wolfgang schaub will not getting much away.you are not going to talk -- i know you are going to follow that. yields in greece go north and in germany. forget what was happening with the dax earlier, this is right. that countdown seemingly t o zero. yields on german debt below zero. remarkable moves. keeping an eye. the german nine year is about to join the negative yield club. in the fx market we go much further south to the southern hemisphere. australia with a monster jobs report. the australian dollar in focus, euro-dollar near session was low. goldman stocks topped $200 and the first time in 2008. guy: it seems the germans are not in the mood to blink/ let's get more from bloomberg's interview. german finance minister wolfgang schaub will says no one expects a solution from the meeting in riga next week. >> the program has been extended twice. if greece wants to avail itself the solution must be found by june 30. >> your deadline is june 30? >> that is the deadline of the program. brendan: would you want to play poker with

what can we take away from wolfgang and what he has to say. nothing has really changed. he is not offering concessions and greece is not blinking. >> you have seen the government all but destroyed the efforts and the improvements the previous government had started. here is the important thing about the interview, he is publicly contradicting the idea advocated by the finance minister that there can be a deal. he says it is a non-starter and there is more work to do. it brings us back to looking at the counter and when the big payments have to come. they are rolling out one billion in t-bills and we have a meeting with important actions happening. they will have to pay salary and there are big payments that will come due. we have is him publicly saying opposite things. the important thing is that they will not get it done. you want to see some cash and he needs to watch to see how markets react. there is a piece of optimism and the advisor close to the prime minister has the possibility of a referendum in greece. that kind of vote could allow him to establish some distan

wolfgang: that is the deadline of the program.etty: greece is running out of money and there is no end in sight. ecb policymakers in washington today, where of their limits. mario draghi repeated a call for reform measures. -- aware of their limits. the imf singled out the eurozone in an assessment of growth potential across the world. those are your top stories this morning. let's get back to our conversation with steve schwarzman. erik schatzker joining me as well. we did not get a lot to talk about your real estate portion. you entered this megadeal with ge. given that there is always a cycle here with property, what can we gleam on your outlook? steve: you can be a buyer and a seller. at the same time, and do well doing both. the reason for that is when we buy properties, we have a reason for buying them. we are not buying a market. we have a saying john gray who runs our business popularized "by it, fix it, sell it." we buy them, do something to that property and write put in bees, new facilities. -- in lobbies new facilities

wolfgang schaeuble: that is the deadline of the program. brendan: no end in sight to the standoff with creditors. viewers around the world cannot get enough netflix. shows such as "house of cards" has helped attract 62 million viewers. subscribers rose more than expected and sales were up 24%. reed hastings says the company is on a roll. reed hastings: when the internet and television is catching on and we are leading relative to competitors, we have got competitive's all around the world in each market. we are feeling very bullish on the long-term brendan: in all of these markets. brendan: shares of netflix up 12% in the premarket to an all-time high. hastings is expected to recommend that the board split netflix stock. the swimmer who has won more olympic gold medals than anyone else is back. michael phelps will try to qualify for next year's olympics in rio de janeiro. he will be 31, relatively old for a world-class swimmer. earlier this month he came off a suspension after his second arrest for driving under the influence. it is a or he

that is linked to competitiveness. >> the german finance minister wolfgang shoretel -- wolfgang schaeublebout the challenges he sees faced by european. >> michael spencer saying he would move his firm abroad if ed miliband wins next month's election. >> their circumstances i would leave the country regrettably. it is kind of -- it is time to be contemplative. >> the labor responded and released the following -- it is hardly surprising someone who was until recently the treasure of the conservative party the is backing the tories in an election campaign. spencer spoke at a bloomberg politics debate exploring how the outcome of the u.k. election impact london's position as a global financial hub. the panel included a leading voices from the city. was hosted by our very own guy johnson. stay with bloomberg for the full debate. it is at 11:00 u.k. time. >> let's take a look at our top choices from bloomberg. where are you been putting your money? >> sadly not here. really interesting. the story is about billionaires and family offices. the company set up to manage her money and manage your li

