I cannot see how Greeks will change just because they have a different sort of money.
Their culture has been built over hundreds of years, they have been deceptive for centuries (trojan horse, hiding debt and so on - there is even a saying about it 'beware Greeks bearing gifts'). The do NOT like paying tax - it is part of their culture. I think they are wonderful people - but with strong culture - it ain't going to change in just a few years.
Cultural change of that dimension takes generations -- so imo the outcome will be
default - ie. NO change, life will go on as normal.
As for the Euro - well, if contagion spreads (and of course if it spreads then it has to be contagion) - then Europe will head back to individual currencies -------- no big deal, just a blip in history.
The only people who look foolish imo is the rest of Europe who allowed Greeks into the fold --------- don't they read history? Don't they look closely?
Have a great day - and notice that the financial world didn't end last night - we breathe again.
