If life were fair and just, IF!, the Greeks would be out marching to thank the more productive parts of Europe for carrying them for so long... but that's not how it works, is it?
Greece's unions and social programs have DOOMED the country, and it will absolutely, positively default on its sworn promise to repay money it borrowed. In other words, the people supporting these groups and programs feel they are ENTITLED to STEAL money, effort, security, and resources from others. Does that sound so different from the agenda of WAR?
America's school teachers, firemen, police, etc... along with present day Social Security recipients and anybody else on the dole are doing the exact same thing here in the U.S. There is a REASON that the average non government working family has little to NO SAVINGS, will never have financial security, and the U.S. is sitting on a political powder keg of its own. Our government has confiscated the efforts of these people to satisfy the union government worker and those receiving benefits from the social programs! As a result, we have crazy people leaving car bombs in Times Square and flying planes into IRS buildings! WTF?! Our government, like Greece, needs to take the pressure off of the people that pay the bills - or you can expect this kind of miscreant behavior to increase in frequency and severity.
The U.S. needs to take are LONG, HARD look at Europe as it unravels, because that is the ultimate outcome here. The Eurozone will not survive the decade, and I question if it will survive the next couple of years. Boy, that didn't last long, now did it?
BTW, I harbor no illusions. There are simply too many true believers in the proverbial "free lunch" on this side of the Atlantic now, NONE of them holding any reasonable concept of economic reality. For years they have been looking to the economic model in Europe (and worse, Russia and China) with envy. It is impossible for them to accept that their lifetime belief system was a farce.
Yea, the EU (Germany) and the IMF might be able to hold Greece together without a "default" for a while. That's not a real fix under any circumstances. How much longer the balance of the PIIGS can hold it together remains to be seen.
The cure for too much debt is not more debt. The cure of a lack of production is not less production and more benefits. Greece's citizens are not paying for what they receive, and that is going to come to an end irrespective of how many windows they break, how many cars they set a fire, how many people are injured or killed...
Take a good, hard look America. This is where FDR through Barney Frank/Barak Obama has left you, with a LOT OF HELP from George W. Bush (who I think is a very good person, but who spent money like a Liberal and put us into wars that very well could undo the U.S.). There isn't a shred of difference between the policies of GWB and BHO, which can be summed up as "Kick the Can Down the Road".