greece doesn't owe any money to the eurozone until 2020. immediate payment going to the imf and the european central bank. so that's very interesting. you can see, at least, for the next, what five years, and then sort of toward 2024 and onwards, it's eurozone money that he owes. well ralph is the head of economic research and put that graph together. he joins us now. i think he's somewhere around. there you are. i can see you. raul, great to have you with us on the program. you put that graph together and that's really interesting to note. the eurozone scrambling saying you owe the german taxpayers this and that. but hang on greece doesn't need to start paying the eurozone until something like 2020. the most immediate is payments back to the ecb and the imf. is greece negotiating with their own people? shouldn't it be negotiating with european central banks and the international monetary fund? >> certainly, that's one of the takeaways of that graph. there are two key takeaways. the first is that actually this greece has to pay out a lot to

the damage to the eurozone could be greater than greece. is actually the trump card in the background. i think the ecb will blink. i think the euro zone finance ministers will link and the candidate will be kicked down the road again. there has to be a structural convergence and there is no clear realistic prospect for that. >> what is the trigger point question mark >> the politics in this. on the economics, they should have gone in 2012. if you look at the lack of progress on structural reforms and labor costs in the position with the rear exchange rate they should have gone to that three years ago. the difficulty is the threat of makeup and the eurozone will be prepared to keep them in for in another year or two. the central case is in two or three years. it could stagger for a while. there is a disorderly exit earlier than that. the tail risk is it staying home and cleaning up the act. that seems the least likely of the three outcomes. >> let's talk about the most likely. you mentioned the event. where does the contagion come from? >> a

greece is a very smart part of the eurozone. so i think the larger economic impact of that very unlike event would still be fairly limited. >> what's wrong with making concessions to the greek government? or is there anything wrong with it? >> well i think the reason why germany and the other creditor states the states that are lending to greece are reluctant to make concessions to greece because once they open the door to concessions to greece then portugal and spain and italy will say, well why weren't they complying with these programs to begin with. countries like france that germany would like to make reforms, will feel reluctant to do so. >> what do you feel about the ripple effects if a default takes place, the ripple effects to the u.s. economy and the u.s. markets in particular? are you worried about that? >> i think that's a tail risk something we're watching but it's not something we think is likely. and i think if there were to be a greek default, i think its effect on the u.s. expansion this year would be pretty limi

if it does leave the eurozone, i think the risk of contagion to the rest of the eurozone is somewhereund 50% to 60%. >> thank you. in eastern ukraine that's been -- there's been heavy shelling around the main rebel city of debaltseve. so far the agreed cease-fire doesn't seem to be taking hold. as tensions with moscow rise, britain said it scrambled typhoon fighter jets after two long-range bombers flew off the coast of england. and the british foreign secretary is warning that putin is as great a threat to europe as islamic state. joining me frau now from new mexico to discuss is the former american ambassador to the united nations, bill richardson. governor richardson, thanks very much for joining me. there's a lot of focus now on this idea of united nations peacekeepers. kiev asking for peace keepers to go into western ukraine to see if the cease-fire is holding. the russians say, there's no need nor that. do you see any possibility that we'll see u.n. peacekeepers in east ukraine? >> the only way ask that russia agrees not to veto. as one of the permanent members of the security c

we did not see any moves that concerns the rest of the eurozone. ar as you are concerned when i cut through the political noise and the changes, is this an extension of the existing bailout? >> i think it is. you have an explicit reference to the micro financial assistance facility. you go to page three and paragraph seven and it says the completion of the terms with the minimum understanding. that is pretty much what his coalition wants to avoid. it is pretty much the extension of the current program in disguise. not much more than that. >> is it early? >> it is early. i have been going through it over the weekend and, it seems to me, the platform has a bit of discomfort and i would not take a bet on it. i think it is not going to be an easy job to sell the decisions internally. >> we talk about greece while this is going on. the pmi has been improving for the rest of the eurozone and credit zone is less bad. that is a low bar. let's talk quickly. it is expected to rise. how disappointing with that be? >> i do not think it is going to be very disap

