[RFEngineer]

“That’s fine, then they will still go bankrupt and they will make those changes involuntarily.”

They can then devalue their currency, such as it is, to stimulate exports and tourism.

It’s much easier to dismantle benefits that way - devaluation and inflation. It’s so much easier, that that is what our politicians will do, when it becomes our time.

[McGavin999]

I agree, the point is the changes will be made one way or the other and the Greeks who think they can keep it from happening have a surprise coming. It's the same with California. Unsustainable expenditures are exactly that....unsustainable.

Ironic that the state that is filled with so many people who are into the word "unsustainable" are the ones who can't recognize the fact that while caring for Mother Earth, they are raping their own future.