Transcripts For FBC Varney Company 20150209

Considered the sexiest of them all. Varney company is about to begin. Stuart check the big board. Nothing to laugh about. A private joke with kt. The Dow Jones Industrial average down 80 points. Chinese imports down 20 . Not good for the worlds second largest economy. Greece plays hardball with germany. Are they leaving the eurozone . Maybe well get a decision fairly soon. Markets down on all this news. Price of oil is still moving higher. It gained 7 last week. And its now up another 1. 52. You know what that means. Gas prices keep going on. 2. 17 a gallon now. Twelve cents higher than last week. The 1 dollar club, thats the average within a state is below 2 a gallon theres only five members. Far cry from january 26, when the 1 dollar club peaked at 28 states. We do this every day. And we have the cheapest gas in the land. 1. 55 in idaho. Silver country. Come on in with gas buddy. Everyone wants to know this one. Why has gas gone up so far so fast . Whats behind that rise . I hate to be the one to justify it. I dont like it either. But and i want a british accent, by the way. What weve seen here in the last few weeks, oil rebounding. 20 jump of crude oil. Of course, that will be higher gas prices. Thats what were seeing. Were not being gouged. We dont have gasoline owners saying, all right, heres my chance to make a little money. You reject that . A lot of motorists will say were gouge because theres no reason for it. Out of a technical look at it, no were not being gouged. Station owners are passing along the increases. Really, its a game of saudis. They were talking about 200dollar oil which is of course, another zero on to the 20dollar oil they were talking about a few months. Flipflopping. Markets going crazy. This is normally when we see an increase at the pump. That has to do with refinery maintenance. Stuart there is 13 of americas Refining Capacity is now shut down because of the strike. Has that got something to do with the runoff . Its certainly spooking the market. Youre talking about bp which is one of the largest refineries, in indiana, they went out on strike sunday morning. Its not a contributor to higher prices yet in many communities. Its something worth watching. You have refinery maintenance. All of a sudden refinery strike. A lot of bullish factors putting upward pressure on oil and gas prices. It all depends on the future price of oil if it goes up from 53 a barrel where it is now, gas prices go up a lot very soon. If it comes down to 44, 45 a barrel, well be back down to 2 national average. Is that it. Theres a caveat. That maintenance will take place no matter the price of oil. Theres going to be a disconnect between the relationship of crude oil and gasoline as we head into this refinery maintenance season. Dont watch it so closely. Be ready for an increase at the pump. Stuart ive been out for ten days. When i did get behind the wheel yesterday, i got a shock because prices had gone straight back up again. It was about 20, 25 cents a gallon in new jersey where i was. Welcome back to the show patrick. We want you back again and we want you to forecast below 2 a gallon. Accurate or not. See you soon. Gasbuddy. Com guy. German chancellor Angela Merkel arriving at the white house. Holding a News Conference with president obama later this hour. How to discuss russias incursion into ukraine. Putin is poking us in the eye. Kt mcfarland is here. You give the ukrainians the guns they demand. Number two impose strict new sanctions on the russians or neither of the above. What will happen . It depends on what Angela Merkel says in the white house today. Germany has found out how to win world war i and world war ii. Its with banks and exports. Germany needs to export. You need wealthy companies to buy the stuff. You need political and economic security. Angela merkel wants to pick a fight with russia. Whatwhat is putin she doesnt want to have sanctions. Stuart she says no arms to the ukrainians . Or watch out for putin. Hes a wounded dangerous bear. A year and a half ago putins popularity was 50 . The ukraine crisis comes. He whips up uber nationalism. The west is taking from us. They stole from us. They want to enslave the russian people. His popularity is 80, 90 . He needs an enemy because his economy is getting worse. He doesnt give up ukraine. Stuart hes won in ukraine and crimea. We wont take serious action against russia leaving the possibility that russians will go after the Baltic States which we are committed to defend and are members of nato. Article five of the nato treaty says an armed attack against any one of our members we all respond to. Its the three musketeers all for one one for all. But it says armed attack. Putin says in ukraine there was never an armed attack. These were russian volunteers. Thats his when i was in ukraine last year, they call it putins phony war. Hes going to war but he has plausible deniability. Stuart theyre going to to say in the conference. We have the russians. Theyre paying a price. But, in fact, theyre not . I think, at the end of the day, if a people say we want to defend ourselves and were willing to die for that, then we, the United States, give them the weapons, but understand stuart do you think we would . Do you think president obama actually gives offensive weapons no defensive weapons. And Congress Wants to do it. Russia will never give up on ukraine. Because putins whole security is popularity. His whole time in office depends on that. But you can make that price high. When i was in ukraine i met with the former head of their military. He said his son, who was a lawyer, his son said, dan, im going to the front lines and fight for my people. If you have people willing to do that, let let them do that. It doesnt change the outcome. But it makes russia pay a bigger price. Putin for sure will win. I think putin wins and this administration, who knows what they will do. Check the big boards. Monday morning. Where are we . Were down 81 points. Some worry about greece again. Are they going to leave the eurozone. And very weak chinese trade data. That doesnt help the dow industrial average is down 80 points. Mcdonaldsed said Monthly Sales fell 1. 8 overall. Asia weak. Us and europe, small improvement. The stock is at a small improvement. Coming in netflix. People in cuba can stream by netflix. Starts today. No impact on the stock whatsoever. Maybe the cuban market isnt that big. Sarcasm. Im glad to be back. Some major headlines. But i wont do the telling. You dont want a british accent for this. Bring in lauren. Something has changed when you were gone. John kerry says the us strategy to defeat isis is working. And Coalition Forces have captured 22 of the area isis if hearea they held. Clint eastwoods american sniper loses first place. Unseated by the spongebob movie. Sponge out of water. 56 million over the weekend. American sniper took home another 21 million. It brings its fourweek total to 280 million. And last nights grammys award, beck won album of the year. Rapper kanye west takes the change. He seems he will interrupt beck back in 2009, but he didnt. However, after the show west told e news that beck should have given that award to beyonce stewart. Hes a nice guy. Stuart yes. Look if youre in the business of making money by being famous. You get yourself in the headlines regardless. Thats what mr. West was doing last night. Wouldnt you agree with that . . well, he is married to kim kardashian. Stuart precisely. Thank you very much indeed. It feels great to be back. It really is terrific. And after being out sick for a week. Should i let dr. Mark siegel take a victory lap . I always tell him i never get sick. Hes in the case. Next. Stuart all right. Weve opened up on a monday morning with a modest lost. Down 65 points. Not much on a 17,700 index. You know maybe, who knows, but maybe well get rid of this loss and onward to 18,000. But 17750 is where we are now. Gold is 12. 41 per ounce. Up six bucks. Cheap oil hurting the driller. Diamond offshore. Diamond says it wont pay a special dividend. Its been doing that since 2006, but not this year. Thirtythree bucks a share on diamond. Thats the formerly hong kong banking corporation. Its swiss subsidiary helped wealthy customers conceal a lot of money in assets. Rich edson has the story from washington. Rich, this is a totally new and separate story isnt it . This is a whole new batch of people who may have been caught concealing assets and not paying taxes. Right. This is from documents that the company says were previously provided to french authorities. Theyre now surfacing. Former shpc detailing accounts from 2011 to several news outlet. It reports the banks dealings with clients engaged in what it called a spectrum of illegal behavior concealing hundreds of millions of dollars from tax authorities and holding huge money in response. The ceo claims the Company Began a radical transformation in 2008 to prevent clients to launder money. Better account oversight. Stronger compliance controls. The top democrat writes, if the charges are true, the same institution that was first caught violating us sanction laws could then escape accountability for preventing widespread evasion of us tax laws. I intend to press the department of justice for answers. Weve requested an answer. Officials from the justice have yet to respond. Stuart i wonder if theyll take it to court. As opposed to threatening them with a criminal indictment. Well see. Well yes its true. . im back. Not feeling very well the past couple of weeks. Apparently some of you