“But the Greeks can print them.”
Only under the auspices of the European Central Bank.
“How funny if they just keeps refilling the ATMs with what amounts to government printed counterfeit money.....”
I’m sure that would be considered an act of war with the EU, which wouldn’t actually have to send soldiers in or anything like that, but could simply stop trading with the Greeks who don’t make much on their own, import ALL of their fuel, ALL of their pharmaceuticals, and half of their food, and pretty much everything else for that matter.
Already happening.
http://thenextweb.com/apple/2015/07/04/all-greek-to-me/
Greeks can’t use iTunes and the App Store thanks to crisis
Printing euros is an option, and the Greeks have the ability to do so. And absent starting a war, there isn’t a whole lot the EU can do about it. I hope they won’t because that would hurt people who had nothing to do with Greece. Desperate people do desperate things.