I think all the noise being made on this topic misses the point. Leaving aside the question of whether the Greeks cooked the books to ensure they were admitted, once they were in they were on the same treadmill as all the other constituent nations. The root cause is trying to fit the variously efficient economies of Europe into a one size fits all exchange rate. The Euro is overvalued for the Greek economy and undervalued for the German one. Without full political union to accompany the monetary one, there is only the slightest chance that it can end other than in tears. If Greece, or any other country wants to be part of the Euro on a sustainable basis then they must either forego their sovereign independence and become part of a political settlement that determines everything is controlled from the centre so that you have common taxation and other regulations across the community, or they must ensure that their economy adjusts to the average for the EU. If they don't want to become like the average Eurozone economy then they have to consider leaving the Euro to enable them to set their own interest rates with their own currency. It's their choice, but there is no reason why the other Eurozone countries should be accommodating a country that wants the free lunch of no reform and unlimited funding. Given the likelihood that the Greek debt will never be repaid and there is no appetite for reform, it would be an abrogation of responsibility for people to lend further amounts to a government that is taking you for a ride with no intention of future loans being repaid either. When in a hole, it is best to stop digging. Creditor nations also have responsibilities to their own taxpayers which is something that spendthrifts are anxious to forget. Living beyond your means is a problem that's closer to home than Greece, but at the moment we are able to keep the balls in the air because we have control of our own currency. However, people are advised not to be too complacent.