the same old arguments, greece needs more money, greece is not performing. the european lenders and europe are battling over what to do. can i put a gun to my head now? what do you say to that? this is square one. another thing that is or is the same is that there is a deadline approaching, and external deadline. at some point greece will have to make a payment. the big ones are perhaps in april, and the really big one you mentioned is the repayment of the ecb. that is private creditors, injuly. of the ecb. that is private creditors, in july. does it have the money now to make these payments? probably has the money for the april payment but not the july probably has the money for the april payment but not thejuly payment. by july, it needs that big amount of money. it needs to pass the second, only the second review of the programme, which was agreed back in 2015. but the problem, or the issue, which is slightly different this time, is that it is still so many months away. the first understood half months away. the second is four and half months away. it is

relu cta nt greece and we know germany is reluctant to do so. angela merkel is fighting a re—election battle which is proving quite challenging. this is proving quite challenging. this is going to be interesting. greek ministers are seeing the reports are not true because the greek economy is doing well but they always say that. it is difficult because the imf has been saying for a long time, we think that greece should be allowed to restructure its debt and germany in particular has been digging in their heels, saying, no way, we will not do that because berry difficult politically for them so berry difficult politically for them so interesting to see how this plays out because clearly the scenario in greece is unsustainable. economically. the tax rates, all of it is unsustainable. and what they are asking for pensioners. the imf is right, they can't the eu huge crisis where eu fl crisis where the the eu faces a huge crisis where the existence of the euro - eurozone existence of the euro and eurozone is in question again. can either of you r

greece doesn't want this. but you could have an accident where you have a defaulted member of the euro system. i don't think the ecb should put up with it. dazzle huw van steenis and mark with the mathematics. ok, here's the devaluation of france, going back to 1981. italy is worse. evaluation italy when everything goes flat. this is deutsche mark. greece is its own banana republic east, a complete failure. we don't understand, mark gilbert, the difference between this question on greece and europe. do we? mark: well if contracted. economists had expected it to gain. clearly the economy is in deep trouble. they have done a lot on tax reform. but it still isn't a functioning member of the euro society in the way that the architectures of the master treaty -- and remember talking to them about how this is going to enforce this, it hasn't worked out the way they had expected. and it is partly why think greece is in danger of accidentally slipping out of the common currency. tom: mark gilbert, i appreciate that. i

the people of greece take to the streets in protest over a tax hike. the country's economy is shrinking, but its creditors are demanding further austerity. it means more cuts and more pain. also in the programme — up, up and away, as india breaks a world record and shoots 104 satellites in one go into space. we're going to look at how that country is becoming a serious player in the space race. and as always all the market action. it was another record setting day on wall street. stay with us, we'll tell you why? also in the programme, finding a diamond in the rough! we'll meet the woman whose company is turning waste into energy. lloyds of london is banning drinking during work hours. today we want to know, is the liquid lunch a thing of the past? is it ever acceptable to drink during the working day? just use the hashtag bbcbizlive. welcome to the programme. the eu's top economist, pierre moscovici, is visiting greece today to talk about the country's debt problem. he's trying to break the deadlock over the release of a further bailout. athens and

are you worried about greece? >> we always worry about greece. guy: muscle memory doesn't teach you that it blows over? >> well, you use the classic phrase kicking the can down the road. you can see why the imf and the ecb are right on greece. greece has made a significant progress on its budget. that has gone into a surplus. but the economy is still pretty small versus the size of the debt. for the imf is right is the sheer volume of debt that greece is sustaining. come the next recession, or even when they raise rates eventually, that is when it really begins to the common issue. are going well you can relax but it is when things turn down that you can see whether it's a challenge. guy: great to see you. thank you. up next, a miss for b.n.p. paribas. we will hear from the french leader's cfo. this is bloomberg. ♪ mattguy: welcome back. let's talk about what's happening 30 minutes into it -- it's an fx story. the ftse is that because the pound is down. the continental markets are down because the euro has just spiked up, though not against the

should greece be in the eu? >> woman 4: here for the people in greece it is a feeling that "oh, if we go out of the european union we are lost." we are as people ready to risk to go in another direction because this direction doesn't work for us. >> anthony: nobody's suggesting we return to an agrarian wonderland where we are all going to farm together and live in a commune, right? >> woman 1: why not? >> anthony: you like this idea? >> woman 1: yeah, why not? >> woman 3: some of us will, some of us. >> anthony: if i put a yogurt in the refrigerator, and i put my name on it, "tony," and someone takes a bite out of it, i've got a problem. >> woman 4: really? >> anthony: yeah, this is why i don't live in a commune. >> woman 1: because someone will -- is taking my yogurt? >> woman 4: yeah, but if you didn't have a yogurt you would like to eat from someone else's. >> anthony: and i will. [ laughter ] [john] what if instead of waiting weeks for your tax refund, you can get an advance on that refund? [zombie] an advan

