and of course there is no road map for constructing the eu. whether or not these mistakes could have been avoided is irrelevant at this time as we work together to iron out the remaining wrinkles in the european union working with them. in our country we are still perfecting our system of government in cooperation through the state and federal levels. i believe that despite the difficulties of such an ambitious european union, the willing to do that is there. despite the pain of reforms the overwhelming majority of greek citizens want to remain in the european union. we'll find out what citizens of the united kingdom think of their membership soon also. the internal affairs of the eu must be resolved so the integrity of the union can contain to stay in its purposes w. that, mr. chairman, i look forward to hearing the testimony of our witnesses as we talk more. we have all kinds of scenarios. we'll talk about isis, china. we have to work together with our allies across the atlantic. i think that is tremendously important. so there is plenty to d

joined the eu, 30, 40 years ago. going to change that, maybe a little bit on that? >> yes, it is there's a lot of similarities between the kind of problems we face here or the kind of problems the europeans are facing, as well. the issue is more complicated for them because a religious factor and there's a racial factor involved. part of the consent about immigration is motivated by religious and racial extremism. but the number of immigrants in europe is a percentage of the population is less than the number of immigrants in this country. >> of course, we have, we are a nation of immigrants. so every -- i mean, we represent every race, religion ethnic group. we're proud of that. it wouldn't have that much of an impact as opposed to a homogenous society. what do you think about -- >> done a poorer job of assimilating immigrants than the united states has. and it's been one of our great successes throughout our history. and second this has to be understood in a context of a continent, really, that has experienced very

though not have direct implications for the eu as a whole. the upcoming uk referendum on eu membership is highly unlikely to leave to material and lasting changes for the simple reason it is likely to be fought with the government, prime minister and all the opposition parties all campaigning successfully for the uk to remain in the eu. by david cameron will campaign in my area for the british business as well as to avoid the result in economic uncertainty and damage to the uk economy from a no vote. the referendum will take place in an economic context of a projected growth between two 2 and 2.5% between now and 2016, which is the most likely year for the referendum. most importantly, however, the politically necessary changes to eu law will be possible for david cameron to achieve. in principle, eu law is valid throughout the 28 member states. individual member states secured updoubts for the treaty, exempting them from having to implement some policies a the home. in short, the eu legal framework is a highly flexible animal when eu leaders

some say that they are endangering the entire eu. but is that fair? greek government does have is supporters. paul krugman says they are an active and monstrous buys. he has long called for an end to austerity policy. the greek gravel so certainly stirred up the political mainstream. i did bring some fresh went to brussels? >> paul krugman is not a bad ally to have. >> yes. we have strong supporters and am not sure if they support this particular government or -- it seems like they are criticizing europe more. at these the greek example in the greek government is now speaking -- this is the only voice to be heard at the moment. strongest voice to be heard at the moment. they rally behind it, i think. europe has to decide whether it needs more integration, if it needs to stand still and take a breath and decide what to do next or take the reforms deeper. i don't see us growing in any case. >> have they changed or achieved anything? i was interested in them this week's aim we can't put attacks -- a new tax on the rich because they are not in a position t

attention is focused on how the eu will handle that debt. greece will hold a national referendum on sunday on austerity measures demanded by the iu. prime minister alexis tsipras made a last-ditch effort to win support from creditors. he sent a new proposal hours before the deadline and asked for another extension on the current bailout program and two-year funding and debt restructuring program. the ministers discussed the proposal tuesday night but they denied him the 11th hour extension. >> it runs out in a couple of hours. but politically the situation hasn't changed. there's no new ground to go back to that. >> the ministers will further discuss how to deal with the matter. the deadline for greece's repayment to the imf has come and gone. to see how investors are reacting we're joined by ai uchida. >> european markets actually seem like business is usual. on wall street investors seem to have shrugged off concerns surrounding greece's default. the dow jones industrial average did manage to finish in positive by just 0.1% while the tech-h

