but i actually agree with what christine lagarde said. often you get the impression that greece has been sitting on the back sides doing nothing. their structural deficit at the start of the crisis was 10% of gdp and now virtually at zero. the problem is they have got to move to get something like a structural surplus of 5% if they're going to get their debt coming down. lots more to do. and with the politics as it is, it is always going to be a challenge. >> the right plan. is the medicine still the right medicine or not? >> i think the difficulty is for countries like greece and portugal who need to go to the rest of the eu to fund themselves, it is difficult for them to say, well, do it a little bit more slowly. whenever they do their fiscal tightening more slowly, it means someone else has to stump up the cash and that's germany. we know they're up against the limits of how much they're prepared to give. i think there are other countries in europe, germany, the uk, where perhaps fiscal austerity could be scaled back a little bit and l

according to the imf's christine lagarde, new risks in the global economy have emerged. among them, the fed's future plans to pull back on stimulus. lagarde claims it's already having a ripple effect on the u.s., china, and brazil. she notes that europe's deepening recession also remains a concern. a new beginning for libor: nyse euronext will take over the administration of libor, the financial industry's benchmark interest rate. libor came into focus after several large banks admitted to roles in manipulating the rate, which is tied to interest rates globally. nyse euronext will take over the responsibilities early next year. tesla is on the move. the upstart electric car company will join the nasdaq 100 monday. tesla shares are up roughly 260% this year. its market cap has revved up to a value of $14 billion. tesla currently trades on the nasdaq. the nasdaq 100 is an index of the top 100 companies of the nasdaq. the shift is happening as oracle exits the nasdaq for the new york stock exchange. general motors is following tesla's lead by releasing a hot car that is als

chief christine lagarde believes that the danger of currency manipulations is pretty much exaggerated now this meeting is also a part of some major preparations for the upcoming g. twenty summit that will take place in st petersburg this of temper boom really seems at the same time that it is increasingly being used as a bargaining chip and international politics now their worst some rumors is that the u.s. president barack obama will would not be able to meet with the president lies even if we can in moscow if russia grounds asylum to the former anas a contract or adverse notion though earliest such a meeting was announced to take place around the time of the a neology twenty summit now white house press secretary jay carney he later outlined that the president in turn to travel to russia for the g twenty summit but refused to comment further and he also acknowledged that he was being deliberately vague on that issue but still it really seems that those economists who have gathered here for this a g twenty finance ministers meeting had put politics aside and were really discussing so

chief christine lagarde believes that the danger of currency manipulation is pretty much exaggerated now what is really remarkable about this meeting is that the brics countries are also taking part in already trying to combat some world financial problems now this meeting is also a part of some major preparations for the upcoming g. twenty summit that will take place ensign peters birth this suppose the seems at the same time that it is increasingly being used as a bargaining chip and international politics now there are worse some rumors and speculations that it's the u.s. president barack obama will would not be able to meet with the president lies even if we can in moscow if russia grants asylum to the former anas a contract or adverse notion though early as such a meeting was announced to take place around the time of the a neology twenty summit now white house press secretary jay carney he later outlined that the president in turn to travel to russia for the g twenty summit but refused to comment further and he also acknowledged that he it was being deliberately vague on that i

chief christine lagarde believes that the danger of currency manipulations is pretty much exaggerated now this meeting is also a part of some major preparations for the upcoming g. twenty summit that will take place ensign peters birth this september boom really seems at the same time that it is increasingly being used as a bargaining chip in international politics now their worst some rumors as does the u.s. president barack obama will would not be able to meet with the president lies even if we can in moscow if russia grants asylum to the former anas a contract or adverse notion though early as such a meeting was announced to take place around the time of the a neology twenty summit now white house press secretary jay carney he later outlined that the president in turn to travel to russia for the g twenty summit but refused to comment further and he also acknowledged that he it was being deliberately vague on that issue but still it really seems that those economists who have gathered here for this a g twenty finance ministers meeting not put politics aside and were really discussin

