the most positive remark coming from alexis tsipras, saying an agreement was inside. he said people should not worry about the imf payment on friday. that is the payment of $329 million which is the first of four installments. he said they were very close to an agreement on greece's primary surpluses. amid this optimism, there were hints that there were lingering disagreements among the leaders, alexis tsipras saying he thinks the most realistic -- the only realistic proposal on the table came from the greek government, saying that the basis for any agreement must be a great proposal rather than a proposal put in place by creditors. alexis tsipras saying he is optimistic that the commission will continue with a realistic point of view. rishaad: thanks very much, indeed.

citrus -- alexis tsipras will turn us into north korea. >> alexis tsipras is the man who will take us forward. he is doing the right thing for people. >> the government has been sending conflicting signals. they encourage people to vote no. but with hours to go before default, the government made another offer and is now involved in yet another round of last second negotiations. the finance minister's upbeat as he headed to work tuesday afternoon. reporters asked if a deal could still happen. thanks of been closed since the beginning of the week. the government will relax capital controls to allow pensioners to make one-time withdrawals of 120 euros. much uncertainty remains. with the new proposal on the table, the ball is back in europe's court. alexis tsipras will have to have greek voters approve that is part of the referendum as well. brent:sarah: matthew joins us on the line. these are very difficult and confusing times. what is the mood like their? matthew: thousands demonstrated tonight. yesterday night, thousands again were demonstrated with the no vote. it was opposed by cred

shery: alexis tsipras is on the night shift, talking with the imf, ecb, following five hours of talks with no break earlier on wednesday in brussels. they came out of the meeting saying negotiations were tough, creditors saying they were difficult. we also had to finance ministers meeting that lasted for less than two hours with no break. they just went back, saying they needed to take stock of the situation. alexis tsipras at one point on wednesday venting on twitter, denouncing creditors for refusing his proposals. he said repeated rejection of equivalent measures by certain institutions never occurred before. indicate thereto is no interest in an agreement or special interests are being backed.

to the greek people and why alexis tsipras is choosing to do this. >> as we understand it there'll be a yes or no question do you accept the plan or not. therefore that plan will be made public at some point today. parliament is convening at this hour, and for the next five hours will decide on how to put the question. five hours from now we hope to have the full wording of that referendum. we know that alexis tsipras said it was an ultimatum, what the creditors propose will add unbearable weight to the shoulders of the greek people and will undermine the recovery of the economy, by fuelling equality and called it humiliating austerity without end and asked the greeks to send a message of austerity.

difficult for alexis tsipras.ery tough politically for him, that is why he is effectively fighting for his political life in brussels. anna: in frankfurt, the ecb continues to support the greek banking sector, with the latest on that? guy: we will wait and see whether there is another ela application made today. the outflows have slowed out of the banks. as the situation in brussels ratchets up again, maybe we'll see that story again and see more applications being made for ela money. it will be interesting this weekend to see what happens. if we don't have a deal this weekend, conversations will come back and we will see that story being presented strongly monday morning. anna: thank you very much. let's bring in the chief economist at g plus economics. if there are redlines that are going to be crossed, they will have to be redlines crossed on some side or the other to find a compromise do you think debt reduction has been so much a part of the greek argument for so long is that going to be part of this deal or

minute offer to the greek prime ministers in a late night phone call he is set to have urged alexis tsipras to accept creditor's proposals and campaign in favor of the package ahead of the july 5th referendum. julia, what exactly was in that proposal and do you think that tsipras will accept it? probably not, right? >> probably not, carolyn. very difficult for him because obviously within in that detail of that new proposal they want tsipras to do a u-turn and vote yes in the upcoming referendum. the concessions they gave a little bit of acceptance over the bonus payments to pensioners. tsipras would have to agree to everything else. difficult for the government given the stance they have taken but since then there's all sorts of rumors flying around. one of the members doesn't want to sit at the table anymore with him. there's also supposed to be a press conference in the next hour or so. that's now been cancelled. it was also cancelled yesterday. so furious speculation about just what's going on within the party and their handlings of these negotiations and of course as we look ahead to t

greek prime minister alexis tsipras is shed jeweled to meet -- alexis tsipras is scheduled to meet angelakel and francois hollande. the talks are in doubt as greece's latest plans have failed to impress creditors. other institutions have had their ratings cut by standard & poor's. they are less likely to provide aid in a crisis. barclays and rbs also had a long-term rates reduce -- long-term ratings reduced. we have some fifa news for you via the bbc. presidential elections will happen on the sever 16 in zurich after -- on december 16 in zurich after sepp blatter resigned. there is expected to be a news conference in paris at 10:00 today so we make it a little clarity at that point in time. we will bring you all the reporting you need on that story. a little later on here in the city of london, u.k. chancellor george osborne speaks of the annual mentioned houston or. he is asked -- mansion house dinner. let's get more from our host the executive chairman of capital economics. the chancellor would like to in -- to legalize a plan to make sure that we run surpluses when the sun is shining o

