However, his coalition is coming apart over this betrayal, and it remains that the debt cannot be repaid, and therefore won't be. And the greater significance is this: the whole business has made it clear that the European Union and the single currency are not about the ideals of a united Europe for the benefit of its people; it's a wealth pump from the poorer south to the north, notably Germany, and a design to makes sure that the banks are cared for at the expense of people.
It turns out that through the Euro, Germany has largely established Hitler's dream of the New Order, Europe dominated by Germany and economically integrated with German industry - without war and without killing people, which does, incidentally, remind us that war is often not the smart way to get what you want.
However, Germany's victory in this matter, by exposing the nature of its regime, has undermined its legitimacy. Once that happens to you, you don't last. Mark Kurlansky, writing 35 years later in August 2003, persuasively traced the collapse of the Soviet empire to the revelation of its nature in its invasion of Czechoslovakia in August 1968. It deserves a careful rereading today:
Written in August 2003, five months after the US had invaded Iraq in the same manner, and with the same lying excuses with which Germany invaded Poland in 1939, the piece predicted that this disgraceful act would have a similar effect on the US empire. And so it is proving to be, especially because, unlike the Soviet Union at the time, the US has doubled down on its folly, doing all it can since its Iraq adventure to make clear to the world that the US is indeed a rogue state.
The crushing of the Greek government's resistance, as Germany did to Yugoslavia in 1941, has already led to the beginning of the breakup of the Syriza coalition. Whoever comes out on top will somehow have to follow through as Tsipras failed to do, because reality cannot be repealed. The plunder of the Greek economy to pay the banks just isn't sustainable, because the resulting collapse of the economy precludes the economic activity and resulting tax revenue required to pay. The debt, which is largely odious anyway, must be repudiated. That's arithmetic, not a policy question.
We've already seen here the fulfillment of the proverb, "The borrower is the lender's slave." We'll soon be reminded that it is written again, "The cruel man troubles his own flesh." It would be a very different world if rulers paid any attention to the counsel of the Bible!