CCTV Script 10/02/15

— This is the script of CNBC's news report for China's CCTV on February 10, Tuesday.

Greece and it's euro zone partners seem to be itching for a fight. And it's not boding well for any sort of compromise. Greece' bailout expires at the end of this month. And while Europe came to Greece's aid before, this time, it appears to have had enough. Investors in Europe and stateside feeling spooked that a 'Grexit' could happen. Yet, as the G20 meets in Instanbul, there has been no mention of Greece so far. How worried are central bankers about the debt crisics is Greece?

[Jacob Lew / U.S. Treasury Secretary] "Greece is going to need to work through - with its partners in Europe and with others that it has deep financial relations with - terms that are acceptable to everybody. I think that's possible. I think that the heat has to come down a little bit in the conversation. And I think that the sooner that happens, the better."

However, Andres Aslund, an analyst from Peterson Institute for International Economocs, disagreed.

[Anders Aslund / Senior Fellow, Peterson Institute for International Economics] "Personally I think its quite possible here i thought that secretary Lew put too much of a positive spin on the situation, which is of course what he should do as a politician, but eh as you say the Greek governemt is really digging itself in it has taken a very hard line on the election campaign and there is no understanding whatsoever for that from brussels and berlin and generally the northern part of the EU."

Worries of a ripple effect can be seen across Europe. Greek finance Minister Yannis Varoufakis has warned that the euro could collapse if Athens really heads out.U.K. prime minister even called for a meeting with Bank of England officials to discuss a plan for the U.K. should the Greek exit really occur, worried that British banks could be in danger should they loan out to Greek companies or individuals.

[Jim Rickards / Chief Global Strategist, West Shore Funds] "But look - Europe, the EU, the Eurozone does not want Greece to quite the euro, that would be a disaster you'd see how the dominoes would fall you know Spain and Portugal and so forth so that would be a catastrophe."

All eyes are still on whether G20 will bring up concern about Greece in Istanbul, ahead of another important EU summit on wednesday, to discuss Europe's other woe, the crisis in Ukraine. Reporting from Singapore, I'm CNBC's Qian Chen.



[Jim Rickards / Chief Global Strategist, West Shore Funds] "So for me its just classic negotiation, negotiation 101, so you posture on the way in, you compromise once you're behind close doors, they'll get something done and life will go on. But I'm not minimizing the impact. in the meantime, markets tend to overreact, read too much into it. This whole grexit thing I said was nonsense two years ago and its nonsense today - that doesn't mean markets wont be volatile."

[Chris Tedder / Research Analyst,] "The markets sort of priced that off and they're banking on the fact that greece will come to the table and that a deal will be netted out in the coming weeks but if that doesnt happen then markets will start repricing the euro lower."

Follow us on Twitter: @CNBCWorld