In Florence’s Bargello museum stands Donatello’s bronze statue of David, in a straw hat and calf-length boots, victorious over Goliath. If he were alive today to recast his sculpture on a topical European theme, the great Renaissance artist might be tempted to show Goliath as the eurozone, dressed in a suit and triumphant over David, a Greek youth wearing no tie.
The confirmation that Greece’s European creditors hold the upper hand over its radical leftist leaders by no means heralds a resolution of the debt crisis. A lack of mutual trust permeates this week’s interim agreement between Athens and its partners. The Greek economy and financial system are more precariously positioned than before the January 25 election that catapulted the left-of-centre Syriza party into power.
But the deal offers space for Europe to build on various positive developments that, so to speak, were airing on other channels as everyone watched the latest episode of the Greek drama. None of these alters the point that much remains to be fixed in the eurozone, but they do suggest that patches of sunlight are breaking through the clouds.