we owe it to greece, page-13

Have to agree with Moondog. Decouple from the Euro; float the Drachma - bring in the tourists, export at cheap prices via deflated currency what the country is good at producing; raise interest rates.

Seems similar to Keatings recession we had to have. Fortunately Australia was in the position where we couldn't depend on someone else to bail us out, took the medicine and now have one of the strongest economies in the world (even accepting the impact of China, in the 1990s we were benefiting from the measures of the late 80s before the China boom)