So the story moves on. At the time of posting a new deal has been proposed, under which Greqece will lose control of more of its assets but the deal has to be approved by the Greek parliament ...

It is hard to see how the deal will do anything other than prolong the agony. As expected, nothing is being proposed to assist Greece be stronger economically; it is all cutting expenditure and ignoring any consequences.

However, the approach taken adds one further twist of the knife. Will a party elected precisely to oppose the austerity and with this goal reinforced with a "no" vote a few days ago vote to accept the deal and demonstrate that the democratic voice is simply irrelevant, and if so whence democracy? Or will they reject it and risk finding themselves overpowered by the economic consequences and demonstrating democratic irrelevance though a different path?