Our top story comes from zurich where swiss police have raided a hotel and detained a number of fee th investigation to corruption. Andrew martin has been covering the story. What do we know at this point . Reporter what we know is that the Swiss Police Raided a hotel injuring where the leadership were staying as part of an annual meeting and president ial election. At least six feet for officials were arrested fifa officials were arrested today. There were six arrests including some of the top officials. The top lieutenants were including jeff webb of the Cayman Islands who is considered to be the heir apparent. And Eugenio Figueredo of uruguay. A number of top chief officials. The allegations are wire fraud and Money Laundering, how much are we talking . We are still waiting for a lot of the details but the swiss police let out this tantalizing detail that there were bribes and kickbacks from the early 1990s to present day totaling 100 million. Some of the details have yet to emerge. It looks like some of this has to do with payments around contracts for the world cup. Some to do with bribery pertaining to world cup bids. Where looking for some of the details from u. S. Authorities. Mark this was started francine this was started by the u. S. Authorities are they facing extradition . Reporter this is a u. S. Investigation. The u. S. Has been investigating the for fifa for three years and apparently they were able to charge these people because some of these deals were executed in the United States or involved usas u. S. Banks. A lot of those details are forthcoming. Francine lets get more on this breaking news, we are joined by mark barton. What is it mean in light of the Upcoming Elections . Mark has our man in rio, who wrote a brilliant piece called a league of his own, a piece on set on how he controls world soccer, he spoke to us this morning. The president of fifa who has been president for four terms he will have to be pulled kicking and screaming out of the office before he leaves the presidency. Friday is the election. To be fair, set blatter was at the head of this and is set to remain for a fifth consecutive term. His one opponent is the brother of the king of jordan, king abdulla the second. He just released a statement saying today is a sad day for football. The details of which are still in emerging and it would not be appropriate to comment further at this time. We do know there will be a News Conference and roughly 55 minutes. It is a bombshell. To not underestimate the impact. A bombshell of 209 National Delegates meeting in zurich to vote. Francine so we dont even know if they will go ahead. Mark it would be a shock if they did not go ahead. In 2011 at the last of many scandals surrounding fifa when his opponent was accused of paying caribbean officials to win their vote. He stepped down days before the vote. The efa said this election should not take place amidst the scandal. It went ahead. The whole of fifa criticized the faa for daring to suggest it should not go ahead. This is a far more coordinated effort from the u. S. There have been so many alleged episodes of investment and bribery since sepp blatter won that election. Francine mark will be back throughout the day. The conservative governments prop planned for the next five years will be set out in a speech. The Prime MinisterDavid Cameron says behind the queens speech is a clear vision for what our country can be, a country of security and opportunity for everyone. We are joined now by sanyo odonnell what are we expecting . Reporter we are expecting them to set out the stall. We have an idea of what will be unit. The elements that were in the manifesto should find their way into the speech. You mentioned the referendum that is top of the list. We will also get a housing bill. And his pledge to stop tax increases and enshrining that. Francine what are we expecting on the referendums, is her a chance he will say what he will call it for . Reporter timing is crucial. I doubt that we will get a date because it really depends on how much he can negotiate. He is about to set off on a two or of five different European Countries to get these negotiations started. Francine thank you so much. Sven you odonnell svenya odonnell. We are joined by john mills, thank you so much for joining us. Give us a sense of what you would want to see today. I think there are a number of things. The way that social and labor law works some very interesting issues around the way that europe is developing. In particular the way that we are now a minority among countries using the euro and we need some important safeguards that we will not be disadvantaged. It is the eurozone countrys form of a block. Francine a safeguard, if he calls the referendum, that is the biggest safeguard of all. Guest i think that is right. Whether it will be possible within a year or 18 months remains to be seen. It would be better to have a thorough negotiation than to rush it through. Francine we also heard from germany singh what the Business Community doesnt want is uncertainty. Would you rather wait to have a referendum in 2017 then push it forward . Guest it is important to have this whole issue properly dealt with. A rushed referendum which would only scrape the surface might leave the whole issue unresolved. I do agree that we need certainty and we need to decide whether we stay in the European Union and make a come of it or stay our separate ways. Francine the conservatives have a slim majority so they have a lot to lose if they push things that do not get passed through. Guest on the referendum issue they have a majority. Labor is not going to oppose that. There have been some other issues which are significant. What is the question going to be, the franchise. They may be more contentious. Francine there is something clear in the Election Campaign, the conservatives want to be seen as more friendly as a whole. Do you think that we will start to get a little bit of this now jacob we are talking now . We are talking about paying less taxes. Do we need a new conservative forum where they are considered more fair . Guest probably so. David cameron has made speeches and i think that is a move but i suspect labor will move toward the Center Ground as well. I dont think the conservatives will have a majority moving in that direction. Francine we will talk a little bit more about that eu next. Here is a look at what else is on our radar. The 25 stake in aer lingus. It paves the way for the takeover of the Irish Airline and i e. G. Iag looks to enlarge the group. Chanel and Louis Vuitton was the only Luxury Brands to increase in value last year. That is according to mill worth brown. Vuitton rose 20 while chanel rose 15 to 9 billion. Up next with the imf payment deadline looming, greek officials planned to meet with creditors in brussels. Francine welcome back to the pulse. Greek officials plan to meet with creditors in brussels today to secure a deal before the country meets the payment to the imf at the end of next week. For the latest lets go live to hans nichols before he makes his way to dresden. It is not looking very promising. On the boy hans boy hans you had a u. S. Official overnight saying the secretary of treasury will be warning about contagion and the unpredictability of the global recovery. Contrast that with the german view. We just heard from schmidt who is a key advisor to Angela Merkel and he repeated this argument and has quite a bit of credence. The contagion could be limited. Everyone will be arriving later today, it is a question on how much risk or contagion would there be if greece does not make that payment on june 5. We have assurances from the greek finance minister varoufakis, that they will make that payment but he says its because they will have a deal. That seems like circular logic. Francine they were meant to meet facetoface yesterday and they actually spoke by phone, does it make a difference . Hans some of the facetoface meetings have not gone that well. These meetings are supposed to take place at a technical level in brussels and they were supposed to take place yesterday and will take place today. The question is how much progress can you have on a technical level before you can have some grand lyrical agreement. They seem far apart on the technical level and on the political level do not seem that much closer either. They have to get over these roadblocks with mr. Varoufakis saying there is only one roadblock. The germans and the spaniards want to see greece implement the reforms that agreed to and that includes some austerity. I dont see how we are closer today than we were yesterday. Francine i know youre making your way to dresden for the g7 but that question they will have to face is can we lead without greece in the eurozone . Hans the germans would is that the g7 has an official agenda and greece is not on that agenda. When everyone gathers i suspect that greece will overshadow and hijacked the meeting to some extent. The question is, is this the right forum and that germans will argue that it should be that eurogroup. The dutch finance minister will be in the meeting and that is perhaps an indication that greece will be on the agenda. Francine we are joined by john mills, when you look you have handled a lot of negotiations when you look at what is happening, is this down to the wire orton negotiating tactics or is this just a deal gone wrong . Guest i suspect it will eventually the a deal gone wrong. The timing on this has always been difficult to determine. There have been so many occasions where it looked like it would fall apart and then it was patched up. The underlying tensions are substantial and sooner or later my guess is the greeks will leave the euro. Francine what does it mean for that referendum. We assigned to have polls around 65 of u. K. Voters that would stay in the eu. If you start to see a breakup does that have an impact on the psychology of british voters . Guest it will depend if greece does. My guess is that it probably would be very difficult to contain it, especially over a reasonable length of time. The euro is supposed to be irreversible and clearly it wont be if this happens and secondly you might start to see higher interest charges on Vulnerable Countries like spain and italy. Third if greece does leave and then becomes more profitable this could really destabilize the political situation. Whether this will all happen during the time we are moving up to a referendum remains to be seen but i think that could happen. Francine before we were talking about the timing and how certain businesses want it earlier and youre saying if you dont give yourself at least 18 months, it will be difficult. Do you think we will have renegotiations echo we know that merkel wants them to stay, but there are red lines on immigration and freedom of movement that the partners probably will not give in. Guest i dont think you can expect everything you want. It will be a huge disaster for the European Union written wants to leave. They have got quite a bit quite a bit to push things in the direction the country will accept. There is a real danger for those who want to keep britain in a being to aggressive and pushing them in the other direction. There are some tricky negotiations to be carried out. Francine thank you so much for joining us. The chairman and founder of j m l. The ireland government approves the sale of aer lingus to iag. Francine welcome back to the pulse. The Irish Government has approved the sale of its 25 stake in aer lingus to iag. It paves the way for the takeover of the airline. We are joined now by our dublin trip chief. What did they give ireland that allowed the approval of the sale. Guest were going to rewind this to five or six months ago. They offered of fiveyear guarantee on the roof between london and ireland. They said no to that offer but left the door open for ie g to come back. The key changes that i e. G. Iag is now offering the key is the sevenyear