let's talk about the greek finance minister, yanis varoufakis.nd his reasoning about what he is doing. >> according to him, it is simple and illogical for yanis varoufakis to excel at a deal, a program his party was elected to repeal, it is simply a nonstarter. he said they went backwards last night and not forwards. he said. the last week's meeting, they had a few setbacks and then they made progress. he held out the prospect for additional talks is that he is willing to negotiate. >> we have been saying steadfastly for the beginning we want an honorable settlement. we want to wedge together these principles, the principles of the program have to be respected and the government that challenges the logical problem and find common ground between the two. that is what we said from the beginning. it is not enough because it's the only option we have. it is plan a and we have no plan b. >> by brussels standards, it was a short meeting and a dramatic one. earlier, yanis varoufakis claiming that he was offered a plan he was prepared to sign on the spot

yanis varoufakis: i hope it is positive. reflect the positive attitude of everyone around the table. i was impressed by the openness of the conversation, the understanding. there were disagreements but they were civilized. the way they were expressed it was clear to me and my colleagues that the intention of everyone around the table was to find common ground. that is greatly encouraging. hans: any closer to issuing another 8 billion in t bills. yanis varoufakis: don't ask me it is late. hans: this is a serious question, will you have the ability to find your government? yanis varoufakis: allow me not to enter into public finance in detail. hans: i took a look to see whether or not yanis varoufakis was right on market reaction. look at athens stocks, they are up slightly. we do have some negative news out of athens. unemployment rate came in at 25.8%. the youth number came in over 50%. one quick note on the back and forth. they did think they had in agreement and it broke down on the language of the bailout program. was it g

yanis varoufakis the greek finance spoke friday of constructive ambiguity.nt they had drafted was an example of constructive ambiguity. and judy could work in his favor here. the problem with ambiguity as that it requires interpretation. what this is interpretation of ambiguity? those are open questions. we will get the details of this proposal, we hope, by the end of the day. i'm going to leave it with you there because there is much more to come from athens. >> and you will be on the ground giving us the breaking news about the day. erik schatzker, there from athens. that is it more "the pulse." >> "surveillance" is next with tom keene and his team. ♪ >> rebels attack. kiev struggles to maintain order. greece against "tough negotiation" that will send a list of measures to brussels today. taking the child to disneyland. it will bankrupt you. let me save you therapy and "let it go." this is "the pulse." it is monday, february 23, i am tom keene. joining me, olivia sterns and brendan greeley. let's get to the top headlines this monday morning. >> or fighting

greek finance minister yanis varoufakis has a meeting today with one of greece's biggest critics germany. more reaction from athens. since the decision was announced yesterday, greece has said it will not be blackmailed. tell us of your more about reaction from athens. >> immediately, the greek government spokesman came out and said this is purely political pressure in the midst of a very important negotiation with other european countries. greece will resort to the emergency liquidity assistance mechanism, which will be held from the bank of greece. it will be at a higher interest rate. the finance minister, back when he was an economics professor said in december, warned the ecb would proceed to such a move. he called it an arbitrary and dictatorial move. that is the initial reaction we are getting. also there was that morning from varou -- warning from varoufakis himself. >> it seems as if the ecb has dashed some of the hope. >> indeed. they are standing their ground. greeks with this new government, have found a new sense of pride. they are restoring their eroded dignity from five ye

brendan: no, yanis varoufakis was very outspoken.erviewed him, you interviewed him because he has a way of giving interesting quotes. olivia: i am sorry, brendan, you will have to cut your hair -- he self identifies as a libertarian marxist, true or false? true. tom: but he works for the establishment. he worked for the george washington family of greece. josh: exactly, he was working in previous administration for a number of years. brendan: he actually tried to start a phd program in economics at the university of athens. he had to go to ut because he lost funding for that program. his whole point was -- models are not sufficient to understand the world. you have to look at economic history. that is his of session, economic history matters. josh: he is a dissident policymaker. before he was an advisor -- olivia: i definitely think i would like to grab a scotch with him. he looks like he is a fun guy to drink with. i do not think mario draghi feels that way. do not forget that cyprus remember, he recently went to a world war ii site

