copy on the final communique that emerged and now all of the leaders who have spoken about it, and mrs. merkel, and mr. hollande they say that at next annex ization of crimea must stay until the memberships agreement has been implemented in full. >> will mrs. merkel be pleased with the agreements made today. >> that'swhen she spoke about the chance to get agreements where countries in g-7 and others would not allowed global temperatures to arise by two centigrade a year. that's something that the french government will be keen to pursue. because paris will be the venue of the climate congress at the end of the year, and president hollande was keen to get the things that will be on the agenda of the climate conference into this communique. so far it seems that that has happened. going forward from here as far as climate change is concerned will the climate change conference be able to achieve anything phoningful. the mood music coming from the french and german government is yes, it can. >> thank you. that summit has wrapped up, and the leaders heading out. thank you very much. >> the united st

. >> well, mrs. merkel has been very clear that she wants to see some sort of progress in the fight against ebola and many thousands are still suffering from it. some sort of progress for countries like bangladesh for the rights of garment workers and the fabric production industry. she has made reference to the recent fire that claimed the lives of many hundreds of people and keen to see progress insofar as that is concerned. the rights of women entreched and supported. so you get a sense that the german hosts are looking for some sort of eman's pa tri e emancipatary situation. >> thank you dominic kane. standoff against the president deepens in burundi. >> from going pro, >> i never know that was really a possibility. >> to becoming president of the us tennis association. >> we're about getting rackets in children's hands... >> building the game... >> ...sky's the limit for growing tennis in america. >> and expanding access to play... >> at the end of the day it's about the kids... >> every tuesday night.

obama and mrs. merkel, they're meeting right now they're having a bavarian breakfast getting a feel for the area in the town of clune and then in chaussenment. >> beautiful place it is. dominic what are the other issues. >> the islamic state of iraq and the levant will be raised at the summit and then grekzit greek threefg euroleaving the euro zone, greece was supposed to make its most repayment of bailout money to the institutions athey call them to the imf and chose not to, chosen to bundle them at the end of june, 1.5 billion to the institutions, whether they will do so or not is something the leaders will have to discuss because of the potential of what they call greksit. what we'll be having with the european president in the next hour or so. >> dominic thank you. >> still ahead violence and vandalism in mexico ahead of a tense mid term election and in burundi where there's a growing clamor of fear, the standoff against the president deepens. inspiring new beginnings... >> these workers got the fight

mrs. merkel to try to see if there is any form of consensus. she has a could al list witness social democrats and with her own party which has a grand majority but at this by no means certain that she could scrape together a majority in favor of more money and of course there is the uncertainty that goes with the markets. who knows house the stock exchange will open tomorrow following the developments over the weekend adding yet further uncertainty to an already uncertain picture. barbara? >> all eyes on the markets tomorrow. dominic kane outside the ecb. thank you. there are reports a deadline for a deal on iran's nuclear program will be he can tend beyond tuesday. a framework agreement between iran and the world powersl was struck in april. major differences remain on the details of a final deal. iran's foreign minister is returning today ran for more consultation. james bays reports from vienna. >> the u.s. secretary of state, john kerry face face to face with his iranian counter part mohammed javid zaruf. it was announced mr. zarif will ret

at the moment, the political climate here is one that suggest that is perhaps mrs. merkel would have difficulty in getting that through. certainly that is the opinion of some of the more respected newspapers in germany who have talked about game over was one of the headlines today another about the fact that the german government believes that the greeks were in bankruptcy and default now and that perhaps they were considering humanitarian aid to greece. the time table is by tuesday the greeks must repay. we know political leaders will be briefed tomorrow. what follows from there is open to question, and certainly here in germany the media and political parties believe that greece will fee fault. >> ok, dominic, thank you for that update. john you heard dominic giving us the political climate over in germany. what's going on in greece and has the greek government reacted to that decision by the e.c.b.? >> the greek subsidiary of the european financial stability fund, one of greece's creditors has been in conference to decide whether to hold capital controls here beginning

mrs. merkel's call and as we've discussed, mr.been in favor of taking greece out since 2012, but it was never his call. it has become clear that this is a political decision. the more political this decision is, the less likely that the market expects there to be a grexit. mark: why is the euro so concerned? jack lew sounded very concerned. is it all to do with euro-dollar? is he concerned the euro will collapse? is there a wider political issue? sony: i think it is the security dimension more than anything else. very senior people like nato have been concerned about the security implications of this. it is geostrategic more than direct financial or economic consequences. francine: sony kapoor and mark gilbert stay with us. they will be staying with me throughout the program. let's look at some of the other top stories on bloomberg. billionaire patrick drahi has bid more than $11 billion to acquire france's third-largest mobilephone company from bouygues. bouygues has called the offer unsolicited and says no negotiations are under