chief christine lagarde believes that the danger of currency manipulation is pretty much exaggerated now this meeting is also a part of some major preparations for the upcoming g. twenty summit that will take place ensign peters birth this september where really she emerged at the same time that it is increasingly being used as a bargaining chip an international politics now there were some rumors stout's the u.s. president barack obama will would not be able to meet with the president less human fortune in moscow if russia grants asylum to the former anas a contract or adverse notion though early as such a meeting was announced to take place around the time of the a neology twenty summit now white house press secretary jay carney he later outlined that the president in turn to travel to russia for the g. twenty summit but refused to comment further and he also acknowledged that he was being deliberately vague on that issue but still it really seems that those economists who have gathered here are for this a g twenty finance ministers meeting hot put politics aside and we're really d

chief christine lagarde believes that the danger of currency manipulation is pretty much exaggerated now this meeting is also a part of some major preparations for the upcoming g. twenty summit that will take place in st peter's birth this september where really seems at the same time that it is increasingly being used as a bargaining chip in international politics now they're worse and worse just as the u.s. president barack obama will would not be able to meet with the president lies even if we can in moscow if russia grants asylum to the former anas a contract or adverse notion though early as such a meeting was announced to take place around the time of the a neology twenty summit now white house press secretary jay carney he later outlined that the president in turn to travel to russia for the g twenty summit but refused to comment further and he also acknowledged that he was being deliberately vague on that issue but still it really seems that those economists who have gathered here for this a g twenty finance ministers meeting hot put politics aside and we're really discussing

lagarde believes that the danger of currency manipulation is pretty much exaggerated now what is really remarkable about this meeting is that the brics countries are also taking part in already trying to combat some world financial problems now this meeting is also a part of some major preparations for the upcoming g. twenty summit that will take place ensign peters birth this september boom really seems at the same time that it is increasingly being used as a bargaining chip an international politics now there war some rumors and speculations that the u.s. president barack obama will would not be able to meet with the president less human fortune in moscow if russia grants asylum to the former anas a contract or adverse notion though early as such a meeting was announced to take place around the time of the a neology twenty summit now white house press secretary jay carney he later outlined that the president in turns to travel to russia for the g twenty summit but refused to comment further and he also acknowledged that he it was being deliberately vague on that issue now there were o

chief christine lagarde believes that the danger of currency manipulation is pretty much exaggerated now this meeting is also a part of some major preparations for the upcoming g. twenty summit that will take place in st petersburg this september where really seems at the same time that it is increasingly being used as a bargaining chip and international politics now there were some rumors as does the u.s. president barack obama will would not be able to meet with the president lies even if we can in moscow if russia grants asylum to the former anas a contract or adverse notion though early as such a meeting was announced to take place around the time of the a neology twenty summit now white house press secretary jay carney he later outlined that the president in turn to travel to russia for the g twenty summit but refused to comment further and he also acknowledged that he it was being deliberately vague on that issue but still it really seems that those economists who have gathered here for this a g twenty finance ministers meeting hot put politics aside and were really discussing

chief christine lagarde believes that the danger of currency manipulation is pretty much exaggerated now what is really remarkable about this meeting is that the brics countries are also taking part in already trying to combat some world financial problems now this meeting is also a part of some major preparations for the upcoming g. twenty summit that will take place in st peter's birth this september really seems at the same time that it is increasingly being used as a bargaining chip an international politics now their worst some rumors and speculations that's the u.s. president barack obama will would not be able to meet with the president lies even if we can in moscow if russia grants asylum to the former anas a contract or adverse notion though earliest such a meeting was announced to take place around the time of the a neology twenty summit now white house press secretary jay carney he later outlined that the president in turns to travel to russia for the g twenty summit but refused to comment further and he also acknowledged that he it was being deliberately vague on that iss

