renzi in the past has been angry with other e.u. leaders saying there was not enough of redistribution of migrants. migrants arriving in italy asking for asylum here but then effectively accusing northern european countries of washing their hands of these migrants and said if this is europe, they can keep it he always reiterated that it was the moral duty of everyone to rescue all these migrants who may get into trouble and risk their lives across the mediterranean. >> in italy we if they stay in the sea i will try to save. i'm not a number. i'm a human being. and italy has centuries of civil civilization, i won't refuse centuries of civilization. >> matteo renzi is back in rome but he'll be heading out for another summit. he said he would prefer to see greece in the eurozone but kept reiterateing that what europe needs is change to adapt better to the future. >> thank you. let's try to pull this together with linda from oxford university economics professor. we're talking about economies here. what is your view? >> i think they're

we also heard matteo renzi batting back, saying we cannot have a situation where other governments are paying for greek pensions and we cannot have a situation where greek shipbuilders are not paying taxes. so, adding a little pressure to make greece institute reforms. pimm: also a rejection of the new greek proposal to accept creditor conditions but not to reform any domestic regulations they are doing with tension pension plans as well as payments to the private sector. i want to bring in erik schatzker, who has been standing by and reporting from athens. i am wondering if you can explain what is the state of play. the prime minister has urged a no vote. erik: the state of play is more or less as it was this morning. the only thing that is different is we woke up this morning and found out that alexis tsipras made a counter proposal to european creditors and that seems to suggest that perhaps he was willing to sit at the table and hammer out a compromise agreement. his address minutes ago closes the door on that possibility because he has made it clear he still wants to hold this ref

renzi, a greek deal probably similar to the one discussed before the vote.a, why did we have a referendum? jon: it feels surreal. the proposals the greeks have offer to creditors is a mirror image of what the creditors offered to the greeks 10 days ago. the political analysts will be scratching their heads, digging to the numbers. the investors, a knee jerk reaction. the very idea that we could have a deal before the weekend the matter what it looks like, and even spare us a summit on sunday, guess what is happening? we are in the green. i -the dax stringing together another day of gains. here in london on the ftse 100, we are higher by 1%. so, equities gaining. a stronger euro up against almost every major g-10 currency, but the yen is taking the biggest beating. a stronger euro, 1.3643. stronger by 1.9%. that is the move in the fx markets. bonds doing her things. peripheral spreads go tighter. yields lower in italy by 10 basis points. a similar move in spain. german bonds selling off. higher by 10 basis points. we talked about the greek bond market. and we

and you heard from mateoteo renzi, this is about the focus of europe going forward. just how we develop and reshape europe to not keep coming back to these situations and having these back and forths and arguments over which countries what want. who are the disciplinarians, i think for many here far bigger questions to be answered than just about greece here. back to you. >> julia, thanks to you. do stick with us. i want to bring in ian from morgan stanley. can we be confident that it's 100% being avoided? >> there are still plenty of risks, though which are likely to pop up in the way, as we see it pass through several parliaments in europe and out there the eurozone and out there the eu. so there's still plenty of hurdles, in regards to the implementation of the deal and that could lead volatility high within greek currency markets. i think the euro could stall in the situation where you see it moving on different headlines, we need to be wary of that. i think where we continue to see things moving in the right direction and see a positive response in the asset mar

she said this more diplomatically than renzi had said.n the afternoon, the speech she gave at berlin university, it was said that italy had paid their taxes. angela merkel said she has kept the lines of communication with the greek prime minister open and she said there will be talks after the referendum if this is what the greek people want, but whether these lines of communication are getting frosty remains to be seen. the german finance minister was looking at -- he said it has only gotten worse since this greek government has come to power, that they have made the situation in greece worse, and he even questioned the credibility of the referendum. he said there is no point in negotiating with these people at this time. certainly, the relations are chilling between athens and berlin at this moment. anchor: reporting from berlin, thank you. at a crucial step for diplomatic ties the u.s. and cuba will reopen embassies in each other's capitals. the countries have operated diplomatic missions under the situation with switzerland. it is a h

