Return of the Drachma means the end of the Euro Zone grand single currency, consolidated socialist experiment. They all know that no one would buy any euro denominated sovereign debt and EU is not ready to give up yet.
Look for EU and Greece, in the end, to compromise.
Look for EuroBonds, probably in 2013.
yitbos
Germany public debt is 94% of GDP
Portugal public debt is 103% of GDP
Ireland public debt is 157% of GDP
Italy public debt is 118% of GDP
Ireland public debt is 157% of GDP
Greece public debt is 177% of GDP