chief christine lagarde believes that the danger of currency manipulations is pretty much exaggerated now this meeting is also a part of some major preparations for the upcoming g. twenty summit that will take place in some petersburg this september boom really seems at the same time that it is increasingly being used as a bargaining chip in international politics now their worst some rumors that the u.s. president barack obama will would not be able to meet with the president lies even if we can in moscow if russia grants asylum to the former anas a contract or adverse notion though early as such a meeting was announced to take place around the time of the a neology twenty summit now white house press secretary jay carney he later outlined that the president in turn to travel to russia for the g twenty summit but refused to comment further and he also acknowledged that he it was being deliberately vague on that issue but still it really seems that those economists who have gathered here for this a g twenty finance ministers meeting had put politics aside and were really discussing so

chief christine lagarde believes that the danger of currency manipulation is pretty much exaggerated now what is really remarkable about this meeting is that the brics countries are also taking part in already trying to combat some world financial problems now this meeting is also a part of some major preparations for the upcoming g. twenty summit that will take place ensign peters birth this september boom really seems at the same time that it is increasingly being used as a bargaining chip an international politics now there war some rumors and speculations that's the u.s. president barack obama will would not be able to meet with the president lies even if we can in moscow if russia grants asylum to the former anas a contract or adverse notion though early as such a meeting was announced to take place around the time of the a neology twenty summit now white house press secretary jay carney he later outlined that the president in turn to travel to russia for the g twenty summit but refused to comment further and he also acknowledged that he was being deliberately vague on that issu

chief christine lagarde believes that the danger of currency manipulation is pretty much exaggerated now this meeting is also a part of some major preparations for the upcoming g. twenty summit that will take place in st petersburg this september boom really seems at the same time that it is increasingly being used as a bargaining chip in international politics now their worst some rumors is that the u.s. president barack obama will would not be able to meet with the president lies even if we can in moscow if russia grants asylum to the former anas a contract or adverse notion though early as such a meeting was announced to take place around the time of the anyon g twenty summit now white house press secretary jay carney he later outlined that the president in turn to travel to russia for the g twenty summit but refused to comment further and he also acknowledged that he was being deliberately vague on that issue but still it really seems that those economists who have gathered here are for this a g twenty finance ministers meeting not put politics aside and we're really discussing s

lagarde who is the french finance minister at the time led a coordinated g seven intervention to assist to strengthen start to weaken the yen actually so that this does go on all the time one of the problems that was europe is not exactly on board the clearly the u.k. japan and the u.s. are in this easing mode although the may have changed up a little bit with taper talk but europe is as not playing ball so far so it's just a mess well let's talk about the future of the global currency situation currently the u.s. dollar is the rebirth reserve currency of the world but there's been talk of reverting to s.t.r. as we're trying to you know has a part could we even see gold play a part in it. gold's a bit of a stretch i think the international monetary system will collapse sometime in the next you know three to four years that's really not meant to be a provocative statement the international monetary system has collapsed three times in the past hundred years the collapse in one thousand nine hundred eighteen it collapsed again in one thousand thirty nine and a collapse again between one ni

lagarde who was the french finance minister at the time led a coordinated g seven intervention to assist to strengthen start to weaken the yen actually so that this does go on all the time one of the problems that was europe is not exactly on board the clearly the u.k. japan and the u.s. are in this easing mode although the may have changed up a little bit with taper talk but europe is as not playing a ball so far so it's just a mess well let's talk about the future of the global currency situation currently the u.s. dollar is a rebirth reserve currency of the world but there's been talk of reverting to s.t.r. as we're trying to you know has a part could we even see gold play a part in it. gold's a bit of a stretch i think the international monetary system will collapse sometime in the next you know three to four years that's really not meant to be a provocative statement the international monetary system has collapsed three times in the past hundred years the collapse in one thousand nine hundred eighteen it collapsed again in one nine hundred thirty nine and the collapse again between

