we had wolfgang schaeuble saying a no vote could still leave greece eligible to remain in the euro. thomas: i think the reason it is going to be -- i think the reason why you here these messages come out is because the polls in greece are contradictory and they say two things. the first is that people support tsipras' hard-line in negotiations and want him to take it position. the other is they want to stay in the euro. those things do not make much sense together. people have held both positions despite the fact that they are contradictory. that is why you see european leaders try to frame this as an in or out of the euro because they know people will want to stay in the euro and tsipras this saying it is about getting a better deal or not because he knows they favor getting more concessions. which narrative wins will determine the outcome. stephanie: how important is the referendum this weekend? thomas: incredibly. if greece votes no it will be difficult for european leaders to give further concessions because it will -- they will not less us early -- they will not necessarily lea

i'm going to quote wolfgang schaeuble a 50/50 chance. i'm going to flip the coin right now. tom?atters. reading co heads. heads it will be here on monday. talking about greece. tom: there it is. vonnie: tom, we have to get to your agenda. tom: it has been quite a week for the nation. the president traveling to charleston. i loved the nuance in the "wall street journal," this idea of an ongoing morass. everybody has their own history on this, which is interesting. we come up with this whenever anybody's politics or cultures the presidents is a dark part of our history -- this'll be addressed. i have an offspring that went to school down there, and all she said to me was -- this church is special. vonnie: i will be watching france. one beheaded at two injures. multiple arrests have been made to it we knew one person was in custody. we will get to do -- we will continue to watch that. tom: greg was great on this about the cultural challenges and france paired thank you to tony crescenzi steve ricchiuto and for the terrific perspectives this morning. thanks to both of you. much more

there's work we have been covering, that merkel's differences with wolfgang schaeuble the finance ministerans: we are hearing the same. officials say the distance is clear. a tablet paper here has been pushing this, leading this charge. ultimately, angela merkel and mr. schaeuble share many ideas. it is a question of where the difference is on contagion. mr. schaeuble seems to think that contagion from a greek ex it, economic contagion, can be limited. there is a growing sense that merkel and her finance minister on a day-to-day detail are not on the same page francine: something we will keep an eye on . uefa president michel platini is holding a news conference and paris. as the bbc reports that a successor to sepp blatter could be chosen. let's get tomorrow with mark barton. what he is talking about is not fifa, it is 2016. mark: platini is speaking french, i'm sure you can understand what he's saying. he's said that today is not the time or place to talk about fifa . he has been at the center of the fifa discussion, the head of uefa touted as a potential successor to mr. blatter, who st

brendan: we are getting live headlines from wolfgang schaeuble the finance minister of germany.annot prepare without substantial proposals. greece says we have a new idea. everybody looks at it and there is nothing there. vonnie: define it -- tom: the finance minister of germany speaking. what i would point out is the headlines are beginning to reverse the feel-good markets. brendan: the greek papers last night actually had very specific proposals. raising value added tax, getting rid of early retirement. these are substantial, they do not seem to be reflected by what schaeuble and noonan are saying. tom: we will continue coverage with gideon rose. how about a better and bigger view about where markets are within the european experience. julian emanuel l with ubs. if you are paul donovan and others that are big thinkers about europe, how nervous are they about liquidity issues within europe? and when we look at china, global liquidity issues. julian: it has been holding the u.s. market back. the fed concentrates on it as well. we need to see some sort of positive revolution. tom

that is more the point as to whether or not wolfgang schaeuble will is there. francine: what happened to the markets? there is a deadline on june 5 friday. it is a deadline that could be extended. if i am a market participant, do i stay put, do i sell, do i buy euro? stephanie: it goes back to the difficult balance people -- we had a lot of volatility a few weeks ago and european markets. i think there is a nervousness. we think that the world is safe for some kind of greek mishap that we are not quite confident enough, especially when we have still some disappointing noises from global growth. we have not just the u.s. growth disappointment but other parts of the world as well. europe surprisingly resilient. we are hoping to see a change from last year with the second-quarter growth still remaining decent in europe despite a slowdown in other parts of the world. we have not quite seen that yet. there is a nervousness although we do not think greece by itself can cause a major problem or as much of a problem as it did a couple years ago, we are conscious that t

