Why not treat Greece like a Company or an Individual?
Send in the Administrators and the Baliffs. Greece still has lots of assets, sell them off, starting with the museums, some of the islands.
Fire the entire civil service and make them reapply for their jobs, supervised by some people who know how to run a government - maybe the Swiss and Austrians?
Or simply let Germany foreclose on the entire country and no more debt! And all the people are then the responsibility of the German govt to house and feed.