James Hamilton puts the Greek tragedy succinctly here.
He gives some suggestions however they will not be taken up. What has been 'negotiated is a deal that means the Greek economy will fall further.
This means things will get worse and neither Greece nor its creditors will see daylight.
See KRUGGERS and John Quiggin. How could I forget the marvellous David Glasner??
If people want to read more on this the last two Around the Traps have a plethora of articles in the Europe section as will this weeks!