wolfgang schaeuble we understand maybe decided a couple of months ago if greece were to leave, so beat something that has an impact on the way germany is run or is it just political machinations? >> it could be. it is just a classic case of good cop, bad cop. the end event is if greece is to avoid a default and avoid a grexit then there has to be some sort of compromise between credit others on the greek side. by exactly how much is unclear. francine: we're just getting the euro area g.d.p. figures. they are a little bit early for once. the economy grew if the previous year. household consumption up 0.5%. fixed investment rises for the euro area in the first quarter again, 0.8%. overall quarter-on-quarter, it is exactly line with what economists were forecasting. >> that sounds like a pretty decent set of numbers. we're looking at two things potentially pushing economy forward of the remainder of the year and one is the weakness of the euro which we think is coming pettive. and also what we're looking at within the money spli numbers is some strength engine credit growth particularly

the most notable rhetoric came from the german finance minister wolfgang schaeuble who set rather thanprogress, the greeks have moved backwards. still they finished the session higher. three companies a complex than .1% of the broader stoxx 600. greece accounts for less than 2% of the euro area economy. if you needed evidence greece does matter to europe, the euro moving in union by the most since july 2011. want to show you the rebate moving stocks in europe today, h&m the second biggest clothing retailer. second-quarter profit estimates. the u.k. oil company up by 4% today. that is because pneumonia -- nomura holdings recommended buying the stock. on track for the best we can five years. by 1.8%.x down swedish newspaper jargon industries dated the chief executive plans to leave the company. electrolux said he had not resigned. i wanted to finish with the athens top market, despite the ink of progress among talks athens in the emergency summit, the index finished the session .1% higher. it is up by 14% over the week. the saga continues as the finance ministers meeting again saturday m

one of the reason you see wolfgang schaeuble is the politics and you wonder what the implications are the likes of greece and spain. will they win the argument over austerity? alberto gallo: ecb has done a lot probably as much as they can do. now it is about politicians. prime minister's including angela merkel what a solution. it is becoming harder and harder. we are getting closer to the point of no return. this is the game of two cars going in opposite direction. jonathan: the interesting part is we talk about spanish yields is the political equation to think about at the end of the year. another spanish election. the euro is going higher on greece and they want to send a message to podemos. the eurogroup president, sc going to remain dusselbloem -- is it going to remain draws a blue -- dusselbloem> alberto gallo: dusselbloem has played a hard role. he has done a good job. we will see what happens and the next few weeks. greece is the same as duesseldorf or malan. -- milan. a potential exit is a dangerous situation for the euro. like draghi said, enter unchartered territory. the in

i suspect we will be talking a little bit about the relationship between angela merkel and wolfgang schaeublend the parliament as well. he will be joining us a little later on bloomberg television. let's go to little further south. the russian president vladimir putin heading to italy today where he will meet with his italian counterpart. asked -- sanctions against russia are expected to be extended next few days. let's find out where we sit on this. italy is a really interesting case because putin has friends there. he is very close with mr. berlusconi. j there is quite a strong undercurrent -- there is quite a strong undercurrent of socialism running to the body politic in italy. >> i think it is unlikely that the russian president could convince the italians to go against everyone else. but maybe this is about setting the ground for the future. it is extraordinary how much ground the russian president has covered in just a year. when you're ago he was in milan and that's when i asked him what he thinks about the allegations that he is violating the minsk agreement and he shrugged it off an

we had some good reporting out of our berlin bureau saying basically between wolfgang schaeuble and angelance minister, she is the chancellor, she may have a caucus within her own party, the cdu, to negotiate a little more with greece. that is not what schaeuble wants. tom: he is a traditionalist. brendan: he is not looking at this as a political question. he is looking at it as economics and finance. can germany survive economically so he says yes, so the politics do not really matter. angela merkel is a disciple of helmut kohl -- tom: i liked your picture of merkel and the president with julie andrews. brendan: yes, "the hills were alive" yesterday. vonnie: on my agenda after the close today after 4:00 p.m., you may see china shares included. tom: this is to put the shanghai market into the index. vonnie: shares listed in hong kong already are in there as are some shares trading in the u.s. that are chinese companies, but it's china, is really interesting because there is $1 trillion worth of money to track emerging market index. tom: i am looking at jobs. this hsbc thing is a big deal.