were concerned. You wrote in, where is he. Chris, wow, again stuart is not on the air. Is he leaving fox business. It was said stuart was not a fan of the flu shot. Its reported that hes very sick with the flu and thats why he hasnt been on the show. All right. Listen to what i did say about flu shots. Stuart im elderly. Fit as a fiddle. Nothing wrong with me at all to my knowledge. Why should i get a flu shot. Ive never had the flu in 50 years . Well, hes here. Dr. Marc siegel is here. Wait a second. I didnt have a flu. I was not diagnosed with the flu. You emailed me and said you didnt have the flu. I dont know that. What were your symptoms . I didnt go to the doctor. You cannot diagnosis me with the flu. Besides, i was incapable of getting out of the room. And therefore, i was looking for a doctor who does house calls, and i couldnt find one. I have a show called house calls. How did you know i wouldnt do a house call . Stuart im still not going to get a flu shot next year because i dont believe theyre effective, but i will have my children and grandchildren theyre already vaccinated against the measles. I think thats a responsible position to take, do you not . I dont think thats a farfetched position. Listen certainly the measles mumps vaccine is better than the flu shot. This years flu shot only 30 to 40 . But im still wondering you may have had one of those cases which knock you out and you have to stay in the house for a week. A flu shot may have helped you. I dont see the downside to taking a flu shot. The measles one say live virus. We cant give it to everyone. Not to people who are immunocomprised. Do you think the federal government should mandate that all children going to all schools get the measles vaccination. I will answer that in three parts. I know you think im dodging this. I want to know if all states are complying with the standard. If theyre not, then the federal government needs to be involved. States have a right to say, if i have a public school, and there are kids at risk at this school and theyre not vaccinated or cant be and theres measles around in that area, that a child whose parent is refusing vaccination, they have a right to say this child cant be in that school. Theyre putting this child at risk. I think it centers around Day Care Centers and schools. If the states arent setting a proper standard, federal government has to be involved. Another problem i want to talk about how well are we communicating this to parents . I dont want people to feel bullied. I want parents to understand that overall this is a very safe vaccine in the vast majority of cases. Its highly effective. We live in the age of the internet. Anyone can dial up measles vaccine. You will get highly contradictory information. How do you deal with that . Hopefully im helping with that. One people say its a measles mumps rubella vaccine. Thats a legitimate question. Why should we be afraid of asking questions . You know, i think everyone should understand that we should ask questions. You know where i on this. There was a survey done by ap that came out saying 50 of americans dont believe vaccines are safe or effective. I think thats erroneous information. Im trying to contradict that. We openly talked about the measles vaccination not being create, but the other vaccine is effective. I remember the great concern for parents was polio myelitis. That was a huge threat to all youngsters. The vaccine got rid of it. Polio disappeared. I think it came back in taliban controlled afghanistan or something, but essentially its gone. Thats the effectiveness of a vaccine applied universally. Thats a strong argument for vaccination for mortal diseases. Thats a great point. The measles vaccine has cut down on measles deaths by 75 . Hundreds of thousands of deaths less. I want to point out. As this is getting stirred up, in the vast majority of cases measles is not a killer disease. Its 90 contagious which is why we need a powerful vaccination against it. I had it as a child. I dont know how old you are. In 900 out of 1,000 cases, it runs its case. Its that one person that im worried about. Thats too high. We have to vaccinate. There was no vaccine in the 1920s but thats another story. How old were you in the you didnt get that, did you . It went right over your head. Youre faster than me. Nice to be back. Consumer drones becoming more and more popular. Yes, they are. Now Homeland Security says terrorists might start using them to deliver bombs. We have the full story after the break. Listen to the beatles. Next, a little trivia for you on this day, the beatles appeared on the Ed Sullivan Show for the first time. What was the first softening theysongthey performed . Hint, it wasnt this one. Stuart this day in 1964, the beatles appeared on the Ed Sullivan Show first time ever. What was the song they performed . All my loving. Congratulations for those of you who got it right. There were lots of you. Twitter giving back some of the biggest gain it got last friday. It beat the streets 92 cents. That would be 2 down. Now its 47 a share. The department of Homeland Security, it says it is testing nightmare scenarios where terrorists use small consumer grade drones to deliver explosives. This comes after that small drone piloted by a drunken Government Employee breached the airspace over the white house and landed on the lawn. Here is kurt the cyber guy. So the Homeland Security department is looking at obviously looking. They have to look at this. What are they doing . In midjanuary. They had a meeting. Brought people from the outside. The press wasnt invited. A photo was uploaded from the event. This is a picture of that phantom drone. It can hold 3 pounds of a payload. Usually a camera is on it. The guy strapped right there 3 pounds of mock explosives to show that you can just simply use this as an explosive device. And its not the first time. In syria theyve been exporting these or importing them into syria and using them. And in a in an army of drones these consumer drones that you and i could buy and have in our hands an hour from now putting them together for 5,000 dollars worth of drones, they went against a convoy of vehicles and the drones won. They fired against Armored Vehicles in this case and they won. Stuart this was in syria . Yes. Stuart who was doing . Some rebels. Photos came up. Video evidence was posted. I cant find the video today. I think they brought it down. Its definitely possible. And these are the consumerlevel drones. Yeah, how much was that one . That particular drone how much . Under 1,000. We can go down the streets of america anywhere and buy this drone. And ill tell you this, dont point the finger at these guys. Just because this is the ipod of drones, its the most popular theyve taken the step of putting in nofly zone inside their own operating systems so that thing that happened in the white house if youre using this brand one, it wont allow it to fly near the white house anymore. Theyre able tolerance that impose these geoborders inside of their stuart could you throw up a nofly zone in very short notice. If a leader were to be appearing in a halfhour in some place out in public, could you throw up a nofly zone and say, were safe . There are claims that this is possible. Theres no one actually doing it. You have two classifications of drones. You see the ones we see in battle. Boeing and a number of other defense contractors have put together sophisticate targeting where they can point a laser on these things and take them out. Question is do we have preparation at key places like airports and the white house to put up that kind of net youre talking about . I dont think we have it yet. How many would it cost to put up that net . Can we afford not to. What this does is reveal a potential huge problem. Enormous problem. Stuart enormous. The next thing well see, and ill say it because its already been said is someone using this to lets say im on the outside of the airport. Im bad guy number one. Youre bad guy number two. There are plenty of airports that have public space where you and i can go outside once we pass security. I can drop anything your mind can imagine that could do a lot of harm on the inside of the airport. This is a big story related to what the heck do we do about protecting ourselves . Stuart thank you for before bringing it to us. Samsung has a new ultra hidef tv. It could record your voice and send those recordings out. The judge is next. Stuart shortly, were not absolutely sure when but we are told it was coming, president obama will hold a News Conference with germanys chancellor Angela Merkel. Peter, ukraine, russia, topic number one probably the big topic of this press conference. Correct . Absolutely, stuart. And as you probably know chancellor merkel has been engaged in serious round of basically shuttle diplomacy in europe trying to broker some kind of new peace deal between russia and the ukraine, in light of the increase to fighting there. She has come here to ask that president obama and other officials and lawmakers shell be meeting with for patience while she tries to work out a deal because there are reports, not officially confirmed by the white house, but there are reports that the administration is considering sending lethal aid to help the ukrainians that would be weapons defensive weapons at least to help them in their fight against the russians excuse me against the separatists who are being helped by russian soldiers as well. Shes meeting with the president today trying to convince him to give this effort a little more time. The deadline