the greek prime minister alexis tsipras has called for a referendum on whether his nation should acceptroposed debt bailout. the vote will occur ton 5th of july. he will ask for an extension of the current debt bailout which ends on june 30. >> translator: tomorrow with a letter i will ask officially from the european leaders and institutions an extension of the program for a few days so that the greek people can decide free are pressure and blackmail as the constitution of our country dictates and the democratic tradition of europe. >> barnaby phillips has the update from athens. >> alexis tsipras gave the statement to the nation at 1:00 in the morning local time. humiliating and a violation of european rules he said. there seems little doubt from the tone of his remarks he will be recommending a no vote whether the greek people vote on sun, july 5th on whether to accept the terms. what would the consequence of a no vote be? many unknowns that are difficult to answer at this stage but perhaps mr. tsipras is is is hoping with such a no vote he could return to european creditors and the

check out the latest tweet from prime minister alexis tsipras. one hour ago he tweet at our proposal continues to be the only realistic and construct a proposal. the discussions will continue. #-pound-sign greece. >> there is a great video where he said can you make payments on friday. yeah, no problem. i'm not sure the e.u. folks are. an agreement with the creditors is within sight and activism make a payment tomorrow. speaking after late-night talks with senior e.u. officials in brussels. the two sides are trying to reach a compromise to prevent greece from possibly dropping out of the euro zone. ecb president mario draghi signaling a little slack in its fiscal target. it seems the folks we hear from seeing positive, especially on the greek side and this is going to go into the g7. in fact, there may be talks overnight tonight. this will likely continue. the traders, sandra, overall they are stuck in see how. also the national bank of greece was higher. so they are batting a deal comes through. sandra: but that is something with it done. howeve

alexis tsipras is calling for a referendum on sunday 5 july.eanwhile, european finance minister are meeting in brussels to agree a bailout deal for greece. >>> hundreds of tourists are flying home from tunisia after a beach attack killed 59 people. 80 mosques have been closed for inciting violence. >>> a day of mourning has been declared in kuwait after an accused bomber killed 2 worshippers in a mosque. kuwaiti police arrested several people including the owner of the car that drove the suicide bomber. the government denounced an all-out attack on terrorism. we have this report from the scene of the explosion. >> reporter: at the imam mosque, violence snuffed out lives of the faithful. a suicide attack during the muslim holy month of the ramadan shattered a society's sense of security, leaving dozens dead, hundreds wounded. >> some pictures have been shown of the suicide coward that walked into the place of prayer today wearing the same robes that i'm wearing now. it's difficult to stop that type of activity. we are investing, or will be inves

alexis tsipras got his way there'll be a referendum. a lot are asking why he made this decision and what it means for greece. >> well if you ask the zv opposition, he's made this decision because he wants to opt out of a difficult task of putting the memorandum the austerity package presented to him to his parliamentary block, because he knows it will create a division within the party and doesn't want to risk bringing down his government after five months. if you ask people on the street he is somebody who has fought hard to negotiate, harder than his predecessors he has not got what he wanted and because he had red lines, he stuck to his words and his electoral promises and decided to go back to the people. he's a prime minister sitting on a 36% majority and feels that he doesn't have the authority to reject the package because it would take grease out of the eurozone. neither does the finance minister have the authority to accept it. he'd bring home a package. this government distinguish itself making it difficult for presidents to c

alexis tsipras has raised the stakes. he has decided to spur the payment that was used to the imf today. instead, he will bungle them and make them at the end of the month. no country has done that and more than three decades. meanwhile, he had a phone call with angela merkel and francois hollande can projected -- and rejected demands -- today he will have a phone call with russian president vladimir putin. greek officials say they have cooperation in business and energy. goldman sachs may be the next bank to pay billions for a government investigation. goldman is in talks to pay $3 billion. an agreement may happen within weeks. the government has been pushing to hold more firms accountable for the 2008 financial crisis. in the nba finals cleveland's lebron james scored 44 points but it was not enough in game one. golden state beat the cavaliers in overtime. the cavaliers may have lost their second best player, kyrie irving -- who limped off the floor. brendan: it is shakespearean. tom: it is great. between the nba and ho

