Transcripts for CNN CNN Newsroom Live 20150711 07:05:00 : co

Transcripts for CNN CNN Newsroom Live 20150711 07:05:00

the reforms that are in it and the tax hikes that will save greece and leave it in the eurozone? >> well this program is not optimal, is not the best but given the alternative it's very good. let me explain. i mean the alternative is for greece to leave the euro and go to the drachma and that would be a total disaster for greece the banks would collapse, people would become much much poorer. people would lose their deposits in the banks. all these are terrible things and the way out is to have this deal done. this deal is not perfect. it has too much taxation and not enough cutting of spending. it's high taxation but nevertheless given the circumstances that deal is much better than the alternative. additionally there is the hope

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