Jim, there is no such alternative as you describe - the whole referendum is simplistic propaganda with a "red herring". The government already has a democratic mandate to default on its debts, of which it makes use.
"Moneylenders" include rich and poor, Greek and foreigners. They now prefer to keep their remaining money as cash under their mattresses.
"Austerity" is not the correct word either; "reform" would be better, or indeed "revolution". If the gvt. has such a recipe, they keep it secret, and their propaganda suggests the opposite. To be fair, there have been some steps in the right direction recently, but much too few and too slow. Herculean efforts are required by all people involved, Greek and others, immediately.