. >> who loaned greeks money? >> who made a huge mistake in lending the greek government money, but now you're having that debt being backstopped. the problem is greece is a small country. the reason the markets keep on rejecting the solution is, even if the solution works, the result is the economy getting weaker and weaker. >> do you think the greeks are correct to riot? >> i was about to say, that's why we see the greeks on the street. they're saying, we get this. and we do not want our economy, our children, the next 10, 15 years to be doomed to subpar growth. that, you know, if there isn't a new solution, which i think there's going to have to be, that's the result of the current deal. >> i'm not so sure i support the greeks rioting in the streets. think you're right, the austerity is toxic for the future, but the greeks are protesting a set of social protections, which are completely out of step with what their country can afford and with any notion of what a growing economy can reasonably meet. hugely bloat

now they're looking up to 70% at 5.5% and a bonus to the barnks f the greek economy recovers. the money market is so low the greeks should get the benefit of the near term shorter interest rate. a lot to decide in the near term. >> the meantime, s&p is warning we could see selective default for greece. then we have the ecb's own president saying don't listen to them for the time being. that's quite important. >> well, this is a tug of war between the credit rating agencies, the ecb, and some of the leaders. she said something very bold yesterday. i'll quote her. don't surrender our ability to make judgments. signaling the ecb that look if the credit rating agencies say it's a default, it doesn't mean we need to accept it. what does that mean? it means the package of the rollover could go forward because the private banks don't want to sign onto something that puts them in default. they have to hold bad credit into their portfolio. it's a standoff between the leaders and what the ecb is going to be doing. he is going to be leaving. a number of question marks. also this question

reasons do with the greek debt crisis. a move away from the partial default. london ftse where banks are affected but not quite so badly as in germany and france up by about quarter of a percent and the losses are 2/3 of a percent for the seger smi. we'll have more of that coming up. >>> in terms of the currency markets, here we are, the main story here is that the euro remains under severe pressure, and i think that currency traders are talking in terms of the picture we've seen in recent weeks on the dollar coming to an end and that the dollar will remain in these kind of circumstances the safe haven currency. so looking at 1.5967. again, the pound under a lot of pressure. the euro, 1.4153 and 80.72. remarket stability for the yen dlafrmt pauline. >> well, charles, it hasn't been a great start to the week so far because in asia it's been a down week start. we've seen a hefty selloff. that's on the back of the dismal jobs rofrmt and yet another inflation rise in china. despite beijing's continued efforts to cool down price rises, especially food prices, china

bailout, putting, of course, that second greek bailout, the greeks say they desperately need in jep different greece for its own part, the finance minister has warned that his country will need the money from that second bailout. it just goes to show you how tight the situation here is in southern and peripheral europe. right now italy, this country, is the one that, of course, has got everybody worried. a lot of people have been saying it could be too big to fail. it's the world's eighth largest economy, very much in the eye of the storm. it may be too big to bail out some politicians and economists to bail out. we asked the head of pimco whether he was worried or surprised italy found itself in this situation. take a listen to what he had to say. >> surprise, no, worried, yes. surprised no, because europe has failed to get ahead of the crisis. when you fail to get ahead of the crisis, it becomes more disorderly and it spreads quickly. worried because italy is very different from greece, ireland and portugal. italy is large. italy is the third biggest issuer of debt. this marks a s

boat refused to turn back, so the greeks called in backup. a team of armed commandos, boarded the patrol boat and aimed their weapons at the activists. >> your mothers don't want you to hurt us. >> from your daughter, from your child. >> reporter: they begged, chanted and sang. ♪ we are singing singing for >> reporter: but the men in black were unmoved, offered a choice, comply or they would take the boat by force. the "audacity of hope" followed the coast guard back to port. >> the confrontation should be with israel on the commandos and not the greek commandos. >> reporter: some of the activists were devastated. others, including pulitzer price winning author alice walker, insisted this was a win. >> i'm feeling extremely happy because i wanted to be sure the people of gaza would know we made a movement toward them. >> reporter: while all of this was happening the greek government, which formally opposes israel's blockade of gaza, announced it would not let the flotilla sail because its mission was too dangerous. the activists say greece

