Financial markets are cautiously optimistic that some kind of deal can be struck between the Greeks and the rest of the EU to prevent their exit from the EU and a potential collapse of the euro as a common currency. While it is likely that a deal can be made, the Greeks, based on their horrid track-record of lies, will never hold up their end of any bargain. They got into this mess in the first place by lying about their sovereign debt, which was roughly twice what they claimed it was, just before their entire economy imploded due to their inability to service that debt. Now we are supposed to believe that they will abide by the terms of this agreement, which is supposed to replace the original agreement that they already struck to pay-back the bailout money they took to prevent their exit from the EU when all this started. Do we see a pattern here; oh you betcha!
There is no way Greece will ever keep their word. They haven’t thus far, throughout the crisis, and there is no good reason to think they will in the future. Financial markets can rejoice an agreement all they want, but it means nothing if/when Greece fails to meet its obligations under that agreement.