Is greece out of the eurozone . We may be closer than ever to an answer. Athens sent a request to the European Union to have it loan requested extended by six months. The reaction from berlin was no. The german finance minister said the request lacked a proposal for a solution and accused greece of trying to keep the bailout without meeting the terms. There is only a week left until greece defaults on its debt. It was a previously unthinkable move. In accepting continued supervision by the ecb, imf, and eu the greek government recognized financial obligations to its creditors, but in talks to eurozone finance ministers athens called on its partners to show understanding for the countrys financial difficulties. I believe all the conditions are there for a mutually beneficial solution tomorrow. And i believe this will be the result at tomorrows euro group. If any case, if there is a negation of this huge effort that has been made, each person will have to take responsibility. But in a fr
He says when the program is up, there is nothing in place and that is the only option. Tom the greek spreads have widened. In the last 20 minutes we got the new idea of greek spreads widening. Olivia i wish you were hear to go through the churn. Two year yield that 23 . German debt, 10 year trading at 0. 09 . That is unbelievably low. The average yield on german debt is negative. Who are you looking forward to speaking with . Tom madame lagarde in our 10 00 hour. Before that ken rogoff of harvard, jacob frenkel, formerly of the bank of israel and now at j. P. Morgan, in moments, a conversation with john lipsky of Johns Hopkins. Olivia speaking of washington, d. C. , yesterday on capitol hill, a surprise raising concerns about the security. A gyrocopter landed, the pilot was arrested. The Tampa Bay Times reports that the pilot was a 61 euro postal worker who wanted to deliver a message. His act of civil disobedience was in protest to Campaign Reform laws. A friend was worried he would g
Economic data. We have the Business Climate index falling to 108. 5 points in the month of may. That is versus a reuters consensus photograph for 108. 3. So slightly higher than expected. Its still a drop for the month of april. Thats when we saw 108. 6. A bit of a move in the euro hitting the days high. Lets look at the other data coming out, thats 103 in the month of may versus a consensus photograph of 103. 1. Thats shy of forecasts but the headline index is better than expected. We did have the index earlier this week some what disappointing. The pmi leveling off. Is this a sign of germany cooling off or seasonal factors in play . Overnight the German Finance Ministry came out and said were still expecting growth to pick up for the remainder of the year and they still have more than 1. 5 . Lets get to annetta who is live. Thank it away. Well thank you very much. Of course growth and unemployment and inflation are the big topics here and im joined by the chief economist at icd. Was
And look at confirmation of the feds decision to taper its Bond Buying Program. Hello. A warm welcome to todays edition of on worldwide exchange. Theres some 50 ipo ons that are going to list in china this month as the end of beijings freeze on the offerings comes to an end. At 10 45 cet, persimmon announces a 28 jump in full year revenue. Are the policies of the British Government constructing a profitability 2014 for the nations House Builders. And a very happy birthday to king jong un, or is it . Well be joined by a guest who says it doesnt matter what the north korean Supreme Leader was born. China is looking at new ways to control the situation. Finally, will investors be raising a glass to conat the lagz brands . Well be joined by an analyst who says we should expect another strong set of numbers from the company. If you have any sorts of comments, email us, worldwide cnbc. Com is the address. First, u. S. Treasury secretary jack lew is continuing his European Tour with a stop in
Oil supplies. Gdf falls to the bottom of the market. Trader say the sale rose 1. 5 billion euros. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. A warm welcome, again, to todays worldwide exchange. Some interesting news in the market yesterday. Selloff in the u. S. Market. Wall street. Can we call. 7 a selloff . What i found surprising was that the markets didnt react to the robust Economic Data as it was in the back with mirrors, lagging indicator, oil remains the big headline risk. Maybe they did react to the data, sri. Maybe were back to good news is bad news as far as the fed is concerned. Supporting consumer housing data, Consumer Confidence. Maybe this is the start of a good news is bad news. Like parting a baby from its candidate. You could say that, but the price of oil, i think, is going to be a factor that we continue to watch. The situation in iraq, headline risks from the oil market, is it going to be, though, the catalyst tha