strong manufacturing data and fading fears about the greek debt crisis dide1 manage to hel producee1 hefty gains, between and 1.25% int( the majorr the dow industrial average up the mos+gñ that 6a+. >>>lp in the meantime news that could have bearing on the course of the u.s. recovery.r a cnn source says that the u.s. treasury secretary, timothy geithner, may ber quitting, but notr out the debtrt debacle in washington. right now lawmakers are currently atr raising ey should be the u.s. can t legally borrow. unless they agree to do so soon, the countrye1 could be defaulti on itszv debt. according to the source geithner won't make the decision until things are wrapped up. as for thursday he said he would be doing his job for the foreseeable future in response to the question of what would be coming next for his t(career. >>> in an unconventional election with a politician whoe ñ we focus on thailand. the they're going to the polls this weekend, and there's a lonk shadow over the proceedings.ok the country's restless redt( sht á sitting leader, head of the democratic party there.xsmj

watching the return of the greek crisis many people in america are wondering, are we next? will america face the same financial disaster that the greek government faces with a soring deficit and debt, markets that have lost faith in it and a downward spiral of budget cuts that further depress the economy? it might. but let us understand something really important. america stands in a fundamentally different place than does greece. greece has two problems. first, it has a big budget deficit and markets have lost faith that it can ever repay its loans. second, it is an unproductive economy and cannot generate enough economic growth over the next few decades. in economies, degree has a liquidity problem but also a solvency problem. the united states, by contrast, does not have a solvency problem. the american economy remains one of the world's most competitive with many of the fastest-growing companies in most of the advanced industries. it houses the best capital markets in the world, the greatest universities, the most dynamic society. america is demographically vibrant than

. >> is god a greek god? i'm wondering which greek god is god? >> it gets back to the -- we can go back to the whole mythological issues. this is a warning shot over the bough of our own debt situation. it's hard given the backdrop of the unemployment situation in the u.s. the austerity measures, we've got this political situation where we all want austerity, we know we need to get there. we don't want the riots in the street. we want to make a choice on this, not be forced to do it like we see in greece. but on the other hand, how many politicians want to go back in august with blood of austerity on their hands. >> let's bring in jim. alan greenspan expressing his fear on what a default in greece would do to the united states. greenspan and others say, it could mean another recession. >> it could. but it wouldn't be in a direct way. unlike a lehman which sort of toppled the whole world into a financial crisis, that was here. a lot of u.s. banks were involved, a lot of counterparty activity there. with the greek situation, you have a lot of big e

we're seeing the continued stale mates in washington and a downgrading of greek debt by moody's. three notches from ca to ca-1. look at the numbers off by -- sorry. i guess you managed to read those numbers, though i didn't actually. thank you. moody's up two and a third percent. a third and a half percent for both the dax and london ftse and what moody's said about greece is the chance of a greek default, is quote, virtually 100%. more on ryanair, before the markets opened it reported a rise in first quarter profits to just shy of $2 lunn million. that was less than expected. ryanair sales were up 29% but rising costs, particularly the cost of fuel, ate into its bottom line. the last time i looked a short time ago, share price down 2.5% in london. about an hour ago i spoke to ryanair's chief financial officer, ryan miller. i asked about the disappointing results. what went wrong? howard miller, this is clearly a result which seems to disappoint the market. your shares are down in terms of the price. what went wrong? >> well, thing what happened was we just had come out with our

