Believe me, because I lived in Greece in the 80s-90s----this is a classic case matching the international criteria for "odious debt" that should be refused. As the EU took shape, northern banks came in offering credit cards/loans like candy, promising "jobs via growth" to take care of them. Surprise---no jobs. Every Greek told me they'd be "screwed" from the start by joining the EU. They were right. "Odious Debt" has 3 criteria---A) loans made without the people's knowledge/consent; B) repayment is actually impossible; and C) repayment will destroy the country and harm its people. The only true way "forward" is default----and the alternative is permanent slavery for banksters while they sell off the country for profit. So the answer is---leave the EU, build their agriculture and tourism, and go their own way. Like Argentina and others, they'll survive and have their own country/economy, which is worlds better than any alternative. TO HELL WITH THE BANKSTERS!!!!!! They gambled on profit (that's what a loan IS), and the loss is theirs to swallow.

A one-continent money system doesn't "feel" right. Put 1 vote down for: DROP THE EURO.

A little late for that now. I am sure they'll be thrown out once they've been gutted. But they're not going to be allowed to leave for a while. Control has to be maintained.

Too bad Greece doesn't have option to file a Chapter VIII bankruptcy. In any case, they should tell the money guys to eff off.

Massive Occupy, and destruction of Banksters through national defaults, the way forward!

Greece should never have joined the Eurozone in the first place as it's financial house wasn't in order and didn't meet the criteria for membership. Yet, with a litttle help from Goldman Sachs, they cooked the books back in 2001 so they looked eligible to join and now it's all backfired on them. Yet strangely, not on Goldman Sachs who made a lot of money out of it and then got away with the deception scott free: no one was punished, no one brought to trial. In fact, no one even mentions it!

As long as Angela Merkel is the de-facto Chancellor of Europe, yes. Merkel is spectacularly unequipped to deal with this.

Tax the rich? Nationalize the banks? Sounds like those might not be a bad ideas for us as well.

I read once that the United States was against the EURO because it weakened the dollar,....so wonder if the elite in the United States is funding the countries to riot and push out Euro. They have done it to stir up the countries to oust leaders so we can control the Oil??--- Food For Thought!

Quite a deeply disturbing situation. One can't stop wondering whether or not the "political will" argument does mean something, and if so for which instances? Compexity of international finances, investments, banks and their purposes are interlocked in hopelessly politically sensitive settings. And the question to that effect: WHO IS GOING TO WILLINGLY BEAR THE OTHER*S RESPONSIBILITY, inevitably becomes acute! Solidarity is not totally watered down even in EU-Common currency case, also telling that sorting out issues of political will as matter of "instances" is a serious one. The typical case of the EU-zone is a reminder of larger cries about the need to rework our capitalistic operative norms and practices for confidence of the market, moderately stimulating growth hence chances to better "master" the control of fluctuations in systems locally, regionally and globally.

So while sorting things out, taxing the question of political will and instances is also useful for short/long-term visions --- it is a "rethinking" and possibly "quick" reaction process-case for all!