renzi. perhaps he knows because they will be down in the next few years or so. there is no front. is no group of politicians who open and systematically support mr. tsipras's view. the exception is the outgoing chancellor. this could be seen as support for what mr. tsipras's is trying to do. anchor: he is an isolated figure, but you can understand why the greeks have resorted to voting for such a figure and his policies. up until now, nothing has shown any side of bearing towards them at all. guest: that is a good point. in 2012 the country had to elections in may. tsipras's party took an ambivalent position on the euro. they won the election in january 2015, in my view, because they moved away and said no, we want to keep the country in the eurozone and we will manage to keep the country in the eurozone. but we'll try to do is improve the terms of the bailout and that is what they have been trying to do. to a certain extent, some of the arguments they have been using is correct in the economic sense. i fear that partly because of the attitude of the minister of finance besides on

as matteo renzi says?obel: they could be unsustainable in the euro, and it could have long-lasting capital controls may be a full access. there is no way it can be decisive in the other direction. they are so far apart in their understanding and how greece will become a modern state in the euro that i don't understand how they could reach something. she reasoned has said no to a program that was generous in the short term because they are moving in the opposite direction to what is needed. that is fine, but they need something that will work. if they don't, sunday will pass and they will end up out of the euro. greece has had a very bad track record of implementing reforms. we will only drag on in the situation. katty: it seems to be more acute than it has been up until this moment. i was interested to see prime minister alexis tsipras leaving brussels with a reminder saying that this is a european problem not just a greek problem. do you think that is still true? that agree's leaving the eurozone will hav

the prime minister of italy matteo renzi, put it well. he said that we should not be triumphant nor should we diminish it. angela merkel said that for the moment, plan b has been excluded and that greece had shown its will to stay in the eurozone, but it would be a long and difficult road ahead for greece. since the five minutes of euphoria that took is here at about 8:50 before then markets opened they had the time to find combed the details through this deal. for greece, it is a very technical document. it is asking a lot of greece. by this wednesday already they will have to implement a number of laws and a number of others by july 20. the list is endless, all this under the supervision of the european institutions in the imf. you know how syriza feels about this. they were promising when they were elected to put an end to austerity measures. so a very bitter pill for alexis tsipras as well, after some 17 hours of talks here with his european counterparts. the only good news for him is that for the moment the european central bank will

you mention prime minister renzi and of the case of italy.e remind our audience that italy isn't the only country in southern europe -- is the only country in southern europe that has come out of the financial crisis without asking for any financial assistance from europe or the imf. and is says in the spring of 2013 when actually i concluded my government, again, the only country in southern europe which out of the excessive procedure because italy was back complying with the budgetary requirements. france does not yet to do so. therefore, italians, although we are working harder not to have the -- doing many sacrifices. manus: in your opinion, in your opinion, given the no vote and of the liquidity crisis we now have in greece will greece be forced out of europe? mario monti: i believe that every effort will be made on both sides to keep greece and the euro. by the way, a huge majority of the greeks do want to stay in the euro. and as i said the conditions for them to do so after these imaginative and a bit reckless move by mr. tsipras will

barbara serra spoke personal personally with italy's prime minister matt matteo renzi. >> for me, i think the greek government because it's impossible to force the citizens of italy of spain to give the message this is for you but not for greece. this is the question. i think that the most important challenge today. >> pope francis arrived in bolivia. it landed an hour later than scheduled due to delayed departure. he'll spend four hours in la paz because of worries of the effect of high altitude on his health. he is speaking out against war and calling for a new ecological world order where the earth's resources are shared by everyone everyone. >>> we speak with. >> we're going to try to re-establish our connection tracking the pope's visit. these are live pictures of the pope having just touched down in lapaz. there is a great deal of excitement. you can see men hundreds of people have lined up to greet him. he's a little bit let. you can see him standing next to the president of bolivia. the pope a little bit late touching down, an hour later than scheduled. there he is. he's only goin

