Quote Originally Posted by Sarmatian View Post
Because the Greek debt isn't in drachmas, it's in euros. They have to pay it back in euros. They can't print drachmas to pay it.

Their import is bigger than their export, tourism included, which means constant inflation. Equilibrium will be reached when they stop importing more than they export, which means lower living standards in the end.

They've been living above their means for a looong time. Tightening the belt is what awaits them, euro or drachma.
The you just have to draw a line under a bad investment in Greek private or public debt.

If you try to force Greec to attempt to pay these debts back you end up endangering the whole dam thing.