All these bailouts do is push back the inevitable a year or two. But it the process they will hasten the destruction of the countries doing the bailing out. Lose-lose all around.
Not everyone will lose — the people collecting the interest and their attorneys will ALWAYS get theirs and win. The don’t give a crap about principal unless the folks that provided the stakes (depositors) show up in large numbers to get their own principal back. Of course, the bankers have and answer to that too as the folks in Cyprus found out a couple of years back.