Ever since the media spin that presented the February 20 agreement between the Greek government and the Eurogroup as almost a victory started subsiding, the main argument of its supporters has been that “it bought some time.”

Some concessions had to be made, proponents say, but they took place within the framework of a “propellant compromise,” to use the terminology of deputy prime minister and prominent figure of Syriza’s “realists” Yiannis Dragasakis.

The argument here is that there would be no additional austerity for the four-month duration of the agreement, the liquidity problem that brought the banking system to the verge of collapse would be temporarily resolved, and the government would have some room for maneuver in its preparations for the new round of negotiations in June without having to abandon its strategic targets. It does not constitute a defeat, therefore, but a tactical retreat that works in favor of the Greek side.