most of the share producers return cash at $42 a barrel. the's why the title of story is oil at $40 possible. let's check out brent crude since the beginning of 2014. it's pretty clear what has been happening since the middle of the year. today falling to $68 a barr

economy? we can talk about a stunning decline in greek equity.he move over the chinese stocks in the last month as an something else. >> it has. we have seen significant volatility. one of the aspects we see from china's point of view is that as they have developed economically, the capital markets have not caught up with that. in terms of the underlying liquidity to the market, the ability to buy and sell stock. those who have opened have gained access to the chinese market and are restricted from selling. that is not good news from a price perspective. we would expect to see more development of the capital market system from chinese authorities to try to match the economic development. all you see when you look at the isolated stock indices is a level of immaturity and under development in terms of price volatility and liquidity. >> very quickly, that is not going to end well. what is your view? >> is not, i don't think. the picture is you tread with caution in markets like that. there will be an increase in volatility. liquidity is in both way

economy. also coming up, the greek prime minister's gutsy move. ♪ >> >> welcome back.ou are watching "the pulse their co-it is a big day in athens. let's go to athens now. the weather is not so good. elliott gotkine joins us from there. walk us through the day. all this political uncertainty right now. if i lift up my umbrella, you can see where it is going to take place tonight at the parliamentary building. three key numbers to watch for. 300, that is the number of lawmakers. 200, the number that need to vote in favor of the prime minister's presidential nominee in order for us to not need to go to a third round. [inaudible] --t is when we get to 101, after each lawmaker's name has been called out, you know it is game over. one of the key things to look for will be to see how many votes samaras gets. you will get an inkling as to whether he will survive the third round. >> what are we hearing from the independence? what are they saying about whether or not they will back the government or whether or not they are prepared to see elections that could put syriza in powe

the greek, obviously it's all the euro. >> yeah. >> however greece's economy has.ggard for years. if there is any chance at all they leave the eurozone and the european monetary union and go back to the track ma, maybe -- track ma, maybe that would lift an anchor or weight off. >> i think the way the markets are taking it in stride not building in a probability of a radical move like that. i think the real takeaway, any, what does it mean for people's building expectations for what the central bank does. clear sailing to aggressive policy next year and does this have to slow them down? they're meeting in january. do they have to work around the greek election. that parlor game as opposed to is the euro going to hold the question we had in 2011. >> thank you very much. michele still out there, thank you as well. bring it back to the u.s. holiday shopping season. yeah, most of it is over and a few retail habits are known like our next guest. gerry storch former cease of toys r us and joins us now with his three big themes for 2015 and gerry, once you become ceo i hop

economy. crude oil rebounded on speculation that prices were -- a bid by the greek prime minister to elect a new- ensuring he falls short of the 200 votes for his election as president. the prime minister needs a two thirds majority to win. if you fails in the third attempt on december 29, parliament is dissolved and early elections will be called. bill ackman has launched a new attack on herbalife. he's calling herbalife a pyramid scheme. distributors have -- he spoke exclusively with stephanie ruhle. we don't know much about them. a number of them have come to us and say they are scared. i want to be protected. what if the companies whose me? -- sues me? we have been -- >> how does that work? you guys don't have them on salary. >> that is correct. >> herbalife has continually denied being a permit scheme. .- pyramid scheme the post-fed reaction -- , ira jersey and lisa abramowicz. now, mia saini is standing by with market reaction. have taken tos this news. we are seeing green across the board on this wednesday. we learned of the projections that 15 of 17 fed policymakers see a rate change in

crisis began the economy has contracted by 25% and creditors want to see more than what particle sacramento offering. >> parliament just received breathing room to get there. >> the greekinance minister wasn't set for an easy time in brussels. greece wants to wind down their international bailout program and wants to avoid other ossterity issue measures but they are not convinced they met the conditions for the current bailout. now euro zone finance ministers have agreed to a two-month loan extension. >> in europe we have the principle that is rules apply to all. in emergency situations we say it is depends on what is possible and what each country is capable of achieving. >> they approved a new budget for 2015 forecasting growth and low deficit. leaders hailed it as greece's first balanced budget in a long time. but it failed to impress the international creditors. european commission and the imf saying the budget is too optimistic. there is a gap of at least 2.5 billion euros in greece's budget next year. >> okay. with creditors approving a two-month extension to the bailout let's go to brussels to find more. why just two months? what comes after that? >> the so-call

they moved up elections for the greek president unexpectedly by two months some that put pressure and uncertainty in europe where you have uncertainty about the economynd the like. right now you can take a look at the vix, the fear index, we've seen that sitting six-week highs. it was up 14% today. now it is up 8%. gives you sense of volatility and nervousness on wall street. oil hit five-year lows. we've seen energy is the worst sector of the year 2014. though today it is really bouncing back. actually the best sector of the day followed by utilities and information technology. that is some areas of strength. telecom, melissa, has been particularly weak today. back to you. melissa: nicole, thank you so much. ban on hiring smokers. one arizona county could go that far in order to save on health care costs. plus why it pays to be bad. nba hall-of-famer dennis rodman is here with a few surprises. here he comes. you know he is making money. we'll be right back. ♪ dad,thank you mom for said this oftprotecting my future.you. thank you for being my hero and my dad. military families are uniquely thankful for many things, the legacy of usaa auto insurance c

