OK, so we all know what the Greek debt crisis is really about: Greece borrowed more money than they can pay back. So far so simple.
We also know what is the necessary solution: a default on the debts. This could be “soft”, say extentions of maturities or an agreed lowering of coupons. It could also be hard: Greece just declares that it can’t and won’t pay and challenges creditors to come get their money if they’re hard enough.…See More