Why did the Fed bail out the ECB and Deutsche Bank and other Euro banks when they were in over their heads in the 2008 crash? The Fed opened up unlimited swap lines with those banks and others in Europe. Why? Why not let Germany collapse because of a liquidity crisis?
Why didn't the US let Germany fend for itself after World War II, instead of creating the Marshall Plan (at a time of high inflation in the US)? Why did the US give away 85% of the Marshall Plan funds, instead of requiring repayment?
Why is there no production capacity shortage to keep Greek pensioners at a decent standard of living? The only scarcity is an imposition of liquidity. There is no physical scarcity preventing Greeks from living full, happy lives. There is an artificial scarcity of money.
The ECB should create more money and give it to Greece, as the US gave money to Europe after World War II with the Marshall Plan.
Failing that, the world's most powerful financial institution, the Fed, should open up an unlimited swap line with Greece, buying as many drachmas as the Greeks want to sell.
It is stupid that economics requires people to suffer when there is no physical scarcity.