they want greece to accept this in order to unlock the latest payment of funds to help greece make it payments in the summer, because if they do not, then we are back in this old greek races thing where we take it right up to the limit and greece cannot pay its bills, so they want to get that out of the way early. matt: are we getting close to a solution for the next this person rent of emergency loans? is there ever going to be a time when we do not? when the boy who cried wolf is right about greece? people in thethe corridors in brussels and various capitals around europe, and they say it does not look like we are ever going to find a solution. this is going to go on and on for years and years, but all that can be approved is greece's as greece'sy -- economy slowly improves. one, there is a massive row going on between european creditors on the one hand and the imf on the other hand about the strength of the greek economy and a must they agree, the imf is not going to take -- and unless they agree, the imf is not going to take part. the other variable is what you were talking about

greece must agree a deal or risk triggering a euro crisis — that's the headline in the business section of the telegraph — referring to the country being under pressure to bring in further austerity measures. a strong message from the uae's prime minister as the world government summit kicked off in dubai. the gulf news reports on shaikh mohammed telling the meeting that the uae will not tolerate any kind corruption. the financial times reports on voters in switzerland rejecting a plan to reform the country's corporate tax system. and emma stone appears on the front of some of today's papers, including the independent. she's won a bafta award for her role in the film la la land. the film also won four other trophies — including best picture. still have not seen it. joining us is nina trentmann from the wall streetjournal. china willing to do more but in south korea, you were there when they carried out a miss out —— missile test? when i was in south korea, just because of proximity, 60 kilometres, and everything from pyongyang does reach seoul and i find it interesting that four

start with you on greece. what are the chances that actually they leave the eurozone within 12 months? neville: i think they are pretty low. i think the market is going to worry about that prospect over the next couple of months. in 2015, the critical data is the middle of july, when 6 billion of government bonds fall due. if they don't get a bailout by then, that is when you will get your sort of grexit. the issue this time around is that the standoff between the creditors and greece isn't quite as severe as it was in 2015 and the greeks are much more likely to acquiesce. for us, the big debate is between the imf and the european commission in terms of getting a deal that is appropriate to both of those. we can't see both of those effectively have a standoff that will drive greece out of the euro. it has got further to run. there's not enough risk priced into bonds at the moment. ultimately it will probably abate. francine: let me bring you to my bloomberg screen. this is the greek two-year yield. i think i w

our producer stephen says it you are an expert on greece. laughter let's talk about greece, ministers from the eurozone meeting yesterday and talking about a stand—off this agreement. what is your take? perhaps there has been some progress. people in greece feel they have been sold out little bit but in the eu, a fall of austerity for some reform. labour market reform, potentially pension reforms. what these reforms tend to mean is that perhaps people have to work longer before they get their pensions. of course, greece does need. 7 billion of byjuly otherwise it cannot pay its debts. clearly it is a heated debate. it is quite a tricky time and it is never easy with greece but right now, germany has an election in the autumn and so to be handing out more money to greece from the point of view of the german voter is not to be palatable. and debt forgiveness is also less palatable. the imf have been calling this for years. the german and the european government do not admit to that. angela merkel said that it may be on the agenda after the e

the best that has coming out of the meeting for greece's bailout orders will return to athens and greece has agreed to legislate reforms from 2019 onwards according to greek officials. this is bloomberg. ♪ . . mark: it is 11 a.m. in london and midnight and hong kong. i'm mark barton and this is the european close on bloomberg markets. we are going to take you from london to mexico city and berlin here on bloomberg television. here are the top stories we're following on the bloomberg and from around the world -- shares of unilever leading declines on the stoxx 600 today after a potential did by craft heinz fell apart over the weekend. this may not be the end of the road for a potential takeover. i will speak to the eurasian group president, ian bremmer, about nato and the transatlantic relationship. also this hour, an interview governor of and go to mexico and a leading candidate to take over later this year.