for russian president putin for a deal on wednesday stuart. Thank you so much peter. Judy miller is with me shaking her head vigorously during that report. So what, i heard you say . Exactly. He has been considering weighing, debating whether or not he should supply arms for people fighting for the integrity of their own country. Not our boots on the ground. Their own boots on the ground. A country which had a slice of it in crimea. Taken by the russians. Were at the stage where Angela Merkel comes here because kerry was kept out of the meeting. Secretary kerry was kept out of the meeting with putin. Shes asking for more time. She doesnt want new sanctions or military aid. This challenge this aggression cannot be solved except through diplomacy. Thats in line with diplomacy. Diplomacy of president obama. But its not doing the ukrainians any good. Stuart stay with us. The press conference comes up shortly. Now this, samsung has a new smart tv. Not on the market yet. But apparently it records what you say in front of it and could send that audio recording to a third party. All rise. Judge Andrew Napolitano is here. This is a very real thing. The tv is not on the market yet. This is almost mimicking scenes in George Orwells 1984 the television was for it to watch you. Samsung has been advised by its lawyers to put the warning in there. If they didnt put the warning, they would be the subject of huge litigation. This is the quote for the privacy policy. Quote, please be aware if your spoken word includes sensitive information, that will be transmitted to a third party through your use of recognition. Thats big brother. It clearly is big brother. It doesnt matter who or what the third party is. Because under the patriot act. Federal agents are allowed to write their own search agents to write their a federal agent on his or her own could go to whoever the third party is. Whether its the samsung, cloud or Storage Facility could capture it. Without a search warrant issued by a job with the federal government can be listening to what youre saying in front of that television in your own home without you knowing about it. Stuart you and i spar about the level of surveillance thats okay. Im getting the feeling that technology is so overwhelming. So many areas of what we consider to be private areas are being snowed over. Technology is always ahead of the law. Technology has the profit motive and it is always engaging in a new area first stuart wherewheres the profit motive in recording your voice . I wish i could answer that. But i assure you people will overlook this and buy it because it has other bells and whistles they like. Ive gotten in the habit to bull out my blackberry and say, i want each of you to keep your blackberries and iphones on so that the president and the nsa can hear everything you say. Everyone laughs. Its not necessary anymore. Now the government can turn these on, just as the government could turn your samsung on without you knowing it and listening to what youre saying in your living room. Its extremely scary. Stuart youre winning me over. Im trying to. You would have thought i took out a buggy weapon. Fox uses blackberries. I use a blackberry. Stuart thank you very much indeed. Welcome back, stuart. Stuart still to come Nbcs Brian Williams takes himself off the air. Well talk to a journalist who went to jail. Judy miller. She defended her sources. Went to jail for that. What does she think about that, the Brian Williams mess. And were still waiting for president obama about to hold a joint News Conference with Angela Merkel about whether to send arms to the ukraine. We dont think either will happen, but well tell you about it in a moment. Im nicole petallides. Right now the Dow Jones Industrial average down 46 points. Down one quarter of 1 . The s p 500 down a tenth of a percent. The nasdaq just fractionally down two and a half points. The vix, the fear index, up arrows today. Looking at some of the dow movers today including caterpillar and chevron. Those are your best performers on the dow. Caterpillar up 1. 6 . Travelers and mcdonalds are under pressure. Mcdonalds cames out with the same store sales that actually saw worse than expected. Hasbro that stock doing great. New high. Up 6. 7 . They did well with their marvel choice and transformers. Take a look at abercrombie and fitch. Thats hitting a new low. Down 4. 3 . Downgraded. Strong us dollar. Also just weakness over at amber come bring and fitch. Stuart i do want to remind you. The president and Angela Merkel should be coming out shortly. Theyre a little late to start their News Conference. Well take you directly to the white house. Now this, Nbcs Brian Williams says hes temporarily removing himself from the networks nightly broadcast following the revelation he made false reporting in iraq in 2003. Were joined by a Pulitzer Prize winning journalist, judith miller. You went to jail for two months because you would not reveal your sources. What do you make of mr. Williams predictment as a journalist . On a a human level. I feel sorry for Brian Williams. He has had a distinguished career and its kind of heartbreaking to see this unraveling. But i dont see how, absent of complete exoneration of this noninternal investigation, i dont see how nbc can continue to market credibility with mr. Williams there if the stories weve heard about the exaggerations hes told turn out to be true. Stuart it appears from what ive seen of his previous reporting that he wanted to embellish his position as warrior journalist, if you like embellish his position as the man at the center at the action to make him look better as a journalist involved in the thick of things. Right. But hes an anchor. Brian williams is not richard hes the nbc correspondent. Fearless has been captured. Been held hostage. Hes still out there, even as we speak wearing his bulletproof vest. And hes a genuine reporter, but Brian Williams was supposed to read the news that he reported, that is Richard Angel with credibility. Thats whats at stake now. . stuart will nbc, and he is the face of nbc news. The very successful face of nbc news. Will they say to him, we cant have you back . Will they say that . I could be cynical and say it depends on what the ratings show and whether they think they have someone in the bench that could present themselves as Brian Williams. Stuart they couldnt let him come back. I dont want to throw you a curve here, but what about the reverend al sharpton who has a show on a per purportedly news network. Hes part of the nbc news team. Ive never understood that decision. Ive criticized that decision as have you. But it doesnt affect nbcs calculation about who is watching them. Whom they want to watch them and why they think that al sharpton buys them something. One thing he doesnt buy them is credibility. And so they have, in essence, a double problem. Now, they have al sharpton or Chris Matthews who i mean, this is they are clearly left of center and theyre marketing themselves that way. But when it comes to a news anchor on the evening news, the standard has to be different. Stuart again, i wont throw you a curve. Greece. I know youve reported extensively on this. Not from the financial point of view, but the political point of view. As i understand it, the new Prime Minister of greece went right out there today right before right before he starts to negotiate with the germans about more money, he says, hey, we want reparations for the nazi occupation. Isnt that a little provocative . Right. Hes doubling down on his, ive heard the voice of the people. Austerity is enough. We deserve some help too. And we deserve it from the germans who still owe us money. Its literally a doubling down on the original positions he took during the campaign. Stuart so given your best judgment, is greece in or out of the eurozone in the next year or so . Are they going to stay in, or will they eventually get out . Come on. Come on. You dont have to go to prison for failing to respond. I have enough problem analyzing the present rather than the future. If you had to bet 50 50 i think its 50 50 if they stay or go. Its resisted by all the rest of the europeans. He may have no choice because the people have spoken as i heard stuart youve chucked it on to me. You chuck it on to me. I say they stay because the rest of the europeans are so terrified of what happens to portugal and spain and even france if greece leaves. And italy. Stuart im sorry. I left some out there. Please stay there. Because when we hear from the president and Angela Merkel we want your comments on that. Hillary clinton facing tough Economic Issues if she decides to run for president. Attacking the rich while taking their campaign donations. Thats next. 