tell us about the question put to the greek people and why alexis tsipras is choosing to do this. >>s we understand it there'll be a yes or no question do you accept the plan or not. therefore that plan will be made public at some point today. parliament is convening at this hour, and for the next five hours will decide on how to put the question. five hours from now we hope to have the full wording of that referendum. we know that alexis tsipras said it was an ultimatum, what the creditors propose will add unbearable weight to the shoulders of the greek people and will undermine the recovery of the economy, by fuelling equality and called it humiliating austerity without end and asked the greeks to send a message of austerity. we know what side the debate the government stands on and that will have an effect on how the government votes. >> with the words you used. dig nit why and humility that's emotive. how does that go down with the people in greece. they don't want to be humiliated or want the country to fall apart economically, either. >> quite right. well, mr alexis tsipras, hi

london time -- alexis tsipras at six at 5 p.m. london time.nlocking a deal for greece. -- at 6:00 p.m. london time. health insurer cigna has refused a takeover bid from anthem saying it was in adequate and not in the best interest of shareholders. the rival was facing a number of issues including a lack of growth strategy and related antitrust actions. the deal would in the biggest takeover ever in the u.s. health insurance industry. eu foreign ministers meet in luxembourg for an extension to sanctions against russia over the ukraine crisis. they will be discussed with intelligence gathering and the mediterranean sea and efforts to combat refugee traffickers. the meeting starts and less than an hour at 9:00 u.k. time. after months of negotiation billionaire patrick drahi made a bid for bouygues telecom. with a more on the consolidation is caroline hyde at the touchscreen. caroline: share price reactions. we have bouygues telecom up the most in a four years. patrick drahi is a billionaire. he already owns the holding company one of the key fren

prime minister alexis tsipras lashes out at the imf as european markets tumble. that is coming up in business at 15 past the hour, but first, our top stories. ♪ france has lashed out at the united states after new reports from wiki leaks said the nsa has spied on the last three french president. the whistleblowing website said the u.s. eavesdropped on current president francois hollande as well as in a car sarkozy -- nicolas sarkozy and jacques chirac. a top official is writing a trip to the u.s. to get to the bottom of the claim. nicholas rushworth has more. nicholas: wikileaks reveals off ration espionage police say -- espionage elysÉe, thing they listen to the phone calls of top french officials and the last three french president. q a major diplomatic embarrassment for the u.s. administration, that embarrassment is only beginning with wikileaks dropping more about nsa's spying on france, among the leaks, that nicolas sarkozy sought in snow about the financial -- sought intel about the financial crash he considered it his response ability to europe in the worl

i think alex express -- i think suppress -- alexis tsipras was to keep the euro. jonathan: we have entered the 11th hour and a great crisis that means we have one more hour to go. chinese stocks stumble after a stunning rally over the past 12 months. the shanghai composition suffered its worst weekly drop since 2008. after two weeks of conflicting comments, we may hear less from the central bank of japan. they will cut down on annual meetings. alexis tsipras is in russia, and so is bloomberg tv, will bring you the latest from the st. petersburg economic forum. these stories and more throughout the hour, good morning. ♪ jonathan: good morning, and welcome back. this is "on the move." let's get you up to speed on where my guitar. equity markets in london dead flat. the dax goes higher. a long day ahead. let's have a look at the fx market and the bond market. euro sterling, fascinating. heading for a ninth straight day of losses. that is the law -- longest losing streak so far in 2015. spreads were blowing out again this morning, they are kind of right now again. the

alexis tsipras/out at creditors.he accused -- prime minister alexis tsipras lashed out at creditors, accusing them of taking "strange" positions. in a tree, he wondered whether the creditors actually wanted a deal. as the talks are underweight in brussels, people and businesses are on tenterhooks, and many say that further cuts and tax hikes as the government tries to seek more bailout cash. reporter: the clock is ticking for greece in the scramble to find funds and stay in the euro. greeks are waiting with some trepidation. with more austerity measures on the horizon, small businesses are likely to suffer. nikos fears that his third generation clock makers may have to wind up once and for all. >> this is a 90-year-old shop, and despite living to the not occupation, living to the second world war, the civil war, the military dictatorship, now the germans are going to come and shut us down? come on, guys! that is unacceptable. reporter: greek authorities have proposed up to one billion euros worth of cuts, with potent

greek mps have backed prime minister alexis tsipras's request for a referendum. but the europeans will not allow an extension of the debt, that leaves them closer to a default. >>> houthi rebels in yemen have attacked a refinery in the port city of aden. 14 people have been killed. cross-border shelling from houthis and forces loyal to ali abdullah saleh. >>> since the shooting of nine victims in charleston, south carolina a demonstrator who pulled down the confederate flag over the state house has been labeled ohero. tom ackerman has more. >> reporter: bree newsome climbed up the 30 foot flag pole early on saturday, she and her supporters say they were taking down the confederate state battle flag, a mark of white supremacy that inspired the killing of nine bible study members. within hours a crowd campaign raised more than $60,000 for her. others said it could delay the momentum for change. state legislature which has sole authority to remove the flag. in yoursomein newsome says action needs to be taken now. >> in nonviolence, we have to do the right thing or i