we will talk about the risks in greece. it is a gray day in london. ♪ manus: technically it is less than one minute to go until the start of the european trading day. let's look at the futures. asian stocks did quite nicely. again, it looks like a strongish kind of open for the european market. and there is discussion in la republica that junker might indeed stand down. that is one of the stories we're looking at. from the corporate side, undoubtedly, it is the bovis homes missing on numbers. the unilever is falling apart with kraft. despite that falling apart, the stock is indicated down 10%, 7277 in london. the dax come up 0.8%. the french market is down by over 1%. so, these markets have a lot to contend with and political risk is rising. the french election has been blown wide open. this is how the european stock market is opening. we are just waiting for the for few to go through. we are a little higher in london at the moment, as a huge number of banks dividends went through -- of ex-dividends went through on thursd

news from greece. but now we are having news from france and from italy. it is right at the core of the eurozone. if that newsbreak seen in the negative direction, it will have consequences. breaks in aews negative direction, it will have consequences. we have an insurance mechanism that holds the eurozone together. that in charge mechanism is resting on some degree of political consensus. if that political consensus breaks down, the insurance breaks down, we will have big problems. tom: jens nordvig, thank you so much. we will continue with abby joseph cohen and move to a focus on japan. this is great new technology. you can get my actual charts out or you can bring them right up here, bring up the previous segment. there is jens nordvig. . this is bloomberg. ♪ tom: good morning, everyone. sheila smith joins us now, with the council on foreign relations. today will be remarkable. here's a winter image -- the ,omb of the unknown soldier looking out over the snow and the silence of that magisteria

there isa losing confidence in greece. there is a row between the eu and the imf as to who will actually showed the losses the greece will impose and the timing of this means that it is particularly tense because ahead of the dutch and french elections, there is a lot of very tense politics and the eurozone. if the idea spreads that they may actually let greece go bankrupt, there will be fears about other countries going bankrupt. the eurozone will have lots of turmoil and contagion. high—stakes lots of turmoil and contagion. high—sta kes stuff. lots of turmoil and contagion. high-stakes stuff. normally, we get toa high-stakes stuff. normally, we get to a cliff edge and in the 11th hour, a deal is done. you might feel you are over the hump and not at all. angela merkel gets tough on asylu m all. angela merkel gets tough on asylum seekers is the picture on the ft. another asylum seeker story. this is that increased cash payments says the ft for those leaving germany voluntarily and of repatriations germany voluntarily a

whereas greece at the moment? well, 25 or 30% shrinking of economy, you see real fallout. 30% shrinking of economy, you see realfallout. pensioners who 30% shrinking of economy, you see real fallout. pensioners who are really struggling, people are going through their savings, which doesn't help. and let's not forget they have a huge number of immigrants. they have a huge number of immigrants to deal with, and so you have cypriots trying to fight it for the greek people, and then you have the imf and europe, and the imf being a little more stringent than europe, but you don't know what will happen. also, trump comes in here again, it is he can actually block decisions of the imf. if the imf wants to be more lenient, he can block it. because the imf has been more friendly to greece. they want a restructure that debt, and greece would struggle to pay it back in the current form. and europe has been tougher. europe has been tougher. the seniors, europe, you have to see, is also driven very much by mr schauble, the ge

the latest on greece's debt crisis. >> built like a cut from the greatest list of business news. greece scrambling to meet an agreement with its creditors and head of the euro finance ministers meeting on monday. the country could be heading for default once again. it needs to unlock the next trec h of its next bailout in 2010. >> for months athens and its monetary fund flinders have failed to agree on the latest terms of its $86 billion -- 86 billion euro bailout. >> a compromise must be reached without any additional burden and without more cost to greek society. that means reaching an agreement without a single euro more of austerity measures. >> public-sector cuts have led to enlist protests in greece. farmers last month flooded the capital to demonstrate against government reforms they say will decimate their sector. eu top economics official met with prime minister alexis tsipras in athens in a attempt to end the standoff between greece and its international creditors. >> no institution must advocate for austerity but as you said there needs to be a balanced set of reforms

greece's debt crisis returns to haunt europe. can its lenders agree a new deal, or will we have to add grexit to brexit? and we'll tell you why some solid numbers from china continue driving the markets higher. and those trump promises pushing wall street to more record highs. and as president trump orders a review of the financial rules designed to stop another nightmare on wall street, we'll be getting the inside track from our economics editor kamal ahmed on that and the rest of the stories he's been covering this week. as snow hits new york city, how much do you think it costs to clear an inch of the white stuff off the streets? one dollar? one hundred dollars? a million dollars?! we'll give you the answer at the end of the show. just use the hashtag bbcbizlive. welcome to the programme. we start in the us where, as you've been hearing, japan's prime minister shinzo abe meets president trump later. trade will be high on the agenda. remember, one of mr trump's first actions as president was to withdraw from the 12—nation tra