he may also -- it is alleged seek to have the eu exempt from the opening clause of the eu treaty, which talks about an ever closer union, which would be purely symbolic politics but nonetheless that is very important in the referendum campaign. >> thank you. thank you, mr. chairman. >> we're going to have to go break quickly here. i want to confirm this so we're talking about the greek bailout, $5 million coming from our pockets, i'd like to again go back to who this money is going to. it's going -- the bailout -- first of all, is it accurate to say that the bankruptcy can be traced back to policies of the greek government? >> in my opinion yes. >> okay. so the greek government had policies that put us in a spot where banks -- the banks that will be repaid now because they have been spending this money, to keep the greeks afloat these banks are -- you're saying they are not private banks they are german banks french banks -- >> no this is in 2010. today the people that are going to be repaid are in fact among other things the imf itself. it is also other official sectors of the euro are

and the euro but eu tactics. pollsters put the no vote ahead of yes with many undecided. this as the government was reeling from defaulting on a massive loan repayment to the imf and still floating a variety of bailout plans including one they recently walked away from. in the german parliament chancellor angela merkel said talks would not resume until the referendum was over. she too is defiant. >> yes, these are turbulent days a lot at stake, the world is watching us but the future of europe is not at stake. >> reporter: many here are worried about the fallout from the political face-off. >> so this game of chicken that the finance minister and the prime minister are playing they could play it for their own money in vegas, not with the greek community. >> reporter: this athens travel agent is one of many in the community at risk. greece's tourist rate is suffering so are the people. >> we don't feel very well we don't feel safe. this is bad. >> reporter: eurozone finance ministers met to examine another bailout

the ecb increases emergency aid and the eu moves closer to agreeing. janet yellen a bank of england governor signal the end of low interest rates, giving clues as to when the central banks could lift off. google gains in late trading. investors welcomed that. the search giant is now famed for its new projects. ♪ welcome to the countdown. i'm anna edwards. we're a lot of news around greece. we get to that in just a moment. we heard the ecb yesterday that they were increasing liquidity. a lots about the me speak to the eu commissioner. that is an exclusive conversation and it takes place on this program. used to be in charge of latvia. then later we there's thinking that his vision for london's infrastructure later, we will be joined by a host of ceos. those companies release their numbers for the most recent quarter. the president of the swedish telecom giant joins us in just under an hour's time for his first conversation. those numbers are just breaking now. they're keeping their outlook unchanged. coming in just under estimates. let's get back to gree

will he immediately initiate talks with the eu? reasonable with those talks, they could have a deal very quickly. greek votershe over the weekend to have a deal within 48 hours. angie: we will see if that happens. wilbur: interesting. angie: it will be. it will be an interesting objective and very interesting to watch. all right, wilbur ross, joining us on the phone from hampton, new york. vote going to look at the of no through the eyes of one campaigner. stay tuned for that. ♪ >> they are telling people that know means we are getting out of the european union, which is completely wrong. channels are supporting them all of the time, terrorizing all of the people. i have known alexis tsipras for about 18 years. he had been a student of mine at the university of athens. he was already a special student, a very intelligent, smart student. blame are that are to these people from the european union and the imf. as you have seen, i have been here all day as a representative of the no campaign. i think the no vote, i think we will get th

those who think it would be better for the rest of the eu to leave the common currency despite all the consequences just referred to and those who think that the consequence s are so severe they have to be avoided and that the disagreement between france and germany over the last several months. >> thank you, mr. chairman. i yield. >> sort of like those people who think it might have been a good idea to let puerto rico be independent, mr. brooks. >> thank you, mr. chairman. i've been pondering american history with europe while we've been listening to your testimony and q&a back and forth. and it seems after world war ii for 47 years when there was not a european community our relationship with europe was good. then we had -- the eu created seven years worth of phase in and the euro currency comes into play in roughly 1999 and now 16 years thereafter and our relationship has been good. so either way, america's relationship with europe has done well with and without the euro. so to me, the european union issue is more of a focal point for the european nations and they should be the deci

