Show Hide image UK 23 June 2015 Greece moves closer to a deal The government in Athens has given way on key proposals, reviving hopes of a deal between Greece and its creditors. Print HTML The Greek government has inched closer to a deal that could prevent Greece from a default and an exit from the single European currency after the ruling party, Syriza, put forward proposals to raise VAT and cut the country’s pensions bill. In addition, the Greek Prime Minister, Alexis Tsipras, has pledged to achieve budget surpluses of one percent this year, two per cent next year and three per cent in 2017. Corporation tax will also rise, to 29 per cent, while a “solidarity supplement” on the rate of income tax will also rise, bringing in an extra €220m a year. Tsipras’ concessions increase the chance that Greece’s creditors and the European Union will agree to release further bailout funds, allowing the government in Athens to make the £1.6bn payout it needs to make to the IMF by the end of the month. Eurozone finance ministers will meet today to discuss whether the Greek deal is acceptable and if the numbers add up. › A thing of beauty – a joy forever? Subscribe More Related articles Michelle Obama's powerful speech demolishes Donald Trump without even mentioning his name In defence of expertise: it’s time to take the heart out of “passionate” politics Why do the words “soup, swoop, loop de loop” come to mind every time I lift a spoon to my lips?