[crdoconnor]

>Or it would signal that ending austerity is actually impossible

It basically signaled that the Troika will cajole, threaten, blackmail and generally do everything in their power to keep the austerity train going.

Ultimately, though, that's the way to destroy the currency union. An economic policy based upon wage suppression and privatization of monopoly industries is nice for some people, but it isn't sustainable.