Some interesting comments here.
I appreciate those who weighed in here....it's a ***** to marry the politics with the economics on this.
Short term.....Greeks are in for more suckage no matter what. Chickens are coming home to roost.
Greece aside, the Germans are coming to grips with the issues surrounding a central monetary policy undercut by multiple fiscal policies. The plan worked great to export goods (and Germany is a helluva producer) until the southern countries ran out of other people's money.....and now those importers can't devalue their currency to pay for the party......cuz they don't control the currency.
As widely predicted, the Euro is doomed in the long term, unless they all agree to a central government. And given hundreds of years experience and history, that ain't happening.
As to Greece.....they should get out of the EU now and revert to drachma as the currency. It will mean a short term period of suffering, but it will be the straightest path to self reliance and trust from the international finance community.
I hope for their sake, politics don't interrupt the math.........cuz math is a ***** and don't care about a vote.
**edit**
@Posterguy made some awesome observations on this. Not exhaustive, but definitely on point. Well done sir.....am I still "mean?".......whatever, I enjoyed your fine work here.