All of this has left little Greece at the heart of an epic battle with geostrategic and financial implications that reach far beyond the debate about austerity or the question of the country’s towering debt load. Syriza’s sudden withdrawal [capitulation] after months of brinkmanship has ended up exploding deep-seated rifts within the creditor camp, revealing a set of seemingly insurmountable contradictions within the Eurozone as a whole.Alex Lantier of World Socialist Web Site makes the same argument, but expressed differently, in his article entitled "Tensions erupt in Europe as Berlin threatens to expel Greece from the euro".
Read this article by "Yves Smith" from Naked Capitalism for the details of this new harsh agreement imposed mostly by Germany and the unelected elites at the European Commission headquartered in Brussels, Belgium.
Another liberal capitalist take on this issue which offers some useful perspectives on Greece's sovereign debt is a piece by Charles Hugh Smith entitled "Greece and the End of the Euroland Fantasy".