Or it would signal that ending austerity is actually impossible for Greek politicians. If several parties in a row had promised to double the number of moons, they would also have had to renege on that promise.
The main difference is, of course, that it wasn't clear that it would be impossible to end austerity, with some thinking that the Troika would give in. But that doesn't mean the end of democracy.
>Or it would signal that ending austerity is actually impossible
It basically signaled that the Troika will cajole, threaten, blackmail and generally do everything in their power to keep the austerity train going.
Ultimately, though, that's the way to destroy the currency union. An economic policy based upon wage suppression and privatization of monopoly industries is nice for some people, but it isn't sustainable.
The main difference is, of course, that it wasn't clear that it would be impossible to end austerity, with some thinking that the Troika would give in. But that doesn't mean the end of democracy.