we are not in the eurozone. greece is plain hard into the debate because people look at germany -- and their thinking -- i know it is distasteful to say this -- they are saying did we fight world war ii so germany could destroy democracy in greece? that is being set in the building behind me. amy: paul mason, thank you for being with us. the economics editor for channel four news. he is working on a documentary. his most recent blog is "leak and counter leak, how not to get a deal." we will follow this story, and what is happening in spain with the podemos party, very much like greece. you can see our interview with pablo iglesias, the young 36-year-old professor who heads up podemos and some polls project he could take the next national election in spain. this is democracy now. we will be back in a minute. ♪ [music break] amy: this is democracy now!, democracynow.org, the war and peace report. i'm amy goodman. over the past several years, democracy now! has closely looked at the government's crackdown on whistle

the largest part 100 42 billion, comes from the eurozone bailout fund. if the 3 billion are from the first rescue package specifically for greece. the country also owes the international monetary fund 39 billion. greece has until 2057 to pay this money back, but it needs to start reducing the principal this year. 8 billion euros need to go to the international monetary fund. even in the year 2054, greece will still be repaying more than 10 billion euros, but at least greeks will not be burdened with all that much interest. the interest rate on the first rescue packages only 0.6%. nonetheless, greece will struggle to repay its debt for many years to come. >> investors were, of course, keeping a very close eye on development in brussels. it turned out to be a fairly mixed picture. german blue chips finished the day in positive territory. our correspondent sent us this summary for frankfurt. >> the german equity market to date moved to the tune of the negotiations in brussels between greece and the rest of the eurozone. whenever there was a glimmer of hope w

a good gauge, of course, of economic growth across the eurozone. german pmi which accounts for fifth of the economy come at 50.9. the number out of december did disappoint according to surveys for purchasing managers. the eurozone economy picking up in january. as you can see the euro strengthening against the u.s. dollar at 113.28. final manufacturing pmi coming in at a six-month high. we'll have that has been predicated on the lower oil prices. many manufacturers are hiring more. which is signal. >> we're starting to see the effect. on that note we're keeping a close eye on earnings. julius baer shares are trieding higher. the swiss bank introduced a cost cutting program. caroline is inzurich. >> good morning. shares are outperforming on the sm,000 morning. there are high advisement. 7.7% this morning. on a couple of factors. let me kick off with earnings. it wasn't so surprising. it wasn't the big surprise coming from julius baer this morning. the big surprise it was the dividend number. we got a one franc dividend and it's much higher than many

we will get the complete numbers for the eurozone. nty more to come as we go through the morning. if you are interested in the french economy specifically, we will be talking to one big company a little later. the ceo of l'oreal. he will be speaking to us exclusively here at bloomberg. >> the top stories, angela merkel says russia will face further sanctions they do not lament the piece deal she helped broker -- do not implement the peace deal she helped broker yesterday. the cease-fire arrangement is due to begin on sunday. greek prime minister elect says his nation is seeking a new contract with the euro area on how to continue the bailout. this came after he met with eu leaders. he said their goal is an agreement that would lead to new deals with authorities. after announcing 10 million kroner of bonds, sweden's governors said they are prepared for more qe if necessary and they cannot afford to rule out interventions. >> you never know. you are in an uncertain world. we knew that would not be our first choice. but never say never. >

take the eurozone as a whole. l those countries together hit three-point 6% only once in 2000, and now it is back below zero. let's go further back. in 1970 -- since 1974 only three countries have average greater than 5%. belgium spent the 90's trying to meet eurozone standards. greece might have considered during the same, but that's water under the bridge. according to the center for economic ellis e research, countries that hold a surplus over time tend to have that economic policy research countries that hold a surplus over time tend to have control by one country. these countries tend to have a high level of debt, which encourages them to save. they are likely to have a positive balance of payment. that is more money coming in than out. they are likely to say that a time of economic expansion. can greece make it to 4.5% as the current agreement demands? probably not. can greece make it to 7.2% and pay it's that down? no way, no how. yes, when pigs fly. >> the odds are against greece when it comes to the curren

that is now in the hands of the eurozone. ut in a few hours' time whether they approve what the greeks have sent them. >> we spoke to when economist a short while ago and we are focusing on the eurozone and the german lawmakers voting on friday. it is important to said that the greek parliament will have to vote on this. when you walk the streets of athens, are they still behind them? how dangerous confections within the party become? >> it appears as though it is not too dangerous for the moment. there is a cabinet meeting that is starting very shortly. the prime minister does have to keep his party in line. there are certainly a number of factions within the party. sure, it is fractious and there is work to be done, but the government has been in power for only a matter of weeks. it would be nothing short of tragedy if there were an internal rebellion such that the government collapsed before the four bailout extension could be completed. it is going to be a difficult for months, that is sure. i don't get the sense and i don