one of george osborne, the other of yanis varoufakis.here. >> the given two that, i will go for the suit. seems more relaxed, reliable. someone you -- people wouldn't have a problem going to with problems and stuff. not saying this guy wouldn't because he looks quite happy. >> approachable. >> but this guy seem more approachable because he seems like a normal person. >> reporter: the prime minister doesn't seem to mind. he too has ditched his tie. reportedly vowing not to wear one until greece's debt repayment is renegotiated. another prom nice startling fashion. whether you think yanis varoufakis is a man of the people a man on a mission, or a man on a budget he's a man of many titles with the fate of greece in his hands. isa suarez, cnn, london. >> certainly a man with a very big debt. >> you're right about that. he is asking for money. look at the way i'm dressed. help out. >> i need it. >>> thanks for joining us. i'm church church. >> i'm errol barnett. another hour of the biggest stories after this break. if you take multiple medica

the new greek finance minister yanis vera fact is that his -- yanis varoufakis, met his french counterpart. he is eyeing a deal by may on a bailout program. varoufakis has ruled out taking on any more debt. >> the last five years as i said, we have resembled drug addicts, craving the next dose. what this government is all about is ending the addiction. >> all eyes her on ger -- all eyes are on whether germany will be a stop on the tour. varoufakis said he expects to meet with the german finance minister, although nothing is officially been scheduled. >> i received a very gracious letter congratulating me on our election, stating that he was looking forward to meeting with me and the areas of opportunity and i responded in precisely the same way. one side or the other is going to make the first move. >> president obama said there was no used in squeezing a country and called on europe to agree on a strategy. >> back here in france, the sex trial dominique strauss-kahn is getting underway. the former imf chief has been charged with involvement in a prostitution ring operating out of french l

the greek finance yanis varoufakis minister -- the greek finance minister yanis varoufakis will addressent. greece topping the agenda istanbul, where the g-20 finance ministers are concluding a two day meeting. yesterday they named greece as their top concern. u.k. chancellor of the exchequer george osborne told bloomberg he sees a growing danger of a bad outcome. he spoke to bloomberg. chancellor osborne: the risks of this standoff between the eurozone and greece is growing each day. the risks of a miscalculation or misstep leading to a bad outcome is growing. here at the g-20 we are urging all parties in this dispute to try and find common solutions. we are stepping up preparations for whatever the outcome may be. we have to make sure the british people are protected from whatever develops in this crisis. the greek exit from the euro would be difficult for the world economy and potentially damaging for the european economy. we have to be prepared and make sure we choose a path of competence and stability over potentially chaotic and disorderly exit. >>. percussions for the u.k. econom

tho two wordss were not enough for yanis varoufakis. e talks to star in a moment.separate finance meaning taking place here in brussels. lots of opportunity to start talking if people do indeed want to talk. . brendan: hans, that is the great thing about europe, wait long enough in a new finance meeting will happen on its own. the rodeo, do you get the sense is is all theater on the way to a resolution, or is this actually breakdown in negotiations? hans: well, people that i know who have been here a lot longer than i have been and have been through greece cyprus, 2010 they seem almost -- not thing sanguine, but resigned to the fact that there will be some drama and histrionics but ultimately a deal. it is hard for me -- maybe i'm not that imaginative -- it is hard for me to see a deal emerging right now unless one of the side links. -=--- sides blinks. the warning a 50% chance of a greek exit, guys. tom: hans nichols, thank you so much, greatly appreciate it. olivia, you have a quote. olivia: yanis varoufakis wrote -- one may think of this retreat from game theori

prime minister alexis cigarettes -- alexis tsipras and yanis varoufakis due to arrive in downing streetwe are joined by gabriel sterne. gabriel, thank you so much for joining us. what does mr. varoufakis need to do? last week was a fiasco on the market. they steam -- seem to have tempered that stance. clear message to investors should be what? >> he has a dilemma. he is driving his own domestic constituency which is saying enough is enough. there was a nice quote he gate over the weekend. then, there is keeping the whole thing afloat with his community of finance ministers who he needs to keep greece in the eurozone. here is a guy who is playing brinksmanship. it is the first time we are seeing profit brinksmanship in the oil crisis. it will be interesting to see how it pans out. >> where do the weak points lie? people are looking at the debt restructuring story. you get the sense that there are a few problems. >> the weak points are his finance ministers that want to give what he wants -- that is quite a week negotiating position. >> what does he want? >> ultimately, i think what the n

bit more on the greek situation because tom we learn something very important and that is that yanis varoufakisannot make a deal without calling athens first. we had a remarkable scene last night. six hours of meetings. about four hours into it, they thought they had a deal. varoufakis calls athens, checks in, they say they cannot agree to the language. wolfgang schaeuble did not agree -- had already less of a given message on his phone saying no deal yet for my visually he realizes there is not going to be a deal and he drives often everybody does their recriminations and the finger-pointing in front of the cameras. brendan: hans, this is a political thriller. i will review and interview from yanis varoufakis -- merkel is the most astute politician by a long way, and schauble is the only politician with substance. hans: let me count the ways i can flatter you as a host. it would be almost as diffusive and almost as i'm genuine. there is clearly a charm of fact going on by mr. varoufakis. i spoke with him coming out of the meeting, and he said look, we will find a way. we have progress moving t

