Like a smack-head desperate for a fix, Greece is ready to promise anything to get its hands on the next instalment of EU / IMF cash. "On my mother's grave, it's for milk for my baby" she pleads, before using the cash to buy the next wrap of brown poison. There can be few who actually believe Greece will enact the austerity measures promised; to do so would be to invite complete revolution. But the EU / IMF aren't quite ready to deal with Greek default, so they pretend to believe that Greece means it, and agree to buy another 12 weeks of time at a cost of £100bn.
I cannot find one single informed commentator who actually believes that Greece can recover from this crisis without defaulting.