[Torplexed]

It's becoming painfully clear that the only option for Greece is indeed default, and even the elite, the "wizards of smart", are realizing that. Debt slavery is not to going to work, and Greece will probably be destroyed in some violent revolution if they keep it up (which will be an even worse default, of course). But if they do default, then that will trigger a cascade of other panics and failures. So, they're busy trying to figure out something (including selling your first born, law and ethics and everything else be damned) to ringfence it off.