The deal imposed on Greece in the early hours of July 13 after an all-night Euro Summit can only be described as a humiliating capitulation. Greece has basically given up sovereignty to the Troika in exchange for a new strings-attached bailout and some vague promises that debt restructuring (but not debt forgiveness) will be studied, at a later date, perhaps. This deal will not work. It will politically destroy Tsipras and Syriza and economically will plunge Greece even further into recession. It has also exposed deep rifts within the European Union.