yields to journey -- germany with record lows across the eurozone. b haven't even bought a bond yet. guest: again, as i said the off-balance-sheet commitments were so important because qe was not something which is in my opinion so important with the u.s. because there was no previous off-balance-sheet commitment in those economies and countries. that being said it is extremely important that for the euro area as a whole, we have an increase of inflation and that depends very much on the countries that have room for maneuvering that have a big surplus and a high level of competitiveness. that is the reason why i was mentioning the fact that the bull ins in the camp of the countries concerned. not only the executive branches but the social partners. jonathan: i want to wrap up talking about not just europe but the whole world and global economy. the federal reserve and the bank of england are possibly going to be hiking rates later this year. in your experience when you were worried about inflation being too high in your experience, was that a mistake

greece's future in the eurozone is high on the agenda. the danger of greece leading to a bad outcome is increasing. he said the risks to the world economy and british economy are also growing and he is urging other countries attending the g-20 meetings to find common solutions. in an injury -- in an interview with bloomberg in istanbul osborne talked about the risk and how he is planning to deal with any outcome. >> it is clear the risks to the world economy, the risk to the british economy on the standoff of the eurozone and greece is growing each day and i think the risks of the miscalculation or misstep leading to a very bad outcome is growing as well. here at the g-20 we are urging all parties to this dispute to try to find some common solutions. we are also stepping up our preparations for whatever the outcome may be. we have to make sure that the british people are best protected from whatever develops in this crisis. it is unclear the greek exit from the euro would be very difficult for the world economy and potentially very damagi

>> there is a risk that greece leaves the eurozone. ess than 5%. >> i've heard numbers significantly higher in athens. >> it is not the greek government's intention to leave the eurozone. if greece leaves the eurozone its problems would be multiplied by a factor of 10. i don't think alexis tsipras wants to be known as the man who led greece to a new economic depression. similarly, european authorities don't want greece to leave either. what you are looking at is, is the risk coming from these accidental parts of the fence that sometimes happens? it is not the intention of either side to have them. accordingly, greece remains in. >> one quick weston. if that were to happen, would you have to price the eurozone as the erm or the emu? how to you look at the eurozone? >> we believe it is not systemic. then you price the eurozone as monetary union. this is one big exception. it is extremely unlikely to be repeated elsewhere. never say never, but you are not looking at a system where you have to manage your exchange rate risks as carefully as

if they do, that will highlight the diversions with the eurozone. as we are on track for then, the dollar continues to move higher. the risk is that the high push back into 2016, that is when the dollar bears come out of the woodwork. >> a previous guest was talking about how the fed hike was priced and even in the e.m. space. do you subscribe to that? >> a fed hike is priced in. if you look at what is or to having a to yield, what is going to happen to two year yields, we think they are going higher in the u.s. if the fed does start to tighten, the market will price in more hikes. from our perspective, yes it is priced in. there is going to be more yield support and we think the dollar is going higher. >> everyone is talking about diverges. 2015 has been about easing, rate cuts. china no different. if i want to play the china theme, should i go to new zealand? is that the story right now? >> for a start, the point we make on china -- we think looking at the run in the there's too much bearishness priced in. one of our points is to own the renmimbi.

we're not talking about greece leaving the eurozone. that is where there is potential for inconsistency. on the one hand, people are worried enough where it is preventing them from investing in european stocks. at the same time, assets that should be exposed, the worst scenario that would be worrying people are for more relaxed -- are far more relaxed. >> spreads remaining relaxed. where are the opportunities? >> i think there are couple of areas that stand out. maybe i will move geographically a little. in the u.s., it is credit market story. that you have, i think in the midst of the s&p at all-time highs in other markets behaving well, the u.s. credit, whether it be investment grade or emerging-market dollar debt has been in a pretty bad selloff since the middle of 2014. yes that has come back a bit in the last couple weeks, but it still stands out relative to other asset classes. in an environment where yields in europe are so low, yields in japan are so low and where the net supply of government bonds is so low after all of this q.e

