Eurozone officials reach accord with Greece to extend bailout

“This deal won’t be a game-changer for the Greek economy — the outlook there won’t change dramatically” because the funds will largely go to repaying Greece’s debts, not to the real economy, said Simon Tilford of the CER. “Any deal might not hold them over, and before very long we could find ourselves back in the same position in the not-too-distant future.”

Should that happen, he added, there is a “non-negligible risk” that Greece could exit the eurozone, even if Mrs. Merkel and others have publicly stated they do not want that to happen.