In Greece, it’s not quite accurate to talk about the “rise and fall” of the left-wing party Syriza. “Rise and plateau” would be more fitting.

Syriza came to power in January 2015 promising to confront the “troika” — the European Commission, the European Central Bank, and the International Monetary Fund — to secure an exit from the Greek debt crisis and end the austerity under which Greeks were suffering. Thus commenced five months of high-drama negotiations that culminated in a national referendum in which the Greek people said a resounding “no” — “Oxi” — to the deal offered by the troika.

Yet in the face of this historic response, Syriza prime minister Alexis Tsipras went towards the creditors, signing a third memorandum resigning the country to ever deeper austerity and mounting privatizations.