on word on this greek debt deal, markets around the world are responding in positive ways. our futures are looking good as well. i think investors here in the u.s. are hoping that our lawmakers can come up with a deal to settle our debt right now. so that's still in the picture. but this greek debt deal has been a long time coming. a lot of people are really happy about that. honeywell reporting later today. so far earnings have been pretty good. >> talk to me ability tech, about microsoft and intel. >> microsoft reporting yesterday, even though windows is sputtering, microsoft has plenty of gas left in the tank. the company says the sales of xbox 360 and kinect soared 30% in the last quarter. a lot of people love that kinect system. xbox is the 12th console for the 12th month in a role. microsoft growing its overall sales by 8% over the past three months to, get this, $17.4 billion. that's despite a sales slump from windows. it's better than forecast, great news for microsoft. all this, as you know, intel reporting record sales, up 11%. that's a big accomplishment as you k

it helped offset lackluster read on the jobs front and that deal on the greek debt crisis provided a spark as well. at the close, the dow surged 152 points to and at 12,724. the sixth triple-digit gain in three weeks. 29 of of the 30 companies ended higher. the nasdaq and s&p also rose. more began stanley jumped more than 11% on the day even though the bank posted a loss in the period. it still beat forecasts. >>> at&t's shares gained modest leads, even though profits fell by 10%. the company pointed to strong wireless sales. at&t was the first carrier to sell apple's iphone. >>> on the economic fund a closely watched, climbing more than expected. weekly jobless claims also rose though that's not good news. first-time claims increased by 10,000 last week to 418,000. analysts were expecting them to hold steady. that's a wrap of the day on wall street. i'm alison kosik in new york. >>> well, if the economic news lets you down like that jobs numbers, the earnings numbers will pep you up. microsoft waited until after the bell in new york to announce its earning, reporting a 30% spike in

. >>> the greek government is out of the fire but for now, not out of trouble. lawmakers this week pushed through a very unpopular bailout measure. one that keeps the country running for the short term. the law raised taxes, raised the retirement age and cut pay for public workers. crowds. furious greek people swarmed government buildings during the debate and the vote and clashed with riot police. >>> on to canada, the royal visit. britain's prince william and katherine are in montreal today. day three of the first official trip abroad as man and wife. they are coming to the united states afterwards. >>> and as long as we're talking about royal couples, prince albert of monaco is now a married man. he and south african born charlene wittstock were legally married yesterday during a civil ceremony but held a religious service today in monte carlo. >>> the president of venezuela will stay out of his country for a bit longer. hugo chavez made a shocking announcement this week publicly acknowledging a grim rumor that had been swirling about his health. >> reporter:

and in past races, competitors learned greek phrases and split wood and crawled under barbed wire. from year to year, it is never the same. >> there is a serious risk of death in the event. >> i understand. >> with those words, and whatever bruce can fit in his pack, including the mandatory axe, the first leg of the race begins. >> every person has to lift each rock 150 times. >> the task is to lift 100,000 pounds. they are each individually lifting rocks and rotating to the left. >> a half hour? . >> 14 or 15 loops an hour. >> that is ten hours. >> they going a little slow. >> seven hours in and only one person has dropped. 144 men and ten women are still lifting rocks in the middle of the night. after 75 loops, bruce is not sure how much longer he can go on. >> honestly, i'm not sure i will get through the other half. i did not count on all of this repetitive lifting. it is not my strength. these rocks are over half >> we are all meeting right where i am after you clean up jur pile, put it around your pipe and your hay bail and we're headed out. >> there's a raging river and we h

. >> greek authorities are detaining a ship bound for gaza. it stopped just minutes after it set out from a greek port. it was part of a flotilla intended to challenge the naval blockade of gla sa. -- gaza. greek authorities are warning that all ships headed from gaza will be stopped. clinton referenced the latest reports that government organized groups and security forces were attacking demonstrators. she had a warning for the country's leaders. >> it is absolutely clear that the syrian government is running out of time. there isn't any question about that. it will include peaceful protests to go throughout syria and engage in a productive dialogue with members of the opposition and civil society. or they're going to continue to see increasingly organized resistance. >> the casey anthony murder trial is done for today. the prosecution rested. closing arguments are now set for sunday. earlier today, prosecutors tried to discredit testimony from anthony's knottmother about who searched online for chloroform on the family's computer. prosecutor