the nation has given my government the strength to negotiate sustainable support measures with the eu. >> the final referendum was a 61% no against the nearly 39% who voted yes. >> this is the poll for tomorrow. >> we should somehow find a common feed of understanding. okay. we should know our strengths up one side and the other. because greece is a great place in the world. >> tsip pras is expected to call for more aid. european leaders were more varied if their response with athens at the referendum. german chancellor angela merkel and french president hol lande will discuss the situation on monday. a summit meeting has been called for tuesday. the european commission said in a statement that it respects the referendum results, but euro group chief says measures and reforms are needed for recovery of the greek economy. >>> officials of the japanese central bank are bracing for the market turmoil. >> james a lot of focus on this topic. officials say they will keep a close eye on the situation and take measures as needed. finance minister notes that japan's direct economic and financi

. >> jacob kirkegard even if greece secures a new loan from the eu the conditions would be strict. >> formal esm program a program as comprehensive as the regular imf type program which will mine that the conditionality that greece will be asked to sign up for, will be arguably more rigorous than the conditionality that the greek voters rejected at the referendum last week. so this idea that alexis tsipras should have a stronger mandate to negotiate with the european partners after the referendum, is basically a memo that the rest of the euro zone has not gotten. because this is not going to be an easy program by any strej of thestretchof the imagination. and if there is no deal, come monday the other 18 members of the euro zone, or all the other 27 members of the eu have decided to cut potentially greece loose. so you could find yourself with a situation of a directly imploding economy in greece already next week as well as a process a longer term process leading for country's departure from both the euro zone and the eu as a whole. >> reporter: now nearly 1300 listed countries in ch

that is from the eu chief who just tweeted that out. there have been background briefings from the united states and the iranian side. basically, the bottom line is as we know, the perarameters are similar to what took place after the marathon negotiations in april. they have now been finalized. in short, it is formally legitimizing and recognizing iran's nuclear program, however, putting very very considerable restrictions on it for a long period of time for ten years or more depending on the parts of the agreement we are talking about. there were crucial sticking points mostly around the formal security resolution that will enshrine this. amongst those, the lifting of arms embargo. iranians refuse to use the word arms embargo. we will allow managed access. this is the military side. they will allow managed access to the military for them to be able to inspect what they have done in the past what they are doing now and, of course rigorous inspections. regarding the arms embargo, they don't want to use that term but they understand for a

we are members of the eu, nato, the commonwealth. all of these give britain an opportunity to play a significant role for the good of the world. in the moral sense and in the sense of protecting our national interests. protecting national interest and especially with the way the gun is starting today and they will be able to deliver further efficiencies. i do not think that savings on the scale are indicated by the fiscal trajectory can be delivered simply by carrying across it i think we have to look to make some strategic decisions on where we need to focus and where we have to downgrade and for me, personally, the crown jewel of foreign offices capability is the network of international platforms and missions around the world and we must seek to protect that sharpen presence in addressing the need for further efficiencies and we will look to do that over the coming months. in that context i think that we should note that the response to the atrocity and the earthquake in nepal have been increasing expectations that people have in

johnson: i don't want to leave the eu. i've never campaigned for leaving the eu. ink the stakes are much lower than they used to be. i think the arguments changed from 40 years ago, when britain last had a referendum on this subject. the eu market is smaller than it was as a share of global gdp. it is a very different proposition. anna: he argues that we are in a stronger position to negotiate with europe. i pointed out that the last country that tried to play hardball with germany, things didn't go so well. speaking of greece, he said he thought it was a sad state of affairs. on a slightly lighter note, i pointed out that the greek embassy owes 1.3 million pounds to the london mayor and his colleagues. i wanted to find out from boris if he was in any hurry to collect this money. he was keen to point out that there are other debtors in that camp, notably the americans. mr. johnson: the americans are owed about 8 million. you might talk to mike bloomberg and his friends. then we will see about the greeks. anna: all joking aside, one other serious subject was heathro

