Capital grounds. Hello, a day after greece voted to reject the european bailout, the banks are close to collapse. Lenders will remain closed on tuesday and wednesday. And restrictions on wrawms will continuewithdrawalswill continue until then. German chancellor Angela Merkel is meeting with Francois Hollande in france. We expect to hear it shortly. And a new minister is be replacing Yanis Varoufakis. Jointly declaration in support of talks aimed at at an aid deem. Lets have the latest from jonah hull. On this day there is one sentiment above others on the street. Im proud of my people. I feel proud for my people. But also confused. Because we say no to the proposal of europe. We want better proposal. Reporter but pride in greeces defiance of its International Lenders isnt enough to avoid the fall. The banks are still shut and without more Emergency Assistance from the European Central bank theyll likely remain so. The 60 euro per person per day limit may have to be reduced as cash rese
The least we can say. So that they can remain in the euro. With a program which is sustainable. Because greece needs sustainability. And stability within the euro. We have thus before us a suvment tomorrow and it is up to the heads of state and government to define a position on the basis of the presentations by greece. This is an emergency for greece and owrp, a europe. This is a question of dignity as well. Urine is confronted by this responsibility. It is not just an economic financial monetary construction. Europe is an ensell enbl ensemble of the world. On freedom openness but also respect. In this europe, there is room for solidarity, solidaritys everywhere in europe and we need more of it even. There is also responsibility. This balance between responsibility and solidarity must be the leitmotif of our behavior today and tomorrow. I would like to thank angela for coming and give the floor to her. I am here with a lot of pleasure here today in paris. We do respect the decision by
Equities market. Anna a warm welcome to countdown. I am anna edwards. Reporter and i am guy johnson from the greek capital. Anna lets get you up to speed on what is been happening. Lets talk about what has been going on. We will start with the euro. This is the last three days. Lower at the start of the Asian Session as the Foreign Exchange market picked up. We dipped below 110 and came up in the hours that followed moving a little higher. That initial flight to safety in a number of asset classes, definitely present but moderating a little bit. Looking at some of the other asset classes, you can see that as well. Look at what happened to the yen. Again, flight to safety but moderating a little as we get into our stride on this monday morning. How long will any calmness last in the london session . We will have to see. We may see that flight to safety resume. The treasury yield, another expression of the flight to safety trade this morning. Yield coming down on tenyear treasuries, but
Critical decision on whether to raise emergency funding for banks. Raising the toolbox. Beijing steps in with unprecedented measures to stem volatility. Thus its another erratic market with stocks giving you have gains. And the rolls royce issues a profit sharing. A new style of management. Okay. Lets get straight to having a look at what markets are doing in reaction to this surprise result in the greek referendum as you can see. Predumb pant thatly red in the to the stoxx 600. The declines 1. 2 . Perhaps not quite as big as could have been expected given so few people predicted the results of the referendum. And we had a similar reaction to the markets exactly one week ago after the announcement of the referendum. I guess the markets learned from their experience last week. They saw this was a knee jerk reaction and will focus on the early talks. Meantime, Yanis Varoufakis has resigned as his position as finance minister. In a statement, it states his absence could help the governmen
Country acting like that. Australian sport is plunged into a racism controversy after comments by an olympic swimming legend. Talks between six world powers and iran over its Nuclear Program will go beyond tuesdays deadline. The e. U. s Foreign Policy chief says negotiations will continue over the next few days to reach a possible break through. U. N. Sanctions and an arms embargo are among the sticking points. Iran wants International Sanctions lifted which have crippled its economy. Lets get the latest from vienna. Our diplomatic editor james bayes is there. James theres still talking to be done isnt there . Absolutely. They are still talking. They are still negotiating. But quite a few of the Foreign Ministers are about to leave here in vienna in fact the Russian Foreign minister, has already left vienna and were expecting others to leave. Thats because even though this was the deadline day, as we saw the deadline day one week ago, it has been extended. That announcement was made by