guest: the last chance again for greece. the only thinge that the eurozone finance minister could agree on is for the return of the bailout -- bailout. greece is racing against time because you have these elections coming up in the netherlands and france. even though we have elections coming up. doesn't mean we can't find out a local solution for greece. >> they'll a always pose a problem when trying to get good decisions. from the other end we should not be -- we should not take another look to find solutions that are not really solutions. there are elections coming up. steady and well reasoned. reporter: the return was seen as positive by investors. we saw a two-year bond yield falling on this news. the possibility of a false bailout for greece. --. they have to pay as much a 6 billion -- euros. a fourth bailout seems to be a increasing possibility. hear --anna:nt to what extra efforts are being demanded of the greek government? >> the creditors are on the same page. demanding more measures for after 2018. when the current

it means we are talking about trouble in greece. give us the state of play for people who have not had greece on their mind. what is the synopsis of what is happening now? nick: two-putted as deeply as possible, the imf's meeting to discuss whether it wants to continue to be art of the greek program. what we have at the moment is a kind of mexican standoff with the imf saying to greece, we don't think it needs more surety. it needs more debt relief. the european debtors said we are not really willing to give that the moment. the imf says i will go to greece thingsed for for more that need to be done. that is tax and pension reform. those are top picks in political terms in greece given what has gone on over the past two years all the parties are trying to find a way to comedy each other and come to a compromise. joe: all of the things you just said, i am wanting more measures from greece, the imf wanting debt reduction, the european partners not wanting to give that, it all sounds like the same stuff we have been hearing for years.

. >>> greece is the word on everyone's lips again. germany and the imf weigh in on the debt crisis once again. all that and more after this. >>> the british parliament voted by 494 votes to 122 to approve the government's brexit bill unamended. this grants theresa may the authority to trigger article 50. shadow business secretary clyde lewis resigned from the cabinet after voting against the movement. reports suggest may could trigger article 50 on the 9th of march. >>> there's been market chatter relating moving big banks from london in a post brexit world. the ceo of barclays said that while lots of negotiation is still to be done. london remains the financial hub of europe. >> today the capital market center of europe is clearly the united kingdom and london. and there's a lot of things to be negotiated, brexit brings up a lot of complex issues. i don't think the european union will go close to cutting off its access to the capital markets oxygen. >>> and goldman sachs is moving from london to the united states. it manages about $3

since an 80d a half million bailout agreement, greece's style higher -- greece's skyhigh debt increases to worry lenders. wondering if they will be able to stick to their commitment to finance greece amid growing eu sentiments. >> support is not unconditional. it depends on commitments to reform, it depends on implementation, it depends on targets being met. insists greece is that can be paid back. but the imf have maintained that budget targets will be impossible to achieve and lenders should offer at least partial debt relief. greek prime minister alexis the progressded made by the greek economy. avoid ouranage to backs being against the wall, this is due to the fact that we ended 2016 with growth while everyone was forecasting a deficit, including the imf area -- imf. reporter: greece doesn't retain a major deadline until -- all sites prefer to have an agreement before elections in france, germany, and the netherlands later this year. >> moving on now, who knows if profit surged in 2017. operating profit increased to 2.3 billion euros. the world's largest steel maker has returned to

greece's collateral damage isa war crisis. greece's collateral damage is a war between two politicians, angela merkel and the imf. some interesting thoughts, something has to give and the creditors are starting their work tomorrow in athens. we'll bring you more news on that when they get to some kind of resolution. an american man accused of murdering an indian immigrant, after reportedly shouting "get out of my country," is appearing in court in kansas today. police are investigating whether the shooting was a hate crime. rajini vaidyanathan has travelled to kansas to meet family and friends of the victim, srinivas kuchibhotla. the message and this vigil, stand by everyone. “— the message and this vigil, stand by everyone. —— at this vigil. people from all faiths and communities came here to mourn a man who lived and worked in the city. 32—year—old srinivas kuchibhotla was an engineer who moved to kansas from india. after work last week he went for a drink with his best friend when a man approached their table. h

>> after greece concludes the review in the next month or so the ecb includes greece in the quantitative easing program. this should allow them to come out of the market in the second half of 2016, issue a bond, and return back to market since the last such bond in 2014. >> sounds easy when you put it that way. >> i think there's a number of hurdles to pass until we get there. we will probably get there. the question is is that enough to ensure that by the end of the program 2018 greece will be able to fully finance its markets. there i'm less optimistic. i think >> reporter: also today, the there will be a need for a follow up agreement. a follow up program, if you will. possibly with some sort of credit line. and some money on the side. it's hard to see at this point how even president's new national in that best-case scenario greece will be able to fully finance itself in the markets from mid 2018 on. the critics would say here we are again with a great crisis. we thought we got past it. we had so much work done in brussels, but it feels like if you dive below the surface nothing much

