[ConservativeMind]

What assets are you alluding to which could be “cleaned up?” This was an unsecured loan, the payers just decided to walk away and there's no repossessors allowed into the country.

Greece just walked away with hundreds of billions of everyone elses’ money.

[windsorknot]

This really boils down to a case of theft. No remorse; no regrets.

[Gunslingr3]

Greece just walked away with hundreds of billions of everyone elses’ money.

Their problem is they already spent that money, so they're actually walking away penniless with future borrowing prospects cut off (at least from the West, how Russia, China, etc. approach this remains to be seen). Their real trick is going to figuring out how to live within their means going forward. If they thought they were poor last week...

Can the German public, who from what I've read are quite 'bail-out weary', be convinced that the monetary union should be turned into a permanent wealth transfer union in order to preserve the Europhiles dreams of a federal Europe?