yanis varoufakis will lay out his plans tomorrow, which is what everybody wants.ut their cards on the table, every other european finance minister will be there, and we will have real news tomorrow. tom: my agenda is measles -- it is back. i cannot believe i am saying this. measles is back with some demonstrative numbers. i wrote article out of berkeley california five or six kindergarten or surround berkeley, california, it was stunning where this issue is going. pay attention to this issue of measles. that is not only the agenda for the morning -- brendan: it should be a public health issue, but it is solely becoming a political issue. tom: had we get from measles months, rubella to small pozx? james, are you going to do some in on vaccines? james: we are thinking of looking at the bad behaviors consumers have. tom: james manyika thank you so much. we say good morning. ♪ >> good morning. it is tuesday, february 10 and we are live from bloomberg headquarters. we are 90 minutes away from the opening bell. we have some great guests this morning, starting with mort

alexis tsipras and yanis varoufakis have learned about dealing with europe besides perhaps wearing a tie? a lesson that brendan greeley has also picked up on. >> what have they learned about dealing with europe? they have almost no leverage. let's put it that way. greece is bound to the terms of the bailout. what yanis varoufakis and alexis tsipras wonder was some control over their own destiny and they won some of that. as i put it to our colleagues this morning, they still have to hack off one of their limbs. the situation before was the ecb, the imf, and european commission were telling greece which of their limbs had to be hacked off, and other greek government gets to decide is it going to be my left arm, my right leg? at the end of the day, it amounts pretty much to the same thing. >> erik schatzker, continuing coverage in athens. we have breaking news. this is out the door with the ceo and the force takes over taking over at dish network, mr. clayton is out this morning. >> he has been there for about four years. >> that shows the turmoil in the industry. dish used to be its o

yanis varoufakis. stewart, great to have you on the program. was going to start by saying look, we've been waiting for somebody to blink, and it does look like the greeks blinked first. but germany, once again, hot off the press, they're going to reject this proposal. >> the problem with german finance minister is that he's both arrogant and ignorant. because it's not up to germany alone to do this. there's a procedure known as enhanced cooperation, whereby some member states can actually support greece without that depending on germany. >> but won't some say, hey, germany senior the pay master of europe. it's the german taxpayer money that's gone in to bailing o out the greeks. that's what some will say. >> this is one of the great mistakes and delusions. it's not german taxpayer money, though chancellor thinks the it is. for example, the recovery of europe which is needed for the whole of europe and not just for greece to which yanis varoufakis has made a growth-related repayment schedule doesn't depend on germany. it can be funded by bonds,

the greek finance minister, yanis varoufakis, said the negotiations weren't in a collegial's. -- in a collegial spirit. he is confident the latest ultimatum from brussels will be withdrawn. let's get a check on markets in europe. all the major indices ended lower. the dax closed down 4/10 of 1%, the ftse down over 1/3 of 1%. markets in the u.s. are closed this monday for president's day. france's defense minister has signed a deal to sell 24 fighter jets to egypt with a price tag of over 5 billion euro. how this sale comes with -- and this sale comes with some financial risk. >> they have finally found a buyer. egypt has agreed to pay just over 5 billion euros for 24 fighter jets, a naval frigate and other military equipment. but with its economy in tatters, egypt requires financing to -- to complete the deal. they will pay a 500 million euro deposit to secure the order. to finance the rest, the country will borrow funds from french banks, which have promised it a verbal rates. -- it favorable rates. for this strategic sale, the french government has pledged to point -- pledged 2.35 b

yanis varoufakis: why not simply have the two institutions find it amongst themselves find it amongsts, a way of transferring this funding? betty: varoufakis says investors are showing confidence in the reform plans. the cease-fire may finally be taking hold in ukraine. the government says there were no attacks overnight by the pro-russian rebels. ukraine says the separatists violated the cease-fire repeatedly. kiev has another problem. ukraine's currency has fallen more than 50% against the dollar this year. the central bank banned foreign currency trading late -- last week but lifted it late yesterday. there could be a partial shutdown of homeland security if the house does not pass funding. the senate struck a deal on the budget that separates homeland from the bloc. the president spoke about it at a town hall meeting in miami. president obama: what we said to republicans is instead of trying to hold hostage funding for the department of homeland security, which is so important for our national security, fund that and let's get on with actual passing a comprehensive immigration ref

the greek finance minister yanis varoufakis in an exclusive interview. he is counting on the european central bank to help the country avoid default, but he says the ecb owes greece $2 million. practices our money. they find a way -- >> this is our money.

