The Greek crisis is dead. Long live the Greek crisis.

On the never-ending reign of austerity

A man walking in Thessaloniki.
(Image credit: Illustrated | SAKIS MITROLIDIS/AFP/Getty Images)

Is Greece's long debt crisis finally at an end?

Late last week, the eurozone hammered out an arrangement that will bring Greece's third bailout to a close. There will not be a fourth, and most everyone seems to think Greece's future debt repayments are relatively sustainable. Yields on Greek bonds fell, suggesting higher demand, while the country's stocks and equities rose. Officials are already celebrating the deal as "historic."

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Jeff Spross

Jeff Spross was the economics and business correspondent at TheWeek.com. He was previously a reporter at ThinkProgress.