Germany approves third Greek bailout. Crisis over … for a couple of months

Athens has been set up to fail its October review of whether it is complying with the latest agreement, at which point some EU countries will cut up rough

Now that Germany's parliament has approved Greece's third bailout, it is tempting to think that the crisis is over. Tempting, but wrong.

The threat of imminent financial disaster has been averted, but only by kicking the can a bit further down the road until October. At that point Greece will have had its first review to see whether it is meeting the terms of the latest agreement, and the International Monetary Fund will have to decide whether it wants to be involved in the financial rescue package. Both are problematic.