over the weekend, we had pieckh's cousin, wolfgang porsche.came out in firm support of martin winterkorn. he said, dr. piech represents his private opinion. content and faxed have not been coordinated with the family. you look at those offspring of ferdinand porsche. they control about five seats on the board. two of them are with the piech line -- three of them, excuse me. there are a total of 20 seats on that board. 10 of them are by the works council. another two are by the lower saxony state. you add that up, you get about 14 votes for martin winterkorn. he appears to have enough backing to go on. the criticism is, why hasn't he done more to promote sales in the u.s.? winterkorn himself has put in the namesake brand of volkswagen a big cost-cutting structure. they want to see profitability go from 2.5% to 6% by 2018. sales per, right around 10 million. one thing to look at, the stock up 37% this year, although it is down on this news. guy: thank you very much, hans nichols joining us from berlin. francine: coming up, an exclusive at the ho

wolfgang: that is exactly the issue.they got to power they campaigned to stand up to the creditors and to be tough on the creditors. obviously that did not work. the creditors have held firm. the party will now have to decide whether they will accept the terms of the creditors or not. they promised not to do it. he will have to decide if they will accept default and an exit from the eurozone or are they actually going to make a compromise and accept some of their reforms in exchange for more money? my guess is there will be another month or two a very strong and very hard negotiations. my guess is they will accept the terms. this is by no means assured because the party is split internally. there are people in the party who do not want to make a compromise at all. alix: thank you for joining us. he is the president of the president of euro intelligence joining us from london. -- he is the president of euro intelligence joining us from london. regulators are accusing -- it went up $1 trillion from stocks in minutes. why d

we had the german finance minister wolfgang schaeuble saying nobody is expecting a solution to greek france 24 talks -- greek debt talks. genie: let's come back to france. it appears that the rich are getting richer? >> the money the french government has raised from its wealth tax has raised by more than .5 billion euros. this affects people his assets are worth more than 1.3 million euros. does this mean people are getting richer or more are telling the tax authorities about their assets? >> here's one of friends last business tax -- here's one of france's busiest tax offices. it handles the wealth tax, 300,000 pay it. new cases are arriving. >> this file we received is important. >> the wealth tax is generating more money. in 2013, the rich pay 4.4 billion euros. they are projected to pay 5.6 billion this year. the criteria has not changed. all those who own assets worth more than 1.3 million euros have to pay. more people have declared their fortune. perhaps due to the recent -- 14 billion euros have been transported to france often from switzerland. the richest taxpayers live in

report performed open suspicion on fulsome they have a performance are a couple of members from the wolfgang it was pretty busy but there wasn't any issues i observed got a chance to talk to melissa a neighbor clanld about a street event with temporary occupancy with the permits and i talked to melissa about even though i went on the website for the department had hands those permits they don't require any public notice to so i told melissa you should still imagination to the neighborhoods that will cut down on trying to involve my agency she'll be doing that i performed a sound test and scoreboard and kitchen they were here trying to get a permit they had issues with the sound as far as the piano and acoustic guitar they should be fine i set a level and so that should be fine i don't expect any further problems one issue at the pine diner i observed someone getting knocked out so i called the management and talked to management about the issue i wasn't sure if they had security he said they employ security i tell him they need to maybe put a fire under their security to make sure they can p

. >> so it's true there are an unbelievable number of people from the city side marge go and wolfgang are partners not only here by on many projects are huk huge humane partners from the mayor's office of housing i've got a long list ann and olsen lee and georgia martin and others from the urban housing and i'm sure there are many others thank you for everything you did to make that possible (clapping) so we're officially 10 percent through the program in case you keep a chart at home the 09 great partner for us is the hud as long as hud for many, many years they've been the key partner for producing housing particularly for seniors in some ways a sad waterfront momentum this is the last hud 202 projects in california for whatever reason they've chopped did funding that provided the subsidies for this beautiful spot so hopefully that will change some day in not we're here to celebrate and we couldn't have done it without you from the team from hud to say more is larry ferguson the production chief our kids go to state and federal school together and a champion of housing. >> (clapping

