The Greek crisis is about far more than one country’s debt – it is about Europe’s political future

Eurozone leaders reached an agreement on Greece on 13 July after lengthy negotiations. Michael Cox writes that one of the key dynamics during the crisis has been the reluctance of creditors to offer generous terms to Greece due to their fear that this could provide encouragement for actors in other Eurozone countries to challenge the established consensus. He argues that the crisis is now part of a much wider debate about Europe’s political future that goes beyond the limited issue of Greek debt.