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She has to deal with anger over income inequality without vilifying wealthy people who give her a lot of money. Here is elizabeth mcdonald. Now, shes wealthy. Hillary clinton is a wealthy lady and she gets money from wealthy people. How does she come across as a lady of the people . Yeah, approximately it. It will be tough. She cant Campaign Like its 1994 all over again. Meaning her husband. Her second biggest donor was wall street in the 2008, you know run for it. And, you know, she came back and said listen, i want tighter derivatives regulation. What youll hear, heres the theme of the Hillary Clinton campaign. Inclusive capitalism meaning everybody can try to get rich. Stuart make money. And well take it off you. Yeah. Stuart its an expression that you know of that shell use, Inclusive Capitalism . Reportedly. That could be the theme of her campaign. Stuart think it will work . I have yet to see the government define inequality. Theres no definition for inequality. Will it work . It certainly sounds better and its more positive than, you know, the income inequality referred to by president obama. Inclusive capitalism. Watch for that campaign theme. Stuart still waiting on president obamas News Conference with germanys chancellor Angela Merkel. Sending arms to the to the ukrainians. Whats your bet . Varney company hour two. Two minutes away. Startupny. Its working for new york state. Already 55 companies are investing over 98 Million Dollars and creating over 2100 jobs. From long island to all across upstate new york, more businesses are coming to new york. They are paying no property taxes no corporate taxes no sales taxes. And with over 300 locations, and 3. 7 million square feet available, theres a place thats right for your business. See if startupny can work for you. Go to startup. Ny. Gov. Stuart now this hour, momentarily well take you to a joint News Conference with president obama and germanys chancellor Angela Merkel. Should we arm the ukraines impose more sanctions on putin . And how about greeces possible exit from the euro . Will that come up at the press conference. Both of those issue, greece and ukraine, they affect your money. Peter barnes is at the white house with a preview of all. This let me ask you direct question, weve got a choice we either arm the ukrainians or put new sanctions on putin i say were not going to do either of the above. What say you . I would say that new sanctions are more likely than perhaps arming the ukrainians. Yesterday, secretary of state kerry said that they agreed with Angela Merkel, the chancellor of germany, there is mow military solution here, and she is saying that if they cant get this deal with putin on wednesday when they have a summit meeting in bulgaria then theyre going to be more sanctions coming but well see, stuart. Well see. Its tough. Stuart momentarily, were waiting, they are about 20 minutes late as we speak. Congressman Scott Garrett is with us, republican from new jersey. She my congressman. Welcome to the show. Good to be with you again. Thank you. Stuart dont want to suggest what might be coming up at the press conference. I want your opinion. Would you support tougher sanctions imposed on putin now, because youre very familiar with the financial markets. Youre on the budget committee. Youre on the Capital Markets committee. Youre the man with money youre all about money. Do you support tougher sanctions on putin, here and now. You have to lay the groundwork for this, what is the United States obligation in this area the 1994 budapest agreement thats when ukraine gave up their nuclear stockpile, right . And the world was thankful for that. In exchange the United States england, russia and china and france on the side said yeah, well be there for your territorial and territory. Stuart in exchange for getting rid of the nukes, we said well defend you. We have an obligation the problem is with europe that europe is the weak link in a lot of this, they do not see the world the same way we do maybe because they know we always come at the end of the day to bail them out. Stuart Angela Merkel does not want new sanctions on putin. She relies on him on energy and trade. Theyre going to say no we dont want new sanctions. If you break up one of the areas on Energy Germany was trying to expand alternative Energy Sources in order to go green on the one hand but to say maybe we can distance ourselves from russia. At the same time what was the economic fallout . So Many Companies leaving germany because of the high price of energy. This is the kickback to the effort. Stuart were expected to go to the white house literally in 90 seconds. Before we get there, to you think this is a tough call, do you think greece is on its way out of the eurozone . Maybe this year . Next year . Whatever, do you think theyre on the way out . I want to be as firm as the next guest its a definite 50 50. If i have 15 seconds left. The wall street journal gave a good piece why is greece in the situation is because of the actions of the imf, the actions of the standard policies over there saying youre going to invite fringe governments, invite fringe behavior when you dont take progrowth economic initiatives, and you have not seen that in greece and europe and eu and the imf. Very concerned with the markets in the United States, thats what you do. Is it good or bad for america if greece leaves the euro . One of the reasons were doing so well right now. Were the best of the worst situation in the world. If you look tat from a purely isolation perspective. As long as things tumble over, there its good for us, in the longterm, its not good for us. Stuart its not . Its not in the longterm. Stuart do you want to see europe with one currency . I dont know if you want a united europe currency. Stuart congressman, thank you very much. Stay, there i might want your comment later. President obama, germanys chancellor Angela Merkel getting to the podium. Lets listen in. As always, it is a great pleasure to welcome my close friend and partner chancellor Angela Merkel, back to the white house. Angela has been here many times, but this visit is a chance for me to congratulate her on two achievements well into her third term angela is one of germanys longest serving chancellors. Perhaps more importantly this is my first opportunity to publicly congratulate angela and germany on their fourth world cup title. As we all saw in rio angela is one of the biggest fans. Our u. S. Team gets better each world cup so watch out in 2018. Germany is one of our strongest allies, so whenever we meet its an opportunity to coordinate closely on a whole range of issues critical to shared prosperity. As angela and german friends prepare to host the g7 this spring, its important for us to be able to coordinate on a set of shared goals, and in our working lunch this afternoon, well focus on what we can do to keep the economy growing and creating jobs. As strong supporters of the transatlantic trade and investment partnership, there needs to be agreement that boosts economies with strong protections for consumers and workers in the environment. Ir look forward to hearing angelas assessment of how europe and imf can work with the new greek government to find a way that returns greece to Sustainable Growth within the eurozone where growth is critical to the United States and the global economy, and discussing our work to get all Major Economies to take ambitious action on Climate Change including initiative to limit Public Financing for coal powered plants overseas and efforts to phase down some of the most dangerous greenhouse gases. Our discussion this morning focused on Global Security issues. We reaffirmed our commitment to Training Afghan Security Forces in supporting a sovereign, secure and united afghanistan. We agree that the International Community has to continue enforcing existing sanctions as part of diplomatic effort to prevent iran from obtaining a Nuclear Weapon even as the p51 working to the achieve a good verifiable deal. Two issues in particular that dominated our workday this morning. Russias aggression against ukraine and the International Fight against isil. With regard to russia and the separatists it supports in ukraine, its clear they violated just about every commitment they made in the minsk agreement. Instead of withdrawing from eastern ukraine, Russian Forces operate there, training separatists and helping coordinate attacks. Instead of withdrawing arms russia sent in more tanks and armored personnel carriers. With russian support, the russians seized more support destroyed villages and drawn ukrainians from their homes. These are the facts. But russian aggression has only enforced the unity of the United States in germany and partners around the world, and i want to thank angela for strong leadership and partnership as we met this challenge. Chancellor merkel and Vice President biden met with president poroshenko in munich and angela talked in moscow. We continue to encourage a diplomatic resolution to the issue. And as diplomatic efforts continue this week we are in absolute agreement that the 21st century cannot stand idle have us stand idle and simply allow the borders of europe to be withdrawn at the barrel of a gun. Today we agreed to move forward with our strategy along with our nato allies, well keep bolstering our presence in central and Eastern Europe part of unwavering article 5 obligation to defense. We will continue to work with the imf and other partners to provide ukraine with critical Financial Support as it pursues economic and anticorruption reforms. We discussed the issue how best to assist ukraine as it defends itself, and we agreed that sanctions on russia need to remain fully in force until russia complies fully with its obligations. Even as we continue to work for a diplomatic solution, we are making it clear again today, if russia continues on current course, which is ruining the russian economy and hurting the russian people as well as having such a terrible effect on ukraine russias isolation will only worsen both politically and economically. With regard to isil germany and the United States remain united in our determination to destroy this barbaric organization. I thanked angela for her strong support as a member of the International Coalition that is working in iraq. In a significant milestone and Foreign Policy germany has taken