The options re greece in a nutshell

Two options for Greece:
1) Default and become a basket case country with th drachma which risks stability in teh Eastern Med
2) Sovereign debt restructuring over a longer time period to be done by all governments at teh UN / IMF to prevent some economic whiz kid doing a one off Nick Leeson / George Soros and collapse the stock exchange

3) breaking the euro in two as part of said UN talks so that the Med countries with seasonal tourist economies have one common currency and those countries that work all year round have another (rather crudely put for which I humbly apologise but frankly I think It needs putting like that)