Ukrainian currency has been battered. And a surprising move from the ecb, which announced it is cutting off a key lifeline to greeces banks. The ecb says it will restrict loans. Shares of greece bank plummeted. Finance minister Yanis Varoufakis is in berlin where he will meet one of his main antagonists. Brendan bad news is at them is your health insurer. Hackers of stolen data. That data includes names birthdays, and Social Security numbers. No word on how the breach occurred or when it was discovered. The fbi is investigating. One investigation to another. Ubs is again under federal investigation. The u. S. Is looking into whether the bank helped americans and evade taxes. The probe reportedly centers on bearer securities that can be used by catch. Ubs solved a separate case with the Justice Department six years ago, tom. Tom in the soap opera known as radioshack, the bankruptcy can be coming in hours. The beleaguered retailer reported in an agreement to have Brendan Greeley make one more radio with transistors, not semiconductors. Brendan i made a robot, and it did not work. Tom the deal calls for radioshack to sell stores to sprint and remember, amazon was rumored for some of those stores will of the remaining 2000 out little be expected to be closed. Brendan this is a sad moment when what used to be a Company Becomes a real estate play. Tom absolutely. A moving data check, i literally had to rewrite it twice. Euro advances of all the news in eastern europe. Nymex crude, you saw the pullback yesterday 49. 27 on american oil. The fix, 18. 33, and there is the doubt, really resilient, that number the vix 1, and there is the8. 33 dow really resilient. And a stronger ruble this morning. Lets go to the bloomberg terminal with those headlines. This is where we were. We are eighth under the desk and then 16 and in this morning with the news, brendan, up we go to 19. We were there when we wrote the first data check. Olivia, you know, did the got this all worked up, and they were doing my makeup. Brendan and also read her notes. Tom yes, but i was olivia the hryvnia is on the move. 19. 5 . Ukraine is seeing it will do whatever the imf wants. It definitely needs aid. Tom desperation is the right word. Brendan you see this abrupt rise in the key rate. This is what moscow did about a month ago, and that should induce capital to come to the country and what it ends up doing a signaling panic in desperation. Olivia they can smell the blood. Bloomberg surveillance. Tom john kerry is greeted in kiev. You saw a genetic headline, the president of france saying it has moved on to the National Bank. That is their centralbank in ukraine. They agreed to any and all imf demands as olivia mentioned. We are lucky this morning, and from london, gilles moec who olivia has interviewed twice a time, joins us from bank of america, merrill lynch. Gilles, your reaction. You are not an emerging market economist, but your reaction to the carryover of this into other nations into america. There is a knockdown effect, isnt there . Gilles from the decisions and ukraine, one was extremely central, what this idea that because of the crisis in russia, we had a very deep drop for infants in german exports, and one of the reasons why we had this small slump in the Spring Summer of last year was clearly related to the situation in russia and ukraine. Since then, things have stopped to be absorbed a little bit better, and weve not seen any major changes in western europe. Tom why now . Gilles the decision is probably motivated primarily by the discussion with the imf. The problem with a country like this is that first of all, they were not in the best of shape before the crisis started, and as long as the difficult situation remains tense, it is extraordinarily difficult for them to come up with decent micromanagement. Bloomberg surveillancebrendan here is the headline, tom here is the headline, it weakens them i think it is a plunge. Brendan you are an ecb watcher. What im trying to figure out is the decision to no longer accept greek sovereign debt and part of their ongoing liquidity operations. It sounds like a dry thing to do, but it feels political. Is that right . Gilles the ecb is doing what it always said it would do and the reason why greek bonds were accepted as collateral was that they were going to be in a program. The greek government has told ecb and everyone else in the world we do not want the program. It is the timing. Brendan yeah, they did not have to do it now. Olivia the point is they were operating under a waiver. It does not look like mario draghi is getting political, choosing to lift it now gilles in the sense of what the ecb has been trying to do for years now, is not to be seen as the ultimate decider in europe. It is not their job. They are not an elected body. The message repeatedly from the ecb is do not count on us to make decisions. What they need from the government is a deal, once they have a deal, then ecb can do their job. Tom the combined gdp of greece and ukraine, we are talking 417 billion. I am fascinated, olivia, how these are two rounding errors. Olivia now the concern is political contagion, but either way, Gilles Bloomberg is reporting that greece could run out of money by february 25. Are we going to get a deal before greece runs out of money . Gilles first, what the ecb has done yesterday liquidity for banks, it is absolutely central that this is understood. They have basically told greek banks we will continue to refinance you, the difference is that the risk will stay at the greek central bank, and you will have to pay a next her price an extra price for this. There is no change the only difference is the cost. I do not think there is a material difference. Tom the headline here for our viewers is we came in, we had a cup of coffee, we had kerry, hollande, and merkel in kiev and then the roadshow moves to moscow. Tom we have had a lot of