the important step of equipping Kurdish Forces in iraq and germany is preparing to lead the training of local forces in irbil. Germany is a close partner in combating foreign terrorist fighters and under angelas leadership, germany is moving ahead with new legislation to prevent fighters from traveling to and from syria and iraq. At the same time, both angela and i recognize that young people in both our countries, especially in muslim communities are threatened and targeted for recruitment by terrorists like al qaeda and isil and protecting young people from the hateful ideology so theyre not vulnerable to such recruitment. First and foremost a task for local communities families neighbors, faith leaders who know their communities best but we could help those communities, starting with the tone and the example we set in our own countries. So i want to commented angela for her leadership. Her leadership speaking out forcefully against xenophobia and prejudice. She made it clear all have a place in germany just as they do in the United States. Im grateful our friends will counter violent extremism, this is a challenge our countries have to meet together. And let me end on a historic note, this year marks the 70th anniversary of the end of the second world war. It marks the 25th anniversary of the reunification of germany. In a time when conflicts around the world sometime seem intractable, when progress sometimes seems beyond grasp, germanys story gives us hope. We can end wars countries can rebuild, adversaries can become allies, walls can come down, divisions can be healed. Germanys story and the story of angelas life remind us when free people stand united our interests and values will ultimately prevail. And as we look to the future as i preparetor visit bavaria in june im grateful for my partner with angela as americans are grateful for their partnership with the people of germany. Chancellor merkel . Stuart im going to break as we wait hearing from Angela Merkel. Congressman Scott Garrett is with me. The president stressed diplomatic, nothing new, nothing strong from the president. Your take please. I take as a couple, one what we heard from this, the russians in aggression is a threat to the stability of the region. So too after listening to the speech, that the administrations lack of coherent policy in the area also is a threat to stability in the region. For example, one of the strongest pushbacks is in the field, we talked about this before, energy. I caught a quick note about it something about pushing forward, but limitations on environment gases greenhouse gases, coalfired plants. Shouldnt we be doing to make europe everything at this point in time a stable and independent with regard to direction. Stuart Climate Change is one of the first things the president mentioned along with trade agreement, looking at greece and then Climate Change. Got to do that. You took the notes. Seems the problem the administration, a, not a coherent policy, and one not following through with the policy they laid out in paper. I might add there was no change in the Dow Jones Industrial average during the president s opening remarks. Not that we were expecting anything, but nothing new from the president , therefore no market reaction. Back to Angela Merkel who is speaking now. Seeing that the negotiations between the eu and the United States on free trade agreement, pursued in a vigorous manner, its in our own vested interest, in the interest of the United States and the german interest, we are dealing on the g7 agenda with health issues, let me mention one. What lessons have we drawn for example from the ebola epidemic. I think one thing we learned is the International Organization the International Community has to be quicker in reacting and could give a very important contribution to doing this, and were also interested for example, in seeing gavi be completed in germany so successfully then we dealt with Security Issues this morning. Germany celebrating the 25th anniversary of reunification. This would not have been possible not achievable without transatlantic partners and the support of the United States of america, and well be grateful for this. One case in point, it is well worth the effort to stand by ones values for decades to pursue longterm goals and not relent in those efforts. After we thought in the 90s things would turn out more easily, less complicated. We see ourselves confronted with a wealth of conflicts. We worked together in afghanistan. We talked about business as well. Germany has decided in its fight against is to give help to deliver Training Missions to deliver also weapons, if necessary, we Work Together the iran nuclear program, where we enter into a krush phase of negotiations. One particular priority was given to the conflict between ukraine and russia this morning. We stand up to the same principles of inviolability for somebody who comes from europe if we give up this principle then well not be able to maintain the peaceful order of europe that weve been able to achieve. This is not any old point its an essential, crucial point, we have to stand by it and russia violated the territory of ukraine in two respects in crimea and also in donetsk and luhantsk. We are called upon to come up with solution, not in the sense of a mediator, but we stand up for the interests of the european peaceful order, and this is what the french president and i have been trying to do over the past few days. Were going to continue those efforts and im grateful that throughout the ukraine crisis we have been in very, very close contact with the United States of america and europe on sanctions, on diplomatic initiatives, and this is going to be continued. And i think thats indeed one of the most important messages we can send to russia and need to send to russia. We continue to pursue a diplomatic solution, though we have suffered a lot of setbacks. These days, well see whether all sides are ready and willing to come to negotiated society. Ive always said i dont see a military conflict but have to bring about a diplomatic solution, so theres a whole host of issues that we need to discuss over lunch we will continue to talk about climate protection, about Sustainable Development, and the Sustainable Development goals. So yet again, thank you very much for the very close cooperation, very close coordination and the possibility to have exchange of views on the crucial issues. Stuart Angela Merkel wrapping up opening statement. I dont think she said anything new in terms of arming the ukrainians or new sanctions on president putin of russia. Congressman Scott Garrett, you agree with that . Nothing new by the president or her as well as we were saying nothing new out of press conference. Theyre going to have lunch in the afternoon and talk about the issues again. Stuart Angela Merkel saying europe is standing on the principle. Dont violate territory, the barrel of a gun. Right back into the questioning here, lets go. Stress that u. S. And europe need to have cohesion on the issue of sanctions and dealing with the ukraine, and yet the administration is discussing sending lethal weapons to ukraine, which is very different from what the chancellor said over the weekend. I was wondering whether this is a good cutback or a real reflection of difference of views on the situation on the ground. And more broadly, if theres no agreement this week what lies ahead are . We look at a broader set of sanctions . What makes those set of sanction will change the russian president s mind more than the current one . Well let me start with the broader point. I think both angela and i have emphasized that the prospect for a military solution to this problem has always been low. Russia obviously has an extraordinarily powerful military, and given the length of the russian border with ukraine, given the history between russia and the ukraine, expecting that if russia is determined that ukraine can fully rebuff a russian army, it is unlikely. But what we have said the International Community working together can ratchet up the costs for the violation of the core principle of sovereignty and territorial integrity. Thats what weve done. Russia paid a significant cost for actions first in crimea and now eastern ukraine. It has not yet dissuaded mr. Putin from following the course that he is on. But it has created a measurable negative impact on the russian economy, and that will continue. My hope is that through these diplomatic efforts, those costs have become high enough that mr. Putins preferred option is diplomatic solution, and i will not prejudge whether they are successful. If they are successful it will be in part because of the extraordinary patience and effort on chancellor merkel and her team. If they are not, then we will continue to raise those costs, and we will not relent in that, and one of the things im very encouraged about is the degree to which weve been able to maintain u. S. European unity on this issue. Now, it is true that if in fact diplomacy fails, what ive asked my team to do is looking at other options. What other means can we put in place to change mr. Putins calculus. And the possibility of lethal defensive weapons is one of those options that is being examined. But i have not made a decision about that yet. Ive consulted with not just angela, but will be consulting with other allies about this issue. Its not based on the idea that ukraine could defeat a russian army that was determined. It is rather to see whether or not there are additional things we can do to help ukraine bolster defenses