Lets take a quick look at the markets after a long weekend not after a long weekend. A week. Nasdaq up 25 points and the s p up. A longer weekend than usual. It was longer for me because i wasnt here friday. Here are the big stories. Greek banks reopening three weeks after they close. Capital controls remain in place including limits on withdrawals and no word yet on when the stock market might reopen. Although some are trying to play this with the etf and trades here. Increases in value and a tax agreed to on the new bailout terms have now taken effect on things like coffee and tea. Well hear more from Michelle Carusocabrera pulling double duty. Lets take a look at asia. It was another volatile session. The shanghai stocks closing higher. But closed up just shy of 1 . There have been a media report earlier in the session suggesting the government was studying how to end its bailout. Well continue to watch the ongoing volatility in china. Every day there seems to be a new story there. Also check out gold. Stunning action. Trading below 1100, since the First Time Since 2010 joe, people were asking if there was a fast finger trade taking place. There were 5 tons put on the market at once. Last week we said are we going to see below 1100 . We already talked at possibility of seeing one zero. But to see that in such a short period of time just looking at the fed chart and plus when you get to a certain level, thats when all of that has stopped. Its a hit and then down we go. But whether this is indicating a lower grid mark and tweeting this morning indicating deflationary figure reemerging globally with a lot of comphodaut fot of commodity its. Some stocks to watch. Barclays reportedly plans to cut more than 30,000 jobs in two years. Is this according to the times of london. The bank fired the ceo. And then the deal Lockheed Martin is reportedly agreeing to buy United Technologies kasikorsky business. The price tag is 8 billion. Sa korikorsky known for the black hawk helicopter. And lockheed makes a lot of things. And the ceo will talk about why sikorsky wasnt manage that utx wants to keep in its portfolio. How Many Companies are going to buy it. With the helicopter you saw you saw the rare metals i think it may have been im not sure lesley stahl on 60 minutes, anything you want to build, they already know all about, mostly defense stuff, but now they own the world here if the president sleeps thats the point, he probably wouldnt sleep very well there. Of course we never other deal news syngenta reportedly planning a series of meetings monsanto offering to buy sinyngenta 45 billion. Ceo hugh grant, not the actor reports on it. I like friendly deals so you know, we need the collaboration. And theres a lot of miles to travel that this one. Id like to talk to a real person across a real table. So weve got work to do. That is a strong accent. Wow. Friday, i said when i was leaving, i said i hope you do the squawk box what you did for see, i had thats almost funny, almost. That is funny. What was the recession to that . He liked and he laughed and goes yeah, thats it. Syngentas board has posted in hollywood deal news owners of miramax reportedly exploring a sale of the company. The company include Goodwill Hunting and pulp fiction. Reports say it could go for as much as 1 billion. We also have a busy week ahead in earnings central. Morgan standingley is the company to watch. This morning, well hear from ibm after the bell. Hasbro and halliburton reporting as well. Lets check the markets right now, we would have a positive open as indicated in earlier trading. S p up by 3 points. Down by 27. Nasdaq up by 5, of course. That is coming on the back of a day on friday when we saw nasdaq hitting a record high. Well see if that can continue. Much of that will hinge on what were seeing in europe. Just positive today as were getting comments out of german chancellor merkel or whether or not the deal will be successful. You can see what the comments are doing to the markets. Largely in the green. In asia lets take a look at where were trading there. We talked china earlier on. Hong kong and shanghai and australia up in the green. Oil, as we should mention, wti has been neg negative. And brent is up. The tenyear were seeing about a one basis point rise in the yield there to about 2. 36. And the dollar actually has been up today. A fractionally were watching the euro as well. 1. 08 is where it is against the dollar. When i checked the tenyear this morning on the way in it has all the european sovereigns there as well. Were way above that. Almost a point. I mean theyre down in 1. 6, 1. 7 area which makes you wonder. This is all since september. So whats happening in gold today. Yeah. Yellen said they are, basically. Yeah, they are. Theyre doing a quarter, i dont care what well see her at sometime. She did argue for doing it sooner and more gradually is what she was saying. Because i dont talk about what theyre going to do. I talk about what they should do. Okay. Is there they should definitely do a quarter. A quarter is not going to kill you. Get it started and theyve even skipped some. Lets see how it goes. Get a positive month, something other than zero. Eye werewith the imf and the word bank saying i told you so you dont think thats extra pressure until december at the very least . Watching the imf and world bank i think we got to bring back my man, straus con. He was good. Thank you. Why, whats going on in your greece continues to delineate the Global Market headlines. Banks are opening today. Very limited functionality. Michelle carusocabrera is here. Made her way back from athens in our Washington Bureau this morning. I was excited that youre going to be here arent you going to be onsite with us . Yes, im onsite with you. Joe. Looking forward to it. I dont know whats going behind the scenes. Did you want to come home a little earlier, is there some things going on there . I have been away a month, joe. Months go fast. I remember talking about when you were going to go. Then you went and then you never came back . I know the boss was trying to get me to go two weeks earlier. Once