yanis varoufakis did give an interview.d, what we cannot accept is the fiscal agreement by the last government be carried through because the rules say so. there's a possibility as long as the sides are talking for a deal. they meet at 3:00 today. last may, angela merkel in alexis tsipras had a positive conversation as described by the greek side. german officials are saying greece does not have to profit a -- to proffer a new agreement, the proposal can be the basis for negotiations. they have made clear they want greece to stay in greece has been just as clear saying they want to leave the bailout. francine: what is the ecb considering? hans: the ecb is prepared to ask greek banks to stop relying so heavily and stop buying as much greek debt. reduce their holdings. next month, greece plans to roll over another 4.4 billion in greek treasuries. the main buyer is the greek central bank. if greek banks are not buying that debt it is going to be difficult for the government to find themselves. they could face a cash crunch. yo

the greek finance minister yanis varoufakis agreeded to a four-month extension if the deal is agreed in athens, mark lowen, tells me more. >> reporter: we're expecting the greek government will submit that list of conditions it is willing to implement in return for the four-month loan extension in brussels. it will be considered by the european central bank and the imf. they will give their verdict tomorrow whether they believe it meets what they request of the greek government. if there is complete disagreement, the deal could collapse. if there is fine tuning needed greece has until april to do so with its certreditor institution. and that's when greece needs that $7 billion of aid disbursement. really, it's going to be kept on a pretty tight leash by the germans and others who want athens to try to stick to some of the conditions of the previous bailout. still, that tug-of-war goes on. >> and, is today an absolute definite deadline because a lot of these deadlines move as we keep saying. >> they do but today is a deadline, yes. and i think that greece is going to fix a deadline. i

yanis varoufakis called for an extension. >> we need to extend the loan agreement for a few months, so as to acquire the stability we need. it will have to be conditional . >> it is understood that greece will try to extend its 240 billion euro bailout along the kinds of compromise deal suggested by the eu's economic affairs minister pierre moscovici. under the framework, the eu would extend greece loans six months after they expire on february 28. the government would agree to maintain economic reforms, continue to run primary budget surplus, and pledged to pay its creditors back in full. in exchange, it would gain some leeway in terms of what reforms that could alter or do away with. they won't agree to crippling austerity measures. they won't give into psychological blackmail, he tells parliament. euros on finance ministers said they are not getting -- eurozone finance ministers said they are not getting a clear message from athens. >> no one among my colleagues is sure what greece wants, in the end. it is also a question of whether greece even knows what it wants. >> the clock is t

the former economist, yanis varoufakis, has promised radical change as his government seeks to renegotiateece's huge debt obligations and to roll back key parts of its international bailout. after talks in france this weekend, he is set to meet with his counterparts in london today and in rome later this week. on saturday, varoufakis said he wanted to wean his country off of loans. >> do i believe [indiscernible] no. it is not that we don't need the money, we are desperate because of certain commitments and liabilities we have. in my message to our european partners is, for the last five years, has been living for the next loan. as i said earlier, we have resembled drug addicts craving the next dose. what this government is all about is ending their diction. >> varoufakis said greece was "desperate" for money. but he insisted it would not seek a 7 billion euro installment on its 240 billion euro bailout package because that would require the country to adhere to austerity measures. this comes as the new greek prime minister alexis tsipras said he was confident that greece could reach a dea

committed to and they want some form of debt relief, most likely in the form that finance minister yanis varoufakis proposed. angela merkel said she would wait and see. >> the three institutions of the troika the ecb the eu commission, and the imf have a great on programs. these are the basis of any discussion we have. i've always said i will wait for greece to compensate sustainable -- to come with a sustainable proposal and then we will talk. >> let's start in athens, a more optimistic day on the markets compared to the fall we have seen. the athens ase up today. bankshares recouping some losses after the huge files in recent days. worries over greece as well as ukraine waiting on the markets. london ftse 100 in the red. among the shares is the bank hsbc down for a second date in the wake of the swiss revelations that the bank helped wealthy clients evade taxes. investors worrying about new investigations from the u.s. or the u.k. we will have to wait and see what developments come out of that. genie: the falling price of oil has been moving the market. a rebound seems to be on the way. >> we've

