Tsipras Surrenders

European Union leaders probably won’t allow Greece to default and drop out of the euro zone over something as puny as that, so it’s highly likely a deal will be reached at an EU summit on Thursday. Greek stocks and bonds have reacted with buoyance, as if the deal is already done. Yet some obstacles remain: Hard-line supporters of the ruling Syriza party will oppose anything that looks like caving in to creditors. Yet if Prime Minister Alexis Tsipras can convince his party’s left wing to go along, Greece may be able to avoid default and shift its focus away from temporary fixes to rebuilding a more sustainable economy.