later we were told that mrs. merkel and mr david cameron were determined that sanctions must not be lifted again russia until russia implemented the minsk agreement, arrived at months ago. there was a sense very much there that this summit is trying as much as possible to show a strength - show a force, as it were to show how strong they fell about the situation, and as far as greece is concerned. the possibility of gretskit was at the front of people's find. if i take you back to the event at the beginning of the morning when president obama arrived, he was greeted by angela merkel in the village. >> reporter: the spring sunshine light up a picture of bavaria culture, this village was transformed into a venue for two world leaders. germany's chancellor greeted the u.s. president speaking of their two country's enduring president. >> despite differences in opinion that we have today the united states of america are our friend our partner, and an important partner that we closely cooperate because it is in our common int

but if mrs. merkel is in favor of further support to greece her party will follow because even if some are getting stomach pain on these things, there is no political alternative to merkel in germany. which means if push comes to shove the party will support her even in the greek issue. mark: what is your base case scenario? does the deal get made, does greece stay in the eurozone? guest: the base case is on very weak footing these days it is still that we will get a deal with a typically european compromise which will lead to short-term release but then in the coming months greece will have to decide if it is willing and able to come up with a credible commitment to implement these reforms and that we do not get a repetition of the current case. the high risk that the entire situation can still escalate later on. mark: good to chat to you. should we checked the markets? the carmaker unveils a new alfa romeo model. is it too little, too late? korean prices see a stimulus package to soften a double blow

everyone was privy apparently he was even more decisive and aggressive even in histone saying to mrs. merkelthis is the birthplace of democracy, and we will not be told what sort of question to put to the greek people. all of this, of course, is going to be important in how it effects and shapes public opinion in the days to come. i think the government here having heard what the opposition had to stay is preparing for a war of words not only from its domestic opponents but also from creditors overseas who seem to have washed their hands of greece in the euro group and to prepare for greek's exit from the eurozone. it's worth noting that the conservative opposition is gathering signatures in order to launch a motion of no confidence in the referendum, perhaps by triggering a fall of the government here in athens, which is what would happen if a no-confidence motion were to pass. but it seems unlikely that they'll gather the votes to achieve that even if they manage to get the motion to take--to be carried. >> john with the latest there in athens. john, thank you. joining us now via skype in

mr. putin in april. merkel a her press person is insisting that there is no daylight between her and her finance minister. there was a report earlier that he may have been a little fussed but had not been informed by the monday night meeting. on june 9, there may be a meeting between mr. verify this and mr. short black here in berlin. that will be next week after the g7 concludes. of course, we have to brace ourselves for nonfarm payrolls coming out in the states later today, 8:30 eastern time. it will be a good sense of whether or not they will go ahead with the rate increase this year or if they will take matter lagarde's advice and wait a little bit. guy: peter cook later on was saying essentially washington says lagarde overstepped the mark with that. hans: the fed prices independent. any u.s. president is careful about not influenceing the fed. guy: thank you very much. "surveillance" will pick up the bat. that is it from me on "the pulse." i will be back bright and early on monday morning. ♪ announcer: th

potential grexus as it has been called and falling out of the euro zone and this is what we can expect mrs. merkellk about when she finishes the meeting in the coming minutes. >> we will speak to you later on and thank you for the update from frankfort and dominique is joining us from athens and speaking of the grexus and what are they feeling and if it exists is inevitable and what effect is the currency control having on individuals and businesses over in greece? >> i don't think greeks currently see an exit or an exodus as inevitable. i think they do feel the referendum on sunday still matters even though greece will have blown past the deadline of june 30 tomorrow which will formally end its financial assistance program and it's oversight program and the international monetary fund program continues until march so it's therefore not entirely out of the grasp of creditors both in the good and bad sense and it might ask for more money and enter an austerity program that will be overseen by them. the troubling part is we are three days in the referendum announcement and it is monday and the gover

merkel. but the proposal news to be a reasonable one. i'm quite sure mr. lande, angela merkel, and jean-claude juncker are negotiating with the greek people. only if they come up with a reasonable proposal, there will be another deal. francine: what is your best hope for the next few days? what is your best hope for this meeting in brussels between angela merkel and mr. tsipras and france while lond? -- hollan de? mr. fuchs: my hope is that greece is at the end of the day being more reasonable. what i heard from tsipras was not reasonable. we would need reasonable people to negotiate with us. we want greece to be a euro member but only after they have fulfilled what we have agreed. francine: great to speak with you as always. up next profits rocket for the world's largest clothing retailer. the details on into tax -- indetex next. ♪ francine: inditex, the world's largest clothing retailer, has a 28% drop in first-quarter profit. charles allen joins us with the latest. sales up 17% since 2012. charles: the euro has been weak. good cause control and good unde

but mrs. merkelaid there will be no deal for the greeks until after a referendum using the referendum against the greeks even as they have sought to use it as leverage against her and the other creditors. and that is something that greece is still determined to carry on with. >> reporter: as he arrived for work on tuesday, the finance minister was as assertive as ever. >> translator: the most important thing at this time is to secure with sobriety and harmony the right of the greek people to express themselves on sunday in the referendum. it's a right that the euro group fights by closing the banks, and securing it as mandated by the greek state. that's our goal to allow the greek people to express their view on the proposal. on monday we'll start the plan for a viable economy. >> reporter: this could lead banks to be cut off from funding and go bankrupt. but the prime minister is rumored to be considering a renewed overture from the european commissioner. >> this would require a move from the greek