meanwhile, greek finance minister yanis varoufakis is on the diplomatic offensive meeting his british counterpart george osborne to speak about response woes. >>- -- about greece's woes. >> the best way to assist is by helping greece to turn the page to reform and start growing so we can afford to pay back everything with interest. >> earlier, he said that his government would not negotiate with the truck up about greek their last conditions -- with the troika about greek bailout conditions. alexis tsipras is due to discuss it with leaders in rome, paris, and brussels this week. so far, there is no visit to berlin on the agenda three -- agenda. >> i spoke to a member of the german parliament foreign affairs committee and member of the party which is an ally of greece's governing syriza party. i put it in that the policy of the new greek government is irresponsible -- toi put it to him that the policy of the new greek government is irresponsible. >> the greeks voted for this, for that government. it is the correct way to do. i'm sure that this is a very responsible government and i'm s

the greek finance minister yanis varoufakis had gone into this meeting hoping to get european partners to agree to a bridging deal that would give greece interim finance while it renegotiated its massive 240 billion euro bailout. the bailout extension and said pass the current deadline a federer or 28, but that would require the greek government to implement austerity measures which they have planned not to do. a joint statement from the meeting, both sides felt some progress had been made. >> we had an intense discussion and constructive, covering a lot of ground. also making progress but not enough progress yet at this point to come to a joint conclusion. >> we understand each other much, much better now than we did this morning, so i think it is a major issue because from understanding, agreement follows. >> of course the european council meeting taking place today will allow the first up close encounter with angela merkel, as they will be sure to something on the sidelines of that meaningful eurogroup meeting of the finance ministers is on monday. they are hoping to make more progr

next up for yanis varoufakis is a meeting in berlin with his german counterpart, wolfgang schÄuble. >greece has achieved more in the past years than the experts ever thought was possible three years ago. there is no denying that there is still a lot to do. but those who say that everything is on the wrong track haven't looked at the situation. >> despite these words, the german government's official staff remains tough. the german chancellor has ruled out the possibility of securing debt write-offs from creditor nations. >> the markets continue to keep a close eye on the efforts by greece to renegotiate the bailout deal and how investors view the latest on auction. our correspondent has more from frankfurt. >> for the first time since the new greek government came to power, the greek republic came to the money markets this wednesday. it auctioned off six months treasury bills. there was much less demand at this option that at previous auctions of that type. and the banks demanded much higher interest from greece than before. this shows how skeptical the financial markets are when it c

text that was -- >> that was finance minister yanis varoufakis speaking class in athens. reaction on the ground to the deal? >> it is kind of next. there is a feeling that this is a capitulation. on the other hand, there is a counter argument saying, the pre-election platform was nothing the euro area would just agree to. it was always about a negotiating position. you heard in the segment the finance minister varoufakis talking to change in the base. how issues will be agreed to in the coming months. the government is casting this as a triumph. yesterday, there was a long meeting between governing parties, mps, in which they discussed this at length. there was some opposition within the party. at the end of the day, a lot of people voiced concerns. a lot of people are rallying behind the agreement because it is just a starting point as far as they are concerned with the hard work ahead. >> what will happen at the end of four months? >> and that is what we are going to see. the deadline in february was precious. this is when the bailouts expired. greece was going to face

yanis varoufakis arrives in frankfurt to meet the ecb president. will he get the central bank's blessing for his debt plan? >> slippery oil. the commodity falls after the biggest four-day rally in six years. >> and we are going to talk wages and inflation for the work and pensions. good morning. "the pulse welcome to -- welcome to "the pulse." >> the greek fiscal odyssey moves on to germany today. grace's finance minister will meet the ecb president in frankfurt today. >> let's get to our international correspondent, hans nichols in germany. what kind of a reception is he going to receive in frankfurt? who is going to be the first dimension t-bills? >> i guess varoufakis has to mention t-bills because he has to figure out some way to finance. this entire longer-term payoff deal in maybe april or may, or even june, hinges on their ability to get some sort of bridge financing from the ecb. so far, there's been no indication that they are willing to give that bridge financing. they might need anywhere from -- 10 billion is one number in terms of raisi

