Meet the crisis

For at citere Heavy; we still got problem:

[Præsident for eurogruppen] Mr Juncker explained that the restructuring would involve a delay in repayments and a cut in interest payments, to be agreed with the country's lenders.

However, he said it would need to be done in a way that would not be deemed a default by the international rating agencies, which would cause an "enormous problem" for Europe's banks, who would then have to recognise billions of losses on their balance sheets.

"In the case of a national bankruptcy with a subsequent debt restructuring, we would be letting a genie out of the bottle without knowing in which direction it would be flying," he warned.

Mr Juncker also confirmed that any restructuring - and any additional rescue loans - would only be forthcoming if Greece stepped up privatisations and painful austerity measures.

Grækenland, som al sund matematik siger ikke kan betale sine lån tilbage med renter, må altså ikke på nogen måde 'omstrukturere' sine lån, så det tæller som bankerot, fordi det ville bankerne ikke kunne tåle. Samtidig skal de skære ned og privatisere sig ud af gælden. Ratingfirmaerne, som stadig bestemmer, mener dog, at  udskydelse af afdrag vil gå ud over Grækenlands vurdering, for når kreditorer ikke får det, der er aftalt, så går gældens værdi naturligvis ned. Ikke at den er meget værd længere.

Læs interviewet med Juncker i Spiegel. Det er sjældent næsvist over for en politiker, som indrømmer at lyve for at bevare.