www.DailyStep.

com
Level 5: Advanced Daily Audio Lessons

DailyStep-5_economy-Greece-002_GB-01

Sally: Have you been following the news lately about the situation in

Greece?

Ben: Yes, to a degree, though I have to admit I don’t really understand

what is going on there very well. I know it’s something to do with

financial problems, and that there are violent protests and riots on the

streets, but beyond that – well, I’ve been so caught up in my own work

lately that I haven’t had much time to follow the news.

Sally: I know the feeling! But this situation is so grave, and also some of

my relatives are Greek, so I’ve been following every twist and turn.

Ben: In that case, maybe you can help me to understand it a little better.

What has caused Greece to have such serious financial problems in the

first place?

Sally: Well, it’s a case of fairly simple maths, really. Greece has been

living beyond its means in recent years, and its rising level of debt has

placed a huge strain on the country's economy.

Ben: So basically, it has been borrowing too heavily?

Sally: In a nutshell, yes. The Greek government went on something of a

spending spree during the past decade.

Page 1
DailyStep English, London, UK. © DailyStep Ltd. www.dailystep.com
A journey of a thousand miles begins with a single step
www.DailyStep.com
Level 5: Advanced Daily Audio Lessons

Situation: Ben and Sally start a discussion about the financial problems affecting
Greece.

Style: informal conversation

.

Functions:
1. Introducing a subject: Have you been following the news lately about the
situation in Greece? (note: please copy the tone and emphasis carefully here.)
2. Introducing a comment about your own shortcoming: though I have to
admit I don’t really understand what is going on there very well (note: please
copy the tone and emphasis carefully here.)
3. Explaining partial understanding: I know it’s something to do with financial
problems,... (note: please copy the tone and emphasis carefully here.)
4. Sympathising with someone’s situation: I know the feeling! (note: please
copy the tone and emphasis carefully here.)
5. Making a request on the basis of another speaker’s statement: In that
case, maybe you can help me to understand it a little better. (note: please copy
the tone and emphasis carefully here.)
6. Explaining the basic reason for something: Well, it’s a case of fairly simple
maths, really (note: please copy the tone and emphasis carefully here.)
7. Clarifying: So basically, it has been borrowing too heavily? (note: please copy
the tone and emphasis carefully here.)
8. Agreeing with a concise comment: In a nutshell, yes. (note: please copy the
tone and emphasis carefully here.)
.

Notes:
1. Have you been following the news...? = Have you been keeping up to date with
the news...?
2. lately = recently
3. to a degree (more formal) = more or less / to a certain extent
4. what is going on (phrasal verb) = what is happening
5. it’s something to do with (idiom) = it is related to / it is connected with
6. financial problems = economic and banking problems / money problems
7. riots = public disturbances that often involve violence
8. beyond that = after that
9. I’ve been so caught up in (phrasal verb) = I’ve been so involved in / I have been
so preoccupied with
10. I know the feeling! (idiom) = I understand what you are saying because I feel the
same too
11. grave = serious
12. every twist and turn (idiom) = every change in events
13. In that case = considering what you have just said / in the light of (idiom) what
you have just said
14. in the first place = in the beginning
15. it’s a case of = it’s an example of / the reason for it is
16. living beyond its means (idiom) = spending more money than it earns
17. its rising level of debt = its growing amount of money owed to other people and
institutions
18. has placed a huge strain on = has caused huge problems for
19. In a nutshell (idiom) = Exactly, / Expressed very concisely,

Page 2
DailyStep English, London, UK. © DailyStep Ltd. www.dailystep.com
A journey of a thousand miles begins with a single step
www.DailyStep.com
Level 5: Advanced Daily Audio Lessons

20. something of a spending spree = a bit of a spending spree / rather a spending

spree
21. to go on a spending spree (idiom) = to engage in an uncontrolled period of
spending
.
Audio file name: DailyStep-5_economy-Greece-002_GB-01
.

Page 3
DailyStep English, London, UK. © DailyStep Ltd. www.dailystep.com
A journey of a thousand miles begins with a single step