When you lend money, you are taking a risk, and that is reflected in the existance of interest. If you lend money to someone who is skint, and they default, more fool you.

No matter how tight the pressure, Greece isn't in a position to pay debts, and will not be able until it is a functioning economy, and that means writing off the debt, permanently or for a kong time.

This hasn't happened because ordinary Greeks have been borrowing foolishly and spending the cash. It's the fault of bent financiers, the way the crash in 2008 was.

It's very impressive the way Greeks have stood up against the threats and pressure thrown at them in the past few days, and voted to hold firm. I hope other people across Europe will take courage from the Greek example.