Two years ago, Greece partially defaulted on its government debt. The default was "sold" to the public as a successful rescue operation. However, what's in a name? That which we call a default by any other name would smell as foul.
Has Greece really been saved, though? Not really. Even if the face value of the government debt has decreased, the relative value (as share of the GDP) is higher than ever.
Greece would have done much better if it actually defaulted, without the emergency loan by the EU and the World Bank. However, the Greek government has sheepishly followed the EU recipes—to the detriment of the Greek economy a the Greek nation.
A white male with some professional experience in finance and investing.