I’ve made this point before, but it might bear repeating in light of the referendum in Greece.
One might think Germany, whose entire last century was shaped by debt it owed in a currency it did not control, would recognize the potential harm in insisting that creditors must not take a haircut.
It is also disturbing that, given the chance of bringing actual anti-Semitic fascists to power in Greece if the Socialist-led government were to collapse, Europe and the troika (BAND NAME!) was unwilling to take a financial hit to prevent that from happening.
Not enabling societal unrest and fascism seems like a pretty good baseline economic metric.