matt is in riga, in latvia.ot of focus on will it be today, will it be in six weeks time that we will get some sort of timetable. in fact, mario draghi has previously denied even discussing the end date for quantitative easing in previous meetings. he's got to obviously talk about it because the scheduled to run out in september. there's only one other meeting between now and then. up, attbe broug least. the question is, will they set an end date? they need to signal that clearly t market that this is going to go on forever. you've had some positive economic data lately with wage growth rising over the same quarter last year. could be time to not only discuss it but me to take to the --ket that the ecb knows communicate to the market that the ecb knows it will get out of quantitative easing in ptember. chris, matt is setting up the quandary the ecb is facing going into this. is there rationale for you in waiting another six weeks in learning morabout trade and italy and then communicating a timetable? or just do

i am guy johnson alongside matt who is in riga today. latvia.am in it could be a very exciting meeting today. mario draghi and h governing council might announce the end of bond buying. the standoff over the latvian central bank governor who is not in the meeting because of a corruption scandal is likely to come up as well. the cash trade is less than 30 minutes away. guy: hikes and more hikes. there were -- the fed raises rates and signals to more. willario draghi signal a move toward the exit? outbidding the mouse. the cable giant is offering $65 billion in cash. how will disney respond? watch sky shares at the open. the world cup kicks off in moscow. who is your pick? give you cap go on your on yourw cut bloomberg. matt: we're less than half an hour away from the open. futures down across the board. we're looking at losses and -- in futures. mixed trade in asia. treasuries are being bought. even though the fed came out yesterday with a hike and a little bit more of a hawkish tone, at least one. rose in the plot. we still have yie

trial of one of europe's most influential economic policy makers a makeshift shrine marks the spot in riga where a lawyer working on the winding down of a bank was shot dead he was killed while driving his car. inspecting the crime scene today r younis veda and antonio krekar who work for an anti corruption agency. the murderers cast an ominous shadow over lockerbie as financial sector the killer and their paymasters have yet to be identified by the state these in ohio and in turn me mr said that there will be an assistant other counties to search for that murderers and should not place again their next stop is the main offices of the bank which manages accounts belonging to citizens of the former soviet union the bank launder dirty money for years illicit funds were transferred to other e.u. banks or to offshore accounts. he flopped and banks did not properly check forward bills money was coming from other banks in the european union or being the international system would accept those money with all of. them unknowingly in one case in twenty sixteen one point three billion euros disappea

what can we expect from today's meeting in riga? "a," more details. how mario draghi and his team see the phasing out of the quantitative easing program. the current program officially ends in september, the end of september. and it's widely expected that the current run rate of 30 billion euros a month will be phased out until the end of this year whether we get an end date or not, that's the question because it's also clear that given all the uncertainties in the world, like trade war, perhaps italy, perhaps the ecb wants to keep a bit of flexibility so the best case is that we get some more commitment of a phasing out from the ecb, perhaps even some more details about the plans, like by which amount they plan on phasing it out. perhaps not an end date. that's one big item here another big item, markets are nervous about whether we get an indication of when the first rate hike can take place whether it could be during the first half of next year given the ecb's current upbeat interpretation of inflation development that brings me to the third big ar

our question here on quite riga --germany's refugee ralph our question here on "quadriga" canermany's refugee row: angela merkel survive? merkel'sibaut believes crisis will only bring germany together. ,lso with us is alan posener who says once again merkel has defeated an opponent by giving him just enough rope to hang himself with. we talked the talk but could not walk the walk. and a very warm welcome, too, , from derauerbrey believesgel, who angela merkel is at the mercy of europe's populists. the biggest crisis of the merkel years. that is surely no exaggeration. not. no, it's we have talked about this crisis for merkel and she has always survived this show. i think she still hahas the chae to get out of this one. i think there is still the possibility or compromise, but yet, they are in it was all they political a very existence. peter: two giants in the late stages of their political careers. you have also had a post in "the guardian" this week saying no and can deny that angela merkel's coalition is in trouble. how deep is the trouble? trouble, but in don't think the trouble i

