Let's tell it straight: "Europe" committed suicide last weekend in Brussels. It was an assisted suicide. The IMF wrote the original story line and set the scene; the European Central Bank provided the revolver and ammunition; while Germany unrelentingly urged that the suicide was a necessary act of moral redemption that was imperative to save the EU from eternal damnation.
After a grueling 17-hour negotiating session in Brussels, a last-minute deal was finally reached between Greek Prime Minister Alexis Tsipras and his euro zone creditors. At least for now, it averts a Greek exit from the euro and halts the European Union's most serious existential crisis. However, the agreement marks only the end of one chapter in this unfolding saga.