Problem in a nutshell, aj. Nailed it. Their currency is locked. It's only the US's ability to offshore it's debt that has prevented a similar Greece-like situation here. It's just a momentary reprieve though
Totally, Greece could have done something similar to Argentina if it wasn't for their participation in the euro, not having currency independence was always going to present these type of problems and its why now the Germans have to suck it up as if Greece was part of Germany because reality currency wise it is.
