[Toddsterpatriot]

If the Greece of history still existed, the EU and the private banks would be cowering in fear, because the EU and the private banks have ruthlessly exploited the Greek people and represent the same threat to Greek sovereignty as Persia did.

Ruthlessly exploited the Greek people.....by lending them more money to waste on their bloated government? Money the Greeks will never repay? LOL!

That's some funny exploitation.

[Fungi]

Bingo. The analysis is flawed from the outset. This is nothing more than a return to more socialism, as if they have not had enough. It will fail. The only thing keeping the EU afloat is Germany. When the Germans have had enough, the EU will collapse—and it will happen.

[palmer]

Ruthlessly exploited the Greek people.....by lending them more money to waste on their bloated government? Money the Greeks will never repay? LOL!

PCR didn't explain it well, but you missed his point. Certain "Greek people" benefit from the loans and other "Greek people" pay them back. Your point would be valid if those were mostly the same people. The problem is that they are not. The Greek people got their chance to save and invest being overpaid in the much stronger currency that did not deserve. But predictably they spent it on imports and had nothing to show for it. The real beneficiaries were Euro (e.g. German) exporters, China, and rent seekers within Greece.

Around 2010-2011 they were declared to be a PIIGS domino and thus were not allowed to restructure and therefore had no chance whatsoever of avoiding their present fate: too much to repay and no way to repay it. The productive Greeks who are now a minority are the ones who have to repay. The unproductive Greeks who just voted for a bigger slice of pie are in the majority and have screwed themselves.

The obvious solution is still restructuring or default and removal from the Eurozone. The Greeks need their own currency so they can have 100% inflation to culminate their experiment with socialism. It will be ugly but that's the only way to fix that kind of stupidity.