Default? Like the Argentinians did a decade ago? And becomes shunned by foreign lenders for many, many years, just like Argentina? And, its economy flounders for many, many years, just like Argentina's?
I suspect cooler heads in the Greek government understands that being a deadbeat will not solve the country's problems. It'll seize upon this crisis = opportunity to ram through structural reforms and put an end to 150+ years of fiscal irresponsibility.