As the spectre of default and more financial straits loom for Greece, Germany has undertaken some demanding roles (EN/DE), though commensurate with their overall economic influence, to rescue Greece and the European common currency.
Of course, it is the Greeks who too have a vested interest in getting their portfolio in order and ensuring future livelihoods, and this begs the question whether they really want to be yoked with the liabilities (zeugma = yoke) of being a dues-paying member of the European Union. Argentina defaulted a decade ago and recovered quickly and now thrive: Argentina uncoupled their currency from the US dollar but maybe that is not quite the same as a country quitting the euro. Greek bureaucracy was probably no more bloated or corrupt than anyone else's, but they did a poor job of collecting taxes. It does not seem things ought to be this gloomy, making hoi polloi take to the streets in protest--although what deal the government accepts should be closely watched and the people make sure it is in their favour. Germany is also relying on the kindness of angel investors (Privatglรคubiger, private believers) to buy and hold Greek bonds on a voluntary basis, knowing the risk but potentially realizing big profits once stability has returned. Individual pensioners can apparently also take a gamble with their retirement funds, if they choose.