we will speak to someone who says greece has to go out of the eurozone. want to miss that, coming up and stay tuned, that is coming up on the next hour of the program, and we will bring you the latest on hsbc. the bank gives earnings, and we will have more on that, when we come back. ♪ bikes prime minister tsipris defined financial measures ahead of today's deadline. we are live in berlin and happens. >> the pharma dealmaker acquires a purchase valued at $14.5 billion. >> hsbc reports earnings. we will tell you what is at stake. ♪ hello, welcome to countdown. >> coming up we are going to speak to somebody who says greece has got to go. you won't want to miss that interview. it is the head of the economic institute. >> let's talk about greece. in athens the greek government feels the pressure to come up with reforms that satisfy demands of euro area creditors and the anti-austerity party at home. the prime minister and his finance minister have until night -- until tonight to work out the details. we are live from germany and also from greece. hans nichols

the eurozone is saying no. after acute impasse, that is the problem again.reece says we will do whatever it takes. that is not going to work when 240 billion euros. the french minister will meet halfway within two days. these talks are not a gain. it is quite aggressive. first of all, you can see it is what happened before the meeting showing how skeptical he is. the history of the european union, nothing is ever come out of ultimatums. in the history of the european from crisis toed crisis and this is how we prove it. that within the next few days, any notion of an ultimatum is going to be withdrawn. -- ifking with his people everything that has happened within the last few days, on very skeptical because the greek government has not moved at all. this is not a question for negotiations. actually wants. whether they want to get on the path or win back the trust of the markets. a meeting last wednesday and that one on thursday. this meeting on monday and zero conclusion. ultimatum by friday. the money actually runs out 11 days from now. >> what do they want?

we must build a plan for greece in the eurozone. l see what other technical issues have to be dealt with. first of all, we've got to speak, to talk to each other. >> president obama has spoken by phone with the russian president and the ukrainian president as representatives from russia and ukraine prepare to face each other at peace talks in minsk. the german chancellor and french president may also attend the meeting which aims to end violence in eastern ukraine. if the talks fail, russia could face fresh sanctions. obama said on monday that he hasn't ruled out providing weapons to ukraine. a record sale for english football. the chief executive announced that sky will take over broadcast matches from england's top division. that is a 70% increase over what they paid for the last cycle. sky will broadcast 126 games in the u.k. starting in the 2016-2017 season while bt will show 42 matches. italy's second-largest bank increased its annual dividend to seven cents a share from five cents. joining us now is carlo messina for a bloomber

the extension needs to be ratified by eurozone members. 542 lawmakers voted in favor. it was the biggest majority by far for any eurozone rescue package in the 631-seek chamber -- 631-seat chamber. >> overwhelming majority of german parliamentarians voted this morning, just moments ago, in favor of extending the bailout degrees 542 voted in favor and only 32 voted no, with 13 abstentions. there will no doubt be a sigh of relief across the eurozone, most audibly in athens this morning. wolfgang schaeuble led the debate, who has been a top critic of greece, but is very pro-european and wanted to quell any skepticism among parliamentarians today ahead of the vote. he said this is a vote of solidarity not only with greece but also with members of the eurozone. he and other parliamentarians who spoke his morning in favor -- this morning in favor of extending the bailout said that germany has benefited most strongly from the euro, more than any other country, and that it can only continue if they continue to support other eurozone countries. the critics in the debate this mor

. ♪ is greece out of the eurozone? ay be closer than ever to an answer. >> athens sent a request to the european union to have it loan requested -- extended by six months. the reaction from berlin was no. the german finance minister said the request lacked a proposal for a solution and accused greece of trying to keep the bailout without meeting the terms. >> there is only a week left until greece defaults on its debt. >> it was a previously unthinkable move. in accepting continued supervision by the ecb, imf, and eu the greek government recognized financial obligations to its creditors, but in talks to eurozone finance ministers athens called on its partners to show understanding for the country's financial difficulties. >> i believe all the conditions are there for a mutually beneficial solution tomorrow. and i believe this will be the result at tomorrow's euro group. if any case, if there is a negation of this huge effort that has been made, each person will have to take responsibility. >> but in a frank statements,

