sure don't acknowledge or repay the debts but you can't use the euro anymore. back to the drachma and let's see what happens.
the european union system of everyone using the common currency doesn't work. the greeks have a retirement age of what 52, germany is close to 65 i think. so greeks would have to put much much more into their gov't funded pensions and they just won't do it.
Thank you for your comment . Did you read the part about the secret back room deals , made by banks for income long into the future for resources , that were made without any input from the Greek people ?