“Now it is necessary for the rest of the world to turn their backs on Greece. They will have run out of other people’s money . The only source of money for the government will be bank deposits, pension balances and whatever stash of precious metals may be hidden under their citizen’s mattresses. After all these years they are going to have to spend their own money. Oh, the horrors! “
It is easier than that.
1. Freeze bank accounts.
2. Print Drachmas and make legal currency.
3. Change balances from euros to drachmas.
4. Renounce sovereign debt. Happens all the time in history.
5. Rebuild.
It will not be easy. It is the only way out.
Within a short time, many lenders will be excited to lend money to Greece, since they have no debt.
The Russians and the Chinese maybe sniffing around for opportunities if they help bail out Greece.