there are fears that deflation could be on the cards for the eurozone. consumer prices fell in january. inflation is the second-largest economy in the red. lower prices sound good for shoppers but there are fears it could weigh on the economy in the longer term. it will be cheaper further down the line for companies and it could lead to higher unemployment. >> if we continue in this direct shannon, risk is salaries will follow. in one or two years of the trend continues we could enter into deflation in france. >> we have a few more stories to tell you about. shares dropped thursday, ending the trading day 5% down. the airline group posted a loss of 198 million euros. the carrier was down i a 14 day pilot strike. it would have been profitable without the walkout. they continue to cut costs but they are uncertain as the airline refused to make forecast for 2014. the world's largest food maker is struggling -- shrugging off. nestle dropped by 44% last year to 14 and a half billion francs. it was more than expected. nestle sales slipped as the currency apprec

there are too many people working on this in the eurozone. nk robert is right in the package you just had. there will be a deal of some sort. they will reduce heymans, make them contingent potentially on growth and on the primary surplus in greece and still keep that redline for the german shepherd no debt write-downs and some solution will be found whether it is today or in two weeks. history suggests they will try to put it right to the deadline. this is very much brinkmanship. we have got february. kicking it down the road inconceivable. >> you do not rule out greece leaving the eurozone? >> no. i think it is almost certain they will leave at some point. the question will be what is going to be that trigger point, and my own view is when we start moving beyond a conversation about the debt deal and having a conversation on the kind of spending plans when they start to get implemented, will the germans say no, and if they do -- >> it is a suggestion that greece can leave, and that has been a rubicon for many at the center to contemplate, and

for now greece stays in the eurozone. but if the plan is not agreed to by the eurozone, then it will take another step. greece is actually more up indebted than ever. >> these are the children whose parents lost ability to care for them, many during the crisis. there are more than 300 living in a foster care charity. not only does it not seek state subsidies, it also pays $130,000 in taxes each year, almost five times what it paid before the crisis. with that money, it says, it could care for another 25 children. >> we have a lot of important charities and institutions in greece, they could increase the work but they cannot, not because they're lacking of any governmental subsidies or support, but because the government by taxation is taking the money by private donors or givers to those charities for making and doing what the state should do. >> taxes have risen sharply during the greek crisis. partly to repay creditors in emergency loans. but so have arrears. greeks now owe the treasury an unprecedented $86 billion and t

the 18 finance ministers of the other eurozone states know that time is against greece. i do expect them to clearly tell the greeks, there are face-saving cover mise is, but you cannot afford electoral promises. >> when you say the greek have to back down what is -- >> of course. >> a lot of it is game. , isn't it? >> you can call it game theory. the other players are not in a weak position. i hope the finance minister is not going to play this like a game theory. the news over the weekend suggests that indeed the greek optimism that a deal could be struck and the pervasive pessimism anywhere else does suggest the greeks are the ones starting to realize that they have to back it up. greece agreed to the bailout. it cannot just say, we are no longer bound by previous commitments. the entire european union is based on previous commitments. >> they think they have that mandate and there has been anti-austerity sentiment across all of europe. is there not an assumption that austerity had been imposed and just doesn't work? >> look at spain, portugal, ireland. the policy does

they put forth a proposal for the six-month extension of the eurozone program instead of renewing the existing deal. however, germany has firmly rejected any such move. reporter: battling it out to find a last-minute compromise. after germany gave a resounding "nein," europe's finance ministers are working on a take-it-or-leave-it program for athens. greece could run out of funds by march, not to mention increasing fears of bank runs. they called the extension request a trojan horse. germany's economic minister took a more diplomatic approach. >> this offer is not sufficient. it lacks concrete measures that need to be taken in grace. >>reporter: germany has the clout to block a deal, which could further isolate greece. berlin and brussels want athens to commit more clearly to its current credit terms. the newly elected prime minister 's government must stick to its anti-austerity campaign promises , even if the clock is ticking. >> we are not at odds with germany. we have a public mandate which asks for an end to austerity and the bailout, and our government cannot and will not deviat

greece and the eurozone are working towards a deal. government says by tomorrow morning it will submit a number of policies in return for the eurozone money. the shipping executive says they should stay in the eurozone. >> it is a political and national consideration. i wish it would be left alone in this part of the world politically. it would be a disaster in the economic sense. >> reports from los angeles