economy recover as part of a two-year plan. but medics say their priority right now is treating patients. dominick kane, al jazeera. >> police fire fear gas at protesters who are protesting in the greek capitol. thousands of people took to 9 streets of athens to mark six years since police shot a teenager during a protest. let's go live to a athens, john, why is it worse this year than previous years. >> reporter: it's the police's bad luck that a friend of the boy who was shot six years ago is in critical condition of a hunger strike. he insist that he be allowed out on leave to attend university courses on university campus rather than in his cell. this is a major point of contention between the justice ministry and the boy's family. it is reported that his condition is critical, he could be slipping away in the next few days. that is if you like the the single event. it is due to the under lying factors. we met with a lady who is looking for her 16-year-old daughter who she said ran off with her friends. we asked why did she run off? she said everyone is angry at the educational system. there are no jobs. youth unemployment is over 60% here. they're angry that their future has bee

the reason it's political the greeks have paid a great price in terms of the insult added to the injury of the recession losing sovereignty over their own economy. maybe this government may head into an early election next spring it would like to go into that election without a memory rumemorandum hanging over its head. it would like to be able to say we're doing much better. let us off, please. >> john, thank you. reporting from athens. >>> now six former detainees from guantanamo bay detention center are starting their new lives in uruguay. the four syrians and t to t tunisian are now free men. >> reporter: uruguay is so far from the six men's homes which for now they cannot return to. but it's also a long way from guantanamo. that to me is what counts. they've been treated at two hospitals before their resettlement program begins. >> he's hopeful now that he's out and free with proper medical care here in uruguay he can get better and rebuild his life. >> uruguay is providing the men with education, housing and will help them to find work. for now they're just relieved to be free with a burning desire to be reunited with their families. thei

the economy's taking a hit from falling oil prices and western sanctions over the ukraine conflict. >>> two albanian sailors died while trying to secure that greek ferry that caught on fire killing at least ten passengers. that's according to police. the sailors were reportedly trying to attach a line from a tugboat to the crippled ship which is still drifting between the coast of italy and albania. the fire broke out on a car deck on the vessel. rescuers reportedly saved more than 200 passengers. they're still searching for possible missing passengers because it's unclear how many people were on board. >>> the tiz lammic state is stepping up its propaganda campaign after it captured a coalition fighter pilot in syria. the u.s. is disputing part of the story in the group's online magazine. plus an about face from lawmakers who once threatened to break a reporter in half. that congressman now saying he will resign after a guilty plea that could send him to prison for years. that's coming up on the fox news deck. more headlines from the fox news deck. funeral services under way after a fire tore through a shopping mall in pakistan's eastern city o

going to lead to a double dip recession to additional massive job losses to greek style debt crises and we're seeing an economyy, americans finding good jobs that they want, wages going up and all of this was in spite of republican obstruction at every turn. republicans need take a look at how they work with this president as opposed to against him. >> and he's got 48% approval rating. what is he going to do with it? >> well, i think he is going to focus on that we still have a lot of work to do and that there are still a lot of americans out of work because he's been obstructed at every turn. so hopefully republicans who now have a responsibility to govern and it's interesting that lisa said that you know, yes, they had a great day on election day in november, but there was a poll that came out right after that saying that half of americans thought it was a bad idea that republicans now had control of both houses of congress. that's what happens when you have an election where only 36% of the american people come out to vote. >> there's also the poll, lisa, that says that 49% of americans believe that the pre

greek parliament approves in your bailout. in june, antenna summer rest becomes prime minister. real relief only comes when ecb president mario draghi foust to defend the euro. by 2014, the economying again. for the first time in clutter years, greece sells bonds. the anti-austerity party wins big in european elections. to regain the initiative, the government brings forward presidential elections. will it work? gotkine is live for us in athens this morning. all of the action tonight is going to be happening just behind you in the parliament. walk us through exactly what we need to keep an eye on. >> that is right. the 300 members of the greek parliament will gather in that building behind me. it is set for 7:00 p.m. local time. we will probably get going a little bit later, just under 12 hours time from now. each member of parliament will have their names called out and will be asked whether they support the prime minister's nomination for president, and if they do, they will say nay, which means yes in greek, or if they don't, they will say paron, which equates to an abstention. the prime minister means 200 out of 300 votes to get his nominee through this around. very few peop

greek voters to what goes on in financial markets? we have spoken before about argentina and how unusual it is that the people there have been forced to become kind of closet experts on the economythis seems like a very difficult to manage business. it is even difficult to manage one's personal affairs when you have no idea the value of the currency tomorrow. >> this presidential election goes to parliament, not the voter on the street. do is swingrying to the additional fringe party voters. >> the parliamentarians. >> i think they are. you have seen two rounds of elections where people were faced with a real abrupt change and they backed off. if you look at the general sense of it, look at the scottish wrote. when people are faced with what might be a scott -- catastrophic vote, they back off. in some ways it is helping him and what he is trying to do in these elections. you could make a much broader argument that he has mismanaged the dialogue, but i think that what he is doing now is probably the best that he can. >> do you think that there might be a knocking affect on the rest of europe? we all got nervous, even over here about it. this is juste political turmoil and econom