that will bind alexis tsipras' hands.livia: you are saying the outcome of the vote will not rattled the markets? betty: it was one of the biggest s&p movements of this year. the market has now bounced back up today. in my mind, a lot of the volatility has been built in because we have been talking about it for so long. just like we talk about the fed every day. i think that is a buying opportunity in the u.s. and europe. i've heard that a lot. especially if there is a no vote. david cote talk was mentioning that. if you can get it, why not. it doesn't matter greases out of the eurozone to that company. james: we have been saying this will be an increasingly stock pickers market. in situation like this, we have economic volatility and everyone sells at the same time, that is where you can get deals and bargains. matt: there was not much change in the euro. a yes vote does not do much, but if there is a no vote, implying that greece will issue ious in that as, isn't strain? move athe markets did little yesterday, but it is

prime minister alexis tsipras rejects proposals that would facilitate the release of bailout funds. en asked about the payments due to the imf tomorrow, tsipras told reporters, don't worry. let's get the details on all this. the chief strategist and head of asset services at rell. hello, francois. don't worry, are you as we lack mr. tsipras seems to be? >> i believe that you need to be careful with germany. germany has strong demands from greece. i think tsipras thinking he can get rid of the idea of changing the benefits system in greece is going to far, too fast. the germans are very strong on the position and they want structural reform in greece. mark: will a compromise be reached? the first imf payment is due tomorrow. 1.6 billion euros is due in june of own. we have the bailout deadline at the end of june. a lot of deadlines. francois: but at the end of the day, when you look at the negotiation between greece and europe, you can see that time is not necessarily what matters. it is the spirit. you need to get to something which is a common spirit. mark: are we getting that? fran

tell us about the referendum that alexis tsipras is hoping to hold.learly he's hoping for a no vote. >> hello. it does appear that way. alexis tsipras says he'll respect any decision that the greek people make. he made it clear that he believes the latest plans by greece's creditors would lead to humiliating austerity without end and placed himself clearly on the matter. this is not the irs time however, that this idea has come about of the referendum. it's the result of government's finding themselves in enormous difficulty adjudicating tension between electorate taxpayers and creditors. is came up in november 2011 triggering the demise of the prime minister, the socialist party leader at the time. he was reprimanded by creditors for creating political uncertainty and was told to step down or accept through a parliamentary procedure austerity measures presented at that time. we moved on from there. parliament has been through a lot. there has been several elections since then. this party feels it risks splitting itself by presenting another austerity

prime minister alexis tsipras says he won't cling to his job if the greeks do not support his referendum. france detains two managers from the low cost uber car service. hello, egypt's prosecutor general has died after a car bomb targeted his convoy as it passed near a military academy in the capital cairo. hisham barakat is the first top official to be assassinated since mohammed morsi was deposed in 2013. barakat oversaw many judicial is rming proceedings. abdullah al-shami has the story. >> half a dozen started burning debris over a wide area. with hisham barakat was appointed to the position of prosecutor general in 2013. he oversaw many judicial proceedings. antigovernment dissenters of all stripe. thousands have been sentenced to life in prison. abdullah al-shami al jazeera. >> following assassination the muslim brotherhood issued this statement. current government established on violence, turned egypt from a promising democratic country to a one of violence. there is no way to tend bloodshed until the empowerment is eradicated. mohammed al masri who do you think is likely to be be

. >>> first, the greek parliament decided to back alexis tsipras's call for a referendum on the terms of a new european debt bailout. it's thought the greek people would vote on the bailout terms in a referendum planned for next sunday. the decision has not been welcomed by eurozone's partners and they criticized a move and rejected a request to extend the bail out programme beyond the deadline of june the 30th. greece needs to make a payment to the i.m.f. the international monetary fund by tuesday, or it risks going into default. it brings greece a step closer to a euro exit. the impact on the economy could be disastrous as it relies on emergency cash injections. there's a fear that the banks may run out of cash much barnaby phillips has more from athens much >> reporter: a momentous and abbingry moanious de -- acrimonious debate in the greek parliament. at one stage opposition members walked out. buteneded in a vote for a referendum. the prime minister alexis tsipras said it was a chance for the greek people to take back control of their destiny. >> this game finished with the verdi