it was wolfgang who lined up against is cousin and there is obviously a lot of bad blood.hat is going to happen with the family remains an open question. jonathan ferro: thank you very much for joining us. a little bit of confusion over the last couple of weeks who leads the company and plenty of confusion over who'll the did this country. let's show you the show down. where do we stand? joining me is anna edwards. once again a weekend filled with the snp and the labor. >> good morning. it seems like he is ruling out any sort of deal between labor and the smp. he says any labor budget would be written by labor. now, standing as a candidate for them in westminster. he says, if there was a speech it would be written by lieber -- labor. what is the endgame here? they talk about the policy to benefit the united kingdom. at the same time, they are not able to rearrange that declaration and he made last year that it was once in a lifetime. they have not ruled out putting another referendum in the manifesto. it seems that the smp -- snp is a live issue. jonathan ferro: david came

with gang -- wolfgang schaeuble says he cannot put greek interest above global stability area >> we will not take the risk to endanger the stability of the global economy. jon: meanwhile, varoufakis took a different view. >> we have the right to be heard. we have the right to challenge the logic. ? who -- jon: who wants to challenge him? would christine lagarde support a payment? >> we have never had an advanced economy asking for a delayed payment. i would not support it. ? -- jon: i would say that is a no. everyone looking out for their own interest. the problem is they seem to conflict. that is get out to athens. because krista larson joins us. are we getting any closer to an agreement between greece and creditors? if i am listening to the noise coming out of washington, it does not look like either side is getting closer. >> greases prime minister desk greece's prime minister says that even though there are points of disagreement the prevailing view among professionals -- among officials is we are moving a way from a deal rather than closer. let me give you a couple of examples. cred

wolfgang schÄuble has for decades been a defender of european integration.llowing his opening remarks we will be joined by the director. for those of you who to eat hashtag euro. we look forward to hearing your remarks and thank you for being with with us. there will be a conversation here at a conversation here at the table and we will open that up as long as time allows. thank you very much. >> thank you very much for the introduction and for inviting me i am very honored. i can only address a few of the problems you just mentioned because i am only the finance minister. it was quite successful after all. you might think that our decision-making processes are complicated and you might think that your policies will lead to little or no growth. i can simply tell you that once the economy is growing again and every country is expected to grow but i want to raise a more fundamental question. how can advanced economies achieve growth? for the past quarter-century there was a credit boom in 1997 and after that it came back in 2007. at the beginning of each of th

wolfgang schÄuble has for decades been a defender of european integration.llowing his opening remarks we will be joined by the director. for those of you who to eat hashtag euro.

piech's cousin wolfgang porsche, also supported mr. winterkorn. mr. up isolated on the board. his wife also stepped down from her position on the supervisory board over the weekend. guy: let's talk about strategy. his strategy has always been to build the empire. talk about what he's achieved during his tenure. chad: he has created a 12-brand but he met. most important is what he's done in the luxury segment. he was instrumental in the purchase of porsche. he also helped build audi into the bahia it is today -- the dehembehemoth it is today. audi is fighting with bmw and mercedes for the top spot. mr. piech ran audi before he was the volkswagen ceo. he is the person that built this company. he also purchased two large truck makers scania and man. he was also behind the push that volkswagen made into china. they have now about a dozen factories in china. francine: where do we go from here? chad: that is the real question francine. mr. piech still has power and influence. his family controls volkswagen through the holding company they have and he sits o

jonathan: jurong dice alone, wolfgang schaeuble, all coming out and saying deal, forget a deal.dy is expecting a deal. that means you should be expecting a deal. they managed to pull the story right out of the bottom of the barrel every time. i don't think you can completely rule it out. if you've got guys like that saying those things it is hard to imagine that you are going to get something significant. jonathan: for the tech industry, the nasdaq is playing highly in your show as well. guy: i guess the question we are asking is, is this a single sell? my sense, having been a recorder -- a reporter when i covered the dotocom boom, looks like a different place now. you have facebook talking about monetizing stuff. that really wasn't there. you were trying to finagle all kinds of fancy mess tricks to justify valuations. this time, different story. tech almost is we almost don't have a tech industry anymore. we have industry. it encapsulates everything. it reaches into everything and touches everything. very different story right now. i'm not sure there's much to compare it to. jo

