Is Papandreou’s referendum idea so bad after all?

I don’t like all this the ‘French and Germans are warning Greece to accept the bail out or else’. Or else what? The French and Germans can go get stuffed. We all know that the bailout has nothing to do with saving Greece and everything to do with protecting the quasi-insolvent French and German banks, so it’s hard to accept the strictures of Merkel and Sarkozy, demanding Greeks sacrifice themselves for the sake of their political careers and Franco-German financial institutions. In which case, I’m warming to the idea of a referendum and a ‘no’ vote. If we accept Yanis Varoufakis’ logic that Greece will never be forced out of the euro (stated here as the Eagles’ doctrine, ‘You can check out any time but you can never leave’), because Greece leaving the euro would bring the whole eurozone project down in double quick time, then what might occur – after a Greek ‘no’ – is that the eurozone leaders will abandon the current 26 October deal, which envisions Greeks suffering for 20 years to save the banks, and come up with ideas for emerging from the crisis based on investment and growth.