.n greece the former fin

i think for greece growth has been positive despite all the pain. i wish we had been better prepared before we came into the eurozone in 2000 and i wish we had done the kind of necessary transformation after we came in. the fact was greece could borrow at the same rate as germany on the market and the markets blindly offered funds to countries with very different risk profile is assuming that in the eurozone eve ryo ne assuming that in the eurozone everyone was the same. but we were not. but the great tragedy as it became along with the crisis in other countries in the eurozone, that for some people in this country helps them realise that perhaps the eu was not for the uk and helped propel the country towards the vote to leave. i wonder if it was the eurozone troubles. one part of it. my eurozone troubles. one part of it. my sense is that the uk participating in the eu was never wholehearted. there was a sense of distance and not just wholehearted. there was a sense of distance and notjust did —— not just geographic but a distance from the rest

he is visiting greece today to talk about the country's debt problem. he's trying to break the deadlock over the release of a further bailout. athens and its international creditors have been wrangling for months over the issue, and failure to reach agreement has spooked the markets. not only that, but yesterday it was revealed that the greek economy unexpectedly shrank in the last three months of 2016. i don't know why they said unexpectedly, but anyway. so, what options does the country have? greece is now under increased pressure to step up its economic reforms, including on painful things like cutting pension payments and raising taxes. meanwhile, the international monetary fund says greece needs more money, more cash in order to get its economy back on track. but that's not going down well with the eurozone, laughter suprise, surprise, which says it's already done enough and it's already written off enough greek debt. the greek government faces debt repayments of $7.1; billion this summer. and they can't afford those payments unless they meet the c

manus: let's talk about greece. creditors may present a framework of measure for completing the country stalled they'll let review. that is according to two people familiar with the matter who say it could happen as soon as today. anna: the deadlock raising doubts about the nation's ability to repay debt due in july. not all along the same pace, the imf wants one thing, europeans one another. the germans, certainly. the solution for greece lies not in additional debt relief, but in the government implementing citing to avoid delays, ireland and spain. where do we go in this game of poker? to maken needs decisions right now. on one hand, they are adamantly opposed to debt relief, but they need the imf. they need them on board. , the a sign of credibility international process to support the greeks. it is an election year, so the left and the right in germany really concerned about some of these bailouts in the last few years or so. angela merkel is under pressure right now. manus: the greeks think they have europe by

. >>> from greece to france to italy. is there potential trouble brewing in pueurope that had investors need to be aware of? good to see you. let's start with greece. there is a large debt payment. we've seen this movie before. >> we certainly have. >> are we going to see a repeat? >> that's the concern. because we've seen what happened in the past, this decision has prompted a lot of concern. here's the update. so far greece and its investors have not been able to see eye to eye on the bailout. greece, the government there is coming back saying we want to step away from austerity to see an economic revival. all this is happening before the sum where one of the biggest debt payments is due. about 7 billion euros. we've seen these negotiations take place until very last second and that's a big concern. >> a little further north to france. we've heard about brexit. there's talk in the market with a frexit. brexit followed by trump's victory. the question is whether france there, the national party who has been campaigning f

the release of the bailout loans depends on greece and its bailout agreement. that will be tricky, of course. you can see they have already implement it reforms and so far they have not been popular. -- implemented reforms and so far they have not been popular. >> the acropolis was closed to tourists after a strike overpayment. -- overpaying conditions. the government has renewed international pressure from creditors. soon, inspectors will be returning to athens. >> they will work with the greek authorities on an additional package of structural reforms, looking at the tax system, pension system. also, labor markets, regulation. there will be a change in the policy mix, if you will, moving perhaps away from austerity and putting more emphasis on debrief. i think that is a good step. >> it is a step aimed at getting greece back on its feet. it is due to repay millions of euros in loans this summer, but cannot shoulder the burden alone. the german finance minister believes that athens is on the right track. >> in spite of that, the greek economy has developed in

greece. the country beat its 2016 fiscal target. achieving a budget surplus of 2.3% of its gdp. the e.u.'s top economic affairs official said the figure sparked hope but cooperation remains crucial. >> looking ahead, continued good performance, crucially hinges -- we're working intensely to compete the second review, and we should do that on the basis of the right figures. >> in athens, greece's central bank chief pushed for a speedy agreement with international lenders. further delays in the conclusion, beyond the current month, would lead to a new cycle of uncertainty. make reaching a deal more difficult, and undermine a projected economic recovery. he's expected in athens on wednesday to help those review the reforms for lenders. meanwhile, they are also locked in a dispute with international monetary fund over the health of the greek economy. the imf isn't party to the country's current bail-out. and says it cannot participate in a program which could keep greece in a never ending cycle o