the eu official says fornds are quote very that greeks. ost 1% against the yen as investors look for safe haven. a group of world powers may be close to a nuclear deal. the senior diplomat involved are a keyments sticking point. let's take a look at the markets we are seeing in asia. to new zealand, where the sentiment in greece is waiting on investors. new zealand is down close to a fifth of 1%. new zealand dollar under pressure as well as the aussie dollar. we are counting down to the opens in australia, japan, and korea. .ast week, it ended up let's take a look at the nikkei nikkei 225. we had recovery in china and hong kong. here in asia, pointing to a higher open. -- dollar-yen is strengthening. well returning -- returning to our top story, this is what is driving things. the countdown is on. hours awayust 72 from having to accept calls from austerity. ryan, how will people react to these latest demands? -- ryan: i think many people here in greece think the demands have been unfair and of thenable, and i think most recent demands are l

attention is focused on how the eu will handle that debt. greece will hold a national referendum on sunday on austerity measures demanded by the eu. >>> prime minister alexis tsipras made a last-ditch effort to win support from creditors. tsipras sent a new proposal to eurozone finance ministers just hours before the deadline. he asked for another extension on the current bailout program. and a new two-year funding and debt restructuring program. the ministers discussed a proposal during an emergency teleconference tuesday night but they denied tsipras the eleventh hour extension. >> now it isn't practical for a couple of reasons. it runs out in a couple of hours, but also politically the situation hasn't changed. there is no new ground to go back to that. >> german chancellor angela merkel has ruled out further negotiations until after sunday's referendum. and she criticized leaders in athens saying it's them who decided to cut the bailout. germany's finance minister says he advised the central bank not to raise provisions of liquidity to g

marc: grace has basically rejected the austerity proposal by the eu. what we will see is essentially the ecb will either have to attempt to continue to pump money into the great banking system or they will have to stop . everybody knows in the world that greece cannot pay its debt at the current size, so what will happen in my view is either greece will leave the eu and suffer very badly for a few .onths, maybe even longer there will be a cash shortage. for the eu and the ecb and the imf will have to cut a significant cut. and has been proposed something like 30%. i do not think that is enough. i think they will need a cut of at least 50%. matt: there was arguing for debt forgiveness saying germany received a lot of debt forgiveness after the second world war and he thinks they should extend the same kind of offer to greece. what do you think of that argument? marc: i agree they should have a debt forgiveness, but if you forgive debts and then continue to pump money into greece and they don't compromise themselves because the government is bloated in gr

host: why has germany been the focus of the eu's efforts? guest: i see it in the headlines that people talk a lot about germany, but this is a collective problem for the whole eurozone. germany is the largest economy in europe. it is by far the biggest contributor to any bailout. of course, this is a big issue domestically. german taxpayers are being asked once again to get into the pockets to help a fellow european member states. that is why germany is an important part of this debate. i think it is important to say that many other countries have strong views about these issues finland, slovakia, netherlands ireland, italy. portugal and spain have been beneficiaries of bailout programs successfully and use them to transition and return to the market. they also have these about how this should be done. host: politically, is this unpopular in all the countries of the eu? take your home country of ireland. guest: let's be honest. nobody likes a difficult economic situation. nobody likes having to trim public spending, including cutbacks for cer

the measures taken that into account. creditors and euly started to lose trust in greece, wondering whether it will actually in a meant what it says -- implement what it says it's will. that is why the measures need to be put in place before any sort of bailout. we are 12 hours into the meeting in brussels. we are not back in full session yet. alexis tsipras wrote off to have a bilateral with angela merkel and francois hollande. it is hard to tell when the meeting will end or what will come out of it. clearly, creditors are asking leaders and finance ministers are asking more of greece. the big question now is whether the greek parliament will approve this and push these through and avoid a grexit. the talk of grexit at the moment has not been strong. the only thing put forward is a potential timeout for greece from the eurozone. germany has been pushing the line, but france has rejected it. rishaad: thank you very much. five minutes pass for in the morning in brussels. let's have a look at other stories we are watching today with shery a