greek finance minister yanis varoufakis will meet his german counterpart this morning.ine: after months of speculation, bt has agreed to buy ee for 12.5 billion pounds. bt said the deal will be completed by march of 2016 pending antitrust approval. if the deal goes through, bt will control the u.k.'s largest wireless operator. guy: a surge in mercedes sales has resulted in a 10% increase in fourth-quarter profits for daimler. operating profit of the world's third-largest luxury carmaker rose from 2.5 6 billion year ago. ceo dieter zetsche i has vow to overtake bmw and audi by bolstering the lineup with 11 new brand models. francine: we will hear more from the dialer ceo for a nice bloomberg interview later on this hour. guy: now, supporters of scottish independence argue that the country could support itself with oil from the north sea. the recent collapse of the price of oil has called into question that claim. bps ceo told bloomberg that the outlook for the north sea oil industry is serious. >> i think this will put a lot of stress on the u.k. and the north sea. there

yanis varoufakis says the ecb should simply hand the money to the imf. oufakis: this is money that is our money. why not sadly have the two institutions make themselves find a way of transferring these funding? olivia: varoufakis also said they are showing confidence in the new proposals. he said almost $800 million returned to greek's bank accounts. hobbies a tens of millions of dollars have left. and it appears pro-russian rebels in ukraine are giving peace a chance. the government said there were no rebel attacks on its troops overnight. ukraine has accused separatist of constantly violating the cease-fire. meanwhile, the country has another problem -- the ukrainian currency has been in freefall, losing almost 50% against the dollar this year. the central bank imposed a ban on foreign currency training this week. brendan: prosecutors have charged three residents of new york city with supporting islamic state. two of the says eyes were planning to go to syria and join the terror group. the third suspect is accused of paying the others' airline fees. the

yanis varoufakis arrives in frankfurt to meet the ecb president.t the central bank's blessing for his debt plan? >> slippery oil. the commodity falls after the biggest four-day rally in six years. >> and we are going to talk wages and inflation for the work and pensions. good morning. "the pulse welcome

yanis varoufakis said the greek government wants an honorable settlement there is no plan b. >> europeancks fall. the banks take a hit. >> day three on the trees. ukrainian conflicts continues. ♪ >> good morning, you are watching "the pulse." i am guy johnson. >> i am francine lacqua. no de

finance minister yanis varoufakis told bloomberg the mood of the meeting was positive, but refused to answer our questions about the reality of funding greece's government. >> i hope it is a positive one. it should reflect the positive attitudes of everyone around the table today. i was impressed by the openness, the understanding of course disagreements, but very civilized disagreements. it was quite clear to me and my colleagues that the intention of everyone was to find common ground. that, to me, is greatly encouraging. >> any closer to issuing another 8 billion in t-bills? >> don't ask me. >> it is a serious question. will you have the ability to fund your government? >> [indiscernible] >> that was the greek finance minister speaking to hans nichols in brussels. also in brussels, tom mackenzie. he has been up all night tracking the story. what exactly could not be agreed upon at the meeting? >> frankly, not very much at all. last night's meeting came on the back of yanis varoufakis' whirlwind tour of european capitals where he was trying to drum up support for the new greek gover

. >> greek finance minister yanis varoufakis says that millions are flowing back into greece after theuro bailout deal. not millions of people, but millions of dollars. he spoke to erik schatzker in an exclusive interview. >> yesterday we had a deposit flight back into the greek banking sector. 700 million to be precise. >> 700 million euros came back? >> yes, as a result of the news of this agreement. i haven't checked the numbers but it will be there. >> you are still down. >> it is a question of direction. once you turn the tide you are up. >> he says he is counting on the european central bank to help avert default when it runs out of money next month. salesforce reports a fourth quarter loss of $66 million. revenues rose 26%, though. subscription and support revenues are up 25%. professional services is up 41%. salesforce is pushing data analytic, corporate social networks and marketing services. but is not helping them make profit. investors like that shares are rising. morgan stanley agreed to a $2.6 billion settlement with the justice department to resolve claims tied to sales

here is yanis varoufakis explaining what he means by that. yanis: the ecb goods and we this money to the imf -- could simply hand over this money to the imf as partial payment. this is money that we are wrote, and this is -- we are owed, and not borrowed money, but our money. why not have the two institutions find it amongst themselves a way of transferring the funding? erik: mark, it is still a question. will greece run out of money, will it not run out of money? i asked mr. varoufakis how confident is he that it will not run out of money and his response, "pretty confident." i will have to leave it there mark. back to you in new york city. mark: erik schatzker with that exclusive interview with the greek finance minister. up next, president obama traveled to miami for a town hall today on immigration. chief washington correspondent peter cook is there. you want to preview went that he will have a preview went "bottom line" continues in just a moment. ♪ mark: let's get you some of the top stories we are following this one's a wednesday. shar