that is what happens every time we get this situation with greece. it will continue to happen until greece finally does go bankrupt or the euro falls apart. there is a focus on that. what is different to any other time was that with donald trump in the white house we are far more focused on the white house and what comes out of it, more than we ever would be. we don't normally care about politics. but with trump in the white house it is the uncertainty which causes so much movement. with trump in the white house it changes the way traders work, you said, how has yourjob changed since he has become president? we are looking at twitter all day long instead of the markets. those things are driving us. your daily could be quite regimented. you would look towards the economic calendar, what is coming out of the us, out of europe, but now, we know trump wakes up because he sends a tweet first thing. from there until the end of the trading session, or until he goes to bed, we know that anything can come out. at the moment markets are latching onto everythin

greece's debt crisis returns to haunt the eurozone. can its lenders agree a new deal or will we have to add grexit to brexit? a federal appeals court in san francisco has refused to reinstate president trump's ban on travellers from seven mainly muslim countries entering the us. it unanimously rejected the administration's assertion of presidential authority and questioned its motives. the ban was suspended last week by a judge in seattle after two american states argued that it was unconstitutional. moments after the ruling was released president trump responded defiantly, tweeting: "see you in court, the security of our nation is at stake!" and a little later he had this to say about the court's decision. it isa it is a political decision and we are going to see them in court. 50 are going to see them in court. so you believe the judges... are going to see them in court. so you believe the judges. .. we have a situation where the security of our country is at stake, and it is a very, very serious situation. so we look forward, as i j

>> if greece paying nothing back in july? wolfga wolfgang schauber said there is can be no default in the eurozone, so that would mean greece would have to leave the eurozone. if they were not to pay those bills, that would be difficult to gloss over as the same way they did when greece was late paying the imf. james, good to see you. >> good to see you. >>> coming up here on "street signs," a blow to the president as trump loses his first cabinet pick. more on the withdrawal of the labor secretary nominee after the break. you can find us on twitter, @louisabojesen, and on e-mail, streetsignseurope@cnbc.com. >>> hi everybody. welcome back. you're still watching "street signs." president trump's nominee for labor secretary has taken his hat out of the cabinet ring. on the eve of his confirmation hearing, andy puzder withdrew his name over fears he wouldn't get enough support in the senate. peter alexander has more. >> reporter: president trump's pick for labor secretary andy puzder no longer up for the job. in a statement anno

more deadlock for greece? >> this was supposed to be the last chance again for greece, and it is another deadline they missed. this is now more than one year behind schedule. finance ministers could agree on is for the return of the bailout auditors in the next few days, probably next week. greece is racing against time because you have these elections coming up in the netherlands and in france, but all the finance ministers tried to play down the political risks, the delays increase the possibility of a bailout program needed for greece because they have to pay inmuch as 6 billion euros maturities in july. japan's january trade data has disappointed with exports growing by just 1.3% from the year earlier against forecast of 5%. should we consider these numbers a blip or is it a bigger trend here? >> it is hard to make a judgment right now. the exports to europe and the u.s. were weaker than expecting. fall in carg exports to north america and the eu. theother side of that is chinese new year happened at the e

in iran, greece. he has been assistant secretary of state. in 1948, when congress decided we out to have a overseas information program on permanent basis, mr. alan was put in charge. last fall the president decided this important activity needed mr. alan again. he brought him home from overseas and made him director of the agencies. mr. alan attends the meeting with the cabinet and the national security council. everything the other side says is propaganda while we call what we say information? >> the word propaganda has taken on a bad connotation. it was originally a good word but it brings to people's minds now the idea of twisting or distorting the truth or manufacturing falsehood. whereas we try in our service out put to -- thank you, a factual presentation we can we feel it's information and should be labeled that. and not called propaganda. >> i want you to give us an example of soviet propaganda as applied to the armed services which she's gentlemen represent? >> i have today with me a book that the soviet government puts out in for t

perhaps i was in greece at the 25,000. time myself, and there were about 200 greek young people who went to the soviet union for that festival. many were just going for the ride. it was a chance to see the soviet union. as long as the soviet government would pay all the expenses -- in that case, the soviet government took a young man from greece and took him to the soviet union, kept him there for a month in good accommodations, traveling around the soviet union and took them to the finest performances, the opera and so forth, and back to greece, all for the equivalent of $50. they use international fronts which is youth organizations that do not admit they are communist, but they are infiltrated and run by communist hard-core organizations, who throughout communist propaganda throughout the world. through those means, they throw out their propaganda into the non-communist world. as an example of the way they do, in a totalitarian state such union, they have complete control of all their means of communication. and they ca