shery: alexis tsipras is on the night shift, talking with the imf, ecb, following five hours of talks with no break earlier on wednesday in brussels. they came out of the meeting saying negotiations were tough, creditors saying they were difficult. we also had to finance ministers meeting that lasted for less than two hours with no break. they just went back, saying they needed to take stock of the situation. alexis tsipras at one point on wednesday venting on twitter, denouncing creditors for refusing his proposals. he said repeated rejection of equivalent measures by certain institutions never occurred before. indicate thereto is no interest in an agreement or special interests are being backed. this, afterll of all this dragging on, you can imagine markets reacting. europe 600 is slipping. ase slipping the most among markets in europe. angie: that also bled through on to wall street. the eu leaders are meeting in brussels. what can we expect? shery: at this point, it is hard to tell. ministersh finance expects concrete proposals by the meeting at 1:00. meeting, leader start arrivin

the speech comes a day after alexis tsipras said the imf bears criminal responsibility for the situationn his country. jack lew called tsipras to urge him to reach a compromise. as the greek crisis continues to clout the global economic outlook, the federal reserve is due to release its latest review of the world's biggest economy. investors will focus on the fed's quarterly economic projections. janet yellen's press conference at 7:30 p.m. u.k. time. it will be watched very closely for clues on the direction of policy. lawmakers in hong kong have begun their debate on possible elections for the territory's chief executive. it would give hong kong citizens a vote from a list of candidates preapproved by beijing. thousands of people have taken to the streets to protest against the plan. let's get more on the fed policy meeting with michael sneed. good to see you bright and early this morning. let's start with the fed. what are we expecting from the fomc? we get a press conference with janet yellen, don't we? we get some economic projections. are you hoping for a big change from the last t

alexis tsipras with tough talk. encouraging people to vote no.e greeks want to stay in the eurozone. they just don't want the tough austerity measures that are needed. that is the disconnect. we'll see what happens with the referendum. we're seeing accelerated selling into the close. the dow is down 325 points. liz: i'm looking at the volatility index up 37%. mike, showing some fear. let's not overstate this. we're an hour and four minutes away from greece outright do defaulting on the loan to the imf. does that mean much to the mom-and-pop investor here? >> we don't know yet. if john is correct we end up in chaos, uncertainty drives prices down. could be a great buying opportunity, could be opposite. we could end up week or two things work out. major market move up. but on the other hand as we learned with the subprime crisis, unintended consequences. liz: does it surprise you the u.s. dollar isn't stronger today? i thought it would skyrocket. maybe people believe the euro is strong enough it can survive without a country that has the gdp of the

sandra: what does the future look like for alexis tsipras at this point? we are waiting for a news conference later today. what is the feeling on the ground about his future in the country? reporter: well, he's taken a huge gamble. he's been a strange thing by asking the great people to say yes or no to wallop the antiauthority measures demanded by the european creditors. he asked for the referendum and has been campaigning against the same great people should vote no. the latest polls suggest the great people will say gas, which brings about the question of his political future. if greece says we will take the assertive measures multiparty and tsipras has been campaigning against measures, will put his political future in jeopardy, do it then face the prospect of great collections. it's a huge gamble, neither side blinking. he still has other people who say he represents the pride of race, but others who say we want to stay in the eurozone and this is plain that their future. we don't want to imagine what it would be like outside the eurozone. sandra: ash

reporter: alex us abreast -- alexis tsipras announced ert back on the air. genie: the team of french and belgian scientists say they know the cause of parkinson's disease . that new development could mean scientists are closer than ever to finding a cure. reporter: the tremors of the parkinson's patient. up until now, little has been known about the disease but a new development set to change all that. scientists have identified fibers in the brain that cause parkinson's. these ribbonlike structures attached themselves to neurons depending on the clusters they form they can cause neurological disorders, including parkinson's. the franco belgian team of scientists carried out tests on rodents to find this protein causes parkinson's. researchers can get to work on treatments. in france, 1% of people over the age of 65 suffer from parkinson's. it has an impact on their quality of life with heavy medication only easing symptoms to a certain extent. this breakthrough could allow for early diagnosis in potential patients. genie: you're watching france twice for. t

and this is why alexis tsipras income his speech on sunday, said he asked for another extension of the bailout, just until monday, until they can have the referendum, and there's no sign that's going to be greed to. >> talk us through about this referendum, because if i knew correctly, he said something like it's advisable for the greek government to tell the truth for the people, is he accusing them of lying? >> that's the reference that the savings were being made on both sides particularly around saturday around points that you were having one side say we never got agreement on this, and the other side saying we actually had agreed to saving, then a whole information war involved about who's making threats and who's agreed to what and who's telling who what. and that all becomes very important, balls the question in the greece referendum is going to be on this proposal. do you or do you not accept the economic reform proposals that have been put forward? the idea, is of course alexis tsipras announced part of his strategy well, if is it going to force them to change their offer, are