finance minister also expressed skepticism regarding his counterpart, greek finance minister yanis varoufakis. >> he is not so efficient in trying to convince others. that is what i can say in observing him. there is room for improvement. amy: you wrote a piece in the "guardian" recently, saying germany is eating itself over greece eroding moral authority and seems prepared to destroy the eurozone's integrity just to make a point. explain what you mean. paul: inside german decision-making circles, there is a policy they cannot run a budget deficit. they regard the rest of southern europe -- spain, italy, portugal, as big spend thrifts inefficient. that is the feeling. with greece it is personal because greece elected a government led by a party one-third of them are far less marxist, and most belonged to the new tradition that would put them way to the left of any politicians. it is more than just about money. people have been trained as marxists, so this is something that nobody in europe expected, least of all the germans, and the germans basically known -- they cannot get their head around

yes, the new greek prime minister alex tsipras met the president jean-claude juncker while yanis varoufakis talks with the central bank. they say negotiations have started with the imf. and the greek stock market has responded positively that the new greek government has backed off asking for debt to rewritten. varoufakis wants to exchange 300 billion euro debt for bonds, bonds repaid only if greece's economy grows. however, it does now seem that that greek charm offensive may be coming to a bit of a halt because the financial times is reporting today that the european central bank is resisting an attempt by greece to secure 10 billion euros of short-term funding. greece wants the money so that they can have basically more time, more time to breathe, more time to negotiate more favorable terms on their massive debts with the so-called troika the international lenders, the european commissioner, the imf and european central banks. after he meets with the big boss draghi he told us how it went. >> i had the opportunity to present to him our government's government's -- i'm waving the terminat

exclusive hotel deals - up to 60% off...priceline.com >>> the new greek finance minister yanis varoufakis came away with very little from his meeting with his german counterpart wolfgang schaeuble on thursday. germany remains the strongest opponent among eurozone countries to the greek's government plan to renegotiate the terms of its bailout. if economic arguments don't work how about emotional or historical ones? in an interview with german television mr. varoufakis compared greece's plight to that of germany. if you human late a proud nation for too long, and subject it to the worry of a debt deflation crisis, without light at the end of a tunnel then things come to the boil. well let's get a little more on reaction from our correspondent in berlin damon mcginniss. what reaction has there been? >> well what we can say, is that today's papers is all about mr. varoufakis because he has pretty much a cult following here in germany among left wing supporters and trade unions. what's very interesting about these particulars historical analogies he made on german television yesterday is ther

i've been following the travels of the new greek finance minister yanis varoufakis, who is a total hoot. he's kind of like jason statham, but more importantly, varoufakis is saying all the thing. he's crazy, but crazy like a fox. and i think that germany, the richest, most solvent country in europe, is scared to death of this guy. they're scared because he's not afraid to blow everything up. he's expendable! the guy is playing the last card the germans ever want to hear. he's playing the nazi party card. he's saying the nazi party is on the rise in greece, because of austerity. the greek finance minister with his firebombs is freaking everybody out, but that kind of guy is going to get his way. germany will have to loosen its purse stripgstrings and part with some money to get some things move. german is going to allow a stretch of deep debt payments. maybe something like 70 years. that will give greece what it wants and show that the germans aren't unreasonable. that is going to be hugely positive for our market. but if you play the nazi card at a time when there's also french extremis

yanis varoufakis visited a number of european countries as part of his government's push to roll back austerity and renegotiate greece's international bailout. on thursday, varoufakis was met with a chilly reception in germany, greece's biggest creditor and the leading european backer of its austerity. at a news conference with german counterparts, varoufakis made a direct appeal to german taxpayers. >> my message to be hard-working taxpayer is that you have given us too much money in the last five years, not too little. unfortunately, this was not an act of solidarity even though it was portrayed as one to the greek people. 90% of that money never came to greece. it was a single transfer of banking losses, initially under the shoulders of the greeks. everybody knew the shoulders of the greeks were not strong enough to sustain that weight and it would spillover do you. we are coming here to begin for the first time, a dialogue about how to minimize the cost of the greek crisis to the average greek, german, finn, spaniard portuguese, and so on and so on. >> german economy minister sigm

greek finance minister yanis varoufakis said he had been trying to negotiate. >> we were offering to refrain effectively, from implementing our own program, the program we were elected to implement, for six months. and all we were getting back was an endless promise of some flex ability that was never specified . under the circumstances, it proved impossible for the greek government, despite our infinite goodwill, to sign the offered communiquÉ. and so the discussions continue. >> the breakdown has raised fears greece may be on the verge of leaving the euro zone. the talks in brussels came one day after some 20,000 people rallied in athens to support syriza's push against austerity. later in the broadcast, we will speak with the leader of the anti-austerity party in spain pablo iglesias. a csx train carrying over 100 cars of crude oil derailed in west virginia, sending a massive fireball into the sky and forcing 1,000 people to evacuate . governor earl ray tomblin declared a state of emergency. at least 14 tankers and a house caught fire, and at least one car went into the kanawha ri

