In the last few days "Bollyline" has become a popular media tag (perhaps more so outside Australia) to describe the current situation. It's got a nice ring to it, but I'm not sure whether the jaunty, lavishly choreographed, happy ending style of Bollywood movies is apposite.
Perhaps at the moment we are only in the intermission, another defining characteristic of most Bollywood movies, as we await the next steps, most of which will be attempts to resolve the issues which have arisen in the last week (has it all really happened in such a short time ?).
Only The Advertiser of the papers I've looked at today (the others are The Australian and The Age) has a big front page splash "Ponting: we're not arrogant or cocky", which is watered down on the Adelaide Now website to "Ricky Ponting denies his team arrogant, big-headed".