Endoscopic third ventriculostomy
Endoscopic third ventriculostomy (ETV) is a surgical procedure in which an opening is created in the floor of the third ventricle using an endoscope placed within the ventricular system through a burr hole. This allows the cerebrospinal fluid to flow directly to the basal cisterns, thereby shortcutting any obstruction. It is used as an alternative to a cerebral shunt[1] to treat certain forms of obstructive hydrocephalus, such as aqueductal stenosis. Complications include subarachnoid hemorrhage, basilar artery injury and hypothalamic or pituitary injury.
You can see this surgery performed at http://www.youtube.com/watch?v=SKwz0Xbj-hw
When it is not possible to perform an ETV for different reasons, an alternative treatment is opening the lamina terminalis anterior to the third ventricle.[2] The effectiveness of this approach is not certain.[3]