Greece hasn't borrowed as such. They have been entrusted to be a host of The Euro. This has obligations. Propping up your branch of the currency is such an obligation. Greece asked to join and were told the price.

Yes, they possibly shouldn't be in it. But to say no at the outset is no better than to blame them now.

The Greeks McGraw refers to aren't the plate smashing, ouzo gulping, eggplant quaffing people but the Greek government, bankers and financiers. If the ordinary Greeks as he puts it, paid their taxes even half way as good as the next worst country, (Portugal) the interest would be feasibly payable.

If anyone takes courage from the Greek stance, they'd have to first understand what the Greeks are standing up to. Other countries in The EU with austerity measures in place would renage too under such claptrap and we all suffer.

Got a pension? Think this doesn't affect you because you are in The UK, Ireland, even The USA? Greece's problem won't cause a recession in your country, but the principle of wiping off debt would.