On Friday, February 20th Greece signed a joint statement with the Eurogroup of Finance Ministers which amounts to an abandonment of the programme on which Syriza won the election on January 25, as well as government policy statements made since then. What are the details of the deal?

Friday’s Eurogroup agreement amounts to the government’s capitulation to the Troika’s blackmail. The agreement provides for a four-month extension, not simply of the “loan agreement”, but, as is expressly stated, of the “programme”, that’s to say of the Memorandum itself.

Once again, any illusions that the negotiations with its creditors could ever yield something positive for Greece have now crumbled in the light of the recent Eurogroup meeting. The unanimous ultimatum of Greece’s so-called capitalist Eurozone “partners” to the new government and the overwhelming majority of the Greek people that support the government was once more a provocation.

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