Virtually all European media are running articles speculating about the likely impact of a Grexit or a default without Grexit on the Eurozone and the global economy.
However, there is another, political aspect to be taken into consideration. Is it desirable to keep Greece with its current government in the Eurozone?
Let us face it: Syriza is dominated by a bunch of crypto-communists, trotskyites and anarchists who may individually be very likeable people but as a group are fitting into modern Europe about as well as a Salafist or a fascist government.
It is quite remarkable that conservative politicians such as Merkel or Juncker have engaged in weeks of discussions with these hot-headed radicals dreaming of defeating "capitalism" and establishing their version of a Socialist paradise. It must be very trying for a Christian Democrat politician, for instance, to consider any concession to a government located at the opposite end of the political spectrum.
It is obvious that the Greeks would love Syriza if it succeeds in imposing its will on the "institutions". A successful Syriza could dominate Greek politics for years to come. Cheeky as they are, once Greece is saved, Syriza would attempt to impose its views on Brussels, to manipulate the Eurozone and the European Central Bank. A trouble maker par excellence.
The question would arise: how much Greece can Europe support? The experience of the past few weeks is not encouraging.