deutsche bank ceos anshu jain and jurgen fitschen will step down.hn cryan replaces them and will work with jurgen fitschen until his department next year. francine: deutsche bank shares soar on the news. a standoff with creditors continues. the greek banking system is secure, according to the finance minister. >> it seems to be under control. the people seem to be well supportive of the current period, taking into account the economic situation. we do not face any real problem in the banking sector. manus: turkey j.k. rowling ak party has lost votes in parliament. it is a blow to the current president, erdogan. turkish stocks are plunging on the news. francine: jonathan ferro has more. jonathan: we pull back this monday morning again. the ftse dead flat. it would be lower if it were not for a speculation of a takeover. the dax is off by 4/10 of 1%. it would be lower if it were not for this. i will show you the big mover this morning. deutsche bank stock over 6%. over 8% at the open. anshu jain and jurgen fitschen stepping aside and you will see one

but it looked like they were going to give anshu jain and jÜrgen fitschen at least another year to proveey could get their strategy through and no one would have picked this guy john cryan, who is on the board, as the likely successor. this was a complete supply. scarlet: how likely is he to deliver on this strategy as outlined by anshu jain? cryan is crisis experienced. when he came on board it was 2008 when the subprime mortgage market was declining. ashas this reputation someone who can crunch the numbers, understand the numbers, and pulled through the execution. that is something deutsche bank needs as they go into the strategy. does this mean, that deutsche bank will remain committed to the universal ranking strategy? christine: certainly all of the language in the press release was this is going to be to further their strategy 2020, which is what they recently announced in april. there's no indication they are changing the strategy. one of my colleagues talk to a very top investor at deutsche bank yesterday, and he says what he is waiting to see is not only if there is execution of

the management team of anshu jain and jurgen fitschen coming under fire.hey're replaced by john cryan. we'll get more from you're colleagues in frankfurt, that's a big one. 39% of the shareholds voted to get them out. >>> syngenta reporting a second takeover of monsanto. the swiss company saying it made no attempts to discuss. jed, monsanto reportedly pay to syngenta if they can't get a deal. the u.s. economy is going to expand at a lower rate than first expected. it puts a 2.4% on gdp growth. that's down for the forecast for the national association for business economics announcing that the soft patch could force the fed to raising rates. what do you think? >>> in noble news today, japan's economy much faster than expected in the first quarter. gdp to a 2.9%. it had been 2.4%. in china, imports and exports shrinking again. economists say it's likely to add will add pressure on policymaking in beijing with a slump in that economy. and in turkey this weekend, national elections and erdogan's party lost its parliamentary majority after 13 years in power, af

fitschen handed in their resignations after shareholder discontent. john cryan has been named ceo of germany's largest lender. he will join the company on the first of july and share the role with jurgen fitch and -- with juergen fitschen. most recently in april, the bank paid u.s. authorities a fine of $2.5 billion to settle a rate reading case. let's check on the markets -- a rate rigging case. let's check on the markets. investors are reacting positively because john cryan's appointment is seen as a fresh start for the bank. let's get a check on how the turkish markets are reacting to these election results. the benchmark index, the bist 100, is trading, down 6.8%. the forex depository is cut for -- all major indices are in negative territory at this hour. to greece, were the government spokesperson has that political wrangling between the country and its creditors continued over the weekend. speaking friday before parliament, alexis tsipras called the latest european offer on the table absurd. those comments struck a nerve with the european commission president. jean-claude juncker says that he is no magician. take a listen. >> i have said time and time again that it is out of the

jurgen sachin will step down. they became joint chief executives at the bank in 2012. deutscher says jain will leave. currently a member of the supervisory board will become co-ceo and take control when fitschen leaves. the resignation follows financial missteps and regulatory penalty at deutsche banc. we'll watch the shares as they transpire in the premarket session. high drama at the high court today. the supreme court could issue its ruling on the affordable care act. the high court decides whether consumers or three dozen state and use the federal health insurance marketplace can continue to receive subsidies to help them purchase coverage. if the court finds the subsidies illegal, millions of people see their health insurance bill spiked dramatically for state money to drop their health insurance. the supreme court could also rule on same-sex marriage. a century-old stock market tool. as some investors worried about a correction. nicole, a correction meaning about a 10% selloff. everyone has had the jitters because hussein record high after record high. >> "the wall street journal" putting some investors to watch the technical trends in the stock market debate whether stocks are heading