mrs. merkel has in a little clear there is going to be a meeting.at position has actually retreated -- the greek position has actually retreated from what they thought they would agree to on the june 3 meeting. take a look at the new demands they are asking for. they want to get another 10.9 billion. then they want to make it easier to refinance themselves for the great banks to buy. then they want an additional pot of cash from this european stability mechanism. we have new demands from greece no real movement in terms of heading to creditors directions in terms of where they are going to be with the primary budget surplus. here is the latest in germany. merkel's party was increasingly divided. here is a key quote to give you a flavor of the tone. that is we want greece to stay in the euro but whether it is achievable depends entirely on greece. conditions have to be met. one thing to look at is what is the number for the primary legit surplus? once you get the numbers you can figure out how to get there. it is going to be difficult to make rye gra

for mrs. merkel, she is sounding a lot like her finance minister which is to say very negative. then we also heard from donald tusk, talking about how all the institutions are united and on the same page. >> it was a long discussion. we talked about the situation and potential consequences. we concur on the current process of negotiations. there is no need for another summit, not tomorrow or over the weekend. we expect the eurogroup to conclude on saturday. hans: caroline, all the emphasis now shifts onto this saturday meeting of finance ministers here in brussels. disturb our focus will be coming back for that. -- mr. verify varoufakis will come back for that. there is some difference among the creditors, particularly on what's or does economic assumptions the imf is taking about greece's probe. there is some indication that some of the mathematics may be too optimistic. that all kicks off again tomorrow, and caroline, there is time for you to get on the euro come down here and report this out yourself. but i suspect we will have a busy weekend in brussels. caroline: the fifth

this is from an important deputy from mrs. merkel. he was speaking over the weekend. here is what he had to say. an exit has to be factored in if the greek does not do what it has been called to do. this was another comment out over the weekend, and we are getting a bunch of news. we will have to digest it. we are getting more on the interview and we can walk through maybe what can potentially happen if you are a optimist in brussels. guys? anna: thank you. you heard the set up there from hans. what about the credit perspective? reporter: i would not use this with the news. there is the meeting in luxembourg, and that is where they hope to make some progress but coming out of yesterday's meeting that broke up so abruptly because the two sides are still so far apart, it does not look good from here. we will be waiting to see what some of the officials have to say. we have the ecb president mario draghi in town. he is speaking to the european parliament, and he has something to say about the state of negotiations at this point. anna: jones, thank you. we will be watchin

mrs. merkela meeting and everyone was planning it, in the last couple hours it seems as though her up there hasn't been enough progress to even merit a meeting. it is only a disaster and a bad sign. brendan: throughout the course of the negotiations, greece has had one test ally with of the european commission. is it true that she is a spokesperson for the eu saying the ball is in greece's court. as greece lost that friend? hans: it seems that they lost that allied last friday when tsipras gave that firebreathing speech after meeting with jean-claude juncker. he has always been that friend for greece trying to move the germans and the dutch. it seemed like that ended it over the weekend and now it seems worse because it doesn't even look like you -- like junker and mr. tsipras will be meeting. tom: i think we will be talking to you more about this through the week. the process of terminating 25000 and then brendan greeley turned to me and said i think it is something on the order of 50,000. talki

merkel, mr. uecker, off the whole political class. we have a historic duty not to allow this to happen. >> time for a quick look at company news. apple has installed its new streaming service called apple music. part of the announcement came from pop star drake. the tech giant unveiled the details in san francisco. live music will stream to 100 countries and some 30 million song will be available on its catalog. it will compete with the industry leader, spotify. >> a dispute with british anti-frust authorities. it has about a 12% share of across the channel market. despite winning no trophies last season, manchester united worldos more valuable futbol brand, worth just over $1 billion euros. six of the top 10 call-ups were english, barcelona fell two spots to sixth place at 690 million euros. on to iceland now and good news. it has taken the first step to lift capital controls. the government said it will impose a 39% tax of creditors of collapsed banks who want to take reclaimed assets out of the country. those measures have been in

it is so difficult for mrs. merkelhe other heads of state to say to greece, we will let you go on your own. they have to just muscle the last details and be sure that the deal somehow is agreed. this doesn't mean it is a good deal, but at this point, we just need a deal. francine: we understand, everyone apart from maybe a few people in power in greece understand the importance of a deal. you laid out why we need a deal. do you think we will get a deal? do you think we will get this half-baked deal that you were alluding to? >> the point is that, again, it is a lot of austerity measures increasing taxation on business rather than spending cuts rather than real reforms to make the economy more competitive. to all those who criticize maybe the key issue is austerity. when you negotiate against the law, that is the only thing you discuss about. a few more points about taxes. it is not very efficient. in the end, it is not good for the economy, for the prospects of recovery. manus: but the creditors seem intent on haggling