we could write -- curate perfect days coming from people such as wolfgang puck giving you think theyove to do in cities when they travel. you give people inside on a great way to spend time in san francisco. brad: one of the reasons i asked you to guest host today's show is there is a much consolidation and competition in online travel right now. expedia's acquisition of orbits and travelocity in january, the rise in the priceline group, google and amazon getting into trouble, how much room is therefore startups right now? ruzwana: i think in our space, which is activities, it is actually local and travel. it's about a hundred billion dollars global market. what you find is because you are working with small businesses that are right segmented, you really have not had a human come out and be able to do anything great in this space. first tourists, 70% don't even have online booking. it's like the restaurant space before opentable came along. brad: talk about acquisitions that trend and why you are well-positioned with peek ruzwana: 50 years ago, we were all told that buying a car or

at the beginning, wolfgang schaeuble the german finance minister, he said what is everyone doing in riga? he encouraged us to go see the city. we had a blowup inside the meeting and we have to wait for what the market reaction is going to be. tom: varoufakis said to take hammering from frustrated eu ministers, we have seen this headline. brendan: this does seem to be of a different quality. i have a long-running bet with michael here that yanis varoufakis will still be finance minister of greece this summer michael believes he will not. who will win the bet? hans: if you are betting in dollars, you should that in -- bet in euros or drachmas. varoufakis if his base support is in the syriza party that is a better question for our athens reporter. if his ability to do his job is contingent on the trust and likability is contingent on the fellow euro finance ministers, you will lose. we are trying to figure out what is going on inside the room and it is full of platitudes. usual diplo-speak. the fact that people are using "irresponsible, gambler amateur," we have not gotten comment from mr.

yesterday, wolfgang schaeuble told bloomberg further concessions to greece will not happen.there be a debt deal next week? guy: we are getting down to the critical moments in terms of whether greece's fiscal problems are about illiquidity or insolvency. at the end of the day, lending a country more money this problem is over and is not a winning solution. the option -- lending a country more money whose problem is overindebtedness is not a winning solution. mark: we are hearing the news that greek bond yields and peripheral bond yields are getting dragged down. do investors believe greece will not be able to reach a deal? guy: with the degree of pricing and the negative built in, there is a likelihood that at some point down the road there is another default. where that point is does not necessarily matter so much for the pricing of a 10 year bond between next week and three months from now. functionally, there is no way the greek economy can survive with this level of indebtedness. mark: the selloff is reaching corporate bonds. bank selloffs are reaching records. could thos

down hollywood boulevard, the street is shut down from there a free concert from david lee roth, wolfgang van halen. for the first time. i found this hard to believe. but we checked and it is true. the first time they performed together on television ever. van halen and you're all invited. not just to watch it on tv. if you want to see van halen live, jkltickets.com and we'll do our very best to accommodate you. what is your favorite van halen song? >> guillermo: i don't have one. >> jimmy: you don't have one? >> guillermo: no. >> jimmy: not even one? >> guillermo: no, no. >> jimmy: will you be at the concert? >> guillermo: yeah, i'll be at the concert. >> jimmy: well, good, good that you'll be there. i'll tell them you're a big fan. think about it tonight and tomorrow i'll ask you again. >> guillermo: okay, okay. >> jimmy: okay. our first guest tonight is one of the most beloved actors in the history of american television, you know him well as that guy from that show with six young people and a coffee shop. he plays oscar madison in an update of "the odd couple" thursday nights, 8:30 on

people are anticipating, and we've had wolfgang kester, an expert with us this week saying watch out, the companies don't learn from the mistakes of the inability to hedge. so that leads me to robert haskell. we've not entrenched ourselves into earnings, that starts next week. why the rally today? it's pretty significant. >> i think what you're seeing with the rally today is based off of lot of what's happening with ge. general electric coming out of financial business, pushing ba into more of its bread and butter of industrials, and that's giving it a p/e expansion, getting away from the financials and you're seeing this as an overall boost to the economy and the market, and the possibility of other companies coming out with larger share buybacks as well and that's circulating the street right now. liz: as a dow component, the markets fasten themselves onto the ge and used it as a buoy, john buckingham, you own general electric, how long have you owned it, and do you see it beyond the stock punch today? >> own it about a year, recommended it in the speculator newsletter a year ago. i