renzi from italy said the european leaders will hold another meeting on sunday.sals will have to come. he hopes the sunday summit is the last on greece and hopes it will bring a happy ending. in addition to that we are awaiting a news conference which we believe will begin shortly. we know angela merkel will be there. here is the bottom line. it's other ministers making comments. greece has until sunday to make last proposals in front of the full european union summit. that's it. they are throwing down the gauntlet once again. unless they come up with proposals before that. we are awaiting that news conference. >> thank you so much. sue herera at headquarters. all eyes have been on the greek debt crisis. our next guest says it's the china plays across the world weakening from commoditys to companies selling to china. what would a crash mean globally? ruchir sharma joins us. this was a quiet story. how much further could it go in china? >> if you look at the up move in this market it had no fundamental basis. we all lived through many bubbles in the past this. bub

merkel and the italian prime minister renzi, and i understand he said that the voters in greece have a stark choice - voting for the euro or the drachma. those are the things we expect to happen today. >> dominique kane there. meanwhile in greece there's panic. pensioners have been cueing outside banks to withdraw cash. the yoction is on a referendum on -- focus will be on a referendum on sunday where the greeks will vote to accept or reject the deals of a package. the latest from john psaropoulos in athens. any hope that the last-minute proposal put forward by greece may be accepted by the finance minister? >> i think there is hope on the substance, because the exceptions to what the greek prime minister alexis tsipras is asking for is not great. it amounts to footnotery on essentially what is the creditor's fan. greyed tors had, when they -- creditors had, when they submitted the plan approached the greek measure. this was largely inspired what the greeks proposed last month. it is not unpalatable, but it contains spending cuts and is a red line that has been crossed now that alexi

italian prime minister matteo renzi saying all 28 e.u.end sunday's summit, not just though from the eurozone. >>> the white house strategy in the battle against isis center stage on capitol hill, concerning new details coming up. >>> also shake shack is shaking up its menu, the newest fried edition not helping the stock after a brutal day of trading. ♪ david: defense secretary ash carter made a shocking admission in testimony before the senate armed services committee before the president made the case our anti-isis strategy is working. take a look. >> as of july third we're currently training about 60 fighters. this number is much smaller than we hoped for at this point, partly because of the vetting standards i just described. >> i got to tell you after four years, mr. secretary, that is not very impressive number. david: mike baker former cia covert operations officer and nomi and rich are back as well. mike, four years, hundreds of millions of dollars spent in this program. we have 60 fighters. what's up with that? >> i guess we basic

look, matteo renzi was really prescient and smart on this two weeks ago -- and i could mean a couple is all blurring together -- the prime minister of italy is saying we spent five months talking about greece, not figuring out how we are going to grow europe, and how we are going to do with structural unemployment, which exists outside of greece. we lost five months because of the greece situation. will we returned that? likely. tom: hans nichols, thank you. he said that greece may reflect upon europe and global markets. alan ruskin knows that even if compromised, even if agreement is found, there will be further work to stabilize the european experiment. i just got a lovely e-mail from barcelona and one of our viewers over there, about the idea of what spain does or what estonia does or what these other nations do. are they adapting to germany or will they ultimately adapt to what happens in greece? alan: all of them have gone through varieties of adjustments. they do not particularly like the idea that -- tom: greece get special treatment. alan: there is the sense that adjustment h

this is from matteo renzi. right now, we have clarity in brussels. i suspect that we followed may be by chaos in athens. you look at the terms of this deal and they are pretty harsh. about the only thing mr. tsipras was able to claim victory on was this 50 billion privatization vehicle will be housed in athens. he also claimed that he got debt relief. whether that means a restructuring are re-profiling i suspect we will have a debate on that. on four of these proposals, they need to be voted on by thursday. the other two proposals, july 22. we have a clear timeline. we are still looking for what happens with short-term financing. that is separate and distinct from what the ecb does with ela. there are a couple pots of money sloshing around in brussels. the s&p for one. this goes back to the old june deal. we do have progress in athens. you could see the esm and other eurogroup leaders figuring out how to release short-term financing before that july 20 payment to the ecb. that is one area we don't quite have clarity on. otherwise, we have a deal. it

