Let's see if I see the big picture.

Greece owes something in the region of $350 billion.

The people of Greece elected a government that wants the austerity to stop. In other words, they want the payments of the debt to either be re-negotiated, so that their taxes can be reduced, or to eliminate all or part of the debt so that the same result occurs.

Failure to meet these demands, means the new government will lose the support of the people. After all, that was the platform that they ran on and that got them elected.

If the EU relents on the Greek debt, other countries are waiting in the wings wanting similar treatment, notably Italy, Spain, Portugal, Ireland and the big one, France.

If the EU does not relent, Greece will be forced to either default and get thrown out of the EU, or they could get outside help, under better terms.

Who could possibly help?

The Russians? The Chinese? The Saudis? Each one of these countires would demand something that the EU could not tolerate, imo.

But what about the bankrupt U.S?

A possibility?

Stranger things have happened, no?

"We live in interesting times"

Good Luck to all!