in past races competitors learned greek phases, split wood and climbed under barbed wire. year to year it's never the same. >> there it is, my man. >> do you understand there's serious risk of possible death associated with this possible sports event. >> i do. >> understanding these risks do you still want to participate in this event in the. >> yes, do i. >> with those words and whatever he can fit in his pack, the first task of the race begins. >> basically every person has to lift each rock 150 times. >> task one is lift 100,000 pounds. they're individually lifting rocks, rotating to the left. >> half hour in -- >> you're talking 14 -- 15 loops an hour. >> that's ten hours. >> that's ten hours. >> seven hours in, only one person has dropped. 144 men and ten women are still lifting rocks in the middle of the night. but after 75 loops, bruce isn't sure how much longer he can go on. >> honestly, i'm not sure i'm going to get through the other half. i didn't count on all this repetitive lifting. it is not my strength. these rocks are over half my weight. >> we are all meeti

. >>> the greek government is forcing through a deeply unpopular program of seattle sales, spending cuts, and tax increases. >>> it looks as though venezuelan president hugo chavez will be staying in china for the time being. this video was released. venezuelan officials said he would be back on tuesday. now they said he'll be back inside of six months. those are the headlines. i'm monita rajpal in london. "world business today" starts right now. >>> good morning from cnn london, i'm nina dos santos. >> and a very good afternoon from cnn hong kong. i'm andrew stevens. welcome to "world business today." these are our top stories on monday, the fourth of july. the invisitors welcome a change of leadership, and the prospect of renewed stability and grouktd. >> tiger airways tanks when there's talks of substandard safety. >> and harry potter fans are on a marathon stamina. before that, let's take you to the stock markets. firsthand asia, solid gains as concerns about the u.s. recovery and greece's debt fades. things are off to something of a seesaw start and living large on the horizon, we g

bank, this man, may find himself at odds with the german chancellor angela merkel about how to keep greek banks in business. in an interview at the "financial times," he's saying they would not accept defaulted bonds as collateral and instead he says, quote, the government would have to step in themselves and make it right. in the meantime angela merkel herself says they should maintain some of the responsibilities. the euro has been weakening quite a bit against the major currencies. this is where it stands at the moment. 1.4034. and 1.6092 and japan has been trading at 78.96. >>> over the weekend they've renewed their sense urgency. they say their debts are sustainable but, quote, on a knife's edge. a share of support came from hillary clinton. she met on sunday with greece's minister of foreign affairs in athens and she said the u.s. supports greece's austerity measures. clinton added these tough steps will lead to a better economic future. >>> meanwhile, of course, in the united states there is some disagreement of a different sort. republicans and democrats remain at odds over raisin

especially if we were to have a greek default. the "d" word coming back. but the banks have said, we're going to lend less if we do that. just at the time you need the economies to recover. according to bloomberg, some of the big bankers will be here. some of the big european banks who will be listening in to give a bit of view on that. that will be interesting if they're allowed into the party because their views might be very different than what you hear from the politicians. >> jim boulden, keep us up to date what's going on in brussels. many thanks for that report there. >>> let's see how everything jim was telling us is affecting the markets. we're 19 minutes into the trading session. so far, it seems we started out on a weaker note. a lot of people waiting to see what happens in brussels. the only market that's up is the zurich smi. >> here in asia, the uncertainly about bad debt has kept investors from taking risks. new figures on the chinese manufacturing sector weighed on stocks in this region. a survey from hsbc says that money measures are affec