erik: alexis tsipras has a message to creditors.e will push lenders to be realistic about what his country can accept. in brussels, his creditors will present a final proposal to break the stalemate. creditors have been asking alexis tsipras for a plan to reform greece's pension system and labor laws. mario draghi says that any plan must accomplish several roles. : we want greece to stay in the euro, but there should to be a strong agreement. it is one that produces growth, has social fairness, but is also fiscally sustainable and addresses the remaining sources of factors of financial instability in the financial sector. this will be the component of a strong agreement. erik: it sounds a easy, doesn't it? greece has submitted its own proposal. one official told bloomberg it is simply not good enough. olivia: that threat of a default is one reason the global growth forecast has been cut. the global economy will grow only 3.1%, down from the 3.7% growth in forecasted last fall. the crisis in greece is hurting confidence and business

i would say that alexis tsipras is responsible for criminal inactivity. a gamble of whether greece not. stay in the eu or in the last five months, this government has used many tough statements of this sort, which alienated the european partners, the imf and icbc. what do international creditors want to hear at this point? what do they want to hear from the greek government and international creditors? let's be straight about this. the main creditors are official institutions. --isi would say is that important, is is the message they get is that they're going to be much more political resistance to merkel and draghi in the future, they are going to be more anxious about the credit and credit worthiness of both countries, spain and italy. mark: is there real concern that greece will be forced to or will voluntarily leave the euro? mr. brown: they may forced to leave but they have a strong bargaining chip, the euros left in the bank systems and the citizens holding international liquidity. they may actually get better terms offered to them by brussels and b

i cannot say any more than this. >> alexis tsipras is unlikely to accept unchanged the plan that he put forward to the break people to vote upon. monday night he signalled that he was open to a last-minute deal. in this game of brinkmanship he sees it after a no vote on the plan. alexis tsipras has to contend with a rested home front, it's not just the media that turned against him, public opinion turned against him with a no vote, and a very vote maintaining a loss of sovereignty stinging greek pride. all may not be lost and a last minute deal could happen if it doesn't, the euro dilemma could tear the greek society apart. >> the referendum is artificially dividing society, as people tied in terms of the referendum, whether they can resolve the economic melas by voting yes or no. in favour of the yes vote are those that are afraid a no vat will signal a greater departure of greece from its european partners, not just in terms of a currency, but political terms as well. >>> porto rico's government is set to approve a new budget. one of the questions, how much to put towards the territor

alexis tsipras will meet creditors again today in a bid to pledge a new aid package for his country. he left the meeting yesterday without a deal and leaders said they had made little progress and no breakthroughs. the latest round of negotiation comes ahead of next year's a.m. bailout expiring -- next year's bailout expiring. he will travel to brussels as he seeks to advance his renegotiation of the european union. david cameron will talk about u.k. sovereignty and impose immigration. his conservative government has pledged to hold the referendum over britain's membership of the eu by the end of 2017. . who is working with tax officials -- last week, yahoo! ceo reassured

alexis tsipras said he was elected to not continue with austerity, an unemployment rate of 26%. but the european commission says perhaps we can lower the interest rates and stretch it out. and tsipras has declined that offer and said he will leave it to the greek people. let's put it forward to a referendum. and last night he was suggesting that he will abodyide by the outcome which is raising the specter of elections if greeks vote to stay in the euro. >> in the long term greece needs that debt to be cut to make its way out of this economic down spiral. but this is not the first time that greece has been down this road. what could be the long-term everyone cations of a potential debt default today and on sunday's referendum as well. >> well as nina was pointing out there in the market analysis it depends on how the market interprets this move. it is a default coming up by the end of the day to the international monetary fund. the lights won't go out on greece but it's how the markets interpret this. and so far it's spreading to peripheral countries of the european unit with high

greek prime minister alexis tsipras, calls for a a referendum. ♪ i once was lost ♪ >> u.s.ama has delivered the eulogy for a pastor and eight others in south carolina. >>> police have arrested a man following a decapitated body was found. causing an explosion near the city of l yirvetionyon. san franciscan raised its terror alert to the highest level after the attack. >>> european union countries have agreed to relocate 40,000 migrants who have landed in italy and greece after landing fleeing their home countries. lawrence lee has the story. >> more people to be processed more trouble for europe. whereas some european countries will never offer anybody shelter, while others will, a bigger deal for looking after refugees. >> the fact we took hours to agree about the system to be set up obviously shows that europe is not living up to the values it promotes in each and every occasion when i.t. speaks abroad. >> reporter: on europe's borders the fences are going up, between egypt and syria. even if they have no interest in staying there that is pushing anti-migrant sentiment ov

