A default is a horrible outcome, but "that which can't be paid back won't". It's been pretty clear for a while now that the debt load for the Greek economy is

A default is a horrible outcome, but "that which can't be paid back won't". It's been pretty clear for a while now that the debt load for the Greek economy is too great and some sort of bankruptcy(default) is required. The ECB and others have conspired to hide this with the collusion of previous Greek leaders, by heaping on more onerous debt and calling it a bailout. It will have to end at some point. What's occurred up until now is fraud with the intent that someone further down the road will have to deal with ensuing mess. But it's likely the game of kick the can will continue.