For five months, negotiations remained at an impasse, culminating in the July 5 referendum in Greece, in which voters overwhelmingly rejected further austerity, and the Greek government’s subsequent surrender, formalized in the July 12 Euro Summit agreement. That agreement, which is now the blueprint for Greece’s relationship with the eurozone, perpetuates the five-year-long pattern of placing debt restructuring at the end of a sorry sequence of fiscal tightening, economic contraction, and program failure.
但是，在2015年，初级盈余已经实现，而希腊债权人甚至拒绝讨论债务纾困问题。五个月来，谈判者毫无进展，最终导致了7月5日的希腊公投。在公投中，选民一边倒地拒绝了进一步紧缩以及希腊政府随后的就范（通过7月12日的欧元峰会协议正式化）。目前，该协议是希腊与欧元区关系的蓝图，它延续了五年来的模式——在一连串令人抱歉的财政紧缩、经济衰退和计划失败后祭出财政重组。