Funny how Greece should be one of the first countries to show the failure of democracy.
So many people are dependent on the government for paying money out to them, or failing to tax them. So all those dependent on state money voted for keeping their income as it is, rather than going for a sensible solution.
Like I heard the young people in Greece say, nobody of the parent generation ever asked what they could do for Greece, they just bought more Porsche Cayenne cars for the money they received from the state, or cheated from the state.
Now they will be booted out of the Euro, to show an example (Italy and Spain had the downsize public sector, why not Greece ?). We will get Drachmer at an exchange rate of 1:1, and all bonds will be converted. Then devaluating the currency to 25% of original value to minimize debt. And at the same time, everybody in Greece will get the same number of money, but at a quarter puchasing power. So even worse than the EU / IMF suggestions. People get what they ask for.
Denmark was close to bankruptcy around 1980. Then we got a right wing government, who made lots of hard economic reforms (one called the potato diet, making loans more expensive, and resulted in cutting the trade deficit from 36 to 20 billions within one year), they stopped the insane 10% yearly salary increase, and cut it down to like 2-4% (which resulted in inflation getting lower than salary increase, thus increasing purchase power). Now all parties in parliament agrees (government and opposition), that the the yearly finance law must be in balance, or very close.