brendan we have had a lot of roadshows. Gilles i love the way you have framed this. It essentially said you had get in a room right now, you has out, i cannot do it for you. Gilles one of the reasons why the decision came out last night, first of all, you do it once market closes. Tom yes, of course. Gilles they had a normal scheduled meeting to do this roughly for two weeks, three weeks now. It was from their own point of view the right moment to do it. Tom and we have been looking at the president of france speaking before he travels with ms. Merkel to ukraine. Josh wright with us as well from Bloomberg Intelligence. Josh, tell us how this fold over. I do not see the 10year yield moving. It is really discrete photo lineup by that of my history books. Josh the ecb did this before in 2012, to my question for gilles is what will be different this time . In 2012 it is all about the euro breaking up. Greece is not trying to leave the euro zone at this point, so it is a different kind of game. Gilles greece is not want to leave the euro zone it has said so time and time again. It is a welcome change, the reason why there is so little reaction is basically because one we have qe, a situation where we have a structural by an system that will make sure that no one will take their risk of trying to attack the market on account of what is going on in greece. That is the major difference. Tom and media bloomberg headlines out as well. Weve also seen a titlist greece. Explain the sartorial presentation. Brendan i am bloomberg surveillance chief titlist . Tom how do we look . Brendan this is Alexis Tsipras. Can i get the camera on me . He is casual, he cannot be bothered to buy a tie. This is Yanis Varoufakis one extra button and the jacket off. I am on television with two buttons down right now. That is happening. Olivia yeah i would button it up. Brendan it is deadly serious should the u. S. Army crying, should i put my tie back on . Should the u. S. Arm ukraine . Should i put my tie back on . Tweet us bsurveillance. Tom good morning, everyone. Bloomberg surveillance. I am tom keene. With me Olivia Sterns and Brendan Greeley. Olivia we begin with taiwan the final moments of train a nasia the plane clipped a taxi before plunging into a river. At least 31 people were killed, the pilot and copilot among them, 15 other passengers survived, as did the taxi driver. A dozen other passengers or remain unaccounted for. Ebola new cases last week in the three nations ravaged by the virus. It is the first time that has happened this year. The World Health Organization said sierra leone had 81 confirmed cases last week, up from 65 case of the week before. Getty and liberia also saw an uptick. Guinea and liberia also saw an uptick. And 550 million, the court once batistas boat and airplane also. But these that went on trial in Rio De Janeiro accused of Insider Trading and market manipulations. Tom very good. Something special this week. I spoke with peter g peterson. He has spent a lifetime in politics with success on wall street, became a good life for mr. Peterson, also a dedication to educating americano debt and deficit. I sat down with mr. Peterson on his new book, steering clear. We hearken back to 1986, Ronald Reagan, and tip oneill. Peter we can have a world where what we leave to our children is very solid and where we take care of the very poor without a lot of sacrifice, but politically we made the solution to the problem and possible. Tom do we need more tip oneills . Do we need more people cut from a different time and place and fabric . Peter i love what he and Ronald Reagan did. M how tom how to we get that back . Peter very few of that mode and it is exactly what we need in which politicians sit down with one another, and they have solutions that are practical, and both sides give something. Tom do you feel like america now is losing its shared experience . Peter when i was brought up in nebraska, i remember my greek immigrant parents coming over without a penny, and without a word of english, and early on when they opened up their diner, and i went to work there, they were thinking about their future. And i was going to get the best education, as my dad used to put it, that money could buy so there was a commitment here to the future. And what is missing to quite an extent, and what i am trying to get people focused on these longterm debts, is we are spending almost no time on the longterm. We are forgetting the longterm. The longterm is going to be there. The current path is simply impossible. Tom Pete Peterson, obviously a very fragile Pete Peterson, but out with a wonderful book. Josh right, i was thunderstruck at the quality of the book. Josh wright i was thunderstruck at the quality of the book. What has changed in our deficit debate . Josh what has changes we have gotten more and more polarization. That is based on issues at the political liveevel fragmentation at the media, and really what you are seeing is a failure of divided government. Olivia olivia tom olivia, the structure of the book is now is the time. Olivia the Obama Administration would point out that the deficit is shrinking. Brendan i have to say, what josh wright just that is important, when tebow meal and the gipper uses it down and have scott, we want that time to return but josh was just talking about structural issues that america is different from the early 1980s when they were cutting those deals. Tom gilles moec with us from london. I remember traveling around the world, and everybody was in up roar about americas fiscal crisis. That is not true anymore, is it . Should Pete Peterson take a victory lap . Gilles the u. S. Has been able to reengineer growth very quickly after the late president Great Recession of 2009. This extremely slow growth, stagnation, has been going on for six years, seven years, there is no amount of fiscal austerity that he debt off the table. Tom tom Pete