in the face of separatist aggression. But i want to emphasize that a decision has not yet been made. One of the bigger issues that were also concerned with making sure the ukrainian economy is functioning and president poroshenko and the Prime Minister can continue with the Reform Efforts that theyve made, and im glad to see because of our cooperation and efforts, were starting to see a package come together with the imf with, the European Union and others that can help bolster the european economy so they have the space to continue to execute some of the reforms and anticorruption measures that theyve made. One of the most important things we can do for ukraine is help them succeed economically, because thats how people on the ground feel this change, this transformation inside of ukraine. If that experiment fails, then the larger project of independent ukraine will fail. So were going to do everything we can to help bolster that. But theres no doubt that if, in fact, diplomacy fails this week, theres going to continue to be a strong unified sponz between the United States and europe. Thats not going to change. There may be areas where there are tactical disagreements, there may not be. But the broad principle that we have to stand up for, the not just ukraine but the principle of territorial integrity and sovereignty is one where we are completely unified. French president and i have decided to make one further attempt to make progress through diplomatic means. We have the minsk agreement that has never been implemented, quite the contrary is true. The situation has actually worsened on the ground so now there is a possibility to try and bring about a ceasefire and to also create conditions that are in place where you have not every day civilians dying, civil victims that fall pray to this, and im absolutely confident that we will do this together. I myself actually would not be able to live without having made this attempt. So there is anything but an assured success in all of, this i have to be very clear about this, but if at a certain point in time one has to say that a success is not possible even if one puts every effort into it then the United States and europe have to sit together and try and explore further possibilities what one can do. Let me point out Prime Ministers of the European Union last week tasked the commission to talk about further possible sanctions. On the issue of what is effective and what is not, im somewhat surprised sometimes, just let me mention iran, for fairly long period of time, we have had sanctions in place, there people havent questioned them. They are fairly successful with the negotiations on the nuclear program, so i think in parallel, i think it was a very good thing to put some cost onto the russians the sanctions that we agreed on we see also that russia seems to be influenced by this, and this is why im 100 behind these decisions. As to the export of arms i have given you my opinion. But you may rest assured, no matter what we decide the alliance between the United States and europe will continue to stand, will continue to be solid, even though on certain issues we may not always agree but publish it be it on ukraine and russia it be on combat in terrorism on the trrl stage, be it on partner issues that has stood the test in time. In europe, we are very close, the Transatlantic Partnership is indispensible and i can say this on behalf of my colleagues in the European Union. Sorry, i have to call you myself. From dpa, the german press agency. President , you have not made a decision whether weapons ought to be delivered to ukraine. What would be the red line that needs to crossed for you to decide an armament of the Ukrainian Army . And what do you think will this hold by way of a promise because as the chancellor said, and what can the Nobel Laureate obama do as a matter of this conflict. And president putin demanded that the government in kiev negotiate directly with the separatists. When do you think the right moment has come to do this and with looking at all of the big issues that is discussed, this breach of confidence due to the nsa affair of the u. S. German relations. Has that played a role today . Did you want to go first . I can gladly start. The question as to how one assesses the effectiveness of certain measures has been dealt with. The president has not made a decision, as he said whats important for me is we stand very closely together on the question of a new renewed diplomatic effort. We keep each other informed. Were in close touch, and nobody wishes more for a success than the two of us who stand here side by side. But this would also mean not only having a ceasefire in place, but to also over and above that having certain moves in place, and you said the russian president said in direct contract. These are contracts that exist through the Contract Group and the problem of the last few days and the problem of the last meetings actually was rather more than there was not that much of an end result. If they met at all, or if representors from donetsk were there at all. Sometimes they did not arrive. This is the call of the minsk agreement, there are local elections in accordance with the constitution, and the outcome of that is you have representatives, authorities that can speak for those regions, and the ukrainian president has paved the way for this, to giving specific status to the lugansk and donetsk, and they are an essential point to say maybe there can be contacts even without a trilateral group. I can very well understand the ukrainian side that on the territory, they consider to be part of their territory and anything else would violate the territory integrity that they see elections take place there and that has been stated by president putin, that he wishes to see the elections happening there. On the nsa issue, i think there are still different assessments on individual issues there, but if we look at the sheer dimension of the terrorist threat, we are more than aware of the fact that we need to Work Together very closely, and as german chancellor i want to state clearly that the institutions of the United States of america have provided us and continue to provide with us a lot of very significant, very significant Important Information and we dont want to do without this. There are other possibilities through the cyberdialogue to continue to talk about the protection of privacy versus Data Protection and so on and security, but this was the basically combating terrorism was in the foreground today. Providing lethal weapons to ukraine, its important to point out that we have been providing assistance to the Ukrainian Military grjs thats been part of a longstanding relationship between nato and ukraine, and our goal has not been for ukraine to be equipped to carry on offensive operations, but to simply defend itself. And president poroshenko has made it clear, hes not interested in escalating violence. Hes interested in having his countrys boundaries respected by its neighbor. So theres not going to be any specific point which i say, ah, clearly lethal defensive weapons would be appropriate here. It is our ongoing analysis of what we can do to dissuade russia from encroaching further and further on ukrainian territory . Our hope is that thats done through diplomatic means, and i want to emphasize here once again for the benefit of not just for the American People but for the german people we are not look for russia to fail. We are not looking for russia to be surrounded and contained and weakened. Our preference is for a strong prosperous vibrant confident russia. That can be a partner with us on a whole host of global challenges. Thats all i operated throughout my first term in office. Unfortunately, russia has made a decision they think is bad for them strategically. Bad for europe, bad for the world. And in the face of this aggression and these bad decisions. We cant simply try talk them out of it. We have to show them that the world is unified and imposing a cost for this aggression thats what were going to continue to do. With respect to the nsa, ill make this point very briefly, theres no doubt that the snowden revelations damaged impressions of germans with respect to the u. S. Government and our intelligence cooperation. And what i have done over the last year, year and a half, is to systematically work through some of these issues to create Greater Transparency and to restore confidence not just for germans but our partners around the world, and weve taken some unprecedented measures, for example, to ensure that our intelligence agencies treat nonu. S. Citizens in ways that are consistent with due process and privacy concerns. Theres something they put in a president ial order and has not been ever done not only by our intelligence agencies but i think by most intelligence agencies around the world. There are going to still be areas where weve got to work through these issues. We have to internally work through some of these issues because theyre complicated, difficult. You know, if we are trying to track a network that is planning to carry out attacks in new york or berlin or paris, and they are communicating primarily in cyberspace, and we have the capacity to stop an attack like that but that requires us then being able to operate within that cyberspace, how do we make sure were able to do that, carry out those functions, while meeting Core Principles of respecting the privacy of all our people. And given germanys history, i recognize the sensitivities around this issue. What i would ask would be