Game theory works fine. Tsipras simply blinked. The power of Greece's argument was that in a case of a Greek default, the EU could either do their current QE *

Game theory works fine. Tsipras simply blinked. The power of Greece's argument was that in a case of a Greek default, the EU could either do their current QE * 30 for a month or two, paying all of it to Greece's lenders (like they did in 2008), or face nearly all regional banks going bankrupt. Discussions weren't going well. The EU froze most of Greece's bank accounts, and ... then Tsipras simply gave in, seemingly getting very little in return.