were there, were going to be there a long time so lets hold up. Right. You know all the kabuki dancing and here we are where we knew weed be most likely. And proof that all stories merge into one, joe, Dominique Strausskahn is going to influence the cuban government. Love him or hate him, he was a good head of the imf. Good at a lot of things. Anyway whats the headlines . Greece. You know we got to go you got to talk about this other stuff. Did you ever have to wait in an atm line you couldnt tell us when i asked you from here . No we brought a lot of cash with us, knowing that. What in the lining of your suitcase or anything . No, just carrying it. Wed been in cyprus without cash and it was a real problem. We werent going to make that mistake. Greece banks reopen today, the functionality of the banks is extremely crippled. It used to be you could take out 60 euros now 420 euros in a week. Whats the difference if you can take out 420 at once if your account. The elderly we watch struggle with inputting pins in atms, et cetera. And also people who had kept cash inside the safety deposit boxes. But youre still not abe to transfer money overseas which is a dramatic thing for greece. If youre a company relying on imports as they do you can still not overpay your suppliers. All of that restriction continues. Because of that inability to transfer money overseas that means that the Greek Stock Market could not function as it should. Stocks dont trade, bonds dont trade. Angela merkel before going on vacation was at the annual conference before doing the summer holiday. She indicated no haircut for greece although hinted at the possibility of extending maturities and lowering interest rates. Only when greece negotiates the bailout to the First Successful review with the apple mentioned imf, i want you to have one take away from this report. The minute Angela Merkel says its okay for greece to get a haircut, greece is done for. Greece will be leaving the euro. Remember within the german mindset, you cannot get a haircut. You cannot get debt forgiveness. You can take longer to pay your brethren back but a haircut is not permitted. The reason the finance minister is saying greece needs a haircut is because he wants greece to leave the euro. So shes committed to keeping greece in the euro thats why shes say nothing classical haircut at this point. Wow, were going to talk to our news maker of the hour joining us former ecb president jean claus troshet. I think we thought this was the most likely outcome at this point, mr. President. And at this point, we dont need a haircut, but if you were to do some zero coupon 100year extension, that the just like a haircut, isnt there . Yes i think were really contemplating on it. Because its not political reasons. Its extremely difficult. So many many government and parliament in europe lose money. Losing money. And how the imf is very keen on not losing money at all. So that does not prevent and having said that that you mention even more the duration of the loan. In that that would be considerable help. Additional help. I think we should not contemplate too much on the issue which is of course very very, spicy. But the reality of the situation is to implement the task. And that is absolutely key. Right. And might be the one positive outcome. Do you think if some of the Structural Reforms are put in that greece will be in a better position in the next couple of years . First of all, i hate to think that there are a lot of good things in what has been agreed upon. The idea that everything should be accelerated is of extreme importance. Also lets remember before the change with the cause of action of greece the International Community agreed upon the fact that greece was back to growth the imf established still in april projections that were giving greece 2. 5 of growth this year. And 2. 7 next year. So a lot has been lost in the, say, hesitation of greece during the last six months. But i hope very much that if that is we could be become to present day figures, after having really unfortunate time and also growth due to the adaptations. With now some of the comments mr. Schauble and i just wonder if you think there were certain parts of the Merkel Administration that really didnt want an exit and thought that that was probably the best outcome . Or was that in your view, i dont know if you use the term good cop bad cop, was that just to prove the point that they were serious . Or do you think there were certain contingencies that wanted greece out. First of all, in any democracy democracies, you have varying sensitivities. Since the very beginning of the debt crisis i could see a number of countries including germany, you had the sentiment that some countries should leave. And it was certainly not shared by the government. Certainly not shared by president schauble but it was very much in the air of the parliament because it was very much in the air of public debate. Not to mention the german party. Of course you had this success of stage. And the successes and that we should think again that greece was the last one to succeed because it started from a low point. With sensitivity, coming from athens the kind all in a diplomatic situation. There were some that came from athens and did an additional sensitivity. All taken into account, the position of the German Government and the position that made sense. And in disguise and the decision which has been taken which is obviously a decision to maintain that in the euro. And to expect from these, that these would be back on its feet and back to growth and job creation which is the okay. Mr. Trichet, we appreciate your time today. We will continue to talk to you about this as this story never ends to some degree. Thank you. When we come back donald trump making waves again this weekend. This time for comments about john mccains war record and the backlash now coming from his own party. Were going to talk about it when we return. But first, heres a look back at this date in history. When you get up to 50 off thousands of hotels with travelocity it means you can also afford to get up to 50 