They can do like Obama and simply print more money.
Except that nobody would take that printed Greek money. It would become about as worthless as Zimbabwe currency...if that’s possible.
“They can do like Obama and simply print more money.”
As many have noted today, Tsipras now leads the Greek Central bank. They are authorized to print Euros.
If he decides to fire up the presses and print Euros as some kind of a stimulus, it could really crash the Euro. A real “Nuclear Option”.
And Greece doesn’t actually have to start making any payments on it’s latest zero-interest debt until 2022.
IIRC, the Drachma no longer exists. That means they leave the Euro. Who will then take payment in Drachmas?