[AnimalMuppet]

Here's where I think we are: Anything Greece would consider fair, Germany would consider unacceptable, and anything Germany would consider fair, Greece would consider unacceptable. There is no place where their positions can meet.

Asking for a referendum is clever. He's going to get the Greek public to share the blame for the consequences of what comes. But notice the words he uses when he places it before the voters. He's asking them to reject the bailout terms.

[contingencies]

That struck me as well, but I wonder if perhaps he's not really allowed to reject the terms himself?

Critically, by having the people reject the terms he is not going to be labelled a sellout in domestic voters' eyes and thus will retain a chance at an additional political term.

He doesn't really have another option.