now for the greek, irish and portuguese banks they're out of the game already, nobody is willing to lend them money and the ecb is the only game in town. the ecb cannot take the place of the entire european wholesale bank market. >> the questions about solvency come to a head when you've got bond deals for countries like spain, one of europe's largest economies approaching 6.33% on the bond markets in terms of their yields, if economists are agreed that 7% is the cutoff point beyond which these countries can't finance themselves on the open market, what are the konconsequences? they could be huge. >> that is exactly what everyone's watching out for. yesterday we had italian ten-year government bonds trading over a 6% yield, that's a crucial level. because at that level it becomes very expensive for italy to fund its 1.6 trillion euro debt pile. spain as well as you said up to 6.3% yesterday, again becoming expensive to service to pay interest on its debt. those two markets have actually rallied a little bit today but again, watch out. i get a sense that hedge funds are just starting to t

let's talk about the underlie issue behind the greek crisis because it has implications for the united states. the strategy that was adopted for the last few years has been that countries have that the huge debt and deficit problems need to consolidate their balance sheets and to effect raise taxes and cut spending so they close the budget deficits. but the result of this in almost every country has been that the economy has suffered and taken a hit because you are taking money out of the economy or the government isn't spending, you know, it means there is less economic activity and the government fires government workers, they don't go out and buy things. is it possible that the imf received economic wisdom on this issue simply has it wrong? that at a moment where you have deflation circumstances or liquidity, whatever jargon you want to use, in unusual depressed economic circumstances, you should not be forcing the countries to cut, cut, cut? >> there's the short term and long term. unfortunately, you have to start somewhere. in the medium and long term, there is no question that fi

the ratings agency s&p has double blow to greek for an eventual end to the debt crisis. it says if a french plan to roll over visas go ahead it will cut the rater on the debt to "d," signalling a default. but they have been desperate to avoid it. the markets are closed for july 4th but the big news out of where you are this week will be the monthly jobs report on friday. ali? >> business insider is report that china, sovereign wealth fund, wants to buy a piece of facebook. this is ironic because we haven't seen or thought of facebook in china has being hand in hand. >> that's right. ironic i guess in the alanis morrisette sense of the word. especially sis mark zuckerburg made that trip. nothing is confirmed. it does make for a fascinating discussion. the question, should beijing be allowed to buy a part of facebook? fais beijings that cash. thinking of overseas assets for a while now. but would beijing seeking more internet control with such a deal? it's a big que

. >>> also greek police arrested the captain of a u.s. ship carrying american activist trying to sail to gaza. the coast guard turned back the ship called "audacity of hope." it went to challenge israel's sea block aid of gaza territory. >>> cnn will bring you live coverage of liftoff tomorrow. as nasa prepares for the last shuttle launch, we talk to the team, and it's a special tonight. >>> nfl camp usually starts in july, this month, but nfl players and owners not talking to each other. the lockout could hurt team readiness, and wondering why the two cannot make this happen. here is our joe johns. >> reporter: nearly four months into the nfl lockout and no deal in place as owners and players argue over how to split up $9 billion in annual revenue. >> that's ridiculous. >> greed. >> pathetic. >> reporter: james brown, a natalie known nfl sportscaster offers his take. >> i would like to think that prudent heads will prevail in coming up with something that is effectively is a win-win situation and doesn't alienate your fan base. >> when y

a majority of greek lawmakers voted for a strict austerity package that could cost them their political lives. but they understood that it had to happen to avoid default and there by putting the interests of their country ahead of their own interests. that's what we need here. each side needs to give a little more in the name of the greater good, even if it costs them votes. or their seats on election day. we need real political courage. republicans in particular need to stop repeating the phrase, we don't have a revenue problem, we have a spending problem. saying it over and over again doesn't make it true. we cannot keep every tax break in the tax code. the stakes right now couldn't be higher on. a sunday night in september of 2008, some of the smartest financial minds in the country gathered here in new york and made a calculated decision that letting lehman brothers collapse would be taken i

greek yields have been in the double digits for ages really, and what we're seeing at the moment yields on u.s. treasuries rising in response to the ongoing concerns about hammering out a plan to tackle that 14.3 tlts ceiling in the united states and raise it. on the stock markets, we do have some stock markets opening lower. ftse 100 edging back into positive territory finally after about an hour and a half of losses. one bright spot i want to bring you up to date with, is gold. the ultimate save haven, rising yet again in today's session, another record of $1,624 an ounce and counting. >> nina, we've been watching the european crisis sort of unfold slowly over more than the last year, for a lot of the american audience, give us some sense of why you think this may unfold in the bond markets first or earlier or more seriously than it will in the stock markets? >> yeah.

