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[–] pilgrimboy14 ago 

That's the way bankruptcy works. The current situation seems to be that the powers that be don't want to loan them money in a way that doesn't cripple them. So Greece has to choose being crippled or being crippled with overlords.

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[–] Shammyhealz ago 

The problem is that they're going to need money still. They haven't made the policy changes necessary to be fiscally solvent, and once they declare bankruptcy no one will loan them the money to tide them over until they make such policy changes. My takeaway from the articles is that the changes the creditors are asking for are going to be essentially necessary anyways.