we will speak to the former italian prime minister mario monti.tay with us. ♪ manus: is very welcome back to "the pulse.” german factory orders sale in may compared to a month earlier. orders gained 4.7% on the year. that was almost a full percentage point higher than the estimates. rolls-royce cut the guidance for full-year profit. they set a lower oil price will weigh on is over sure markets. they said of the revenue target is unchanged. the stock is down 9%. yanis varoufakis has announced his stepping down as greece's finance minister. he said the decision after he was made aware a certain preference by some participants for his absence from the meeting. he went on to say he considered it his duty to help mr. tsipras as greece prime minister and he will where the creditor's clothing with pride. they resounding no from voters and referendum on austerity. how will european leaders respond? joining us is former prime minister of italy and former eu commissioner mario monti. thank you for joining us this morning. the vote for no mr. tsipras said em

if you look at mario monti after he implemented a program he went out with 3% of the vote. finished.s this seems like a problem for europe. anything that the creditors except destroys the government and the new get these radical figures. >> they promised people a better deal and that is not what they're going to get. even if they get a deal, they will find it difficult to stay in power if they have to implement it. joe: until we get something more extreme? >> the hope is they will fear ack. -- veer b alix: i want to bring up a chart what should scare germany and it is about 800 billion euros. the bank of greece owes the bundesbank. does that matter? >> i do not know where the number comes from. germany started to claim in that order of magnitude but greece's liability is above that. for germany right now what they are most worried about is a situation in greece being replicated elsewhere. so more worried than greece exiting the eurozone, they are about the potential for countries like spain or italy to move in that direction. intothey will have to give today most -- in spai

one of the scenarios in terms of kicking the can down the road is have a mario monti style technocratovernment. that looked likely quite recently when alexis tsipras lost a lot of support -- i think we are away from that position formally but to get through this package, he is relying on opposition -- that is what you have to do. ryan: you mentioned of u.k. -- we have the bank of england minutes coming out this morning. what are you expecting and what does it tell us about where we are going? there is a lot of headwind. simon: four days ago, this was expected to be another very boring bank of england minutes session. but mark carney's speech last thursday really change that -- he started changing the narrative from looking at the data to putting a timeline on this -- the end of the year being ready for higher interest rates. we have been there before, but i think the constraints in the labor market this time -- we are looking for signs of that moderate core at the center of the mpc. mark carney, christian forbes signs that they will join on the side of looking for higher interest rate

vonnie: mario monti, former prime minister of greece.not have a finance minister when talks resume. varoufakis resigned. one lawmaker says his departure will not make talks easier. in china, government attempt to prop up the stock market after a drop -- the shanghai composite rose but only because of gains in big state of companies like petro china. the government suspended ipos and increased central bank support. and boosted stock purchases. the shanghai composite has fallen 27% in less than a month. john kerry is tempering the optimism in the iran nuclear talks. kerry says negotiators in vienna are not where they should be. talks have gone on for 989 straight days. the u.s. says it will agree to a deal only. -- if it stopped iran's ability to make nuclear weapons. aetna agreed to pay $35 million for humana. anthem's proposed takeover of cigna could be next. cigna rejected a bid last month. both companies said to be interested in humana. the u.s. is the first three-time winner of the women's world cup. the u.s. raised to a 4-0 lead in t