If Greece defaults, its creditors should sue for repayment with art treasures from the National Museum. If Spain—treasures from the Prado. If Italy—well—you get the idea.
“its creditors should sue for repayment with art treasures”
It might surprise you to know that in the US, if the government defaults, you’re out of luck. Congress decides if you get paid. If they don’t allocate the funds, you don’t get paid.
If Greece defaults the credits should be repaid according to the terms of their contract, period. They knew the risk.