the bottom line is the eurozone as a whole is the latest numbers are showing is doing well. german economy grew twice as fast as people expected. the spanish economy is three times as fast. so there is no question in my mind that the eurozone controlled this problem. >> when not in hamburg, there was an alternative to germany for the first time, anti-europe parties. >> that is part of the deal. if the germans look at the greek finance minister and saying paying back the debt is absurd than the german say why should we be part of that? it is a natural reaction. i am not going to say that out louad -- >> we are not going to fix it today and we won't figure out world peace, either. thank you for joining us as we continue to count down to greece. >> up next from a reported popstar to an anthem of full democracy. >> one man's life-changing musical journey. ♪ >> there is hope for us yet. >> not when it comes to singing. if you dreamed of giving up your day job and changing your life this could be an inspiration. >> he went from being a london reporter with a dream to a popstar in

greece is not the monster it once was to the rest of the eurozone. euro has a little bit of leverage when they get around the table tomorrow. i take you to crude. it dropped below $50 per barrel yesterday. we are down 3.62% today. is that going to spell out into the ftse. greece is one theme, the bond market is another, and a big move in the commodity market. >> jonathan ferro with the latest on the markets. the world's biggest food company, nestlÉ, reported numbers earlier today and a key twist exporter has -- how is the company dealing with the swiss franc? >> caroline hyde is here. >> this is a company based in switzerland that is 98% exporting its goods. it produces a lot of its goods outside of switzerland. where it could be hit by the swiss franc is research and development. about half of all research and development for nestlÉ is done within switzerland and they say that will be impacted. overall, they are saying it does add another dose of uncertainty into 2015. currency shifts knocked earnings per share by the tune of 6%. they say they have

they know that greece can be forced to leave the eurozone if its liquidity is cut off by the european central bank and the eurozone countries. so yes i mean people have shown a remarkable kind of courage. nonetheless in gathering around this government and showing solidarity as much as possible as a nation rather than a left-wing faction. having said that, there are of course, those who disagree with a lot of the specifics of what has been said. they think we've take an step too far and treaded on european toes and on the traditional values of consensus within europe. >> ifill: you're talking about the popular party just elected to government. so what is it the e.u. is asking for and what can they hope to get realistically? >> well, i think a two-stage approach here. there is first approach and first stage where basically the e.u. is telling the new greek government, you have to ask for an extension of the existing program with greece. what that basically is saying, it's symbolic. what it means is that you, a newly elected greek government, have to accept that in a currency union, you

neither berlin or athens wants greece to leave the eurozone. so those governments are clear about what they want. doesn't mean it's popular with the people. but here in berlin what is clear is they're very unhappy about this bailout extension and the north are convinced that athens will connect with the group and say what it says it will do. it's like the least bad alternative. because any forced exit out of the eurozone for greece will probably be more expensive for germany, because it will be more unlikely that greece will ever be able to pay that money back. and i think people here in berlin are very aware about that. >> damien mcginniss in berlin thank you. >>> a prominent bangladesh american blogger known for his atheist views have been hacked to death during a visit in dhaka. relative who is lived in the united states had traveled with his wife. he had been criticized as being anti-islamic. police are still investigating the killing. more details from dhaka. >> it happened last night. when the blogger along with his wife were coming out of

given the fact that the ecb wants to force some simplicity the eurozone to stave off deflation? ld seem counterintuitive. alan: that is right. it actually worked in the united states. monetary policy triggered a regrowth in united states economy, and people are seeing that europe has learned from the united states, and they are looking to employ the same method. mark: when you hear a story, say what has been happening in greece, does that give you cause for concern? do you fear contagion that could be insightful -- and tactful on your business? alan: that will actually lower production costs in the area and we make a product that goes into solar cells autos, silicones, consumer products -- all of these products have been growing rapidly, so production cost is what is key to us. a weaker currency over there will help us become more competitive in that environment. mark: you talked to us about some of the industries that could see the most benefit from the merged companies. you talk about consumer products. if you are a consumer, watching this interview, you are saying what is this

