Grexit averted for now, but Greece faces political woes

IN A remarkable turn of events, Greece reached a deal on Monday with eurozone leaders on a new financial package, its third such bailout. The deal is extraordinary in several respects, not least because Greek Prime Minister Alexis Tsipras has signed up to an agreement that is, in numerous ways, more stringent than that which both he and the Greek populace at large, in last week's referendum, had previously roundly rejected.

The breakthrough, which follows the longest ever (17-hour) meeting of leaders of the eurozone, may now cap off a remarkable five months of brinkmanship between the Syriza-led government, elected in late January, and its creditors - the European Commission, the International Monetary Fund, and the European Centr…