. >> hey, david, i got that order for wolfgang's. i need 40 short loins as soon as possible.orey, i need three boxes of our boneless legs of lamb. >> who's this guy? >> that's frank, our general manager. >> come on, we gotta get these trucks out of here. let's go. >> he seems to know what he's doing. >> yes, he does. >> frank. >> frank, i'm marcus. >> hey, marcus, how you doing? >> both: nice to meet you. >> how long have you been here? >> five years. >> do you love it? >> yeah, it's good business. you know, everybody's gotta eat. [chuckles] >> uh-huh. do you mind giving me kind of-- we could walk through, give me kind of a rundown of what goes on here. >> well, this is our production room. we fabricate orders. >> how do you measure the efficiency? >> uh, i've never really analyzed it, never thought about it. i just look and see what i can get done in a given day. >> and so how many pounds do we generate a day? >> um-- >> do you know that number? >> no, i don't. >> so what other things could you guys do here to generate some money? >> well, we started a new item. we made the

. >> [ german accent ] wolfgang, go you to your dum-dum. >> [ german accent ] what's a dum-dum?n kate smith. >> mr. garner, i admire you very much, and i -- >> you wouldn't dare. [ bell rings ] >> announcer: it was so controversial, we couldn't resist tuning in. so wild and fun, we couldn't turn it off. so playful and sexy, we fell in love with... >> "...laugh-in!" >> announcer: now 45 years after the first broadcast, you can own the amazing "laugh-in producer's collectors edition" digitally restored and remastered and available for the very first time on dvd and direct download. >> every christmas, i waited for you. >> announcer: call now and own the "laugh-in producer's collectors edition" and receive three dvd compilations of the best "laugh-in" shows ever or visit getlaughin.com for direct download. >> mucho interesante. >> announcer: you'll get over 180 minutes of classic "laugh-in" digitally restored and remastered, all for only $29.95. >> ooh-cha-cha! >> now there goes a gay caballero. >> hi, when we came out with "the best of laugh-in" version number one, it was so succe

bloomberg surveillance interviewed wolfgang schaeuble yesterday. >> greece remains part of europe inny case. whatever happens in greece, greece remains part of europe the european union. if greece stays in the eurozone, it must create the conditions for it. whether greece has the money to meet its obligations is primarily decision of the greek government. if greece wants support, we will give that support but of course within the framework of what we agreed. alix: is germany really that inflexible? erik: on this issue he is right. the most important thing he said here is that they will stay in the eu. if you look at the treaty if they were to leave the eurozone they would leave the eu. you have to do some interesting gymnastics to keep them in the european union. he says that you can leave and so get your funds that come from brussels every year. he said that we won't be angry at you. he is also right to say, it lies with the greeks. if you take what the greek government says they want to do and put it in any other country, you will not succeed. alix: you work for the imf, you go to

gravitated so what weent ceo, have now -- the guy who really led the company stepping down, and wolfgangsche, chairman of the holding company that controls the voting shares coming out with a statement -- "we deeply regret these developments of the last few days. we thank him for his decades of extraordinary and highly successful service." angie: it has been extraordinary. zeb: certainly. youlook at the portfolio, look at this list, they are really competitors and contenders in their own segment. you look at the valuation, 15 times. angie: who has taken over? zeb: a deputy chairman. they will be having a meeting. angie: thank you so much. family drama over. a search for survivors of stepping up in >> it is 7:30 a.m. in hong kong. the sun is casting a direct path to us here in the central district. we are 30 minutes away from trading in australia, japan, and south korea. the first trading day of the week. you are watching "first up." ♪ >> thousands are homeless after the earthquake in nepal after an aftershock hindered rescue efforts. >> stand up to china. calls to take a proper stance on