greek finance minister yanis varoufakis said he remains confident a deal can be reached when negotiations resume next week. >> we had many different interesting opinions. we've had the opportunity to look at the views and now we're proceeding to the next meeting which is in a very few days, on monday, hoping that by then there will be conclusion to the deliberations in a manner that is optimal from both perspectives of greece and our european partners. >> in a show of support for the government's position, thousands of people rallied in athens on wednesday to reject internationally imposed austerity. >> the crucial point now is solidarity. we need solidarity. that is the whole point. and the elections sent a message, i believe, sent a crucial message to all europeans people that now we have to be united and we need solidarity. >> in egypt, two al jazeera journalists have been freed on bail in egypt after more than 400 days behind bars. mohamed fahmy and baher mohamed were released today at the start of a new trial. the pair and a third colleague peter greste, were arrested as part of a cr

the finance minister after meeting his greek counterpart, yanis varoufakis in berlin, he went on to saygreece belongs in the euro zone and that german understands that greeks have had some tough times in recent years. late yesterday on wednesday, the european central bank this was a surprise unexpectedly toughened its stance on greece saying that from the 11th of this month, it would no longer accept greek bonds as collateral against -- debt, that is debt against loans. it cited doubts about greece's commitment to its bailout term. so what exactly does all of this really mean? let me show you. up until this point, greek commercial banks were able to borrow money at a very low interest rate. look at this around 0.05%. however, banks in the country will now be forced to borrow billions of euros directly from the greek central bank. why is that a problem? i'll show you. greek banks will now have to pay this. 1.55 of a percent to borrow the same amount of money from their central bank making it certainly significantly more expensive to borrow cash. now, all of this puts certainly more press

the new fn minister, yanis varoufakis is in berlin meeting his counterpart.as more. >> reporter: every day, they dish up greek food for hungry journalists. this appetite here for austerity. theodore is greek. what our country needs now, she tells me, is a new start. the greeks don't want to beg for help, she says they want help that comes voluntarily and in friendship. they don't want to be blackmailed. they want help so they can grow. she'd get on well with dennis. >> it's important they get time to get feedback again, so we can prolong the debt to repay. i think there should be no cut. because they must become economically healthy and then they can pay in the longer time. >> but the mood in germany is pretty unrelenting. senior politicians and economists are clear, we've bent over backwards for greece already, they argue. there'll be no debt relief. officially, the line from angela merkel is, let's wait and see what greece really wants. but today's meeting is likely to be kept if only because here in the euro zone what germany says really matters. >> greek

yanis varoufakis will meet with his german counterpart who has so far been one of his toughest critics. what can we expect? our journalist joins us via web cam from athens to talk about this. and we should say that greece generally wants to renegotiate the terms of its bailout. but germany, that's the largest creditor in the eurozone simply saying member nations' positions haven't changed. what kind of goals does each side bring into these meetings today? >> reporter: this is going to be one of the toughest meetings so far for greece. it's true that germany has not shown any willingness to change its stance saying there was a bailout program. this was agreed and greece has to stick to its bailout terms. greece for its part is, saying well we have a new government a new mandate. clearly, we have a program that has not work. it was a program based on austerity. what we're asking for is a program based on growth giving people some breathing space to get the economy up and running again. and giving it room to grow. this is going to be what the two sides are going to be negotiating on. what

now let's roll the video of yanis varoufakis who has to present the big plan today. he showed up looking as a socialist in his berberry scarf there, asked, if greece is going to leave the euro? he said absolutely not. he had just come from a meeting with the head of the imf, christine he guard and she spoke about that meeting. >> we had a good meeting. first time i met him. a very good exchange of view. >> so we wait to hear. now this could go on for hours. some of these meetings have gone on 10, 12 hours overnight. it's 5:30, 6:00 in the evening there and we wait to see if they come out with anything likely. we're going to be doing this again on monday. back to you. >> interesting, michele, you actually met the finance minister before madam le guard did as well. she said she met him for the first time. >> he's been -- so that's an interesting point you bring up. a lot of the other finance ministers are frustrated that mr. varoufakis has been negotiating out in public via the press for days and days now. we could hear someone saying, actually like to see the plan, we