Fruits of victory will turn sour; creditors and debtors alike will be punished

NEVER in the field of economic conflict has so much been owed to so many by so few. The warring over Greece's future has been a debtor versus creditor battle. So far the Greeks seem to be winning. In achieving a decisive 61 per cent-39 per cent "No" vote in Sunday's referendum, Alexis Tsipras, the Greek Prime Minister, has implemented the credo attributed to his forebear Philip of Macedon, father of Alexander the Great: divide et impera.

The failure of the creditor countries, led by Germany and the Netherlands, to recognise a central maxim of guerrilla fighting - the enemy will always surprise - provides a key reason for the Oxi win. If you're outnumbered, practise the unorthodox. Tearing up the rules of Brussels conduct, Mr Tspiras and Yanis Varoufakis, his finance minister-cum-field marshal, have outmanoeuvred and divided the surplus states by constantly re-engaging, over five months, from unexpected, demanding and outrageous battle positions.

The fruits of victory will turn sour. Creditors and debtors alike will be punished. Greece faces a wrenching period of infighting and pain, during which devaluation-stamped banknotes, rationing of high street goods and exchange controls enforced by armed police will be only the least of the ills.