I agree with the sentiments of BBC Europe Editor Katya Adler: “The deal brings to mind two thoughts:
Prime Minister Alexis Tsipras said he had democracy on his side 10 days ago after the majority of Greeks voted “No” – as instructed by him – in a referendum on tough bailout conditions.
Yet he has now signed up to those very conditions and more.
Another thought is that Greece is not alone in now facing a loss of national sovereignty.
So are all the other countries in the eurozone.
There has long been talk of the need for closer union and harmonisation in the single currency.
This crisis over Greece makes its tightening, unifying and strengthening seem more urgent – to preserve the credibility of the currency.
In the end, it was not the plight of tiny Greece that drove eurozone leaders to overcome pride, suspicion, distrust and misgivings to reach some kind of accord. It was self-interest.
Remember, the eurozone is only just clawing its way out of its 2008 financial crisis.
Greece’s fate affects the economics and the politics in every single eurozone nation.”
