@zach -  Greece has problems quite different to Iceland, deep structural problems as serious as the problems faced by Russia at the end of communism.  Iceland had its worst problems retreat because of the collapse of over ambitious bankers.   Greece is not enjoying the retreat of ambitious bankers as a result of structural adjustment, in fact Greece is being ADVANCED upon progressively by bankers!    So Iceland is NO COMPARISON at all for the Greek people.    Greece is an example of a country that needs change as serious as the end of communism, because of an overwrought CAPITALIST progressive tax rate system.  Russia has already learnt many lessons of a change to a flat tax rate and is the perfect partner for Greek transformation.   Whether or not that means leaving the Euro, will probably affect Greek military posture.Without a pure Greek solution there is no analysis of Greeces' situation.Emigration to Australia will get unemployed Greek families working and encourage Greek population growth by supporting domestic and international Greek descent economics.

3rdbasegeorge your idea is wrong unemployment is bad everywhere not just with the greeks and the small amount of labour projects that there is in austrialia will be dispersed to all econamys. Greeks need to leave the Earo should have done it a long time ago its funny that no one is conserned with what the people there want I'd like to see a referendum on the issue there but instead we have a banker put in charge. all these bailouts do is pay interst on bad loans that are probly half fraud they should do as iceland did

Or even more dour, Greek recasts its debt repayment schedule, with a Flat Tax Rate without exiting the Euro Union.
I can hardly fathom the blase attitude of Western Psychophants to the Flat Tax Rate.....Neither toward the potential of Australia, nor to the success of Greek communities in Australia.  Greek Paniyiri festival is one of the biggest events every single year in this country.Greeks are a ready made boon for the Australian and Greek nations.   Australia is a commonwealth country and a Greek, Prince Philip, is married to Australia's head of state!!!!!  

@Dan -  It may be a drop in the bucket, but thousands of Greeks came to Australia in the 50's working on public works such as the snowy river hydroelectric project.   If Australia doesn't get more out of its land size, the mining boom, when it ends, will peter out to a low manufacturing debt riddled over expectant basket case like Greece.  So for two birds with one stone, Australia raises public works that support population growth and takes Greek migrants to boost labour market and domestic consumption base....History shows Australia that large mogrant intake with catalytic public works,  Works.On top of that Greece either exits the Euro, or converts to a flat tax rate or even more tempering for out of control Euro banks, Both.....So maybe you won't need detention camps for out of control populations of unemployed Greeks with a Russo-Australian solution.

3rdbasegeorge:
Ho w would you propose that Greece lower its population?  By assassinating every third person in the country?  Forced st erilization?  Abortion?  Expulsion?  The Malthusian solution does not work, sir.
It is the lowering of the birth rate which has been one of the factors leading to decline of the nations in question.  Surely you must be aware of this, my friend.

3rdbasegeorge:
Ho w would you propose that Greece lower its population?  By assassinating every third person in the country?  Forced st erilization?  Abortion?  Expulsion?  The Malthusian solution does not work, sir.
It is the lowering of the birth rate which has been one of the factors leading to decline of the nations in question.  Surely you must be aware of this, my friend.

Isn't Angela Markel rumored to be the daughter of Adolf Hitler? 
...Looks like it.

The bailouts were to postpone the effects of a Greek default within Eurozone. With near 50% of Greeks opting for default as the best solution, the EU was worried about its early timing and the effects on Eurozone. Thus, the statement of  “it would be irresponsible to abandon the country to bankruptcy at this point’’ has some obscure truth in it, namely, irresponsible to EU. There is another side to the timing process that the proponents of world government (WG) are trying to harness. So far no one has been able to determine the right time for a massive default that can lead to a partial WG. The candidates for a massive simultaneous default include the US and the reluctant Japan. But, it’s unlikely that it can be harnessed as it has been envisioned.

If Greece doesn't reduce its population and install a flat tax rate it is doomed.  Both concepts are being actively depressed in public debate as though a thick pall of suffocation had descended upon the entire western world.   Australia and Russia should step up to the plate, Australia with public works of irrigation to existing and new arable land and Russia with the journal of its flat tax rate.

This should have been done in the first place, but the will to keep the EU by even expanding the Euro to all the members was the obstacle and finally suffocated the Greek people as a result. The EU cannot possibly function as union without strict an very disciplined common fiscal policy. Certainly not when the UK´s City of London pulls the rag all the time. Perhaps even going back to the ICC will be best - simply a common free market. The complication for the EU is the desire for a Federal government and politically and economically control all the rest. Europe is not USA, and can never be, with those diverse old cultures.