caroline: and wolfgang porsche has thrown his support behind the volkswagen chief executive. after he was publicly criticized by porsche's cousin and a vw chairman. he told their spiegel -- der s piegel that he was keeping distant. he said they were his private opinions and that fax had not been coordinated with the establishment. greece continues to wrangle with the euro area creditors over the terms that were released. officials hope to do a deal ahead of the eurogroup meeting and greece is due to roll over 1.4 billion euros in treasury bills. mark: the dollar broke its three run losing run. mark: let's talk fx markets. the head of the effects strategy at the canadian imperial bank of commerce. the bloomberg dollar index rose. it is below the all-time high. is the dollar trajectory up once again? guest: we've seen a lot of negative economic surprises and clearly that payroll miss on good friday was an idea of that. we now getting back to the scenario. where getting back to enter a assumption that the u.s. economy is performing better as we look at q2 rather than q1. in look

as they head into the meetings, german finance minister wolfgang schaeuble and jeroen dijsselbloem expressedkepticism that a deal would be done today. hans nichols it seems that the bar is set very low for this meeting. hans: the bar is just to get a status report at this point. you mentioned frustration. there are really two pockets of frustration. one is with mr. tsipras. mr. tsipras may be trying to short-circuit what happened here in riga and cut a deal on the sidelines with angela merkel. in that meeting yesterday, he asked for a short-term deal. that is one bit of frustration. the other frustration is that greece simply hasn't shown enough details. they haven't done enough technical work. as mr. muscovy c said, time is wasting. >> the overall issue is about the regime the present program to deliver reforms we can change. we need jobs and growth in greece. on the other hand, we need to think about further arrangements which could come afterwards. this is why it must be a coherent and strong exchange of views leading to a maturation in the process. hans: mr. dijsselbloem said that it was

you are interviewing wolfgang schaeuble the german finance minister. jason: it is driven largely by the ecb. it's, you have a situation where you have no choice but to buy riskier assets because you are getting 14 basis points on german bunds. there are good things happening in europe but unfortunately they are happening for the wrong reasons. largely it is because of a weak currency and weaker oil prices not due to structural reforms that would pave the way for capital formation and long-term structural changes. olivia: bring it back to google. this is a big deal. for several years there have been accusations but this is the first time they have been formally charged. the cover story of "financial times." the power to leave the times of up to 10%. brendan: in the past what they have levied is less. tom: more discussion on this. all sorts of stuff going on. don't forget brendan's interview with the finance minister of germany. olivia: we will turn to asia. . china confronts slumping growth the economy grew at 7% in the first quarter. the slowest rate s

alix: bloomberg also spoke to german finance minister wolfgang schaeuble.hor brendan greeley asked where deal would be. minister schaeuble: the program has been extended twice. if greece wants to remain in the program, a solution must be found by june 30. that is the deadline of the program. alix: oil prices surging to its highest since 2013. the the shale boom is easing. at the cusp is the lost of oil jobs. my next guest has quite a bit invested in the energy industry pr can, -- pierre arcand, quÉbec's energy minister. thank you for being here. what does this mean for quÉbec? minister arcand: we are not a big oil producer, so for quÉbec it is not as radically bad. first of all, it means that we can export more because the canadian dollar is less than the u.s. dollar right now. for us, it is positive. it is positive also because, i would say it is good to have, i would say more exports for consumers. it means more money in their pocket as well. for the overall canadian economy, it depends on where you are. of course, for alberta and saskatchewan it is more