. >> sessions on the eurozone has to stick with the current bailout for now. plus in an apartment block goes up in flames. >>> yemen's president hadi leaves the capitol. he had been put under house arrest. this is a stronghold for hadi and his supporters. now the suggestion is that we may hear from him fairly soon, and he may spell out what he wants to do. >> yes that's what we've been told here. we have been told that his resignation was not a real resignation because he was under house arrest and control of the houthies. every is waiting for president hadi to spell out the truth of what happened in the last few weeks, and more importantly if he maintains his resignation. there are many who hopes that he'll reverse his resignation. many want him to lead against the houthies and also he's going to give a speech in the next few hours. we heard in sanaa the former president is trying to convene the parliament, which has the majority of loyal he's to ali abdullah saleh and there is an expectation that the parliament would anticipate hadi's speech, and say we will

denmark thomas switzerland and the eurozone facing a similar problem. the u.k. host these business conferences, and we also face low-inflation here as well, how are we going to deal with that? ramin: the numbers have started to pick up in the u.k. and the pmi's look really good. we think if there is a fallout in greece, the u.k. might be one of the places to get exposure to equity. i think this whole story is a global one because china is exporting deflation globally with sluggish demand and less commodity tested growth. i think it is one which will continue for months to come. >> we will show you how london does u.k. politics. the potential negative impact of a grexit, what about a brexit? how concerned are you and if we should be concerned about europe denominated assets, what about sterling? ramin: i think sterling would be seen as a safe haven. the possibility of a brexit would be a big negative for the u.k. if we were to consider it especially because it contains uncertainty. i think it will be better to have more integration from europe than less. either w

and the country may soon be forced out of the eurozone. ill have a live report after the break. >>> european finance ministers say the ball is now in greece's court. talks between athens and its creditors broke down on monday moving the greeks one step closer to leaving the eurozone when its bailout program expires at the end of the month. >> greek officials again rejected a proposal to extend the current program. they say they want to stay in the eurozone but without maintaining austerity reforms. despite the failure, greece's new finance ministers he think something will get work -- greece's new finance minister says he thinks something will get worked out. >> i have no doubt that in the next 48 hours europe is going to come together official economy together and we shall find the phrasing that is necessary so that we can submit it and move on to doing the real work that is necessary to establish common ground and to billion a new contract between greece and europe which will be both good for greece and for europe. >> very optimistic. we'

greece for now stays in the eurozone, traders at the new york stock exchange, cme group and nymex are here for a reaction. we have cooper anderson, green haven chief financial officer. right off the bat, i begin with the nymex, and we see exactly,

is having on the eurozone. >> sweden denmark, not just the likes of germany.re you still working to pick up those government bonds? >> i would say look at the u.s. treasury market. from the u.s. investors perspective, they can get nervous in terms of below level treasury yields. it looks good value as well. i do think there is this degrees, an expectsation of further flow of funds, especially if we had language that would indicate there was some pop in u.s. yields. that there is a move in monetary policy. as we look forward through the year, it would not surprise us to see perhaps less attractiveness from a european bond market perspective and more attractiveness from a u.s. treasury perspective. >> the c.e.o. of europe and asia trust management. i.m.f. chief christine lagarde announced a package worth $40 billion. that includes aid and contributions from the european union. good news for the ukraine's economy, at least for now after almost a year of conflicts, concerns continue about their ability to service their debt. they still need to pay back debt to rus

it's in the eurozone's interest. after they've had such a hard line stance isn't there going to be feather puffing now and they'll take it to the 11th hour and maybe even ask for another month of extension. >> it's an issue of whether they need more money for to scare have the period. i mean, if they push their own finances very hard maybe they can get it until may. from the ecb side provide liquid to banks. that's probably possible as long as we have a discussion going. but the discussion needs to be realistic. ecb already made it clear they don't see the current proposals from greece as realistic, and therefore they basically excluded the collateral. >> in looking at this with the eyes of ab economist and having seen contagion in the past do you think there is truth to what the finance minister was indicating that, you know -- >> other countries -- >> yeah. that italy might follow greece. >> of course. we're seeing high debt levels across the board. it's not only for governments. it's also private sector. and there'

we must together build these plans for greece and the eurozone. what are the technical issues that have to be dealt with. first of all, we have got to talk with each other. i think that is what was lacking until now. >> hans nichols has been following the story from germany and joins us now. what can we expect from brussels today? >> we are going to get the formal presentation of our plan and how he plans to have bridge financing until june. in athens it's very clear there is going to be no way back. he is doubling down on his position. the finance minister in germany was just as resolute. he was speaking in istanbul. he talked about there being no way to extend it. if greece wants her and this program, get out of the bailout program, that could be a final straw. >> we won't negotiate a new program tomorrow. we have completed a program tediously. i can remember precisely it was the end of 2012, and actually the program should be checked quarterly by three institutions which are the european commission, the ecb, and the imf, which we no longer call

