I doubt this Greece deal will last very long. We still don't have enough info to tell. The finance ministers did get Greece down to 120.50% debt from 129% however the caveat is that Greece has 8 years to get down to that debt level...
It also is contingent on the private bond holders taking over a 53% haircut. I think we need to hear from the bond holders that they have agreed to that cut.
Germany still has to vote on this draw of 173 Billion that the German tax payers get to help float. Germany does seem to have softened a bit over the weekend but this "deal" is no where near a done deal yet.
If Greece is going to survive they will have to get their debt down to around 80%. Argentina was in much better shape than Greece and they still collapsed.
This Greece bomb has been going for a few years and will continue to plague our markets well into the future. The only silver lining is the longer this plays out the more likely an "orderly" default is.