The methods of Austerity are crap.
The way to bailout banks with enormous amounts of money is crap.
Yet, for our politicians (hello, mrs chancellor!!) there is no other option available. Or so they say.
Really, this only leads to these things:
* Mayor parts of greek public holdings like ports or islands will be sold to foreigner.
* The gap between the countries with positive foreign commerce (selling more goods to foreigners than buying back) will widen.
* The people in affected states will grow desperate more and more.
My idea of the plan in the background is the following: Slavery. Not using that word. Using the governments of the affected states to sell
anything useful or precious, like real estate or people's workforce for the cheapest possible price and cheaper. Using banks and their credit-system
to keep anyone in those states under pressure.
What might cause a problem: the widening gap in foreign commerce. This inbalance might cause even countries with some remaining power to fail by
becoming unable to get the money for their goods, therefore their industries going down the river, too.
Anyone who has enough money to diversify that money all over the globe, evading any noticable crash of some or the other country.