numbers coming in pretty riga. the kospi,hing looking pretty good. the shanghai comp, we have been poised for a couple of days now but we have seen a turnaround it comes to mainland markets this afternoon. we had 100 companies pledging to buy back shares. that is provided short-term purport just short-term support. -- short-term support. the hong kong banking sector don't pretty poorly. morgan stanley saying that is going to be impacted by any trade tensions between beijing and washington. we are seeming to see a kind of momentum driven selloff as we await whatever the next step is in this trade war. manus: it could be a big fix for july after the fifth of july. haidi lun in sydney. for your area finance ministers have struck a landmark debt field for greece. clear the way for an end to bailout. us --john hoeven joins joe satan joins us -- jones hayden joins us. what is the size and scope of this? jonas: -- jones: it affects 100 billion in debt. it is getting greece back into the debt markets. its final program is

is can she come up with a solution to prevent a go one from being blown apart to find out on point riga coming up short. thirty minutes. or more. germany state by state. the most colorful. was just. the most traditional find it all at any time. check in with a web special. take a tour of germany state by state on d w dot com. birth. home tunes of species. a home worth saving on. your move those are big changes and most start with small steps but global ideas tell stories of creative people and innovative projects around the world. but news that cuts limits to screen images solutions and resource issues. interactive content teaching the next generation about environmental protection. and channels available to inspire people to take action and were determined to build something here for the next generation globally is the environment series of global three thousand on t.w. and online. land will be our fighters want to start families to become farmers or engineers everyone of them as a planet in super you should. say nothing is kiss on the children who have already been there all day and a

women like a man who had cunts who lived in can expect also came from east prussia and went to weimar riga so see it wasn't the place that attracted such been a couple the reason was probably fast contemporary said that frederick's presence caused the room temperature to drop by a few degrees slightly similar temperature it wasn't an environment in which great minds felt that he must be your tulip india was a cover for the i gotta shela and the other big names frederick largely ignored them all the poets and musicians sought that lock far away from berlin at small a princely court such as weimar. the and this is where the timeless works of the german classical era were created they gave many people the feeling that their shared language is a unifying thread irrespective of the launch number and the diversity of the german territories. the anna amalia library in weimar is still reminiscent of the creative wealth of that period. frederick doesn't care about the empire or about the culture of the germans as a whole he sees himself as precious fasts of and he travels from village to village al

a makeshift shrine marks the spot in riga where a lawyer working on the winding down of a bank was shot dead he was killed while driving his car. inspecting the crime scene today r younis veda and antonio correcto who work for an anti corruption agency. the murderers cast an ominous shadow over lotfi as financial sector the killer and their paymasters have yet to be identified the state is in a high alert and interior minister said that there will be an assistance for other counties to search for the murderers and law and order should be placed again their next stop is the main offices of the a b l v bank which manages accounts belonging to citizens of the former soviet union the bank launder dirty money for years illicit funds were transferred to other e.u. banks or to offshore accounts. he flopped and banks did not properly check where does money was coming from other banks in the european union or being the international system would accept those money with all its. laundering them unknowingly. in one case in twenty sixteen one point three billion euros disappeared without a trace fr

>> actually, mario draghi was more or less explaining the actions they have taken last week in riga when they were giving us revised forward guidance when it comes to rates and also announced the end of their quantitative easing program. given the selloff in the markets and given the increased uncertainties on trade, that was the most interesting part. mario draghi clearly is also worried about that let's listen first what he had to say about risks >> the downside risk to the outlook comes from three main sources. the threat of increased global protectionism prompted by the imposition of steele and loom tari lo aluminum tariffs by the united states, the possibility for persistent heightened financial market volatility. >> of course heighten t eened volatility can come from the fact that the fed and the ecb, we're forgetting about the boj for the moment, a tightening their policy stance and by that starting to withdraw liquidity from the markets less liquidity could mean more volatility he was also referring to last week's decision to give us more meat on forward guidance of the interest

my sense was that draghi, even since last press conference that he delivered, up in riga, have becomeish. do think the ecb is going to be able to deliver some of those rate hikes, that exit from qe? karen: people will call into question if we really do see things turning down because he is already pushed the rate hikes well into the long run. i think if we did see things really turning down, and particularly if we saw some of the european spreads and government bonds opening back up, or maybe the corporate spreads opening back up, the places where those asset purchases proved extremely influential, that is where the market might look for a change in direction or stimulus or plan. the bar for change on that is high. they realize that qe has perhaps had its day in that, it leads difficult --y it leaves them in a very difficult position. the ecb needs to meet those and put them in a difficult political situation. i think they have done the right thing to say it was needed when markets were failing. there no longer failing. guy: interesting stuff. karen is going to stick around. let's che

