A Greek or other European financial basket case bankruptcy would probably be the best solution for their populations, and the United States.
It would actually be the best medicine for the world, despite the usual gloom and doom portents. The pain would be severe but short lived. Not much more than what is still festering after repeated rescue efforts.
The result would have been a good lesson that Greece, Europe and the U. S. desperately need; that you cannot avoid living forever on air or the productive energy of taxpayers. Debtors would learn to tighten their belts today, not tomorrow.
Bailouts always fail except for politicians in office who keep kicking the solution-can down that road.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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