the president and merkel agreed and mr. obama took up the issue with british prime minister david cameron. >> i think there can be a peaceful diplomatic resolution to this problem, but it's going to require that europe and the united states and the transatlantic partnership as well as the world stay vigilant. >> reporter: as for debt-racked greece, leaders are exploring ways to shield international markets from potential default. they're also lobbying cameron to keep the united kingdom from leaving the european union. leading up to the summit protesters clashed with police. an estimated $8,000 have gathered to decry economic globalization, income inequality and pollution. the president meets on the summit sidelines tomorrow with iraqi prime minister al abadi to discuss coalition efforts to defeat isis, abadi recently complained coalition partners are not doing enough. even so, jeff, the president is not expected to bring new commitments to the fight. >> glor: major garrett, thank you very much. car sales took off in the u.s

mr. posener: no one is refusing to talk to him. merkel talks to putin all the time. obama sent john kerry to talk to him recently. and that is what you have to do. the fact is, you can say what you like about how much we need putin, he is not helping on any of these issues. he is not helping rain in mr. assad in syria. he is not helping with the iranians. he sold them antiaircraft missiles which they need to protect their nuclear facilities. he is doing his thing in the ukraine. just yesterday they started a new offensive against all agreements. and so to say invite him to the summit and give him minutes with the president and we will solve problems seems hardly the thing to do. he has to see that we will stick by our guns and we don't consider him part of the club. melinda: doesn't it arguably make him more intransigent to exclude him in this mostly symbolic way? mr. posener: i don't know whether there is -- mr. leithauser: i don't know whether there is a chance to make it more intransigent than he already is. if we invited him we would create a dramatic success for

mr. putin, madam merkel has been very engaged with mr. to get him to behave more responsibly and engage with his counterparts. i think that is useful. when we're discussing the shared support for ukraine, the challenges that we have as market economies you know mr. putin, he runs an entirely different system. he is increasingly in a shrinking democrat kick space. he runs an economy that is dominated by oligarchs. and he doesn't share our values. so we need to have a discussion where we can really rally the shared interests of the western democratic world. >> reporter: now we will be getting a final communique of g-7 leaders later on today. whether the threat of increased sanctions is actually part of that communique, i highly doubt it but i'm sure there will be some very very strong message included in that. where the future of sanctions against russia actually goes that's hard to say. as you see, there still is not a totally perfectly unified stance from the west vis-a-vis russia. >> thank you, caroline. thank you very much. >> let's mov

mr. tsipras and ms. merkel have to speak about. there's no agreement in place for the creditors. tom keene with "surveillance" 25 minutes from now, looking forward to the show. tom: thank you, francine. manus: the decision to call a referendum may have shocked the country's creditors, but a surprise move is being celebrated by many on the left of the party, who are pushing for an exit from the euro and the nationalization of the key industries. bloomberg caught up with one leading left-wing politician cheering the referendum. >> even if it means exiting the euro, why not? >> everybody now in greece that the troika, they are trying to smash the left government, so it's not possible to have a good or bad agreement with them. the only move is to stand up with the people and say enough, stop with austerity now. so it's the right choice. i don't know what is it going to happen. it's a new situation. i want to remind thaw banks in greece they belong to the nation now after all this savings, and it's only the new liberal direction of euro

mr. obama, engineer plan chancellor angela merkel -- german chancellor angela merkel pushing for a continuingace. russia will not be invited back to the council until it stops its aggressive behavior. >>> a man accused in a february attempted robbery, shootout and police case will be back in a loudoun county courtroom tomorrow. 27-year-old jared williams is expected to accept a plea deal. authorities say williams and fellow suspect jesse roberts tried to rob an armored vehicle outside a capital one bank at eastern marketplace in chantilly. cops caught them in fairfax county. roberts faces a jury trial in august. >>> hundreds of people attended the 11th green festival expo at the d.c. convention center today. there were more than 250 exhibits on sustainable innovation, eco friendly living and transportation. organizers there hope to inspire everyone to find ways to reduce environmental waste in everyday living. >>> straight ahead on wusa9 news at 11:00 how a young kid badly injured in a sledding accident is giving back to the people that supported him. >> and caught on cell phone video, a cop

mr. tsipras had club -- talking with merkel and hollande. they want to have new taxes and levies on businesses with revenues of more than 500 thousand euros and a solidarity level for people making more than 30,000 euros. and three -- the highest will of the 23%. they may eliminate some early retirement but they were not do that until next year. for mr. varoufakis, similar red. -- similar rhetoric. not exactly rhetoric that is calming. she gave an interview on sunday and said the ball is clearly in angela merkel's courts. he said she needs to make the call on monday. the uniform line we are getting even for members that are sympathetic other eurogroup and sympathetic to greece is it is up to greece to make a move and greece have to move off the ball. varoufakis saying it is up to merkel, that the be an ominous sign. otherwise, mostly positive. mark: guy, what is the situation on the ground in greece? what is happening in the banks today? guy: the banks are open. that is obviously a key gauge of where we are going. as long as the bank stay op

