The Germans aren’t going to push immediately to have a rescheduling of the Greek debt. They aren’t urging Greece for now to tell its bond holders that it will pay them at a later date. For now the IMF will get assurances that Greece will get the money it needs for the next two years so that American-made institution can release its next slug of funds due under the original bailout.
The Greeks themselves seem to hardly notice the hastily put together, temporary compromise to avoid a blow up before July. They continue to protest for the sixth straight day. Professors walk off the job because they weren’t yet paid. Some universities don’t have enough paper.
Germany and Greece are worlds apart. But at least now the worlds won’t collide this summer.