in default, close to bankruptcy and an exit from the euro. >> here to declare we want to stay in the eu. >> reporter: forcing them to close the atm's that nearly run dry and making a lot of people angry and scared. >> things are very bad, yes, very bad. >> you have to stand in line. >> to get our pension, yes. >> i have my work, i have my children, and i'm going about the future. >> reporter: the difficulties hitting the greek society crippled by years of austerity in cuts, growth down, unemployment up, shortages all around. concerns expressed by president obama today. >> it's very painful for the greek people and can have a significant affect on growth rates in europe. if europe's not growing, the way it needs to grow, that has an impact on us. >> reporter: the deteriorating conditions reportedly moving the government of prime minister alexis tsipras to talk with the eu in the last 24 hours about a last-minute deal. brussels made one offer, greece countered with another. still going forward, a yes-no referendum sunday whether or not to go with the european union's about the debt. fast

after that, the eu ambassador to the u.s. to talk about what is going on in greece and the eu. is is "washington journal." >> when francis fulsome married president grover cleveland she became a first lady with many first -- she is the first and only first lady to be married in the white house, at age 21, the youngest to serve as first lady, it and she lived an additional 51 years after leaving the white house. longer than any other first lady. francis. , -- frances cleveland, the sunday on "first ladies" at 8:00 p.m. eastern on american history tv on c-span3. >> this sunday on "q&a" artist and journalist molly crabapple on her use of drawings to tell stories from around the world. molly: he might be reading a story from the black panthers, or drawing a design for a tattoo. i go around with a sketchbook and i draw, and a lot of times that is not to show the finished drawings, but to build report with people. often when you have a camera, it puts a distance between you and the person. you are taking these images. they cannot see what you are taking. it is almost than parikh in a

last month the eu extended those until january. but they are hurting ordinary russians more than its leaders. >> reporter: the shelfs are full but polish apples have been replaced. there are no french cheeses nor will you find any meat or dairy product from the u.s., canada or australia. it's costing them more to feed her family than it used to. >> translator: the prices have gone up and i think many people like me find any deals helpful. all categories of food have gone up. >> reporter: she has fewer rubles to spend than she did before the war start in ukraine. the eu, u.s. and other nations wanted to punish moscow for its part in of the crisis. imposing financial and trade sanctions. in turn, russia imposed its own measures, including a block aid on many agricultural products. coupled with the drop in worldwide oil prices, the ruble has slipped against the dollar making everything more expensive and the market more volatile. but what has according to the polls, remain stedfast is support for the russian president. his gamble until

reporter: on sunday, pavlos voted yes for the austerity policies the eu is demanding. now he's worried that the majority no-vote will end up leading to greece's exit from the euro. pavlos: i don't want greece to leave the euro. then all the austerity measures up to now will have been for nothing, at all. reporter: the paliakis family have made a lot of investments - - in this gyros and souvlaki shop, for example. they hope it'll be immune to the crisis. pavlos: even if the taxes keep rising and eating up all the profits, we go on the assumption that the customers will have enough cash left to afford a souvlaki. reporter now, if the grexit : becomes a reality, pavlos says the no-voters in the referendum will be to blame. ioanna kapatou opposes the austerity policies demanded by the eu. like many young greeks, she voted no. ioanna: no doesn't mean, you know, that we want to be bankrupt, or we want to exit the eu or anything like that. it's because we want to support the choice we made in the elections five months ago. it's because, you know, we want to see through our gov