a few others and then alexis tsipras aired that is what makes it very difficult.y have this weekend a meeting of the heads of state that could move greek closer to a default that you mentioned for closer to a solution. i think both are so possible. as we mentioned, if you get to the end of the month without a deal, is will be very difficult. is will be impossible to continue funding. olivia: are capital controls the first up to the path of default and how likely are capital controls. antonio: you can have a missed payment on june 30 and the decision, and as a result of that, the greek authorities have to oppose them -- impose them. if there is no decision, it is very likely that one has to have a baseline scenario of capital controls. outflows,the international transfers, and credit card payments. olivia: what do you think about that? do you think is will go down cyprus style as we are calling it? every three months, the chinese gdp grows by the size of the entire greek economy. other people say this is a lehman style moment where the whole house of cards could co

for the past four months, that alexis tsipras once europe to know i have auctions -- i have options. tom: you and i heard this eight weeks ago come and here it is today. brendan: because they are pushing off the possibility of making all four payments to the imf this month at once at the end of the month. we are at the point when you were negotiating with a mob boss, when you say, please just give me a month. i have got it. i've got it. hello, viewers, i did not say it. tom: greece is like fifa. let's get to top headlines with vonnie quinn. vonnie: a very serious may jobs report in 2.5 hours from now. economists predict the economy created 26 thousand jobs last month. the unemployment rate is expected to hold steady at 5.4%. the big question is whether the labor market is strong enough for the fed to raise interest rates in the next few months. imf director christine lagarde

here's what we have from alexis tsipras as well.e years of recession have been devastating. therefore, we must move forward without the mistakes of the past. mistakes of the past means austerity. it is clear that creditors are going to insist on pension and labor reform. the market seems to be positive. it is just because we finally have an agreement. you can see the potential for an endgame. mark: what about the greek proposal? hans: they want to bring the surplus down to 0.8%. spend more than they have previously indicated. let's go for some of the details. we have had so many conversations about what the red lines are. has everyone stake out there redlines, it can be difficult for alexis tsipras to back away. how much room does he have to maneuver? we may get some answers. mark: why is alexis tsipras going to brussels tonight? guests: things are simple. after dozens of missed headlines, deadlines, sorry, creditors decided to take matters into their own hands. they asked the representatives of the european commission to hammer out

the greek parliament has decided to back i prime minister alexis tsipras' call for a referendum on the european bailout. planned for next sunday. the decision hasn't been welcomed by greece's euro zone partners. they have refused to extend the bailout of june the 30th. greece needs to make a $1.8 billion repayment to the international monetary fund by tution. thereby tuesday. there is a real fear that the banks may run out of money. barb biphillipsbarnlbarnaby phillips

alexis tsipras is going to brussels but comes backs from st. petersburg signing a deal with russians for a new gas pipe line which is jointly with turkey. i mean who wants to see greece outside the european union, and possibly outside of the european union, and then there'll be major disruption for n.a.t.o. and europe een security as a whole. in a zone in which you have greece receiving hundreds of refugees every until day. so that the destabilization in the areas is possible if greece steps out of the european monetary union, it will be the first step towards a bigger catastrophe for both n.a.t.o. and the european union. the geopolitical repercussions are there >>> still to come on al jazeera - why russian investors are pouring money into the u.k. despite european sanctions. >>> and a heatwave takes a deadly toll in pakistan. career... from hell? >> it's thrilling when it's working.... >> every tuesday night. >> i lived that character. >> go one on one with america's movers and shakers. >> we will be able to see change. >> next on al jazeera a

alexis tsipras' new offer is progress. how far will that progress goal? what deals could be struck? ahead of the ecb and imf? what would i managed to get through and the emergency meeting? -- what could they manage to get through the emergency meeting? up .3%. we are seeing rest asset coming back. out of germany out of the so-called safe havens. the bond price is falling. yields are up for the u.s. treasury as well up six basis point. meanwhile, money tentatively going into periphery. contagion really rearing its ugly head last week.

. >>> brim minister alexis tsipras has made a last minute offer. if greece doesn't repay a $1.8 billion loan by the end of the month, it could lead to a disastrous exit from the eurozone. john psaropolus. >> after years of aust air tee, these people believe they have a government that's on their side weighing in at more than 600 people greece's public servants represent one in six greeks still in work. >> our government is negotiating an honorable compromise. it wants europe divided. we want to stay in europe as an equal member. >> reporter: is some are from the private sector. >> we came here to support our government's efforts and to tell europeans that numbers aren't everything. there are people here they are suffering. we don't want the same social classes to continue to lift this weight. >> century old laws have begin state laws tenure for light. the state she had 300 since it began. deals not available in the private sector. >> this is the most powerful and well organized labor force in greece capable of swinging elections at more than a bill