deal. Francine what happens next . Guest a number of key developments. The transfer minister said he expects that to back the sale comfortably. The key now is Michael Oleary and ryanair. Iag will not proceed with the bid unless ryanair sales cells. Leary could wethe king maker. Francine im sure that he will be and european authorities and regulators, did they delay the deal . Guest not substantially. It checked out some of these guarantees it got with the commission but the commission has raised no big objections. That is not to say it will not have to go with a formal process. Francine thank you so much for joining us. Just a reminder you can follow us on twitter we are talking g7 and the queens speech. Francine welcome back. Live from the European Headquarters here in london. Our top news item, u. S. Prosecutors have charged at least 10 International Football officials as part of an investigation. In the last couple of minutes we had an exact breakdown from the department of justice on how many officials have been indicted. Nine fifa officials and five executives have been indicted on charges of corruption. This is something that we will keep a close eye on. Authorities have seized these documents early in the morning. That is the main stories and outlets get a legal perspective on the fifa arrests. Daniel, give us a sense, this was pretty much unexpected and yet there have been these corruption allegations for some time. This is a lot bigger than previous scandals and arrests, how does it compare . Reporter it is substantially bigger. You have been investigations over the past couple of years there were incidents in 2010. One was banned for attempting to sell his vote for the russian world cup. This now involves members at a much higher level. The timing of the arrests is clearly significant. Francine what does this mean for sponsors . Reporter it causes issues for the integrity of the game and that is the big issue for fifa. In terms of the vote as a whole it will only now go ahead if it can be seen to be clear and fair. Obviously fifa is a global brand and it will be something which we will be looking at extremely carefully. Francine how harmful is this to the Election Campaign . It is significantly detrimental. We will probably find out in the next couple of hours whether the vote will be postponed on friday or not. The timing is clearly significant. We will find out but perhaps the reason for that is because there is no involvement whatsoever. They will now want to be given a clear path to go forward, in other words taking the spotlight from these allegations or if the allegations he do affect the carrying out of the election and make them tenable, then clearly the election will not go ahead. The issue here is even if there is no connection whatsoever, the reality is such that blatter during his tenure, he became president and 9098 and as were hearing today these allegations indicate corruption from the early 90s to the present day which means he is going into a vote where he has resided over corruption of two decades. Francine how long can the case continue . When is it likely to have an outcome. This can take years. Reporter the arrest will only have been made if there is enough evidence whether prosecutors think they can make convictions, but you are quite right, this could take years. Francine will this have on young impact on International Sporting laws . Reporter yes it will. Obviously fifa are the governing body governed by swiss law but they are the lawmakers. And clearly there will be a significant shakeup. Francine i know we talked a little bit about sponsors and the impact on International Law but what is the one thing that will change after this does it have to be from the corporate world or customers, what will this lead to, if any . Reporter i think there will be a more seismic change if there is a change in leadership. If prince ali, gets in, that is more likely to single signal fundamental change. Francine more breaking news the department of justice saying that the end i meant is not the final the indictment is not the final chapter in the investigation, how do you interpret that . Reporter it is likely that more arrests will be made. The timing is significant and as the day goes on we will hear of more allegations and it is likely there will be more arrests. Francine we are also understanding from the doj that the search warrant is being executed in miami. It seems that this is widening. Does this mean we are almost at the end of it that if we have Something Big of this size that everything can with time get back on track . Reporter quite likely. You have to remember that jeffrey webb is based at the headquarters in miami so it is likely the search warrant is being undertaken there against jeffrey webb, the Vice President. But certainly this investigation will go throughout football. Francine are you surprised . Its is a lot of countries are involved. Reporter the reality is there are 209 federations so with it being a Worldwide Organization with members of the executive committee being spread around the world, it is not surprising at all it is going to go global but you can imagine the size and the scale of doing an investigation at this time. Francine thank you so much. Daniel draper, sports lawyer. Earlier today i sat down exclusively with the ceo of the thirdlargest to strip it are announcing key targets here in london. He told me qe is spurring growth but will not last forever, take a listen. The ecb has stepped up to the challenge of stabilizing europe and qe has made it possible. We should all be grateful. Of course, the other side of the coin it is absolutely depressed and would remain depressed. But in changing the liability structure, we are prepared to live with that for the next many years. So we dont see that as a major issue over the next years. Francine how do you see qe . Something to spur European Growth . What is happening today is that qe is helping to spur the growth. Together with the