Where is the middle ground on insolvency?
Well.
We’re insolvent today. We’ll be insolvent tomorrow, and we’ll be insolvent next week, regardless of what happens.
The only question is, what is the best path forward to try to crawl back to solvency at some point in the next decade.
It might well be that as for the choices that we have in front of us for the crisis of this hour, that some sort of creative deal does the least amount of damage possible - given the political reality.