The Greek government can never repay its current debt obligations, primarily held now by public sector international creditors that bailed out their own reckless and very poorly capitalized private banks to keep them on life support. (It takes two parties to accumulate debt: creditor and debtor. Greece's creditors shared at least as much blame as Greece's prior governments.) That's just a simple mathematical fact. The only remaining salient question in this tragedy is whether the European Central Bank (ECB), and specifically one very democratically unelected banker (Mario Draghi), will take affirmative action to destroy Greece's banking system solely because some other party (the Greek government) cannot and will not, in fact, repay its (euro-denominated) debts. As an approximate analogy it'd be as if the U.S. Federal Reserve decided to destroy Citibank, J.P. Morgan Chase, and BNY Mellon by terminating their loan facilities from the lender of last resort, even via nationalization, if the State of New York, where those banks are based, were to default on its bonds. Yes, that's *crazy*, that the Federal Reserve would act in such a way, yet here we are with the ECB.