Chris

It is a very long-term problem in Greece, and a problem which the Euro and its accompanying low interest rates did nothing to discourage. Quite the opposite, in fact.

It's hard medicine but default, reinstatement of the Drachma and then rebuilding the Greek economy from the ground up is the only real solution. Greece is an important tourist destination and holidays denominated in Drachmas would be highly desirable. I'd certainly be tempted.