One of the questions I left out concerns the possibility of creating a public bank (by integrating the 3 banks that are under public ownership now), endow it with publicly owned real estate, have it borrow money from the ECB at banking rates and lend it back to the Greek state at practically the same minimal rate. This is pretty much a tactical vehicle that brings about your "financing the Greek debt at the Frankfurt overnight rate" (and is what the Greek Coalition of the Left is proposing btw). Would that be more politically palatable / feasible?

The road of excess leads to the palace of wisdom - William Blake