[JasonC]

That's silly. Greece can readily service its debts if it makes it a priority to do so. If they decide that make believe and giveaways are more important than their financial future then they can fry themselves, sure. But there is no reason for them to do so, and nothing stopping them from putting debt payment way above silly giveaways to public employee unions and welfare deadbeats and all the rest of it. It is not like the state in Greece doesn't have the revenue. It just throws it away on useless crap.

[bruinbirdman]

"It is not like the state in Greece doesn't have the revenue. It just throws it away on useless crap. "

Melonesque liquidation = the public sector liquidates the private sector?

Any government with enough power can spend as it pleases while it liquidates the private sector?

yitbos