Without a deal between Athens and Brussels and the IMF on economic reforms and repayments of loans within the next couple of months a Grexit or Graccident would be the most extreme outcome. We cannot rule out that the parties will fail to find a solution seeing as how the Greeks are dawdling and in the light of the harsh words uttered by, among others, Germany.
Most important, even the mere consideration of a programme of this nature might change the atmosphere of the discussion. It may change the current toxic environment where everyone is pulling in opposite directions with each party losing patience with everyone else, to a constructive discussion about a long-term solution with a short-term, finite safety net.
Everyone is portraying it as a game of poker. They couldn't be more mistaken. It seems impossible to get Greece off the front pages of the newspapers. And so it should be. The current untenable situation poses an existential threat to the European Union. Many are treating this as a game of bluff and double bluff...
What we have is bland and complacent two-dimensional politics, where Tories and Labour vie for a mythical centre ground and target policies at handfuls of voters in marginal seats. A fairer system would genuinely shake this consensus and could help diminish the concept of the protest vote, sidelining those who play the system only to stoke fear, hatred and suspicion.
New Greek Finance Minister Yanis Varoufakis is cutting a dash as he jets around Europe economy class. It certainly makes a change to see a leader so seemingly down to earth even if I think he'd look more credible with his shirt tucked in. But as the rest of the Eurozone wonders how to solve a problem called Syriza what are the rights and wrongs of this situation and where can the solution be found?
Left-wing Syriza lead by Alexis Tsipras has not wasted time after winning the Greek elections: he formed a coalition with the right-wing anti-bailout Independent Greeks and the new government is now involved in a very high-stakes game of chicken with the Troika (the European Commission, the ECB and the IMF).
What is "extreme" about providing free electricity and food stamps to 300,000 Greek families now living below the poverty line, as Syriza has pledged to do? Syriza's programme of debt relief, fiscal stimulus and financial support for the poorest, rather than the richest, is mainstream macroeconomics. The party is merely planning to do what the textbooks suggest.
The Greek elections really show that politics can generate interest and excitement. In their hearts, electorates really want their Governments to govern and to do things. It may suit Nick Clegg to try for honesty with the electorate about can and cannot be achieved by Government but Greece shows that sometimes they want dynamism and action.
The question is do we really need to feel a sense of fear or discomfort to become truly engaged in politics? Do we want to be numb to what's truly going on and get distracted by reports in mainstream tabloid media putting the blame on the overused and now farcical phrase and sentiment of: "its the immigrants coming over here and nicking our jobs?"