Greece's very own "Treaty of Versailles"

Yanis Varoufakis has no right commenting on this latest deal. He was hardly successful himself.

It's not a sop of any kind. It's a life-line for Greece.

Didn't Germany get a life line in the form of the Marhsall Plan and for greater transgressions than financial incompetence? Greece was also a signatory to writing off Germany's debt after WWII.

Maybe. But we have to live in the present.

Nobody wrote off our debt after WW2. We had to pay for the Marshal plan. However, jings is right. We are where we are now.

It actually makes no difference - it isn't going to work.

It would if Germany stood up to the mark and said Ok we will write off that part owed to us - some other economies are owed more when it is shown as a percentage of their GDP. Four times last century Germany had debts written off - their attitude now stinks!

I am puzzled by the whole thing: they have a deal that they refuse; they go to all the expense of a referendum; they ignore the result and agree to something that looks remarkably like the deal they refused in the first place.

They are over a barrel, but the expensive window-dressing of the referendum was a bit of a red herring.

We may live in the present, but what went before is often a contributory factor to the here and now, look no further than the Middle East. After all wasn't the European Union set up to bring the countries of Europe closer together after two world wars.

I don't think anyone would disagree that the Greeks have been reckless and cavalier with their economy and have pretty much contributed to the state they are in. However, I'm inclined to agree with The Telegraph's comment that this "Greek deal poisons Europe with a backlash against neo colonialism" Incidentally, I believe Mark Carney is of the opinion that Greece will need some debt relief. In the meantime, Greece is well on it's way to becoming a broken and subjugated nation and Germany of all countries should understand where that could lead.

In this week's Sunday Times the editor of German newspaper "Bild" states "for years we have asked German politicians where their policies would eventually take us, our money and the eurozone as a whole, and for years they have dodged those tough questions and challenged the European patriotism of anyone who dared predict failure. Today we see what? Failure" He further stated "how foreseeable this all was and how the indications were ignored for an allegedly greater political good, Politicians from Berlin to Brussels, from Paris to Lisbon worked on the false assumption that somehow a political idea can overcome the arithmetic of interest and debt. Paying for each other's bonds within the eurozone is not creating a stronger continent of solidarity but a weaker continent of debtors and creditors". He concludes by saying the problem of how to solve Greece's on going debt, blocks Europe's view of other geopolitical priorities such as the situation in Ukraine, the threat of Isis and the enormous challenge of hundreds of thousands of migrants coming to Europe, which is another issue there doesn't seem to be any consensus on either.

It seems a paradox to me that political parties such as SNP and Podemas who have an anti austerity stance wouldn't look at Greece's plight and question whether they could also be on the receiving end of hard line enforced austerity if they too max out their countries' credit.

The whole idea has always been flawed. A lot of people, including politicians, have always known this.