Only in the mutual virtues of charity and austerity, can solutions to the Greek debt crisis be found... Talk about SG run out of cash: why? Great depression situation? ISIS targeted vital services: MBS, Changi airport? Racial riots?:: by then, NationalService= decimated already, so like in Iraq case where ISIS just robbed fleeing Iraqi soldiers of USA made weapons such as black hawk helicopters and artillery, a fallen state has nothing to be assertive about. A bankrupt Greece (as part of Euro currency system) is of course a very big headache for creditors let alone Eurozone. Japan debt is so called stable because the Japanese is a nationalistic country and Japanese support their own gahmen if not the Shinto emperor (even to death)... Unfortunately, as your previous post alluded to, Greece will have difficulty rolling over short term debt because Greek banks, faced with local runs by Greek citizens on banks, will be precluded from bidding for such T-bonds etc given their lack of funds: thus placing the Greek central bank again at risk of bankruptcy if it is unable to roll over even its short term debt. Debt (especially foreign) is a bad servent : he flees during crisis leaving the master high and dry (as U alluded to in your case examples of 1997 and 2008 ) : thus, per Japanese example, the only stable source of debt is local sourced which obviously contradicts your evidence of Greek citizens withdrawing their cash from banks= a NEGATIVE source of funds for the Greek financial system: thus leaving moral leadership the ONLY way left forwards. Pray tell, besides a nonexistent Greek army or degeneration into ISIS like groups germinating on Greek soil, please accede to my suggestion that morality at the heart of all leadership activity is the only viable way forward now that the Greek gahmen is bankrupt in all but name. Maybe if Greeks accepted the virtues of austerity and their creditors the virtue of charity, then a mutually peacable way forward can effectively be found.
