Athens conceded EU control yesterday in exchange for receiving much-needed recovery funds. But these funds are not going to be granted all at once, but little by little through a special account. And the funds will be retracted should Greece not meet the EU's demands. Caution spikes with threats that the Greek Populist Party could win upcoming April elections.
Greece's problems are still not solved, because the country cannot pay down its debt, enact cutbacks and grow simultaneously. Ultimately, all their debt will have to be pardoned, and Greece could even be forced to give up the euro. If that happens, then Greece's collapse could drag down the rest of Europe.
For now, Greece's agreement gives more time to other peripheral countries that need to strengthen their economies and reduce risks of future collapse.