folks who either work here -- they're at a point where they're trying leave.so, riga f media from i can see and i'm basically hanging out at the media staging area at point where basically the crews and other media crews who are out here at this point, what they're up to as far as trying to get, you kn, a bit -- basically trying to get the news out that you all have been doing re for several hours. had the briefing a little while ago and melissa howell o far away.guy who livedto not and you've mentioned this before, but i think it bears mentioning because, we, it's coverage area and everybody knows where annpolis is but not everybody has liv in annapolis. this is not the type -- you know, i hate saying this, it sounds so cliche, any time there's aeass tragedy this but it goes without s ying, this i you don't go through life expecting this every day anyesere but cially in annapolis. >> reporter: that's absolutely a hundred percent true. i igree with you the sense of, you know, we're saying this more and more unfortunately as far as what happened in florida earlier this year, what happene

that riga is live in terms of changing the forward guidance? do you concur with that?is a good chance of forward guidance being changed. usedrd guidance was mainly to keep interest rate expectations at relatively low levels. now that we are sina change andonetary policy organization towards tightening, that forward guidance is not necessarily justified anymore. central banks are going to be more reactive to the economic depnts, therefore they will move away from forward guidance in general. anna: do you see the ecb giving us a day next week for when they stop bond purchases? do you think they will try to paint a more complex picture, not starting or stopping but keeping an option open into the future? obviously,, with the end of qe getting nearer, they extended only until september, we will get some indications but overall, they will keep their options open. they would change maybe some wording. i don't expect them to already set a date for the end of qe. they have already given some indication, there are many policy members who have indicated that it will not end abru

the next day, ecb discusses the asset purchase program in riga lucky a.was talking about that. they are expecting to discuss quantitative easing. they will round out the greek -- the week with the bank of japan, which mark cudmore says will be a nonevent, and russia, as well. there will be ample reasons to place that's in one direction -- place that's -- place bets in one direction or another. banks are on the bottom and it's understandable if we start to see rates rising but you are devalueking about sectors and you mentioned oil and gas as one of those. it's already the best performer year to date on the stoxx 600 if you look at the breakdown on the grr screen that mark showed you. i've got it. as well. -- i've got it up here as well. does that mean you don't want to take profits out of this sector? d.c. room for oil and gas, as well? peter: we do, particular he in -- particularly in europe. of course the oil sector is in degradation so the positive role and carry, oil as an investment, but oil stocks also look attractive without prices rising that much

the interpretation in the market from that meeting in riga was that it was a dovish taper.also have other central bankers in centra, not just mario draghi. overall, is the view that the world is still awash with easy money? >> yeah. keep in mind, it wasn't just the dovish taper, but an extension and a dovish taper. they were supposed to end their bond purchasing program in september and pushed out to december. plus, they promised not to raise interest rates until after the summer of 2019. september and pushed out to december. they've really given the market a lot more in terms of forward guidance than the market was expecting, and as we just heard from the bank -- the central bank of ireland governor phillip laid, they do feel their quantitative easing policy and their extremely low negative interest rates have really helped add to european gdp. >> yeah. more lines coming through from the prepared speech, saying that the ecb needs to be patient in determining the timing of the hike. item want to put you on this, but is there anything that could come from draghi that would b

matt miller in riga, lot fear. we will have the decision of 7:40 a.m. in new york.i 45 minutes later. you can follow all our blogs for the latest news and analysis at . the annual will be moderated by bloomberg head of economics and you can watch that on bloomberg tv, radio, and on the terminal. tom: it made some headlines last year as well. we need to synthesize. we don't look at equities discrete from currency. no one on wall street has them that letter and affected that attitude than our next guest. thank you so much for coming in. what does the yield curve flattening mean to you? anirman powell representing institution and dancing around it yesterday. what does it mean to see the curve flattening? >> i have been looking at yield curves since the late 1970's. i think the yield curve does not tell us as much as it used to. part of the reason is central banks have been such a large part of the longer end of the yield curve that they have distorted longer-term yields. we will find out more over the next 6-12 months as the fed begins to wind down its balance shee