Well, that went badly. For the Greeks in general and for Tsipras specifically. After many years and rumors and brinksmanship, and a powerful "No" referendum from the people of Greece, Tsipras managed to ‘secure’ for Greece a deal worse than any other offered to date.
Emotions during this weekend's tense negotiations ran high. It’s clear that Germany was especially, shall we say, motivated to make an object lesson out of Greece.
If the new deal is somehow forced through the Greek parliament, and somehow the public doesn't riot, then Greece will have lost all sovereignty and a huge chunk of its national assets:
Euro zone strikes deal with Greece after all-night struggle
Jul 13, 2015
Euro zone leaders made Greece surrender much of its sovereignty to outside supervision on Monday in return for agreeing to talks on an 86 billion euros bailout to keep the near-bankrupt country in the single currency.
The terms imposed by international lenders led by Germany in all-night talks at an emergency summit obliged leftist Prime Minister Alexis Tsipras to abandon promises of ending austerity and could fracture his government and cause an outcry in Greece.
"Clearly the Europe of austerity has won," Greece's Reform Minister George Katrougalos said.
"Either we are going to accept these draconian measures or it is the sudden death of our economy through the continuation of the closure of the banks. So it is an agreement that is practically forced upon us," he told BBC radio.
If the summit had failed, Greece would have been staring into an economic abyss with its shuttered banks on the brink of collapse and the prospect of having to print a parallel currency and in time, exit the European monetary union.
(Source)
Even worse, there’s a plan to place $50 billion euros of Greek assets into an escrow holding company to secure funds — funds it should be noted that will be used almost entirely to pay back old loans. In effect, because Greece has no possible means of ever paying back those loans, they just agreed to transfer 50 billion euros of state assets to international banking creditors.
by ian-k-2 
