Greece will be bailed out Bojo! Phony balony funny money created out of thin air will come to the rescue, but of course with a tacked on hefty interest rate (phony balony funny money don't come cheap).
From comment section of Timesonline article:
"What is money? Where does it come from? Well under the fiat currency system. The central banks create money out of debt or borrowed funds. This money was lent to them by another institute that just printed some fake numbers on paper/digitally for the exchange of bonds or promisary notes. Both are essentially promisary notes however, so really the bonds are fiat currency and the currency exchanged is fiat currency. Debt on debt.
This loan also has interest put on it, plus the effects of inflation due to the time taken to pay the loan back. Since all money is now printed out of nothing/fiat currency... it is all debt so you pay off your loan of debt with someone else's debt. Therefore you create and inflate a giant debt/credit bubble that the world plays hot potatoe with.
Greece was holding the bubble last because their government was not allowed to twist the wealth out of its people. We started with a system that could sustain us but we let the banks take everything. This forces a government to continuously tax and burden its people to pay for this debt system that inevitably fails every single time."
Only a matter of time before our humble political servants tax us to the breaking point. No wonder Greeks are hiding their money from the approaching vultures.