After months of negotiations, missed deadlines and more negotiations, a deal between the Greek government and the country’s creditors has finally been agreed.

After voting against an austerity package by referendum last weekend, the new and – you would have assumed – improved creditor’s programme agreed this week contains even stricter, more devastating requirements.

Under increasing domestic political pressure not to blink in the face of Greek brinkmanship, going into negotiations German Chancellor Angela Merkel vowed that agreement would not come at any cost.

Ahead of the talks Merkel spoke of trust as currency yet, despite the Euro surviving the deal reached, trust in Germany and democracy in Europe more generally has lost a lot of its political capital.

When faced with the choice of offering Greece humility or humiliation, it appears its creditors opted for humiliation. That Merkel and company seemingly showed no mercy throughout this process makes sceptics of those whom have for so long advocated an “ever closer Union”.

What the Eurozone crisis and especially these recent bouts of negotiations have demonstrated is that the European Union, far from being an institution which holds democracy at its heart and places nation states on a level footing, is a union currently governed by tiers.

During negotiations divisions appeared with the likes of French and Italian leaders rubbishing Berlin’s suggestions of a temporary Greek exit from the Euro – or “Grexit” – but ultimately, practically, power clearly lies with Germany.

Trust in participants of political negotiations can be just as important as investors’ confidence in financial markets. The Greek deal may have relaxed anxieties over the Eurozone for now, but unease with Germany’s overt dominance will surely increase.

A so-called team or union of states dominated by just one player or nation will do no good for an institution whose members continue to witness a stark rise in their Eurosceptic political discourse.

Merkel’s deal may have been successful in securing the future of the Euro and fending off her domestic opposition, dictating terms to Greece and brushing aside her Euro allies does little for Germany’s political capital.

It does even less to convince Euro-neutrals in Britain and elsewhere of the EU’s political benefits and democratic credentials.