wall street greek. tavis and i are christians. we all have gangster proclivities. insider trading, all the various criminal activities, none of it investigated or prosecuted as of now. that's what led to our breakdown. now we're having convulsions. with debate over cutting? cutting? there is a state of emergency in america. it is a matter of national security, the condition of poor and, whoing people, as much as iraq and as much as afghanistan. barack obama does not make that a priority. that's why i'm deeply disappointed. >> why is he not prioritizing this? >> he has the wrong team. he has the wrong people around him. i heard you say he is very calm and serene. i love calmness. but when people i am concerned about is catching hell, which is working people of all colors, poor people of all colors, then you ought to have a state of emergency. fdr had a state of emergency. abraham lincoln, state of emergency. lbj, our white brother from jim crow, texas, has a state of emergency in regard to black america. he had a conscience. >> let me ask you a question. does the af

greek enacted legislation that clearly went against the will to people. but so my open letter is to you. dear plerk, the solution will be painful. some intending cuts are necessary and everything needs to be discussed. programs like medicare do need to be retooled. there can be no sacred cows. and he, yes, millionaires and big business, you need to pay your share. tax increases or whatever you are more comfortable calling them do have to be part of the solution. there is simply no way to make the math work without them. not everyone is going to be happy with the outcome. it's possible that no one will be happy with the outcome because we'll all give something up. but the sacrifice you refuse to make today will only require more painful ones not just for your children, not just for your grandchildren, but for you. this is going to start hurting in the foreseeable future. i'm asking you to give your elected officials the freedom to do what is best for the country even if it is not ideal for you.

investors cautious about a euro zone meeting, important meeting of european leaders to discuss the greek debt crisis. >> that's right. and you can see the signs of that clearly because there's been no clear direction for markets in asia or europe. a lot of uncertainty before the e.u. debt meeting. word of a possible deal to bail out greece, that generated some cautious, early optimism in trading in europe. that has since diminished. a european policy -- the policymakers are set to discuss a range of measures today including a new loan package to greece and the role of private investors in any debt restructuring. angela merkel has warned about too much optimism so we have to wait and see. >> no kidding. tell us more about the $100 million deal between tesla, the electric car company, and toyota. >> it's interesting. tesla motor has announced a $100 million deal with toyota to provide parts for an electric rav 4. tesla will supply toyota with all the parts to power an electric version of the suv including a battery, charging system, and software. and the production is slighted to start ear

look at what happened with lehman brothers and the greek crisis and how it caused consternation and real spillover effects all over europe. we're talking about the gold standard of the international financial system, the bedrock. this is what has been traditionally considered to be the safest set of securities in the world upon which everything else rests. i think you also risk something else, which christine talks about in the interview a little bit later, which is the dollar's role as the reserve currency of the world, again, something that provides america with what one european once called exorbitant privileges, mainly, again, in the form of low interest rates. we risk losing that as well. you know, the thing i worry a lot about, john, is whether we have already put into jeopardy all these things. every time there is now a debt ceiling renewal, it used to be automatic. people didn't think much about it. they knew there would be a little political noise around it, but the issue was a forgone conclusion. we've now turned this into something that is an element of uncertainty. >> insight

i've been doing afghanistan and bin laden and the greek crisis. you stay here. let's get it done. >> well, today everyone piled on, republican john cornyn lashed out at the president on the senate floor. >> this is a grand opportunity for democrats and republicans to come together to do the nation's business. to be serious, not to be reckless, not to give demogagic speeches like the president gave yesterday. absolutely disgraceful, he should be ashamed. >> and democratic senator chuck schumer accused republicans of sabotaging the economy. >> all of a sudden it's sort of like a new fever has taken over the other side. that the best way to win is hurt the country as much as you can and that will create political benefit, and it's just -- it's sad. obviously all of us inside here are just yep set by it. >> meanwhile, we're just a month away from a potentially devastating economic breakdown. my next guest, congressman joe walsh, is a strict fiscal conservative and no fan of the obama administration, but does he feel the criticism is turning into something more destr

suddenly embarks on a greek-style or uk-style austerity program. it would be foolhardy in the extreme with the growth numbers we're seeing, with your unemployment rate at over 9%. and with the problems that the global -- the fragility that the global economy -- >> if they're not suggesting that, what are they suggesting? >> a proper plan that is credible, that puts the long-term deficit position on a downward track. they're looking for a situation where both sides say this is what we're going to do and it will cut the deficit by x. but what have we got instead? we've got both u.s. political parties basically arguing to the death, to the point where you and i are not only talking about default but also about debt downgrade. which hasn't happened. the u.s. has had its aaa since 1917. and one other thing, while we're sort of on about this. the u.s. debt market is the most liquid, the most significant. everything is crucially important by the dollar and the u.s. bond market. and that these two now should be in such turmoil because of what's happening i

what i do know is if we don't do some bold dramatic things, this country is headed for a greek style debt crisis in the next two to thee years. virtually consensus now exists among if that's where we are headed. we are advocating that take this rare opportunity to fundamentally clang things and for the first time in american history require a balanced budget amendment to the constitution and get it passed the house and senate and get it out to the states for ratification. fundamentally clang things. >> let's talk about that in a minute. i have to tell you, i am the chief business correspondent when you say things like there is a consent amongst economists headed towards a greek style situation. there really is. but i get your point. it is serious. let's just talk -- >> very serious. david walker says it. >> we are actually on the same page. there are a lot of reasons we are not in greece. let's talk about august 3. there's a lot of discussion what happen it is we don't raise the debt ceiling. i want to put this to you. this comes from the bipartisan policy center that this government

zara means bright as dawn in greek, we're talking about names. here is zara, loved in england because she is a very, very accomplished show jumper, accomplished equestrian and apparently quite a remarkable woman and philanthropist but the daughter of princess anne. >> how old is she? >> 30. >> but being the daughter of a daughter, doesn't give you much leverage when it comes to becoming the king or queen. interestingly enough, when zara was born, zara and peter to princess anne, the queen said what tight wool you like to bestow on my children? she said none. she is miss zara phillips and her brother mr. peter phillips, her mother, princess anne, said why give them a title when they're so far down the line in ever becoming king or queen, why should they have the burden of a title. >> what would a possible title have been? >> they were certain obligations. just miss zara phillips, just going to remain and the man she's marrying, one of britain's most popular rugby players, mike tindle. take a good look, there he is brawling, beefy rugby player and

>> yeah, european leaders look like they're making good progress on a greek bailout. the markets seem to like it a lot. dow up 145. nasdaq better by 26. financial shares are really leading the charge. 29 of the 30 dow components are in the green. that even includes cisco systems, top performer up about 2%. a good day for the markets overall, fredricka. >> very good. thanks so much. >>> three great stories. only one can air. here's your chance to vote for the story you want to see next hour. first, you watched the revolution. but have you seen the movie? a new film dramatizes the events of the egyptian uprising. >>> second, they're training to be the first female pilots in the afghan army and they're getting their wings right here in the united states. >>> or, third, a painter's passion for rescued pit bulls becomes high art in st. louis and saves animals in the process. you can vote by texting 22360. text "1" for egyptian revolution the movie. "2" for first female pilots in afghanistan or "3" for pit bull painter. the winning story airs next hour. >>> are they ready f

