News Wrap: Greek PM rejects creditors’ conditions, calling for debt relief

In our news wrap Friday, Greek Prime Minister Alexis Tsipras rejected conditions by creditors for supplying more bailout money. Yesterday Athens shook up financial markets when it opted to defer a payment to creditors. Also, U.S. weapons, including rifles and machine guns, are finally making their way to Iraq's military, under a program created last year.

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    It turns out the economic recovery regained some of its mojo in may. Today's Labor Department report shows employers added a net of 280,000 jobs, far more than expected. The unemployment rate ticked up to 5.5 percent as more people were encouraged enough to look for work.

    All in all, it marked a rebound from the year's first quarter. We will delve into the data, right after the news summary.

    OPEC opted today not to cut its oil output. Cartel officials said that means the price of crude oil and, in turn, the price of gasoline are likely to stay relatively low for the time being. In New York, oil closed just above $59 a barrel.

    On Wall Street, the economic news raised fears that the Federal Reserve might raise interest rates sooner than hoped to head off inflation. The Dow Jones industrial average lost 56 points to close at 17850. The Nasdaq rose nine points, but the S&P 500 slipped three. For the week, the Dow and the S&P fell not quite 1 percent. The Nasdaq was flat.

    The prime minister of Greece~ today rejected conditions by creditors for supplying more bailout money. Instead, Alexis Tsipras insisted on debt relief. He told Parliament that the European Central Bank, the European commission and the International Monetary Fund are making — quote — "irrational proposals."

  • ALEXIS TSIPRAS, Prime Minister, Greece (through interpreter):

    It is time for everyone to prove that they are working towards a viable solution and not to subjugate and humiliate an entire nation, because if that is what they are doing, they should know that they will have the exact opposite effect.


    Athens shook up financial markets yesterday when it opted to defer a payment to its creditors.

    U.S. weapons are finally making their way to Iraq's military, under a program created last year. The Pentagon confirms it's begun shipping rifles, machine guns and other gear. Just this week, Iraq's prime minister, Haider al-Abadi, complained almost none of the promised help had been sent.

    Meanwhile, Tariq Aziz, Saddam Hussein's former foreign minister, died today in a hospital. He was awaiting execution for crimes against humanity.

    Recovery crews in China today raised a capsized cruise ship to help search for victims. The vessel overturned Monday night in the Yangtze River during a powerful storm. Nearly 340 people who were on board are still missing. Today, cranes righted the Eastern Star and gradually lifted it to reveal all four decks. Salvage experts said it was a delicate operation.

  • XIONG WEI, Professor, Dalian Maritime University (through interpeter):

    The ship has a complex structure inside, and, besides, it was filled with water, which caused uneven distribution of weight. We needed to make sure the steel cables wouldn't break in the hoisting process, so we had to fix them fast on the ship, on account of its entire structure.


    So far, divers have recovered 103 bodies, but only 14 survivors have emerged.

    A stunning turnabout today in Pakistan: Authorities announced that eight men accused in the attack on teen activist Malala Yousafzai were acquitted for lack of evidence. Reports in April said they'd been convicted and given life in prison. Malala was shot in the head in 2012 by a Taliban gunman who boarded her school bus. She had advocated education for girls. Two other suspects were convicted, and given life terms.

    Back in this country, Northern Colorado braced for violent storms again after tornadoes and flooding last night. No one was hurt, but daylight showed several homes ripped to pieces north of Denver and floodwaters cutting through roads. The storm system also dumped up to three feet of hail, so much that crews had to use heavy equipment to clear roads.

    A Montana woman is accusing former House Speaker Dennis Hastert of sexually abusing her brother. Jolene Burdge tells ABC News it happened when Steven Reinboldt was in high school in Illinois and Hastert was a wrestling coach. Reinboldt died of AIDS in 1995, and Burdge says then-Congressman Hastert appeared at the funeral.


    I just looked at him and said, "I want to know why you did what you did to my brother." He just stood there and stared at me. And then I just continued to say, "I want you to know that your secret didn't die in there with my brother, and I want you to remember that I'm out here."


    Hastert was indicted last week on federal charges that he agreed to pay $3.5 million to hide unspecified misconduct.

    And the Roman Catholic Archdiocese of Saint Paul and Minneapolis was charged today with failing to protect children from sexual abuse. State prosecutors said the archdiocese waited too long to tell police about a priest who molested two boys.