that the german people recognize that the United States has always been on the forefront of trying to promote civil liberties, that we have traditions of due process that we respect, that we have been a consistent partner of yours in the course of the last 70 years and certainly the last 25 years in reinforcing the values that we share, and so occasionally i would like the german people to give us the benefit of the doubt given our history as opposed to assuming the worst assuming that we have been consistently your strong partners and that we share a common set of values. If we have the fundamental Underlying Trust there are going to be times where there are disagreements and both sides may make mistakes and there are going to be irritants like there are between friends, but the underlying foundation for the relationship remains sound. Christie parsons . Thank you, mr. President. The Iran Nuclear Negotiators have missed two deadlines. Should the upcoming march deadline for talks be the final one . And what are the circumstances which you think it would be wise to extend the talks . Also, sir, some have suggested that you are outraged by the israeli Prime Ministers decision to address congress. Is that so . And how would you advise democrats who are considering a boycott . First of all, we understood i think from the start, when we set up the interim agreement with iran, that it would take some time to work through incredibly complex issues and a Huge Trust Deficit between the United States and iran, and the world and iran. When it comes to the nuclear program. So and i think there was always the assumption that although the interim agreement lasted a certain period of time, that we would probably need more time to move forward. The good news is that there have been very serious discussions, that time has been well spent. During this period of time issues have been clarified, gaps have been narrowed the iranians have abided by the agreement, so this is not a circumstance in which by talking theyve been stalling and meanwhile advancing their program. To the contrary, what we know is the program has not only been frozen but with respect to for example, 20 enriched uranium, they reversed it. Were in a better position than before the interim program was set up. Having said all, that the issues are sufficiently narrowed and sufficiently clarified. Were at a point where they need to make a decision. We are presenting to them in a unified fashion, the p 5 plus 1 supported by a coalition of countries around the world are presenting to them a deal that allows them to have Peaceful Nuclear power, but gives us the absolute assurance that is verifiable they are not pursuing a Nuclear Weapon, and if, in fact, what they claim is true, which is they have no aspiration to get a Nuclear Weapon that, in fact, according to Supreme Leader it would be contrary to their faith to obtain a Nuclear Weapon. If that is true, there should be the possibility of getting a deal. They should be able to get the yes, but we dont know if thats going to happen. They have their hardliners, they have their politics, and the point i get to christie at this juncture i dont see a further extension being useful if they have not agreed to the basic formulation, and the bottom line that the world requires to have confidence that theyre not pursuing a Nuclear Weapon. Now, if the framework for a deal is done if people have a clear sense of what is required and theres some drafting and ts to cross and is to dot, thats a different issue, but my view, and i presented this to members of congress is that we now know enough that the issues are no longer technical. The issues now are does iran have the political will and the desire to get a deal done . And we could not be doing this were it not for the incredible cohesion and unity thats been shown by germany, by the other members of the p 5 plus 1, which i should acknowledge includes russia. That is an area where they served a constructive role, and china served a constructive role, and there has been no cracks in this on the p 5 plus 1 side of the table. And thats a testament to the degree which we are acting reasonably in trying to actually solve a problem. With respect to Prime Minister netanyahu, as ive said before i talk to him all the team. Our teams constantly coordinate. We have a practice of not meeting with leaders right before their elections, two weeks before their elections. As much as i love angela if she was two weeks from an election, she probably would not have received an invitation to the white house, and i suspect she wouldnt have asked for one. [ laughter ] so, you know [ laughter ] so you know, this is just, some of this just has to do with how we do business and i think its important for us to maintain these these protocols because the u. S. Israeli relationship is not about a particular party. This isnt a relationship founded on affinity between the labour party and the likud party, this is between the u. S. Relationship and has to do with the unbreakable bond that we feel and our commitment to israels security and the share of values that we have. And the way to preserve that is to make sure it doesnt get clouded with what could be perceived as partisan politics whether thats accurate or not, that is a potential perception and thats something we have to guard against. Now, i dont want to be coy, the Prime Minister and i have a real difference around iran iran sanctions. I have been very clear, and angela agrees with me, and David Cameron agrees with me and the others who are a member of the negotiations agree that it does not make sense to sour the negotiations a month or two before theyre about to be completed, and we should play that out, if in fact we can get a deal we should embrace that if we cant get a deal, well have to make a set of decisions and as ive said to congress, ill be the first one to work with them, to apply Even Stronger measures against iran but whats the rush . Unless your view is that its not possible to get a deal with iran, and it shouldnt even be tested, and that i cannot agree with because as the president of the United States im looking at what the options are if we dont get a diplomatic resolution, and the options are narrow and not attractive. And from the perspective of u. S. Interestis and believe from the perspective of israels interests, i cant speak for, obviously, the Israeli Government it is far better if we can get a diplomatic solution so there are real differences, substantively, but thats separate and apart from the whole issue of mr. Netanyahu coming to washington. All right . Ms. Merkel you just said the question is what will be effective in the ukrainian crisis, and diplomacy, as you said yourself has not brought about that much of a progress, can you understand the impatience of the americans when they say we ought to now deliver weapons, and what makes you feel confident that diplomacy will carry the day in the next few days and weeks, on greece, also i have to ask you, what is your comment on the most recent comments of the greek Prime Minister who says lets end those programs and im going to stand by the promises i made during the election campaign. How do you envisit the further cooperation with the greek government, and to you, mr. President , i address the question, there is quite a lot of pressure by members of your government who say weapons should be delivered to the ukrainians. Now you yourself have said you want to ratchet up the cost that putin has to bear, and then make him relent and give in maybe, and you said all options have to be on the table, apparently also weapons what makes you so sure that the weapon will not only go into the hands of the regular Ukrainian Army but perhaps get into the hands of the separatists of militias on the ukrainian side accused by the Amnesty International and others of having violated human rights . Thank you. Whenever have you political conflict such as the one that we have now between russia and ukraine, but also in many other conflicts around the world, it has always proved to be right to try again and again to soften the conflict. Weve spoken at some length about the iranian conflict. Here too, we are expected to try time and again, and explore all of the options on the table and gone back and forth and one has to look again. Look at just the middle east conflict, for example, how many people have tried to bring about a solution to the conflict and welcomed it every time, and im going to participate and support it every time because i think every time it has been well worth the effort. When you have a situation where every night you see people dying, civilian casualties you see the dying conditions under which people live. It is incumbent upon us as politicians, we owe it to the people to explore every avenue until somebody gives in but weve grown up on the conditions, i have to point this again nobody would have dreamt of german unity. The people who said in west germany, remember, they said, well, should we keep citizenship of germany for the gdr . Theyve been criticized by people as some who have a revenge ideas and think of president reagan when he said mr. Gorbachev, tear down this wall standing in front of the gate. How could he have said that . He was right. I cannot give you a guarantee of the wednesday or further talks, maybe nothing will come out of it. Were called about to think about a new possibility, and since we thought about every step of the way will this be effective or not, well continue to do so. A lot of things have to be thought about and im very