. >> like the greek bonds. >> or hold it in cash until this is figured out. we all know this has to get done. let's go ahead and do it and move on. >> had a piece at the top of the program here talking about the possibility of the president actually invoking the 14th amendment of the constitution and going ahead and sort of raising the debt limit on his own. do you think that flies here in washington given the fact that the congress has always sort of gone through this procedure? >> well, you know, if it weren't for timothy geithner opening his big mouth back in january when he said we need to get this done by march 31st we need to be past this and he said we can make it go to august 2nd and the reality is they can tinker and get things done to. your specific question, no. i think it's best for the president to say to -- to the leaders, both the republican and democratic leaders in the house and senate, get them together in the same room saying we're not leaving or going to the bathroom until we get a deal. >> when it came time to do that, he did the reconcil

that's omega, the last letter in in the greek alphabet, designed to recognize the conclusion of nasa's 30-year shuttle program. well, brooke baldwin was lucky enough to be at the kennedy space center for today's historic launch. it's been a pretty emotional day for a lot of the shuttle fans, right? >> it has been emotional. they say there was something like a million people down here, according to the space coast tourism bureau. i was with a couple thousand of them around 11:26 a.m. when we saw here at launch pad 39-a, we saw space shuttle atlantis take off. and one woman, i want to share with you, her name is linda johnston, and it was so important for her to be here. she traveled all the way. she prepared to stay a coup of days as it was unsure when atlantis would take off. she was here with her grandchildren, her own children. three general prapgs she says seeing this poignant picture, it's all about patriotism. listen. >> well, this is something i always wanted to do. i've always been interested in the space program and i think it's kind of a real shame that it's not going to be ar

claims dismissed by greek authorities who say they were going by the book. protesters saying the holdups were the result of pressure from israel. >> the real situation in gaza is well understood by all mediterranean governments, by other governments as well that by all the relevant governments on the eastern mediterranean. and this is why no one wanted to be dragged into this irresponsible adventure by a handful of lunatics. >> reporter: in the end it was the little flotilla that couldn't, left wallowing instead of heading for gaza, all except one that got out of port saying they were heading for egypt not gaza. organizers say they may have failed to launch the whole flotilla but succeeded in highlighting the plight of gaza's 1.5 million mrips, most of whom live below the poverty line and are economically at israel's mercy. israel disputes that saying it allows humanitarian aid into the territory and the blockade is to prevent weapons reaching militants inside gaza. according to those behind this below ti flotilla, there will be another and another as long a

and then you also have the greek crisis. so there's a lot hanging out there. and that could explain some of the nervousness. remember, he, timothy geithner, was the person who came in and was really spearheading this administration's response to the financial crisis with all of its good sides and its bad sides. so there was a lot of criticism in the beginning. when, well, could he leave? well, when he was in a discussion last night, or yesterday, with former president bill clinton, bill clinton played journalists and said are you going to be going and he said, i'll be doing this job for the foreseeable future. but what they're pointing out is they have to get through debt ceiling and the deficit reduction before anything could happen, realistically ali. >> we'll see where it goes as we said. the senate now canceling the recess. will the house follow suit? >> john boehner the one says they're not making any deals. you know what, jill, we'll be working here for the foreseeable future until the debt matter gets resolved, i suspect. >> right. thanks, jill. >>> a s

i have to think what happened in greece, the greek parliament they had to make a decision because they were sqesed into it to say it doesn't matter what the constituents think at this point. really only one road out of this. >> i think the real issue here is it has to be a bipartisan deal. i'm not sure the republican base is ready to commit that. the fact doing these difficult deals requires in america, requires people to reach across the aisle and for each party to have their fingerprints all over the result. >> i think i agree with you there. practically speaking, we have 27 days and isn't 27 days to make a decision but 27 days to make a decision and get the enabling legislation in place. practically speaking, what will move them? what is the thing that is going to cause republicans to come in and say, let's get this done? is it obama inviting them to the white house tomorrow? >> i don't think it's going to be obama inviting them to the white house. he hasn't had a lot of success with that move in the past. i think it's either going to be this is a negotiating strategy, they are basi