What will happen in Greece?

That's the question everybody is asking. And no, I don't have the answer. But we do know that Tsipras promised to renegotiate the debt, and that Yanis Varoufakis, who has been suggested as the probable finance minister has said that the current policies are a: "kind of fiscal waterboarding policies that have turned Greece into a debt colony." You may want to read Yanis Modest Proposal, co-authored by Jamie Galbraith and Stuart Holland and linked here too. Also, this paper by Dimitri Papadimitriou, Michalis Nikiforos and Gennaro Zezza might be of interest to understand the possibilities and constraints Greece is currently facing.

A new edition of the Modest Proposal for Resolving the Eurozone Crisis

Galbraith and Holland at the Central Bank of Argentina

A new edition of Yanis Varoufakis and Stuart Holland's Modest Proposal is out, now co-authored by Jamie Galbraith (for more here).