Even if you believe a Greek default or exit can be contained and the euro zone will survive, isn't the greater fear here what this will mean for sentiment, risk assets and markets?
U.S. equities are trading around record highs after a lackluster earnings season and as data on Friday confirmed U.S. gross domestic product contracted by 0.7 percent in the first quarter.
Second-quarter data is already showing signs of recovery but it follows Federal Reserve Chair Janet Yellen saying she's still looking to raise rates this year in any case. We can't rely on bad news being good news for stimulus any more.
We should also consider whether Janet Yellen's more afraid of potential market turbulence created by the start of rate rises or that something else like a Grexit blows any U.S. recovery off course and she's not taken the opportunity to raise rates while she had it.
It isn't just about the U.S. China's Shanghai market snapped a seven-day winning streak on Thursday last week falling 6.5 percent. The tech-heavy Shenzhen Composite, which had more than doubled this year alone, lost 5.5 percent - its third-biggest fall in five years. The Chinese Central Bank providing liquidity to offset the growth slowdown with one hand and trying to temper enthusiasm with the other.
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Japanese equities meanwhile are also trading at 15 year highs despite the concerns regarding the efficacy of Abenomics. Japan's central bank governor Haruhiko Kuroda told CNBC last week he's not concerned about brewing bubbles.
That's just the equity markets. Never mind for the bonds markets. With all the liquidity sloshing around you'd be forgiven for questioning investors ability to gauge fair value any more.
Even without the Greek woes it is enough to make any risk taker cautious.
So while investors grapple with value, economic recovery and the calibration of extraordinary monetary policy the question is whether Greece could trigger a more significant reassessment of current pricing?
Maybe, maybe not. But each day these negotiations drag on that risk becomes more likely and investors would surely be wise to expect decent volatility while we wait.