mr. draghi and of course angela merkel. what is interesting is they came out of it agreeing to intensify their efforts. this morning in paris we have a comment. he says real progress is being made. he said there is progress made around the value added tax. it seems there has been quite a bit of pushback about reforming that. if he is correct, they are making progress, then it could be seen as a positive sign. let's check with our colleague in athens to see whether that is one of the red lines or if the bigger one is tension and later -- labor reform. jonathan: if greece gets and offer what is the chance of accepting it? what is the risk? >> it seems like the deal will bear a political cost for the government. it probably holds the red line. it is one of greece's redlines. overall, it is a complete package. it will be difficult for prime minister tsipras. we have official saying this is consistent if there is an agreement like that or no deal whatsoever. basically there is no time available especially if talks drag on. the g

mr. schaeuble and angela merkel. here's a look of what is on our radar.outh korea has received -- mer s. the government has decided for an aggressive response. hong kong has a red alert on outbound travel indicating a significant threat. apple has unveiled a new music streaming service taking on spotify. it came at the worldwide developers conference in san francisco. it will give users access to a vast library of songs. and msci will decide whether to add china's locally traded shares. it would be historic shift because of the potential to put billions of dollars into mainland stocks. more on that now. mark barton is standing by with the latest. it has had quite a ride. mark: check out the bloomberg china market cap. a chart of the market cap of all chinese equities over the last 12 months. in the last year, $6.5 trillion. that's enough to buy apple eight times or circle the earth to enter 50 times with 100 don't -- to circle the earth 250 times with $100 bills. you get the gist. big, big test. 10:00 p.m. london time, msci will decide whether mainland se

angela merkel and mr. obama spent half of their meeting talking about the situation in ukraine. ukraine is dominating conversations, greece is, and then all of the other issues. it seems ukraine is playing a prominent role. fran: thank you. if you were to have heated conversations, that would be a great laced to be. i can hear the birds tweeting. manus: we know what he is talking about. recovery in the euro area and accelerating growth void demands. fran: the maker of guinness stout and johnnie walker surged on reports that a brazilian billionaire is considering a takeover bid. executives are in early stages of acquisitions. spokespersons have declined to comment. manus: and exclusive interview. a lot of positive change has been achieved. enough is enough. we will have more on the interview later. francine: still no deal for greece. it was probably -- we will talk about it after the break. ♪ fran: welcome to "the pulse." manus: heads of state have united to demand a resolution on greece. talks between the greek government and creditors are due to resume today. we are joined by j

hans: angela merkel told mr.ants to see his good intentions backed up by policy actions. they want to see concrete results. all sides agreed. they were constructive. everyone has agreed to intensify their talks. the german government position may be to offer some step incentive to the greek side. that is a relief of some bailout money. if greece makes one step towards implementing one of the reforms. the german government has denied this report. they say germany will only support a proposal backed by the ecb, imf, and european union. it did give confidence to the markets. there is a little negativity. pyramid skivvies he says -- pierre is talking about how greece needs to complete their program and then they can get new funds. it seems like the leaders are working towards something. they're working towards an agreement, even though everyone acknowledges more technical work needs to be done. francine: what exactly happened at the meeting? how much do we know? >> both sides said it was constructive. not a lot was a

mr. tsipras and madame merkel can have personal ties.e is a relationship between juncker and tsipras. he felt burned by what tsipras said. they are nowhere close to any kind of agreement. the market is optimistic they are getting there but they have to get an agreement on the primary budget surplus. varoufakis said 1% is too high. the old agreement was 3%. brendan: they were satisfied with 1% a month ago. here is the thing with the 1%. no one denies with these negotiations have really hampered growth in greece. what was doable three months ago, the same numbers put you at 0.5%. you saw the unemployment number coming out of greece. unemployment rising is a good barometer. brendan: yesterday, germany announced it was willing to let greece make one concession at a time. is that going to bear fruit? hans: germany did not announce it. it was done by my borders here on bloomberg. -- it was done by it great reporting here on bloomberg. it is a step-by-step baby step. the german government has denied the report saying they have the full agreemen

mr. obama and german chancellor angela merkel say sanctions on russia should stay in place until it fully complies with a cease-fire deal. >> thousands of people are demonstrating nearby and what are largely peaceful protests. however, police have been forced to crack down on some that turned violent. joining me right now, cnn's senior white house correspondent jim acosta and karl penhaul. let me begin with you and the protests. what's on tap today? e protesters have been using for the last several days. this has been home to several thousands protesters whose vow has been to disrupt or even stop the g-7 summit which is being held about ten miles away from here in a castle. they haven't been successful doing that. there are many different groups with different ideas talking about greens, leftist, anarchists and concerned citizens, but uniting under a common banner because they believe the group of seven is simply a club, an elite fat cat politicians that are trying to divide up world politics and the economic pie for their own benefit, not for the benefit of citizens or the world communit

