An Interesting Country to Watch

Greece has found some cards to play.
It is no secret that the world has been watching Greece since the beginning of the Great Financial Crisis (GFC).  'Can they avoid falling out of the  Euro?' has been the question everyone has been watching to see answered.  Initially the European Union (EU) put all efforts into keeping  them in, but as the years have ground by and the EU has built greater resilience into its financial institutions (or at least believes it has) the efforts have gradually changed to trying not to let the Greeks get away with too much unearned credit.  It was a story which promised dramatic events, but had become a rather slow and repetitive melodrama.
With the recent election to government of a 'non-establishment' party, however, Greece has once again become more interesting.  The new government, no longer bound by the old establishment alliances, has found that despite the country's dire situation they have some cards to play.

CARD ONE - THE ACE - RUSSIA
The overthrow of the Ukrainian Government and the subsequent developments, including sanctions against Russia, have made Greece far more strategically important to Russia now than it was at the start of the GFC.  Now, with Russia looking to break the unanimity of EU sanctions against it and also to break the unanimity of the NATO alliance, they would be willing to pay a high price for the defection of Greece, most probably including the economic support of the country after a default on its debts to western nations.  The EU and the Americans are well aware of the political consequences of a Greek re-alliance with Moscow and so this is a strong card to play in getting further concessions from them.  If this card alone is not good enough to convince the Europeans to bail out the Greeks then it could indicate that many Europeans are less worried about the political consequences of a  Grexit at this point than the Americans.

CARD TWO - THE JOKER - NAZI COMPENSATION
Another card that the Greek Government has suddenly played is the claim for compensation for the Nazi occupation.  Predictably, this request has met with a cold reception from many in Germany who cite previous payments as appropriate compensation, but there is a considerable portion of the German Bundestag which is viewing the claim more favourably than many would have predicted.  
In the negative, some are arguing that if they grant this claim to Greece then they will be left open to claims from other formerly occupied countries.  This is true, but if the EU just bails out Greece to keep it in the Euro then they (read mostly Germany) will be opening the door to all of the other indebted EU countries.
At this point in time the compensation for Nazi occupation would amount to a smaller sum than the GFC debts.  Notably, Spain, Portugal and Ireland were never occupied by the Nazi's and Italy, although briefly occupied, was originally an ally of the Nazi's so any claim made by them would be in a different category.
The Germans might just find it expedient to pay Greece's compensation claim and consequently bail it out in a way which will not let the other major GFC debtor nations off the hook.

In conclusion, a Nazi occupation compensation payment could well be a blessing in disguise for the Germans.  However, the Germans may yet weigh their interests and decide that the Euro has outlived its usefulness, or that they are not that scared of the Russians.
What is sure, though, is that Greece is once again an interesting country to watch.