djonathan: the conclusion of the eu summit. plenty to get through. we'll wrap it up with caroline hyde. caroline: jack speaking and president of the european council saying a deal had been struck and ready for negotiations on an esm program. strict conditions that will be laden upon greece and parliamentary approval is now needed. we heard from dusselbloem outlining the course of events now. next couple of days will go to the greek parliament to be voted through. we heard from jean-claude juncker saying he was optimistic that the deal would get through the greek parliament. and then to the other eurozone parliament who need to sign off. the lights of germany and we're from angela merkel saying it will be voting on this proposal. greece first and then the rest of the eurozone members will have to sign up and handed over to the rest of the negotiations and will be asked they draw up a deal. understanding where it is taken next. the esm and formal and rest of the imf and ecb in other key players will have to really draw up the fine-tuning of what this de

he's already a seasoned negotiator with the eu. the former deputy foreign minister is expected to embrace a more conciliatory tone with international creditors than its predecessor. he announced his resignation. greeks expressed mixed feelings about the efforts. >> one of the worst finance ministers that served our country. brought us such a difficult situation. i've heard he's a very good economist and so i want to believe he will be much better at negotiating. >> the fact that he has resigned as stressful for me because i think he was doing quite well as finance minister. now with the new finance minister, i do not know how things will go. >> despite the shakeup leaders say greece has to face the same problems as before. >> reese must take difficult measures or the country won't make it. sarah: let's get the view from greece now. janus, so a new finance minister do people have the idea that he can get greece the deal they want? >> the new finance minister of greece. and tomorrow, he will attend the meeting of the eurogroup in brus

he's also expected to push for progress on the free trade agreement between the eu and'sianand's ian asean and they hope that can provide 3 billion pounds every year to the u california economy. very high hopes. >> in that does pass, what will that mean to relationships going forward? actually some investors i speak to are pricing that into the stocks. you can take a look at year-to-date performance interestingly enough. the ftse is up a paltry 2.3% where we're seeing double gains for france and germany. a very different story, something to keep in mind. >> absolutely. actually yesterday the ftse 100 lost all of its gains for the year. this morning, yes, it is up by two thirds of 1% but the big pressure of the ftse is mining the economies. it's always been very well diverse provide beyond what it produces. >> and a strong currency. you can see it in the past couple of weeks and something that they noted last week was the adverse impact on growth although we got uk gdp. 0.1%. not too bad. >> not too bad. but then what are we going to do once they hike rates? they have signaled in the l

the only country that continuously showed its support for greece and tried to convince the rest of the eu. >> a favorable outcome that is essential to everyone. >> harris pulled out all the stops. a team of finance officials insisted the new -- paris pulled out all the stops. a team of finance officials drafted the final. genie: for more now on the details of this bailout deal let's bring in our correspondent from brussels. we have been talking about the fact that there is a deal, but tell us more about what is actually inside. it seems to be the start of the very rough road ahead for greece. >> it is indeed. 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 ve

austerity measures were proposed by the eu. we have tested them and they failed. d something new and we want to test something that is us a new perspective. >> we voted and the government was going to negotiate with creditors in a more optimistic acesbasis for greece. i feel sad about it. >> why do you think he has changed quickly. >> i don't think that he has changed. he can -- angie: for a look at the corporate headlines -- >> they are considering a n acquisition. the ceo who took over after firing jenkins says that they will meet a new law that comes into force in 2018. they will require deposits for consumer operations and investment banks. the new ceo inat reddit says he will not make changes that led to his predecessor's exit. there was a user revolt when she fired an executive and was accused of censoring online message boards. they bought machinery in 2010 and will get started later this year in india. the australian labor cost doubled in the decade and put the manufacturing industry under pressure. those are the top corporate headlines. angie: coming up ne

iran and the eu held talks just ahead of the previous deadline. then negotiators from the five permanent members of the u.n. security council plus germany gathered without the iranians. representatives of the u.s. and eu announced the next deadline is monday. british foreign secretary phillip hammond has admitted slow progress. >> we're making progress. it's painfully slow as you've observed over the last week. but we are making progress. there are still some issues that have to be resolved. >> one sticking point is whether the iranians would allow inspections of military sites where they're suspected of developing nuclear weapons. another is whether the u.n. security council will lift a ban on sales of weapons to iran. the negotiators are due to gather later saturday. >>> india and pakistan are taking full membership of the shanghai cooperation organization. the group consists of russia china and four countries in central asia. leaders gathered with those of five observer states including india, pakistan and mongolia. they agreed to start procedu