even the office of angela merkel has nothing, which is interesting. mr. kluth: i suspect the reason the bundestag was targeted -- by the way, we know about it. the ones we don't know about we don't know about. the bundestag was low hanging fruit and easy to target. it would have been much more interesting to target the chancellery, the defense ministry, they would have had more interesting information. i think the bundestag it appears was behind the curve in keeping its guard up. ms. herrman: there is nothing secret but they didn't take much trouble to protect themselves. but everyone inc.'s it was the russians. if the russians can -- everyone thinks it was the russians. if the russians can only attack the bundestag they don't have much technical knowledge. we don't know anything about the other attacks. this one was public because it was so out -- melinda: if i listen to this it sounds like much of what was said about the nsa and its abuses. out of control technology. you do it because you can and you are not asking whether this attack makes sense or not

mr. novotny. you just heard with michael brooks, a key angela merkel ally. he's such a key ally, mr. fuchs has been banned from russia. but he was in venice, so i do not think he much cares. brendan: over the weekend, the we see a rise in the probability of -- hans co we have something negative and something quite crematory from alexis tsipras. normally it is sippers who cleans up -- normally it is suppress -- tsipras who cleans up varoufakis' mess. there appears to be no daylight be feeling that between varoufakis and alexis tsipras. tom: we need to pivot. america is pivoting to asia which is at least the zeitgeist of recent years. the zeitgeist has pivoted into a brick wall. china has an offense and defense of their agencies. u.s. secretary of defense ashton carter says their actions are provocative. dark of the united states is deeply concerned about the land and scope. the process of further militarization, as well as the potential for these activities to increase the risk of miscalculation or conflict among claimant states. tom: we will speak in this hour on ramadi, on internati

mr. tsipras? hans: it seems that way. in some ways, matter merkel -- madam merkel's rhetoric has been the softest. we have some stronger words from the italians, who said this is coming down to a vote between the drachma versus the euro. in that respect merkel and her finance chief are the most measured from the european voices i have been listening to this morning. vonnie: i am reading in "the telegraph" that greece would sue eu institutions and use all of its legal powers in order to not be expelled from the euro. hans: they can sue. that is well within their rights. they would have to find a court. i suspect that is a question for lawyers. it takes a long time, and they are going to have a banking crisis, a very real question of how you make payments inside greece the four you have any kind of finality. look at the omt, right? that wound its way through the courts for three or four years and we finally have an agreement. but it is going to take too long to get through the courts. tom: hans nichols from berlin thank you. we are thrilled to give yo

mr. holland as well as meta-merkel, there will be a host of meetings today -- madame merkel there will beof meetings today. there will be a solitary tax for people earning 30,000 euros or more. there will be three bands of that with the highest at 23%. there may be limitations on retirement options. it looks like pension payments they will look to trim those about 0.5% of gdp. it does not look like they are that -- moving that much on the pension front. he made it seem like it was all up to merkel. the ball was in merkel's court. he said that she had a decision to make. every time you hear that it is the greeks being up to germany for a decision to be made, that does that seem like a great grounds for progress. we have to weigh those things against each other. anna: what do we know about angela merkel's thinking? german politicians are seeking to stop emergency liquidity assistance for greek banks. what about where angela merkel is coming from now? hans: according to someone familiar with her thinking, the greeks may be a little bit too optimistic about her willingness to make a deal. we

minister alexis the brits and angela merkel and french president -- and angela merkel and french president will meet. there he is, mr. varoufakis answering the question saying a ofsis can be avoided if all the other side of the table took negotiations seriously. yields on 10 year are above 11.3%. i think we are back above 115. finally, a look at korea grabbing things up of pressures hikeed on the back of the rates down. the reasons why issued or has to take great down further. -- to take rates down further. a 10 year chart and you see where they have been brought down and where they lowered the 1.75% if they move, on top of the economic headwinds, the exchange rate moves and weak external demand. falling exports and inflation here. also, increasing the concern over the impact of this current mers situation or will be on the tourism sector. right now, this what the economists are seeing two days before the rate decision. even splits. some of those who do not think it will happen this time, the group in a green, think they will move it next time. a quick update on the situation in korea when it comes mers. the governo

i think that's also why angela merkel already promised mr. when he came some weeks ago after his victory that there might be room for contract negotiations and that was reiterated yesterday as well from the president of germany who of course doesn't have that much to say but he is also reflecting the stance of the german government so i think they'll help him find a position in brussels which he'll be able to sell at home to his people: that's one side and the other side, what the queen was saying that she's urging everybody to come back to the table and not to let europe fall apart. that's a very crucial method at a time when we're talking about greece leaving. perhaps britain leaving but also some tensions in the east. she's just taking a longer perspective. i'm sure you're the greater queen commentator than me. >> i don't know but i know she is starting to weigh in on the debate and you're saying in germany those comments taken quite well. we'll see how the negotiation process goes for the prime minister. thank you very much. >> moving on

hans: we have francois miland and angela merkel having a meeting and it was reported mr.e there as well and would be significant but the german government shot that down and there is no plans for mr. tsipras being in berlin. the sheet music has been clear. we've had people saying something inflammatory and greeks saying positively they'll have a deal and then you have not just the germans but pretty much anyone within the east saying no deal. then you have a hope tsipras can clean things up and has been altered. this tone of the op-ed tsipras wrote for "lemonde." it will be hard to assume the role of the deal-saver and the rescuer of the cooler, calmer head because optimism was based there's daylight between the two parties and unclear that's true. francine: doesn't look like it once you read the op-ed. guy: i'm racing a car around the track. hans: what's the top speed? guy: it goes fast. francine: 200? hans: 200 k.p.m. francine: i'll say k.p.m. hans: we do that on the autobahn. race into france and come back. that's the way we roll. francine: we'll talk about the n.s.a.