lagarde who is the french finance minister at the time led a coordinated g seven intervention to assist to strengthen start to weaken the yen actually so that this does go on all the time one of the problems that was europe is not exactly on board the clearly the u.k. japan and the u.s. are in this easing mode although the may have changed up a little bit with taper talk but europe is as not playing a ball so far so it's just a mess well let's talk about the future of the global currency situation currently the u.s. dollar is a reverse reserve currency of the world but there's been talk of reverting to s.t.r. as we're trying to you know has a part could we even see gold play a part in it. gold's a bit of a stretch i think the international monetary system will collapse sometime in the next you know three to four years that's really not meant to be a provocative statement the international monetary system has collapsed three times in the past hundred years that collapsed in one thousand nine hundred eighteen it collapsed again in one nine hundred thirty nine and a collapse again between

lagarde who is the french finance minister at the time led a coordinated g. seven intervention to assist to strengthen start to weaken the yen actually so that this does go on all the time one of the problems that was europe is not exactly on board the clearly the u.k. japan and the u.s. are in this easing mode although the may have changed up a little bit with taper talk but europe is as not playing a ball so far so it's just a mess well let's talk about the future of the global currency situation currently the u.s. dollar is the reverse reserve currency of the world but there's been talk of reverting to s.t.r. as we're trying to you know has a part could we even see gold play a. when it. goes a bit of a stretch i think the international monetary system will collapse sometime in the next you know three to four years that's really not meant to be a provocative statement the international monetary system has collapsed three times in the past hundred years it collapsed in one thousand nine hundred eighteen it collapsed again in one nine hundred thirty nine and

lagarde, tell fox business exclusively that they see a second half slowdown due to things like the sequestraaion. is that really coming to pass? >> you know, you're starting to see a little more fear coming into it. economic data had a little big on it too. but the fact that people seem to think that the fed is going to wait on the tapering certainly putting a little bit into the bonds and the treasuries, and that's what you're seeing. all of this chatter in the background certainly doesn't hurt the argument to see those go up as well. liz: yeah, i think so. and, jon, in the end we're looking at the dow crossing ther today. a lot of indecisiveness, and maybe it is in advance of the president's speech, although i'm not sure what could be market moving there. >> where you know, right now it's a typical summer monday here. you can tell by the lack of volume and the little bit of volatility that we're seeing here. but i think investors though what's on the calendar this week, so they're just looking for that other catalyst that might be there. it could be the president, it could be a headline that w

they need to have the dialogue here with christine lagarde of the international monetary fund. also, becky, another clear point here from the u.s. in the statement that came out of the white house. president obama suggested they'd need to have a democratically elected government. they didn't suggest the democratically elected democratic government of president morsi here. so what the white house is looking for and why they suspended aid, they didn't want the military to take control and hold on to control. they would like to see a smooth transition. that's what the business community is looking at as well. they had phenomenal foreign direct investment before the revolution. $45 billion through t2011. after 2011, 2012 the total was only $4 billion and mostly in oil and gas. they need to get that fdi back in. they need to get security for tourists back in. and he they need to get the loans going forward as well. >> yeah. tough times. it's a big job. and we are look at the installation at least of a transitional president within the next half hour. that is a start. and let's hope

lagarde who is the french finance minister at the time led a coordinated g seven intervention to assist to strengthen start to weaken the yen actually so now this does go on all the time one of the problems that was europe is not exactly on board the clearly the u.k. japan the u.s. are in this easing mode although the may have changed up a little bit with taper talk but europe is as not playing a ball so far so it's just a mess well let's talk about the future of the global currency situation currently the u.s. dollar is the rebirth reserve currency of the world but there's been talk of reverting to s.t.r. as we're trying to you know has a part could we even see gold play a part in it. gold's a bit of a stretch i think the international monetary system will collapse sometime in the next you know three to four years that's really not meant to be a provocative statement the international monetary system has collapsed three times in the past hundred years it collapsed in one thousand nine hundred eighteen it collapsed again in one nine hundred thirty nine and collapsed again between one ni