. >> do you think mr. renzi agrees with you as well? do you think mr. es that we need a change in the way europe approaches the financial crisis? do you think he has some common points with syriza as well? >> basically what tsipras did was to block the sale of the port and block the sale of the energy company. i think it is going against the memorandum which was signed in the last government. i think it is going to the right direction. we will see what is going to happen next. i do believe there is just one choice. if tsipras wants to achieve his program, seea an exit strategy from the euro. that is the only possibility. >> you think the only option is to exit? he says he doesn't want to do that. he says he wants to change the system from within. is that not a more pragmatic way of approaching the story? >> it is a pragmatic way, but we have to see if it is going to -- if europe is going to accept his renegotiation. we have to see about that. we do believe there is no ideology left. we have to talk and we have to work for the people for the european peop

he appointed mr. renzi to his position.t will be ceremonial, it is a very important figure in providing stability to a country which is had it evolving door government since after world war ii. >> the big name that a lot of people floated around i had of this was a mario draghi possibly taking over from a napolitano. what are the other names mentioned? >> mario, a former italian prime minister himself, had a very influential role in europe regional school for him as a candidate in the last election but do not get enough votes. is a complicated process. the candidate has to have a two thirds majority and get a drop down to a simple majority. his name is out there and has been mentioned. and there's also the possibility we will have someone who is a bit perhaps more low-profile and will be the get enough votes on both sides of the political spectrum, not just for mr. renzi's on party but the opposition as well. >> thank you. that's a bit of politics story coming out of italy. can -- dan liefgreen. a picture of the markets for

we are waiting for probably the most famous italian this week, not mr. renzi, mr. draghi.story surrounding these guys. >> qe and oil prices is what everyone is talking about. maybe a little bit disconcerting that not many people have an answer to it. is the nature of our business. these guys are trying to navigate their businesses. they are trying to navigate the world economy like the rest of us are as well. >> they will tell us what they think. looking forward to the conversations. back to you. >> enjoy the next three days. get the gloves ready. get the hats on. let's have a little bit of glamour in davos from both of you. see when a couple of days. as we head to break, let's look at the markets. we have turned. we aren't seven-year highs on day four of rising equity markets. just london is holding onto those gains at the moment. we seem to have just stopped pause in our tracks at the moments. in terms of stocks that are on the move, you have sports direct down 4.5% and the greek bank also declining. you are seeing a little bit of a turn lower. .4% on the dax. ♪ >> here

mr. renzi has an ally right now, for a few more minutes.e needs to find another candidate who will back his reform agenda, which as you know ranges from reforming the labor market to getting new rules in place on how italy chooses its legislature. he needs someone who's going to broker-deals with the opposition if he's going to push this through parliament. the first objective is to come up with a name. they are going to propose someone. maybe not right away, but they've got to come up with a name who is prestigious. >> dan, in terms of how we should think about this guy, this is essentially a ceremonial role that he's transformed into something bigger. he's had a much bigger impact on italian politics than you assume by the authority he has. >> that's right. the italian president is not elected. by a popular vote. he is elected by parliament. it is generally a ceremonial role, but we've seen in the last few years with this unstable political environment, that he has used the powers to dissolve parliament when necessary, appoint a prime min

mr. napolitano who will become a lifetime senator. all of that starts in a couple weeks. >> tell me this. what are the implications for mateo renzi?e last thing he really needs, that instability from the top. >> he had a little bit of time and has been intraoffice a year -- in office for a year. he has this massive agenda is trying to push through. everything from labor reform to the weight italy elects officials -- to the way italy elects officials. he is going to need a president who will help broker-deals if he wants to get these measures passed through parliament. to convince the eu, angela merkel, mr. draghi that italy is making structural changes in the way it operates. >> it is still early. we are waiting for him to step down. give us a sense of where they may reach out. who might be in the offing at the moment? >> that is a big question and right now there is no figure -- italy needs someone like napolit ano who can sit above the political fray who is authoritative and knows the methods of reaching compromise. deraraghi's name has come up however he has not said if he is interested in leaving the ecb to come to italy. othe