The headlines this morning blare that an "Agreekment" has been reached between the Eurozone and Greece. After a marathon day-night-day negotiating session over the weekend, it appears that a "Grexit" was avoided in the wee hours this morning. And while one's initial reaction might be that it is time for the markets to celebrate, the details of the "deal" suggest that it might be best to curb that enthusiasm a bit.

You see, the "Agreekment" is not really a final deal in and of itself. No, there is merely an agreement to begin the negotiating process a third bailout for Greece. In reality, Alexis Tsipras must implement a list of economic reforms by Wednesday as a precondition to what is being called "a possible start to formal negotiations."

Oh, it is also worth noting that (a) the terms of the this deal are actually much tougher than the one the citizens of Greece voted to thumb their noses at last weekend, (b) the negotiations won't start until Greece actually passes the new austerity and reform measures, and (c) the deal has to be passed by the Greek parliament and various Eurozone member states. As such, anyone thinking that Greece is now "fixed" and that the latest drama is over may need to think again.

For example, Eurogroup head Dijsselbloem said he hoped that a formal mandate to begin bailout negotiations will be agreed to by the end of the week. Note that there is still some time pressure here as Greece still needs €7 billion in financing by July 20th and an additional €5 billion by mid-August to meet near-term debt obligations.

Then there is the issue of the official approvals of this "Agreekment"... And given the recent emotional public vote by the Greek citizens, this could easily become problematic. ...

With Greece apparently "fixed" (well, until the next do or die meeting, which is set for Sunday, that is) and Chinese government officials doing everything they can to put in a "fix" for the recent plunge in stock prices, it ...

The good news is that the situation in Greece appears to be moving toward a conclusion. Just this morning Tsipras & Co. have submitted a request to the ESM for a fresh, 3-year bailout along with promises to implement tax ...

Cutting directly to the chase, the key to the current drama in Greece - as far as the markets are concerned - continues to be the expectations for a deal to get done. Make no mistake about it; this point ...

Although it would be nice to be able to move on to other important issues, the bottom line is that Greece clearly remains the focal point for traders from a short-term perspective.

Not surprisingly, Greek citizens voted "no" in resounding ...

With Greece continuing to be this market's focal point, it is once again important to stay abreast of the happenings. And with the deadline for Greece to make a loan repayment to the IMF having come and gone, there is ...

Well, well, well... I will have to admit that I didn't see this coming. Having dealt with no fewer than three prior Greek crises since 2010 (the results of which were always the same) one could hardly be criticized for ...

Since Greece has once again become "the word" for this market, we thought it would be a good idea to do a quick roundup of current events. For starters, it will suffice to say that the Greek saga dragged on ...

The headlines after the close of business yesterday read something to the effect of, "No Signs of Greek Deal." This proclamation was supported by a series of stories throughout the day detailing the breakdown of negotiations. The wires reported that ...

Are we having fun yet? If you are invested in the market for anything other than the daily hysterics relating to the latest developments in Greece, the answer is likely no. While it is almost unfathomable, the action in the ...

From a short-term perspective, it is clear that this market remains all about Greece. (Yes, again/still.) For the umpteenth time since 2010, the market is forced to deal with the headlines, the comments, and the drama coming from a country ...

On Sunday evening, it appeared that there had been a breakthrough in the stand-off between Greece and its creditors. The wires indicated that officials in Athens had relented and despite an awful lot of rhetoric to the contrary, had submitted ...