World Socialist Web Site
…..In the end, this is what Syriza agreed to. It balked only at returning with an agreement that explicitly called on it to impose the hated “Memorandum of Understanding”—the list of austerity measures originally agreed to as part of the loan agreement. Syriza was allowed to have the “troika” renamed as the “institutions” and the “Memorandum of Understanding – MoU” recast as the “Master Financial Assistance Facility Agreement” (MFAFA).
However, the MFAFA, the official name of the loan agreement, includes language requiring that Greece “comply with the measures set out in the MoU,” that is, with the austerity measures dictated by the European banks.
The abject capitulation of the Syriza government exposes the utter political bankruptcy of the myriad petty-bourgeois pseudo-left organizations throughout the world that just a few weeks ago hailed the electoral victory of Tsipras as an earth-shaking event. Far from denouncing Syriza’s betrayal, these groups will work overtime conjuring up excuses and justifications. But broad sections of the Greek working class will see the agreement for what it is: a cynical and cowardly act of political treachery.