but their eurozone creditors won't compromise on the package which expires at the end of the month. finance ministers from greece and 18 other eurozone countries got together in brussels to discuss the bailout. they ended four hours of negotiations. >> the disappointment over the fact that there was still no firm common ground on what such an adjustment in the program could look like and how much of the program would actually be carried forward by the new greek government. >> finance ministers from eurozone countries issued an ultimatum. they said athens has until friday to agree to extend the deal on its current terms. but greek finance minister rejected the proposal. he demanded eurozone countries compromise by winding back austerity measures, and reducing the debt. now the euro group president indicated that eurozone ministers are prepared to be flexible, but only if greece agrees to an extension. he said they would be open to another meeting on friday depending on what greece intends to do. >>> well the deadlock between greece and its eurozone creditors is weighing on investor se

maybe that could make the eurozone, the remaining eurozone stronger. mark: what about the ecb and quantitative easing? it could solve the structural problems. >> i don't think that it solves structural problems at all. they are structural and fiscal. the ecb printing money is not going to deal with those issues. that's another dimension of kicking the can down the road. mark: does this help them return to solvency? >> one dollar trillion is a large sum. the fact is i don't know if it does much for greece. it means a lot for our markets. when you suppress these interest rates like this you suppress interest rates worldwide. here is the u.s. paying a country at a 2% yield? the highest in the g7, the strongest currency? banks and the other part of the world and in the u.s. are going to come to the equality. mark: you talked about those who wanted to audit the u.s. federal reserve and you said "perhaps they should start auditing the u.s. senate where the ratio to blustering to action confirms we are suffering a national political intelligence deficit of ala

relative to the eurozone. the negative deposit rate.ortant i do not think they are going to walk away. they will still be there selling swiss francs but not being held at 120 level. >> the danish krone, it is a big question and they say, no, the ecb said they have stopped selling government bonds now to stop it and flow of money into denmark. >> i think in the new world post snp, never say never. having said that, quite significant differences between the euro's was a euro danish. the major difference is that the danish krone is a property of the euro, they are following ecb policy. secondly you do not have to pressure on the danish krone on the swiss franc you do not have the quality or the market suggesting it may go at some point. the point in summary yes it is possible, but the less likely to move. >> before the smb, you was a is not possible but now everything is possible in light of the smb. >> that is the case. very few of us thought that. we were very shocked by the swiss national bank of because they made it was crucial. i thin

members of the eurozone have given athens until friday. e rescue deal would include further austerity measures. we have more on the tension. reporter: it is three weeks since the triumph and he has three days to avert disaster. he is given an ultimatum to follow the bailout or push greece over the edge. today, the prime minister was defiant. >> we want a solution, not a cl ash. our goal is a viable solution and we refuse to succumb to psychological blackmail. reporter: the fear is returning to the drachma. eurozone leaders particularly germany, insist the bailout is extended, or else. >> no one can take out a member of the eurozone. someone can be led to the exit simply because he will not have the necessary liquidity to pay the public sector. there is a series of negative scenarios that could follow if there is not an agreement struck by the end of this week. reporter: the key part of the greek position is the national mood. greece feels humiliated by the crisis and the proud nation feels that they have a government that is ready to stand

>> my only plan since the beginning is greece in the eurozone. i refuse to consider other solutions. >> those where the words of the eu economic commissioner. we will bring you that interview as german lawmakers get set to give their seal of approval to greece's bailout extension. >> corona under pressure. it rose less than analysts expected. >> breaking now, how big effect will be aircraft maker have on the military project? >> basf, the world's biggest chemical maker, facing corporate casualties in russia. welcome to "countdown." >> coming up, nigel garage speaks to bloomberg. we will tell you what he has been talking about -- immigration and the upcoming general election. >> 6:00 in london and we are getting breaking news from airbus. right now it gets two thirds of its sale from making airliners. 2014 sales came in at 60.7 billion euros, a touch ahead of the estimate. the dividend has come in at 1.20 euro per share. and estimates they are looking at a slight increase. they are proposing a riaseaise of 1 euro per share. they say they will live