Not wanting to make an obvious point here, but THIS IS NOT ABOUT THE ECONOMIC HEALTH OF GREECE.

This is basically economic rape. It's the equivalent of hiring some pointy-haired hatchet man to come in and "rationalise" a company by firing everyone and moving whatever productive capacity is left to slave factories in the Marshall Islands.

For every drop in "costs", the short-term share price/bond yield increases. And that counts as a win.

When there's no longer any company left to rationalise, the process starts again somewhere else.

Only now it's happening to nation states rather than corporations.

And the solution is the same as the solution to M&A rape - worker occupation, and marching orders for the pirates.