EXPERT COMMENT: Greece deal - "A political earthquake in Athens"

Professor Dimitris Papadimitriou comments on the debt deal struck by Greece and the Eurozone today. Responding to today's agreement between Greece and the Eurozone, Professor Dimitris Papadimitriou, Professor of Politics at The University of Manchester and expert on Greek politics, said: "Today's agreement does not fully resolve all outstanding questions over Greece's long term future in the Eurozone, but does provide both sides time to hammer out a detailed blueprint for the next three years. The level of austerity imposed on Greece will create a political earthquake in Athens and the unity of the governing coalition will come under serious pressure. Greece is likely to experience a significant realignment of its party political landscape. "For the Eurozone itself this is a pivotal moment. German economic orthodoxy has come under criticism, but was not defeated. The abrasive tactics of the German finance minister are increasingly seen as a problem.