The titles have said, over the past days, that an agreement has been reached between the EU’s finance ministers and Greece. And, many, misled by these titles, would have thought that all’s well with the euro and with Greece. That could not be farther from the truth. At most, what has been gained was a reprieve of some four months which may even be cut down further due to the particular circumstances of the country.

Here is what Reuters said yesterday: “Shut out of debt markets and faced with a steep fall in tax revenues, Athens is expected to run out of cash by the middle or end of March. Its finance minister has warned that Greece will struggle to repay creditors starting with a €1.5bn IMF loan repayment due in March.

“Athens has been looking for quick fixes to tide it through the coming weeks but has not found one yet.

“Euro zone officials hope the liquidity squeeze will force Prime Minister Alexis Tsipras’s nascent government to agree reform plans more quickly than the end of April deadline set by creditors, paving the way for bailout funding to be released.

“The liquidity squeeze is being used to push the Greeks to very quickly start discussions on the review and finish that as soon as possible – not even waiting for the end of April,” one euro zone official said.

Although the German Parliament ( Bundestag) yesterday voted in favour of the deal with Greece, there were also 29 defectors from the ranks of the governing majority.

There was heavy rain and hail yesterday in Athens, as we had earlier this week, but this was not expected to affect the promised mass demonstration by the Communist Party against the new deal. On Thursday, violence erupted again in the central Athens squares, the first in the Tsipras reign, as his own power base begins to react against an agreement which the Leftist fringe sees as disowning all that was promised in the election campaign, or almost. This could lead to the unraveling of the Tsipras administration, considering it is a coalition. In other words, the coming weeks and months will be crucial not just for Greece but for the Eurozone as a whole. The odds are still on a break-up of the relation between Greece and the rest of the EU, either as a result of an accident, such as a cash shortage, amplified by the heavy withdrawals from Greek banks, or because there is by now so much bad blood between the two sides it seems this will be an accident waiting to happen.

So far, Europe has kept together, and Greece is still part of the eurozone and of the EU. The two sides say they do not intend to get separated. So far, the agreements have held, even though by the barest of links.

But all must agree now this is not the right way forward. We cannot go on lurching from crisis to crisis, with a fairy godmother who right at the end, intervenes to save when everything seems lost.

Ultimately, the Greeks have to decide whether their kind of economic macroeconomic theory, most of it Marxist and Communist and statalist in essence, can be matched to the macroeconomic theory that subsists in the rest of Europe. If it’s OK for them to be all employed by the government, to have their jobs guaranteed, and then expect the rest of Europe to finance that kind of lifestyle, they have another thing coming.