swedisher swedish massages. Making it the place to find a place for summer escapes. Go and smell the roses. Ah aflac . Aflac i thought you said this guy was the best . Oh, hes a horrible stylist. Gah . But hes the best at paying claims fast really. Mmhmm. Paid mine in just one day. One day . Yea. Aaaflaaaac in just one day, we approve and pay. One day pay, only from aflac. Welcome backs to squawk box this morning. A major step forward in the fall in the relationship between the u. S. And cuba. The Cuban Mission in washington, d. C. Will officially become the embassy. The American Embassy will also open today in havana. It will be the first time in 54 years that respective embassies have been reopened in either country. Meantime to political news this morning. Donald trump refusing to apologize for his comments that he made over the weekend about senator john mccains military service. More from washington. Good morning, john. Good morning, andrew. You read it, you turn on the tv, youd think it was over but some people would say its over before it began. So where are we . Well, look, donald trump has managed to seize the spotlight in the race for a few weeks now. He continues to do that with the comments he made about john mccain. And the question is whether he has jumped the shark and soen the seeds of his own. If you ever thought that donald trump had a serious chance of winning the nomination. Hes not a politician but he is a chairman who has a knack for drawing that and instinct to respond when he got to a forum in iowa. This is where the republican field which is going to hold him back in the form of alienating donald trump. Now, youve got the wall street journal, a terribly critical column this morning, trump and his apologists applauding him when the is death knell . If hes going to get out when would he get out . I suspect he would get out if he suspected the whole thing was futile. As long as his poll numbers are where they are, which is second place nationally, i cant imagine that he would pause himself to leave the race. Its very small staff. Hes doing it with his own money. Hes got plenty of money going around. Hes spending half the time on campaign, half the time on business. Everybody else more than a fulltime deal. If the numbers start going down you know, there usually is a moment in an a candidate like him, john mccain in the last cycle, where the celebrity and the attention sort of builds to a peak and then the air goes out of the balloon . Is the balloon now hurt and the air is in the process of going out . Well find that out in the next couple of weeks. John we were asking about his comments on immigration. You point out that his poll numbers, even given those comments were improbable. But when do we get an indication that these comments have some sort of resonance outside the beltway . Do you see it impactinging him inghim in the polls . Well theres a segment of the Republican Party that does like very much the things that he was saying about immigrants. Talking about, in the Republican Party, about john mccain not as john mccain the political figure but john mccain the veteran that spent five years in captivity, thats a different thing and has the potential for alienating some of those people who cheer him on immigration. Weve got a couple weeks until the first debate which will take place on fox in early august. By all accounts donald trump would be in that debate. He qualifies for it bit poll standings. As hes not just within the top ten. Hes within the top two. So i suspect that moment might be the first time when a large audience sees him interacting on a big stage with other candidates. And how he treat them and will determine how voters react at least initially over the first month after these comments. Theres plenty that you could have said probably about John Mccain John about i dont know, about the way the election is going. He said some of that too. He did. But the weird i remember the selection, it was almost a selection that looked like he felt like he didnt have a chance and got elected on a hail mary pass. So you could do a lot of that stuff. Right. And you could spend five hours in a political camp and did you serve, john . I did not. Anybody that serves i cant even fathom that. So thats a tough one. Well as bobby jindal said yesterday when donald trump spends five years in a camp he can comment. Were not going to cover this anymore and then he does that there it is, the second story in the huffington post. Didnt he put it in the entertainment section again . I think they put it under the entertainment banner. Thats so stupid. Theres about three democrats Bernie Sanders shouldnt be under the entertainment section of the new york times. Coming up, getting ready for vacation thank you john but dont want to leave the fourlegged members of the family home alone new yorks jfk has a solution. Details on a luxury animal terminal. Complete with flat screens and tvs for dogs. If you cant stand the heat, get off the test track. Get the mercedesbenz youve been burning for at the summer event, going on now at your authorized mercedesbenz dealer. Hurry, before this opportunity cools off. Share your summer moments in your mercedesbenz with us. By the time Police Arrive on a crime scene they could have little to go on. A vague description. A single piece of evidence. A partial plate number. With an app from ibm officers can now access over a billion police documents to find hidden connections and identify potential suspects. Ibm analytics helps one hundred thousand officers work smarter every day. Welcome back to squawk box. A couple years ago, you guys might remember this but at a benefit for a bunch of wall street people the Robin Hood Foundation the comedian john oliver was said the single biggest middle finger to a weak Global Economy is the fact that u. S. Consumers spend over 4 million on costumes for their pets. For halloween. That was 48 million that jfk is reportedly spending on a luxury terminal for animals. Its going to be called the ark, after noahs ark, from the niebl. Bible. Oh, thats so cute. 20,000 square feet just for dogs. Its