i can say if there is a place you want to be with that condition it is greece. they had amazing medical care and showered her with love. that little girl pulled through and the entire population of greece wanted to adopt her and doa is recovering in another hospital meanwhile. she is getting messages from all over like have you seen my brother and then a message came from the little girl's uncle and it said doa, i think you saved my niece and he attached a photograph. the uncle made it a year before with masa's older sister to sweden. same route. his family was following. he was able to take her to sweden and she is living with him. doa, the press attention to her made its way to egypt, and those smugglers starting showing up at her mother's door and saying i know the names of your daughters and threatening. tell doa to stop talking. it was menacing and scared. doa's sisters were afraid to go to school. unacr, when refuges are vulnerable, they have his mechanisms called resettlement and we were able to make the case that doa wanted to go to sweden and unify with

there are many more stuck in greece who are penniless. and who are very despairing of what is next. >> -- worked well in that she managed, because she described what has happened to her, her family in egypt. >> yes, they say she started à you can imagine the media attention when the press learned that there was this rescue. and there was a young 19 old woman in a small 18 month old baby, who had spent four days on the water and managed to survive when 500 others had died. and the little girl was taken to a pediatric hospital.the doctors, who i spoke to, they thought she was on the edge of death. and she was not going to pull through. if she does, maybe brain damage and but i can tell you, if there is one place you want to be if you are in that kind of condition, it would be greece. because those wonderful doctors and nurses, they not only have fantastic medical care but the shower her with love and they were hunting her in singing to her all the time. and that little girl pull through. the entire publishing of greece i think wanted to ad

would greece be prepared to take more austerity? >> the germans and the euro group are talking about a target over the next 10 years of 3.5%. >> is that realistic? >> i don't think it is. it is doable but at a huge cost to the economy. do you give the economy room to get out of the slump which has been there for 70 euros -- seven or eight years? ford you insist -- or do you insist on a hard target? on this i think lower would be better for the economy for everyone concerned. the euro group has signed on an agreement for 3.5. the prime minister, and they do not want to change it with elections coming up. the dutch and german election. that is where we are stuck. at the same time, the germans would like the i.m.f. to stay in the program. you cannot have it both ways. you cannot have the i.m.f. in the program without accepting what they are proposing. view is theist greeks cannot pay or will not pay with a huge amount of taxes not being paid. and this is the craw in the germans' throats. can't or won't pay. >> this is not a populist vi

but greece will be back in the spotlight soon? it has a big debt repayments to pay back injuly, tonnes of european election is going on and european election is going on and european governments don't want to do any type of consolidations or anything on their debt, they want them to pay back their debt, get the imf is going against european authorities and saying, you have to do because there is no way they can grow themselves out of this crisis, you have to reduce the debt you want back, give yourselves a haircut otherwise the debt level will not be sustainable. this has been a problem 110w sustainable. this has been a problem now for seven years, where they have been not growing very well and in massive amounts of debt. they will never pay that back but because of all the elections in europe, no—one in europe wants to say, actually, let's be realistic and cut their debt levels. they all want to say, no, you need to pay us back otherwise we might not get elected in france in may or germany in september. and if you cut the debt

and tell us some of your stories. >> so, i was volunteering in greece for two times. the first time, i came back to israel actually, and, unfortunately, tragedies happen there on weekly basis. and the most devastating one happened on the 28th of october, when two boats started to sink at the same time and more than 70 people drowned. many of them were kids and babies because they're the ones who are not able to swim. and that occasion made me decide to go back for the second time. so i have been there for almost two month, and our team of israaid -- doctors and nurses and social workers -- are there for already six months now. >> wow. dr. david, you are on sort of a cross-country tour with your colleagues who are involved in israaid. what do you want people to know about what is israaid, and what is it doing? >> well, israaid, first and foremost, is a humanitarian assistance organization with israeli volunteers. they work all over the world, not just in greece, not just in europe, not just in the middle east, but also in japan and even in the united states with hurric

in critical periods he was assigned to frontline ambassadorial posts in iran, yugoslavia, india, and greece. he has been assistant secretary of state of the near east, south asia and africa. in 1948, when congress decided we ought to have an overseas information program on a more or less permanent basis, mr. allen was put in charge. last fall, the president decided that this important activity needed mr. allen again. he brought him home from overseas and made them director of the united states information agency. mr. allen attends meetings at the cabinet and the national security council. mr. allen, why is everything the other sites as propaganda , why don't -- why we call everything we say information? >> the word propaganda has taken on a bad connotation. it was originally a perfectly good word, but it brings to people's minds now the idea of twisting or distorting the truth, or even manufacturing complete falsehoods. where as we try in our service output to give as factual presentation that we can. we feel that his information and should be labeled as such, and not called propaganda. >>

