Secretary General Ban Ki Moon to meet with Iraq's leadership including Grand Ayatollah Sistani on 24 July. The meeting which is understood, in essence, to have been primarily a consultative one, is potentially a critical turning point in the United Nation's involvement in Iraq's steps towards democracy.
While the Iraqi military, with some help from Iran and the U.S., may be able to hold on to what is left within its purview, it's hard to see it reclaiming much territory without major foreign interventions. Which could easily backfire, both for Tehran and Washington, the only capitals which might be involved.
ISIS has effectively shown another way forward: to forget about Damascus and Baghdad for now, forget about the Sykes-Picot borders and create a new political space out of the parts of Syria and Iraq that their capitals do not control--a large and viable political territory with major historic cities, trade routes, oil resources and borders potentially abutting Turkey, Saudi Arabia and Jordan. For now, let's call it Syriaq.