Otherwise I think it qualifies as the first small step back by the Europowers that be on their austerity offensive

It is a fissure, however symbolic. Better than nothing. For the Troika better than Grexit or Gritcoin, for Syriza better than an outright 'NO'.

Considering how much the financial house of cards world depends on 'confidence' even a small symbolic fissure can be important.

Butterfly >> hurricane etc.

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty