That's Karim Sadjapour's assessment, as a consequence of Iranian "simultaneously [having] delusions of grandeur and profound insecurity." His view of the prospects for negotiation:
What the Obama administration is trying to do is to subject the Iranian regime to enough pressure to bring it back to the table and get it to make meaningful compromises on the nuclear part. And there has been tremendous pressure in terms of the Central Bank sanctions, now the currency crisis.
There's external pressures as well. Their chief ally, the Syrian regime, is on the verge of collapse. The question is whether Iran's supreme leader, Ayatollah Khamenei, will calculate that — whether he will seek deliverance in a nuclear compromise in order to bring about some relief to himself, or whether he will seek deliverance with a nuclear weapon itself, thinking that that will bring him a shield from outside pressure. I think recent history doesn't bode very well
Gary Sick worries about the unintended consequences of our pressure policy. Michael Elleman runs down the evidence that Iran is looking for a nuclear missile. Dalia Dassa Kaye, Alireza Nader, and Parisa Roshan track [pdf] the history of Israeli-Iranian relations and the potential for a crisis if Iran nuclearizes.
The Dish 