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Business Daily: A Way Through For Greece?

Greece breakthrough ibroadcast.jpg

10/07/2015

A Way Through For Greece?

BBC World Service - Business Daily, A Way Through For Greece?

Greece backs down on demands for leniency from creditors in its latest bid for funding.

Greece's Prime Minister Alexis Tsipras has backed down on his demands for leniency from creditors and has offered to deliver the spending cuts and reforms they had insisted on.

The Greek government of Prime Minister Alexis Tsipras has backed down on his demands for leniency from creditors. He's offered to deliver on many of the spending cuts and reforms they had initially insisted on. So does this mean the risk of Greece falling out of the euro is less likely? We hear from the BBC's Mark Lobel in Athens on why Mr Tsipras appears to have capitulated on his earlier demands for less stringent terms. The BBC's economics correspondent Andrew Walker takes us through the Greek government's latest proposal and the independent economist George Magnus tells us that debt relief may be the deal clincher. Plus, our contributor Alison van Diggelen reports from Silicon Valley where the technology sector hopes to come up with a solution to California's four-year drought.

Photo: Santorini blue dome church seen through an opening in a wall; Credit: Marchello74/Thinkstock

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