The euro hasn't tanked, markets are down a bit but haven't crashed, and the creditors are busy preparing a new offer for today lunchtime...

They are all falling over themselves to assure everyone that they would already have been talking debt reduction over the weekend, if the Greeks hadn't slammed the door. Perfidious bastards.

So I'm aligned with Jake's thesis that this is a pre-planned and masterful ploy by the Greeks, rubbing the troika's nose in its own collective stupidity, which will garner major concessions on debt restructuring at very little cost.

So how does it play out?

1. Creditors table a new offer today
   
2. Tsipras says, very interesting, let's keep talking
   
3. By about Thursday, a feasible proposal is on the table
   
4. Tsipras says, we can now recommend a Yes vote in the referendum
   
5. No doubt about the result
   
6. Banks and stock market open normally next monday