the foreign ministers who have been involved in putting together that deal we heard earlier from the eu affairs chief and zarif and iran foreign minister and have not heard from some people like john kerry and german and uk foreign ministers expected to speak as well as the french foreign minister and we of course will bring you some of that reaction as and when it happens, this historic deal on iran's nuclear program, part of a very lengthy process reached at the 11th hour and we will go back to james base who has been following all of the developments on this for us james give us a sense of what we are expecting now over the coming hours. >> well we are expecting to hear news conferences and very important statements on what is a very important day for the middle east. my understanding is that in a couple of minutes that news conference at the austria center on the other side of the city by the u.n. will start and near the top of the hour we are likely to switch to washington d.c. and while we wait i have been pouring through the report and have a copy of the deal here and looking at

he's already a seasoned negotiator with the eu. the former deputy foreign minister is expected to embrace a more conciliatory tone with international creditors than its predecessor. he announced his resignation. greeks expressed mixed feelings about the efforts. >> one of the worst finance ministers that served our country. brought us such a difficult situation. i've heard he's a very good economist and so i want to believe he will be much better at negotiating. >> the fact that he has resigned as stressful for me because i think he was doing quite well as finance minister. now with the new finance minister, i do not know how things will go. >> despite the shakeup leaders say greece has to face the same problems as before. >> reese must take difficult measures or the country won't make it. sarah: let's get the view from greece now. janus, so a new finance minister do people have the idea that he can get greece the deal they want? >> the new finance minister of greece. and tomorrow, he will attend the meeting of the eurogroup in brus

we're members of the eu, members of nato, members of the commonwealth. all of these overlapping circles of influence give britain an opportunity to play a significant role for the good in the world, both for the good in a moral sense but also for the good in the sense of protecting our national interest and we're determined to make the most of them. the process is under way and the spending review is now, i think, officially under way with the starting gun fired today. both will be challenging exercises. i have no doubt about that. i am clear that the foreign office will be able to deliver further efficiencies. i do not think that savings on the scale that are indicated by the fiscal trajectory can be delivered simply by the pairing. i think we have to look to make some strategic decisions about where we need to focus resource and where we have to downgrade. for me personally, i'm clear that the crown jewel of the force office's capability is the network, the network of international platforms embassies and missions around the world. we must seek to prot

he's ready to talk to the eu. the eu though, is already playing cagey. it's saying flatly that greece has got to come up with their own offer, and the only thing one european official was talking about tonight was humanitarian aid for those suffering right now here in greece. and there are a lot of those. because as they went to the bat local booths today the banks in this country are running dry. the lines at the atm are long and there are still cash shortages in various banks. the thinking is if there's not new emergency money coming in the next day or two, some of these banks will collapse and there will be real chaos. ofb, all of this being watched closely by the united states. if there are problems in kbrooes, there are props in the european union. they're important when it comes to trade, economics, politic, even security. probably why the market's first asia and wall street will be watching and reacting. back to you. >> greg palkot live in greece. thank you. >>> we're continuing monitor the situation in greece after the country voted no to new bai

thank our negotiating partners, the united kingdom and france and germany and france and china and the eu for unity in this effort that showed the world can be remarkable things when we share a vision of peacefully addressing conflicts. we showed what we can do when we do not split apart. and finally i want to thank the american negotiating team. we had a team of experts working for several weeks straight on this including secretary of engine ernie and i want to particularly thank john kerry our secretary of state who began his service to this country more than four decades ago when he put on our uniform and went off to war. he is now making this country safer through his commitment to strong principled american diplomacy. history shows that america must lead just not with our might but with our principals and shows we are stronger not when we are alone but when we bring the world together. today's announcement marks one more chapter in this pursuit of a safer and more helpful, more hopeful world. thank you. god bless you and god bless the united states of america. good morning and welcom