Peterson was adamant growth alone will not solve this. Olivia what do you feel that the u. S. Got right in response to the recovery that europe got wrong . Gilles it was quicker to recognize that first and foremost you need to solve every banking setctor. There was a sense of emergency lacking in europe. The view was ok, it is going on in u. S. , we do not need to solve. It took four years or five years to really get banks. Then we have i think very a very illtimed approach to austerity. We discovered after two years or three years it was becoming self defeating. The speed of the response was obvious the a problem. Tom gilles moec with us of bank of america, but merrill lynch. Coming up, we will continue become a station on americas success and failure. Stay with us this morning. Dan clifton will join us from the strategas partners. Tom good morning, everyone. Bloomberg surveillance. Again, major headline of the day, merkel and hollande will travel to kiev and then moscow. Morning mustard with morning mustread with Olivia Sterns. Olivia the worlds biggest Manchester United term, the former head of Goldman Sachs asset management, jim oneill he says olivia as you can see on the top, the title of the article is two cheers for the new normal. He is not getting the idea that the Global Economy is going to hell in a hand ask it since 2007, and he says we should not be disparaging, maybe china and russian ruble have been we have a reason to be optimistic. Gilles moec, do you agree with jim oneill that we should be more optimistic about the economy . Gilles the drop in oil prices obviously is a net positive. You are taking money out of big sabers, and used in that money to big consumers, so in any case it is a net positive. The issue we have right now is that at the same time as we have had those factors, there is quite a lot of noise, and i think this is the issue that the market needs to deal with. At the same time as we have this sense of finally some exit from the wallowing and stagnation, we have realignment of currencies which act very quickly. There is a reaction to the flesh very forces tom is it a currency war . Gilles basically what is happening is everyone is reacting to a surprised shock on oil in a situation where inflation was olivia with competitive devaluation, which you can say is a currency war. Still to come, changing of the guard in saudi arabia. We will go live. This is bloomberg surveillance. Tom good morning and welcome worldwide, particularly welcome in europe this morning. Brendan greeley and i looking like well, the new greek government. We are tired of all of the drama in eastern europe. A tieless Brendan Greeley. Brendan this is not my idea. Investigators are analyzing train recorders to try to recreate final moments before the commuter train slammed into an suv on the track. The suv moved nearly 1000 feet before coming to a stop. The third rail went through the suv before piercing the car of the train. The suvs driver and five train passengers were killed. It is the deadliest accident and the railroads 32year history. Bill gates is donating more to his money. The microsoft cofounder gave 31 shares of his company back to the foundation. He shares have a value of 1. 5 billion. It decreases his stake in microsoft to 3 . His Organization Works to fight olio, eight, malaria, among other initiatives. To fight polio aids malaria, among others. Laurene jobs fortune jumps 1 billion in a day as disney shares soar. She is of course the widow of the late steve jobs. Tom just out on bloomberg business, you can see on our brandnew website, this is the new leadership of greece. One way greece can keep their banks alive, we have josh wright with us with his view of international economics. It is really simple when in doubt, capital controls. This goes back to 1998 and mondale out of world war ii, which is flows matter, get a hold of your flows. What can greece do . Josh the way you can look at this when you are greece is you have to use whatever tools you have at your disposal, and the reality is their hands are tied. They rely on the European Central bank to control Interest Rates and exchanges, so they have to look at what options they do have, and capital controls is one of those options. Tom what can the imf do . Olivia said the headline is we will do anything at all that the imf says, what is the last resort . Josh the imf it is a kralev political game. They are responding to the politics. It will all be about in consultation with the other members. It is not what Christine Lagarde wants. Olivia what cyprus did two years ago, the point is hereto, what, by more time . Josh it is not clear olivia this is a quote from an economist in brussels, a wellregarded economic commentator, who is suggesting that this is one way cyprus can buy some time because it looks like the ecb is testing greece by pulling this waiver. They have to go tap these emergency funds from the Greek National bank. Brendan this is something daniel gross has been talking about for a while. I talked to him two years ago about all of the flows of german money that went to greece a couple of decades ago and he said these are things the germans are not aware of. They are not aware that it was their capital that went to greece that became part of this problem, so we look at greece as a problem child. We are ignoring the flows of capital north and south within the European Union that contributed that problem. That is one thing that Yanis Varoufakis has been very loud about. Josh it is a great shakeout in terms of what are the policy options, what are the different cars the different players have to play. Tom you did the brilliant thing earlier, you showed your one chest hair brendan i am not going to do that again. [laughter] tom seriously, you know this guy in greece. I do not know anything. How is he received in germany . Is he able phone . Is he a buffoon . Brendan no, Yanis Varouf