mr. obama met this morning with german chancellor angela merkel. >>> the violence in ukraine, isis are overshadowinghough, the two subjects are. president obama urging them to stand up to russian aggression in ukraine. we'll have a live report for you at the top of the hour. >>> also, the death toll from the horrific chinese cruise ship disaster is now at 431 coming from china's official news agency this morning, and as of now 11 people are still unaccounted for. >>> we're following the search for two inmates after their daring escape from a maximum security prison in new york. richard matt and david sweat are on the run this morning after using power tools, think about that. they are in prison and have access to these tools somehow and got through a series of tunnels in order to get out. they were able to estate the clinton correctional facility in upstate new york 25 miles from the canadian border. more than 200 police officers, we're talking local officers and u.s. marshals and state authorities are now assisting in the manhunt for these two men. authorities describe them as dangerous and they ar

this defiant tone telling germany chancellor angela merkel that greece was the birthplace of democracy and would not be told what to do. up until now mr. tsipras has maintained a diplomatic relationship with the german chancellor. this marks a very low point in the public diplomacy. >> john live from athens. thank you. >> you now the tunisian government is dismissing reports that a group linked to isil is behind friday agency attack on a beach resort. the government has increased security across the country and prime minister has ordered the closure of 80 mosques for inciting violence. more pictures emerged from the attack. 39 people were killed, including the gunman who open fired on sunday at the beach. pictures have been released by isil-affiliateed group suspected to be behind the attack. an aviation student from a town about 100 kilometers. the tunisian prime minister said that he had not traveled abroad and he was not previously known to police. we have more on who might be behind the attack. >> the claim of responsibility appeared on social media. under the name of the islamic state in iraq and the levant different reports and

francine: that is what angela merkel was talking about, she wants to see more. and mr.ed his own people, his party that this is the right proposal. hans: yeah. this -- as there are a lot of ways this deal campaign now. maybe step back and look at how it can go forward and mr. tsipras signs a majority of its prominent does not have to be a majority of syriza. and angela merkel brings her caucus along and her party alone. it does seem that something fundamentally has changed in the past 24 hours. it was this time yesterday that finance ministers were pretty negative. pretty harsh a was of a doubt the greeks had proposed. that actually read the proposal and it turned around. we are heading into that. -- pretty harsh and there was a lot of doubt of what the greeks had proposed. it is heading in the right direction with heavy domestic consideration in place. francine? francine: hans nichols in guy just. to talk about the latest in with a deal will be reached in the next 48 hours, we are joined by a citigroup manager. thank you for coming in. the markets are your foray. the b

merkel's support. something he promised during his election campaign earlier this year. >> in our lives, mr.e have seen the worst but also the best of our continent. we have witnessed how quickly things can change for the better. but we know that we must work hard to maintain the benefits of the post-war world. we know the division in europe is dangerous and that we must guard against it in the west as well as in the east of our continent. that remains a common endeavor. >> reporter: it was interesting, really the queen and the palace suggesting she wasn't talking specifically about the european union but they will be aware of that is the big talking point right now. the german president, her counter part can be more outspoken and he said in his speech that britain is stronger in europe. a desperate plea really to keep the european union project together. >> interesting and on her second day, the queen is off to frankfurt. what is going to happen there? what's ahead? >> it's about meeting lots of people. it's amazing to see the amount of media coverage here. rolling coverage on the tv networ

to give enormous credit to chancellor merkel who has shown stick-to-itiveness and patience in order to get that done. ultimately this is going to be an issue for mr. putin. hehe has got to make a decision, does he continue to wreck his country's economy and continue russia's isolation in pursuit of a wrong-headed desire to recreate the glories of the soviet empire, or does he recognize that russia's greatness does not depend on violating the territorial integrity and sovereignty of others. the cost that the russian people are bearing are severe. that's being felt, it may not always be understood why they're suffering because of state media inside russia and propaganda coming out of state media in russia and to russian speakers. but the truth of the matter is that the russian people would greatly benefit and ironically one of the rationals mr. putin provided for his incursions into ukraine was to protect the russian speakers there. well the russian speakers are the once bearing the brunt of the fighting. their economy has collapsed. their lives disrupted some have been displaced. they're suffering. the best way to stop suffer something if the mins