the eu going to be dominated by euro dominant countries? ink the answer now is going to be that there are more countries waiting to get into the euro and holding off or at least the idea that there should be eu membership without the euro. buthat is good for britain, on the other hand, this shows the way that the french and the germans in particular are driving decisions and if that is going to centralize things more. the only way that the euro area they look at the long-term goal. so i am not sure if this works for britain in the long-term. pimm: does this work for the international monetary fund and christine lagarde? that theelieve international monetary fund should be looking at ways to get out of this. they should get their payment of the money that they are due, they should return their funds to their members and be ready for the next crisis. be in thed not long-term monitoring of greece, partly because this really is about settlement of debts within the euro area, it is not really an international issue, partly because it is about the

the eu and the u.s. could also reimposed their own sanctions in such a scenario. clearly having made this agreement it will be strong in iran's interest to comply with the provisions of it to avoid a return to the sanctions regime that has crippled its economy for so long. we now need to look ahead to the implementation of the agreement. after such a tough negotiation there will inevitably be bumps along the road. we entered into this agreement in good faith, and all sides must try to is altogether any problems in implementing this deal. but the deal includes robust enforcement provisions, and we will not hesitate to use of them if iran goes back on its word. mr. speaker this agreement is focused solely on iran's nuclear program but its conclusions could have come its conclusion could have wider positive consequences. by providing the means through sanctions relief for iran's economic we engagement with the world, it will allow the iranian people to feel the tangible benefit of international cooperation. as the economic we engagement materializes we will of course

thece -- just under 3% of gdp of the eu. is version territory, no one has ever left the eurozone before, there has not been this kind of a crisis, it is that element of uncertainty that has people worried. tty: what should european leaders do at this point? guest: they say they do have contingency plans. what they have to do is stick to their guns and hold to the position that they are willing to help greece but on terms that are rational and sensible. continuing to be calm, give the greeks an opportunity to come back -- if there is a yes vote this sunday, the greek government has to come back and accept the plan offered by the creditors. betty: is there an opportunity for some rival country -- putin made some comments about russia coming to their aid, or china, or others. is this going to shift the power dynamics around the world or not? guest: i don't think so. the chinese are too sophisticated, and the russians don't have the economic power to do that. this is theater created by the greek government. they wanted to faint

least on our side of the atlantic, i'm not an economist but i read eminent economists as saying the unrelenting euept of austerity, these debts are not going to be able to be established or repaid. the point is being lost by the amateurish behavior of the greek government. >> be ambassador burns thanks for joining us. >> thank you so much . >> up next why do bernie sanders and be be donald trump have in common? be the issue has their opponents scared and we'll tell you what it is when we come back. are. >> we've talked a lot on the show about no-shot political candidates, the candidates that seem to have zero chance of becoming president but still enter the race. pundits and commentators were willing to add bernie sanders and donald trump to the list. but the trump and sanders campaign appear to be gaining traction and their surge continues. the other night bernie sanders drew 7500 supporters for a rally in portland, main and before, a group of 10,000 showed up in madison, wisconsin. the theme seem to be resonating. >> the american people understand that establishment politics and establishment ec

on the eu renegotiation, the committee is aware of process. the prime minister set out his broad areas of concern what he believes reform is necessary. incidentally, not only in britain's interest but in interest of making the eu competitive accountable relevant to its citizens in the future. at the june european council. since then we've agreed with the european colleagues that will be an official level working group looking at some of the potential root for resolving the issues that prime minister identified looking at legal constraints and past opportunities. that will continue through the summer and into the autumn. will continue our engagement with all eu counterparts. i'm pleased to be able to tell the committee that all 27 member states have told me clearly and categorically that they want to bring to remain part of the european union. some have gone much further and said that a european union without britain and it would not be anything recognizable as the european union they know. and they also plan to work with us to assure that the