Greece really aren't giving their allies much to work with are they? The lack of market turmoil over the last few days is probably just going to strengthen the Eurozone resolve to resist Greece's demands and offer up a final 'take it or leave the Euro' deal.
Their big miscalculation was to assume that the precedent of a country leaving the Eurozone would strike up such fear that a deal would be forthcoming if they held their ground. In the end they've gone into the talks with no leverages and with lenders facing domestic pressure to resist the Greek demands. Also the lenders are the ones with the money. If you go to your bank and demand a reduction in your mortgage but you want to keep the house then the bank wouldn't be willing to play ball.
This is the front cover of a German finance magazine. I don't speak German but apparently it translates to 'Give me the money or I'll shoot':