president barack obama and german chancellor angela merkel spoke a short time ago ahead of the g7 summit in the bavarian alps. mrple gathered that the u.s. and germany are strong allies. he also said the group of 7 will discuss getting tough over russia over the crisis in ear ukraine. >>> the death toll from last week's cruise ship disaster in china is now at 431. rescuers continue to search for 11 people still missing. memorial services were held earlier near the disaster site as part of a day of mourning. >> >> over 3,400 migrants had to be rescued on the mediterranean saturday. their boats began to sink 70 kilometers off the coast of libya. ships from four countries are trying to rescue the thousands of people still in danger of sinking in those boats. >>> american pharoah has claimed the first triple crown since 1978 with a win at the belmont racetrack. the 3-year-old thoroughbred is expected to retire from racing and make millions of dollars in stud fees every year. >>> polls are opening, turkey's voters choose a new parliament which could lead to big changes in the country's political system. opponents of

merkel do not offer new concessions. she is holding the line. we have not heard directly from mr. tsipras.nterviews mostly in german-speaking papers. he is saying it is up to the e.u. to offer a new deal. basically we are at a stalemate. guy: thank you very looking forward to continuing coverage. mr. ferro has more coming up from switzerland. he's talking to the swiss national bank's boss thomas jordan. we will head inside to what is happening in switzerland as well as what is happening in the wider economy and greece, etc. that basically wraps things up for "the pulse." there are so much more still coming up on bloomberg television. "surveillance" will pick talk about the fed and analyze what yellen had to say. fed says, yes, we will get a rate hike by the end of the year. from there, it looks increasingly flat. i.e., we are not going to see big, aggressive moves. it looks like there will be one before year end. that is what the dots indicated the moment. we will take a check on that and see what impact it has on the dollars and equities. "surveillance" will analyze that. plenty more to c

mr. younger. and we had the french president as well as angela merkel. they are trying to hammer out a unified position so that they can go to greece. i don't want to call it an ultimatum. they are trying to come up with the last, best offer. that is what they want to deliver to mr. tsipras. they want to put it on the table and have a unified position. we have here a little insight on what actually happened at the meeting. they did say that the five leaders agreed to work and that the work must continue with greater intensity. the idea that you can attempt to buy talks on this seems a little bit off. maybe they will dedicate a little more time on their schedule to have more meetings. maybe they should call it a snap meeting. anna: these kinds of meetings typically come with details about what they ate and drank. hans: we need that wine list. it did go into the night. we know that deadlines force decisions. we do have one payment coming up on june 5. manus: there is a certain amount of credibility factor at stake. the americans have come and said that the

mr. tsipras needs that in whatever document that will be produced on thursday. the question is, can you satisfy both domestic constituencies. merkelthis is the best tsipras separate -- and is able to say to his parliament , pass this down but i am assured that relief down the line. , you gete was always additional money if you fill the program. the additional money is the money that is left over for a whole new debt restructuring. that would open up negotiations again. i think it will happen. he will be talking in august, september, october. this is not going away. debt to gdp ratio. olivia: it does look more likely there will be a deal for greece. people saying this is not a bank run a perhaps a bank jog. how worried are you about liquidity with greek banks? athanasios: clearly, this points to the agency of getting a deal done as soon as possible. we believe that once a deal is approved by the parliament, the -- the sector will banking sector has gone through a shock. deposits will not come back anytime soon. the states have to discuss a new package or something different. how to fund greece for the next two to three years. it is

mr. trichet last question. rick santelli, i truly believe that there's a form of political aggression by the leadership like merkelimpart their will on countries that have their own sovereignty. i understand they accepted loan, but do you not believe that the greek people should have a say on how burdened are they have in the future. they should be able to chart their course if they're still a free country? your final thought? >> of course. in any democracy, the final say is to the people of that democracy. that's absolutely key. that does not prevent the european endeavor. after world war ii to be based upon an endeavor which is both multinational and multipartisan. that being said also, don't forget you have the greek democracy which we are v to respect fully. you also have the 18 other democracies in europe and we have all the democracies and decision-makers of the world and we are speaking of an issue that puts around the table, the your world, europe, and greece. >> thank you former president of ecb jean-claude trichet. thank you very much. sara, back to you. >> more breaking news this hour from the supreme c

merkel. >>> well another thing to point out that has emerged since president obama made the rocks, that the president of the european counsel, mr tusk has been talking about the situation in ukraine and said insofar as russians were concerned, the g7 - the only thing the g talks about is the possibility of toughening sanctions imposed. giving you a sans of how important the g7 summit is seeing the ukraine situation and how to deal with russia. >> ukraine is top of the agenda there's many other issues. talk us through the most important ones at the moment. >> well another very important issue here is the situation in greece the potential for what they call gretsket where greece may fall out of the eurozone. the president of the european commission, mr jonker was talking about conversations with the greek prime minister, mr tamara tippler -- tipsalexis tsipras, and said he has not received solutions to the greece crisis. greece tried to defer a repayment of bail out of loans that it received and tried to say let's bundle five payments together at the end of june if the five around 1.5 million are not made it could provoke a serio