glad that with the american president , ive always been able to put all of the cards on the table and discuss the pros and cons in my speech in munich, i gave you clearly where i stand. But well continue to try it. I think thats why were politicians, thats why we chose these professions. Others have to do other things. Researchers have to find things to explore, and we have to see the wellbeing the prosperity of our people is ensured. We never have a guarantee that the policies will work we have the effect sorry, greece i almost forget. Yes. On wednesday theres going to be a Euro Group Meeting, and i think what counts is what greece will put on the table. At that Euro Group Meeting or perhaps a few days later. And the german policy ever since 2010 has been aimed at greece staying a member of the eurozone. Ive said this time and again basic rules have always been the same. Put in your own efforts and on the other side youre being shown solidarity as a quid pro quo. The three institutions of the troika the ecb, and the imf have agreed programs, these programs are the basis of any discussion we have. Ive always said i will wait for greece to come with a sustainable proposal and well talk about this. The point angela made i think is right, which is we never have guarantees that any particular course of action works. As ive said before by the time a decision reaches my desk, by definition its a hard problem with no easy answers, otherwise somebody else would have solved it, and i could never even hear about it. The issue that you raised about can we be certain that any lethal aid that we provide ukraine is used properly doesnt fall into the wrong hands does not lead to overaggressive actions that cant be sustained by the ukrainians, what kinds of reactions does it prompt not simply from the separatists, but from the russians . Those are all issues that have to be considered. The measure by which i make these decision says, is it more likely to be effective than not . And that is what our deliberations will be about. But, what i do know is this that the United States and europe have not stood idly buy, we have made enormous efforts, enormous investments of dollars, of political capital, of diplomacy, in trying to resolve this situation. I think the ukrainian people can feel confident that we have stood by them. People like Vice President biden and secretary of state kerry have spent countless hours on this issue, as has angela and her team on the german side and just because we have not yet gotten the outcome that we want doesnt mean that this pressure is not over time making a difference. I think its fair to say that there are those inside of russia who recognize this has been a disastrous course for the russian economy. I think mr. Putin is factoring that in but understandably until the situation is entirely resolved, were going to have to try Different Things to see if we can get a better outcome. What i do sudden we will not be able to succeed unless we maintain the strong transatlantic solidarity thats the hallmark of our National Security throughout the last 70 years, and im confident that ive got a great partner in angela in maintaining that. Thank you very much, everybody. Stuart you have been watching germans chancellor Angela Merkel and president obama discuss complex issues. Mark lannier is with us a top lawyer. They have a way of boiling down complexity in a way that understand isable to all of us. Boil it down. On the ukraine issue theyre speaking to russia, and they want russia to hear this message. We are going to continue on this course through this next round of negotiations but if the rounds of negotiations do not work then america is going to be pressing its allies to try and do something more. Thats the whole message he wants russia to hear. In other words were doing the same thing weve been doing until this next round of negotiations. Stuart he said there was no decision on nonlethal defensive weapons being supplied to the ukrainians no decision. Thats right. No decision. One of the questions you could ask is why are they having the press conference . Whats new. There was nothing new announced except we are united we are united. I counted 12 times we are united and if the discussions dont help in the next week or so then well revisit. Stuart okay, congressman Scott Garrett, your take . My take is very little substantive. The two things is he worked well to assure our adversaries and undermine the confidence of our friends and allies on the ukrainian situation. Stuart that is strong stuff congressman. Undermine our allies and assured our adversary. Stuart that were not going to do anything. Take ukraine, he assured russia when he said at the outset, look were not going to be involved militarily because they have a border. They are wondering exactly what the u. S. Commitment is there and with regard to the middle east, what was his statement over there with regard to iran, whats the rush . I assume at the next negotiation table, iran will come to the table and says to the United States to quote the president , whats the rush . Stuart many times on this problem, the opinion has anyone expressed that president obama will accommodate an iranian Nuclear Weapon, do you agree with that . Its the definition of a combination. Stuart theyll live with it. We will live with it. We will let it happen . Ive heard that before part of the definition of whats the rush is how he allows them to get to that point. Stuart what do you think is the most important point in this entire News Conference. Most important point is there is no american leadership, that america will succumb to whatever the feeling is in europe for europe, and whatever the feeling is in iran for iran. Stuart check the big board, we listen to the president and Angela Merkel for approximately 50 minutes. The dow was down 50 points when it started. Down 42 points now. I suspect there would have been significant market move if something new and perhaps dramatic had been announced at that News Conference. No such thing and were pretty much where we started from before that press conference began. Look at the price of oil as of right now. Its up a buck. It was up a buck just before that News Conference began. So again no impact on whats going on in the marketplace from that press conference. Am i going to move onto something completely different . Yes, i am. When i say different, i mean different. How about caddies suing the pga . Why are we doing this . Why are we going to the story . The lawyer with us is representing some of the caddies who want to get paid for wearing those logos of commercial corporations on their vests. Mark lannier, you are representing the caddies . Absolutely. Stuart what a transition from greece and ukraine and iran to caddies, go. Its all about money regardless, its all about money. Im willing to stand up and be an adversary in the system and say look, if the caddies are wearing the bibs and required to be walking billboards they ought to be entitled to some of the money thats being paid to that advertiser. Stuart so youre suing right . Yes. Stuart for every 100 that the corporation pays to the pga or whom so ever, how much of the 100 to you want to go to the caddie . Whatever is a good and favorable number. Stuart you asked for it what is the number. We want it to be determined. Economists ought to run the numbers, see what the pga is making off of, it i dont know, see what a substantial amount and fair amount should be . Pay the caddie something. You are bludgeoning the opposition to death. You are going to make them pay out a fortune. From economists study how much should they get . All they have to do is open up the books and show us. This is easy, stuart you wouldnt sit there and let fox news put an advertisement on your chest without stuart yes, i would, yes, i would they need to come to me well fix, that buddy. Stuart im inclined to say were totally out of time. We have a minute left. Congressman Scott Garrett is with us i dont know whether you play golf, but you been lawyers and predatory aspects in the United States. Any comment congressman . When we leave today, i assume somewhere on the streets well see people wearing bill boards advertising the businesses or trucks that drive advertising something, so does the driver of that truck also get a percentage of whats on the back of that truck . Because hes employed. They are employed arent they . The people walking up and down with the billboard, you bet they are getting paid for that. Stuart they are caddies. They are required to wear those. Stuart thats part of the deal, they know the deal going in. The caddies are hired not by the pga but the golf pros. It was fun. Hey, i love you. Stuart we are out of time. Congressman Scott Garrett thank you for joining us. Mark we may see you again. My time is up but it was great to be back. Here is deirdre bolton. Good to be on a golf conversation, thank you very much, stuart varney. Hsbc shielding accounts worth 100 billion. What it means for cybersecurity efforts . Millions of cars and trucks vulnerable to hackers according to a new report drivers safety and privacy are at risk. And last nights Grammy Awards signaling a big shift in music and media. For his take we bring in porter bib, media Tech Partners managing partner and former publisher of Rolling Stone magazine. Great to have you. You hung in there for the 3 1 2 hours. I had to expect to watch Better Call Saul because im a breaking bad fan. Youre a breaking bad fan. You see there is a slow start. I think its dont call saul right now unless they do