. >> renzi says he hopes there's no need now for a meeting on sunday.arly we're getting much much closer to a deal. we're already above where we were on the dax. it's not like we're rallying off a full back but out right. >> don't forget the rallies we have already seen. bonds reacting on a risk on day. the core the safe havens the u.s. and germany seeing selling back above 0.8 on the ten year in germany where as the likes of greece seeing yields going the opposite direction. a little bit of bond buying. 15.6 on the greek ten year. the euro move has been complicated over the last couple of weeks but today sit moving up with this positivity. 11112 let's have a quick look at cable. the sterling u.s. dollar or the queen back green back which is up 0.5%. 15455. over the course of the week a big sell off in oil prices. a little bit of positivity as we come to the end. up 0.8%. wti and brent 53.2 for wti. 59.0 for brent. >> chinese stocks bouncing back for a second day propped up by determined intervention from china's central bank. it follows a major three w

antonis samaras: it is exactly but the european leaders are also saying, even the socialist like renzithey are all saying that what he is putting as a pseudo-dilemma the bad europeans against the greeks is total pseudo-dilemma. it is the euro against the drchaachma. if we go back to the drchachma, this will kill agriculture -- the young people. tsipras has only said one truth, that greece will become unrecognizable and six months, and he is succeeding in that but we are not going to let him get us back into the drachma. this will kill our economy, kill the hopes of all greek people. we will win on sunday. mike: if you win, does the government have to fall, does tsipras have to resign? if he does, who takes his place? antonis samaras: we are now focused on winning. i'm sure we can talk about all that next week. i do not want to disorient take a discussion into that. tom: we have a large audience in athens and across greece. i want you to explain to the marginal voter deciding to go yes or no. they have got a comfort with the way greece has been for decades. what would you say to them to

. >> the creditors were very clear and i'm not just talking about angela merkel i'm talking about renzi, people who belong to the central european left made it very very clear that the only way for greece to actually stay in the euro is if they vote yet. >> what i hear is they're angry at austerity and it doesn't seem like this govern suspect attaching a no vote to a potential exit. >> all of us who are campaigning for the yes will be pleasantly surprised sunday night. i have faith in the greek people. we have worked very hard to become an integral part of europe. we're not going to throw this away but mr. tsipras put us in this dilemma. to your point if the yes vote wins mr. tsipras cannot stay in power. he has said to very clearly. if however, the no vote prevails, people need to know what the consequences of a no vote is. they're already seeing the first episodes but the last episodes will be disasterous for the country. >> i want to ask you a quick question about rumors in greetsce that mp's can take more cash out from what other greeks are limited too. >> that is absolutely not tru

merkel said yesterday, if you look at what italian prime minister renzi said, look what i have had tohat others have had to do tough political decisions on pensions and taxation. how can we tell the greeks they don't need to do what we have already done. people tend to focus on germany. i understand it. it struck me yet, there was significant uninimity of vote that they want to keep them but not at any price. >> it comes down to who are the greeks angry at angry at their own government and the prime minister angry at the imf, angry at the germans? how do you predict the vote goes? >> it is really hard to say. my feeling, sarah, is that anger animates demonstrations. i think when people get in a polling booth and clothes the curtains behind them a sense of calmness comes over them. they understand the importance of what they are doing. i think they are going to think not so much about the anger and whom to blame but what is greece's future? i personally think greece's future is stronger both in europe and the euro zone. i hope that's where the greek people come out. i tend to think tha