The Guardian`s editorial listed four "essential facts" about the Greek agreement, but there can be little to substantiate the dubious point that the Germans "believe that it could" work (This agreement takes Europe into dangerous waters,14/07/15). Economically, the deal provides no opportunity whatsoever for economic growth, debt repayment, or even for hope that the eurozone will be a more viable unit as a result. The reason for a settlement, which is not "even remotely reasonable or fair", and which humiliates the Greek government and its people, has to be based on politics; the conservative government of Germany, backed by a few like-minded administrations like Finland, wants to demonstrate to the rest of Europe, above all else, that debt and the accompanying "severe package" of austerity measures cannot be avoided by electing a left-wing government. In fact, countries who choose anti-austerity parties, no matter how democratic the process, have to realise the economic consequences.
By adopting this tactic, Germany has made a fateful error; she has forgotten how her treatment after the war by a generous Europe, terrified of the spread of communism, enabled her economy to recover and flourish. German economic predominance, now being used as an excuse for political supremacy, is already, as the editorial states, creating "rancour" within the EU, which can only increase as long as her intransigence persists. There is clearly an alternative view growing in Europe that, when debt crises occur, the borrowers must share some of the blame. Dividing Europe in this way is particularly mistaken not just because "Putin`s embrace" awaits defaulters, but because it plays into the hands of nationalist eurosceptics.