let's bring in mark gilbert. thank you for joining us. you spoke to ceos. there is a little bit where we have to give greece more time. there is political will back by businessmen that we need to be tougher or not seen as slack. mark: we are no further along on how greece is going to meet the obligations and how they will keep the troika running things and satisfied enough. not a great situation. suppose we were put in charge of apple. we are bright people who know about business and finance. the government has struggled with jobs and it is about people and the relationship with germany has been abysmally disastrous. it is not a good thing to do. what the market and business is thinking is that this is taking too long. we are that from officials. it is about execution and getting plans in place to deliver on. there is little evidence the greece can do that. francine: we talk about political will. if there is in that agreement are we in a default? is it immediate that we leave? " you are not supposed to be able to get out. capital controls. those are the blu

. >> mark gilbert wrote a thoughtful piece that poses the following scenario, that the euro region economye recovering at a sufficient enough clip that the bond buying plan might be obsolete even before it is up to speed. >> i think we have seen an initial mood in the markets because their program was announced. i think mark is a little too optimistic. this is about taking blood pressure medication. dear go to the doctor and you have taken the medication and you say this is working. can i stop taking it and the doctor says no because, if you stop, the blood pressure will come back. so i think mark is a little too optimistic. i think a lot of what has happened has been propped up on the expectations of what is coming. i certainly don't think it's too much too soon. it's too little too late. >> you mentioned the bank of england. as you know, the u.k.'s watchdog has started an investigation the fraud office looking into the failure to spot the rigging of global markets. >> i'm not going to comment on it because it is an ongoing investigation. obviously, this is a concern. we will have to look

mark gilbert. a referendum on reform, the greek government is looking at the prospect of putting his proposals to the electric if they are rejected by the eu. if we get even greater demand for other measures, they may go back to a referendum as well. this includes hiring nonprofessional tax collectors to crack down on tax evasion. rebecca christie joins us from brussels. where do we stand with the view of the proposals that are put forward? there is a sense that they are not enough. >> today there is a meeting for discussion between the finance minister and his counterparts. it is not expected to be a decision day. there will not be a thumbs-up or thumbs down at the end. they can hope for signals that is moving in one direction or another. the greeks alike to get signals that people are receptive to the measures they are offering. the euro area would like to get ideas from greece that it will follow through on its commitments. if there are no signals, they will go the other way and people will regr

mark gilbert is here. this number is whether dependent. -- weather dependent. ke this number seriously? mark: don't forget what happened last month. you had a jump in wages and you have the treasury market trapped. you still have fed members saying june, june, june. strong data today keeps that very firmly on the agenda for the bond markets. in the currency market, euro through 1.10. it went through like butter and stayed there. guy: what was that move? once the europeans got hold of the book. were they looking forward or backward? mark: you have different rate outlooks in europe versus the united states. you have bond yield spreads better a quarter century wide. inflation is going to be deflationary more than the ecb admits. growth is not going to be as strong as the ecb says. lots and lots of evidence that things are much brighter in the u.s. there are a lot of people saying that they should have already raised. guy: thank you very much indeed. have a great weekend. we will see you one monday morning. ♪ >> this is "bloomberg surveillance." tom: there is a myst

humanities council, the executive director peter gilbert two amy cunningham, and the staff of vermont humanities for everything in between. thank you to mark for that wonderful introduction, and for inspiring me and all of us with all that you are doing at vermont historical society. i also come with greetings. from the connecticut humanities council to which only days ago i was appointed to the board. david, yes, there is a connecticut board. yes, we will be calling. yes, we do need you. [applause] i have to say that when i first moved, i stumbled into the civil war in vermont. i was a young assistant professor, didn't really know anyone. i did not yet have a dog. [laughter] i would try to amuse myself on the weekends and one of the things i would do, because i was a romantic, i would drive from amherst to vermont, hit the visitor station, it out of the car, look around, and go home. people would ask me, what did you do this weekend? i went to vermont. it was on one of those trips that i got braver and braver and went up a mountain. beautiful view. i got out of the car and there was an encampment. as might mention we stepping back into th