It is difficult to have sympathy with Euroland’s bosses. Greece may be a basket case and have committed every financial sin in the book, but if the plan is to keep the country in the Euro, some kind of deal has to be cut to re-boot its financial system and at the same time recognise that the social limit has been reached in how far the Greek people can be pushed, humiliated and made to suffer. This is especially because those who suffer are not the ones guilty of the misgovernment and fiscal mismanagement which put Greece into the state in which it now is.
Either do that or face the losses and walk away, leaving Greece to go back to the drachma. But this game of cat and mouse has to stop.