there's widespread anger in greece at their demands. the american company spacex has announced that two private citizens have paid to go on a voyage around the moon next year. if it goes ahead, humans will be returning to deep space

critical periods, he was assigned to the frontline ambassadorial posts in iran, yugoslavia india and greece. in 1948, when congress decided we ought to have an overseas information for a more or less permanent basis, their allen was put in charge. last fall, the president decided this important activity needed mr. allen again. he brought him home from overseas and made him director of the united states information agency. mr. allen attends the meetings of the cabinet and the national security council. mr. allen, why is it everything the other side says is propaganda when we call it information? >> the word "propaganda "has taken on a very bad connotation. it was originally a perfectly good word but it brings to people's minds now the idea of twisting or distorting the truth or even manufacturing complete falsehoods. where as we try in our service output to give as straight factual presentation as we can, we feel that is information and should be labeled as that, and not called "propaganda." >> could you give us an example of soviet propaganda particularly as applied to the armed services, w

leader inans for the his bid to retain power in greece. this is bloomberg. ♪ >> today, on behalf of president assurancering you the that the united states of america supports nato and will not waiver in our commitment to the transatlantic alliance. for him to commit to our shared values. this was very reassuring. is no doubt to the commitment to the military alliance and i am not in doubt to their commitment to the war on terror. got to see the vice president at that time and i heard a lot of the comments when i was in washington. it is great to hear him repeat that and for everyone to hear is u.s. commitment to nato going to continue. good speech, in terms of reaffirming commitment to nato. people come to me to talk about it and they want to see what they actions are. generalthis will be the measure, in terms of statements made and how they are reinforced. from keyare words players at the security conference, as the world reassesses the u.s. role under a trump administration. there is a new addition of daybreak. let's see what is hittin

greece coming under pressure as cracks emerge in the relationship between greece's government and its creditors. should investors be worried? this is bloomberg. ♪ tracy: welcome back. you are watching "bloomberg live fromddle east," dubai. i'm tracy alloway. yousef: i am yousef gamal el-din . speaking ingarde is dubai, saying the fund must old resilience among global uncertainty. she says she does not see oil prices returning to pre-2014 levels. that is a key line there. lagarde is also saying the low oil prices are still affecting growth and government revenues. sort of a reality check then, isn't it? tracy: interesting. a lot of people would argue the opposite, that low oil prices are good for economic growth. she is also saying that exporters need to lower taxes and diversify sources of revenue. this is a theme we are very familiar with here in the middle east. let's expand our horizons a bit and go over to greece. there is, of course, pressure to meet a february 20 deadline to complete a review of its bailout terms. there is a chance they will miss it, setting the stage for pote

greece's debt reaches maturity in july. euro minister is what alexis tsipras to call for early elections if the deadlock continues. number news, paris. joins us.ry dugan greece coming back to the forefront. is this point to drag on like it did last time, or do you feel more confident and how the process is going to evolve? no confidence. no confidence. it will be the continued bungling through. as long as they keep going, people will believe that there is a solution eventually. tracy: the other thing happening frenchpe are the looming and dutch elections. no one wants to be priced burned, writes? you had donald trump, you had brexit. no one wants to discount the possibility of a le pen victory. is it prudent to be hedging for that ultimate tail risk? gary: i think it is prudent to be hedging. as someone who used artificial intelligence to look at the voting that is in france, it says that le pen will win. looks to only be 15% possible could be 100% the outcome. that could be even more damaging than what we saw either from t

it paints a genuine, real money that greece have to find going forward. i would think the imf links. -- blinks. i think they will need to be on board for the eu to continue this pursing those funds. you have french, german, dutch elections. you don't to scare the horses at a time of a have brexit on their plates as well. you don't want to see greece being talked about as a potential leaver of the euro again. mark: thanks for joining us. --omberg: is mark gilbert bloomberg columnist mark gilbert. stocks are rising for the third day. this is bloomberg. ♪ ♪ live from london and new york, this is the european close. stocks finishing the thursday session with all the one industry gaining, food and beverage out of the 19 that's falling today gaining for the third consecutive day. health care, telecom, and utilities. utilities are a bond proxy today. that's the situation of the stoxx 600, the best run since january 26 busy day for banks today. italy's biggest bank recorded its biggest fourth-quarter loss of 13.6 billion euros. italy's biggest publicly traded