and late today, prime minister alexis tsipras turned up the rhetoric against greece's creditors, urging greece to reject the terms of an internl aid deal in a referendum he h he says th the rejectio of the creditor deal the stronger the greek hand in any future talks. his comments followed another credit downgrade from standard & poor's which said at a commerci default in greece was inevitable withi six months. and that the probability of greece exiting the eurozone now stan that's well above any prior by the close the dow jones industri average fell 35 to close at 17,596. the nasdaq was off 122, and the s&p 500 fell a sizable 43 points. european financial markets were jolted. so kaulcaed piigs stumbled. portugal and italy, spain, the greek stock mar closed until at least july 6th the greek etf fell 2. michelle caruso-cabrera h >> reporte as night falls in athens it is the end of a pivotal three days for greece. it started late friday night when alexis tsipras, the prime minister announced after midnight on national television that he would hold a referendum this coming sunday for the g

and alexis tsipras saying the eu doesn't have the nerve to throw his country out of the eu. the prime and esther saying that europe needs grace. rebounding, generally speaking. indonesia just getting in on the action. will be live in jakarta later. let a look at what is the last trading day of the first half of the year. >> we are still seeing that volatility continue in china. officially still in bear territory after we saw yesterday. down by more than 22 from a high on june. the asian markets are rising from those three-month lows after closing yesterday at their lowest level since march 17. in japan, the nikkei currently

alexis tsipras presents new measures that could decide his nation's future. greece are open today, but will that be the case tomorrow? and, thousands have taken to the streets of athens, but is tsipras overplaying his hand? we have the latest on the fast developing story. welcome to a special program here on bloomberg television "the greek drama." i'm francine lacqua. alexis tsipras has presented a new plan in hopes to stave off a debt default. the proposals will form the basis of a discussion in brussels today that could go a long way in determining the future in europe. we are just hearing from mr. juncker, saying they are not there on a greek pact. he's also saying, i don't know if we will have an agreement today. we have full coverage of the crucial day for greece. hans nichols joins us from brussels. guy johnson is on the ground in athens. paul gordon is in frankfurt. hans, what do we know about the greek proposal? hans: we know they sent a revised proposal late last night. my colleague is reporting that right now. they initially sent the wrong proposal.

the office of alexis tsipras is tncluding a deb restructuring. it is time to make he'll marry attempts, and that's what this seems to be. in addition to allowing 1.5 billion euros to the imf the current bailout program will expire at midnight central european time. that is when greece will run out of money. feltmpacts will not be immediately, because the banks are on a mandated holiday, but from a financial perspective greece is out of options. that is why this emergency request is being made. it is not clear how this will play out. whether the european stability , an independent organization established in 2012, needs to establish the request, additionally buying the up toy extra time leading

support of the government in athens prime minister alexis tsipras asked european leaders to the deadline. they said no. mr. tsipras has called for a referendum on the bailout this sunday. >> translator: we will survive. we stand on our feet we'll be alive. and we'll go and practice our right to vote. and we decide as people what will be our future. >> for more on this i want to bring in cnn's isa soares joining me live from athens. for greeks the limit is 60 year rows a day. if you have children and a family that is barely enough to live on. but some pensioners haven't been able to get money out at all. can you explain why that is? >> reporter: absolutely zain good morning to you. the payday for pensioners was initially on tuesday.

i went back and i reread article 13, which is mentioned by alexis tsipras in his letter. it is true that some of the conditions can be met to have such application. but at the same time, a program based on article 13 requires a memorandum of understanding that participation of the imf is encouraged, and the negotiations have to be run by the european commission. it is exactly the same framework we have at the moment. the only difference is that greece is saying please find another way of financing us let's have a formal program, and in fact, they added a letter all the payments they have to make in the next two years, not only the ones in 2015. they seem to be thinking about the program that effectively is also three-year program. marcus: he was speaking to us there from mizuho international in london. as we stay with the greek story the finance minister says that greece won't make the 1.5 billion-euro repayment this evening to the international monetary fund. that payment is due this evening at 6:00 washington time, where the imf is based. parallels has been drawn with a

>>> the greek prime minister alexis tsipras has made a last-minute offer to his international creditors. european leaders are headed to brussels for emergency talks if greece doesn't repay a $1.8 million by the end of the month, it could lead to an exit on the eurozone. thousands urged the government not to back down on the pressure. >> reporter: syriza is unpopular in some parts of europe. not here in athens. after years of austerity, these people believe they have a government on their side weighing in at more than 600,000 people, greece's public servants represent one in six greeks in work. our government is negotiating an honour. it wants europe united not divided under germany. we want to stay in europe as an equal member not a debt colony.