it is very curious that he didn't first go to wolfgang porsche or the other members of the board to sayhis is where i'm going. i need your support. >> it's interesting. he has pulled that stunt before hasn't he? >> yes. absolutely. back in 2006 with the previous vw ceo, he came out and said that his future is very open. a few months after that winterkorn was taking over. who knows, it could go that same way but given the make of the supervisory board, we have lower sax onny and the labor workers have the mamt of the suits. we have more information. >> it's all playing out in the media. thank you so much for that nancy. >>> bg group, it gets another upgrade as analysts as they continue to digest the megamerger with shell. we drill down into the tie-up after the break. >>> good morning, everyone. let's have a look at oil prices. a fairly bullish start to the trading day for the brent and wti. it seems though traders covering their short positions after brent rose 5.3% last week. >>> obama administration is planning to impose a major new regulation on off shore oil and gas drilling. "the n

. >> wolfgang is not backing down. >> i would never change my job with him. i have a much better position. much more comfortable. but as long as they are telling the problem is today i have to move in ways that greek economy is becoming a little bit more effect effective. the greek economy can deliver what greek people want. >> this comes as the head of the imf revealed she refused a request to he delay a loan repayment. joining us is mark farber. thank you for joining us this morning. >> it's my pleasure. thank you. >> the chances of a grexit is that above 50%? >> that depends from which side you look at it. i think it's not so much a economic issue as political issue. europe and in particular nato and the u.s. do not want greece to leave the eu because if they leave the eu there's other people going to knock on greece door like the russians the chinese maybe, and so it's a geo political game of chessing being paid. greece is bankrupt. we better face the reality and not kick the can down the road. greece should default. >> but if they default then they will

. >> wolfgang ahead of this meeting, is that helpful to anyone or is that game playing or do you think fundamentally the germans are very far from any sort of caving to their demands. >> i don't think the germans will cave at all. that being said i don't think they're that far away from a compromise they can live with. to give them the short-term money. we are nowhere close to a long-term settlement of what is wrong in greece. >> the ecb continues to lift it's emergency liquidity to greece. many might say that's a positive to the u.s. banks but that's not the optimal situation is it? we don't want them relying on the ela completely. >> it can only be a temporary lifeline. the only reason it's needed is there's destructive forces going on. so it's not positive at all. >> let's switch focus to europe more generally. we had the ecb growth forecast increased a little bit. yesterday we had draghi once again in upbeat and self-congratulatory tone. is that justified? >> what the ecb has done if you look at the indicators and data and lending markets it's positive. imagine getting to 17 1.8, w

the banks -- >> wolfgang schroyble said the same thing. >> greece is like that family member, hey, can this week? i'm short this week. it's a hopeless cause. >> the banks and the ecb is prepared for this. it's just a question of whether the chancellor of germany wants to pull the plug, angela america americaamerica america -- angela merkel. >> i'd like to probe more on that. i've heard concerns about excess liquidity. >> we're talking about lack of liquidity and corporate bond trading. >> those markets are fundamentally on a price and yield basis in great shape. one thing lew got wrong, it is the treasury department that has the statutory play over the currency. >> exactly. >> it is not -- it is not the federal reserve. >> i thought, larry, i agree with you. i thought that answer surprised me when i said what could you do about it? could you do anything? he said i'll leave monetary policy in the hands of the central bankers which was an interesting nod. >> intervention is their mechanism, right? >> he's untutored in this area. he has no long experience in this area. one thing i want to

. >> we've seen people like wolfgang puck who have gone to airports and opened up.tions, i can see it. what kind of stuff to you serve in there? >> well we try to do everything -- we're probably the only restaurant that i know of in a major airport that preps everything on site. so fresh food doing things in a chef way without compromise. we had to break a few rules along the way, but i think that really has helped improved the quality. >> is it sit down? >> a sitdown place. >> no take-out? >> there's to go. there's that element to it. i think when you're sitting there, you don't feel like you're in an airport restaurant for a few minutes. that's what we were trying to achieve. we wanted to elevate it and make it feel like you weren't eating what you would think of as airport food. >> i think about what i pay for bad airport food. >> extremely profitable. it's also a good test. any time you can retest yourself in a different market it's a good thing. >> because you can charge more because the rent is low or because there's just so much foot traffic? >> there's so mu