Every economist comes up with their own personal idea of the "problem" with Greece and the Greek people and all of their answers usually are around some capitalist economic formula that is hinged to the "people" paying more to put things "right" by taking a greater hit to their already impoverished living standard, or by the state borrowing more and creating "growth". The former solution will be an even greater disaster for the Greek people, the latter, beneficial for the corporate world, but more of the same for the Greek people. All capitalist "adjustments" require deprivation, malnutrition, homelessness and mass unemployment to be heaped on the ordinary people. The Greek people's solution, like all those ordinary people across the globe who are at present suffering "austerity", does not lie in any form of capitalist economics, capitalist economic solutions are the problem, the only answer for the ordinary people, lies outside capitalism.
An interesting article by Nikos Libero, on the Greek situation taken from The Commune:
Greece is living through its biggest crisis since the downfall of the military junta in the summer of 1974 – a consequence of the world economic crisis and the historical decadence of the Greek bourgeois elite. The same internal tendencies – with more or less the same characteristics as in the USA in 2008, at the beginning of the world economic crisis – are manifested in Greece today in an explosive form.All the social conquests of the working class since 1974 have been lost in the last three years. Since the end of the second world war, there has never been, in a period of peace, such a dramatic decline in the standard of living of the majority of the population of any country in Europe, or such a violent redistribution of wealth in such a limited time.The crisis has given rise to an assault not only on the working class, but also on the middle class, which is being destroyed today. And here it should be noted that in 2009 the petty bourgeoisie is two or three times larger, as part of a proportion of the total population, than in the so-called developed capitalist countries.In November 2012, unemployment reached 30% – and 80% of the unemployed received no benefits. Since 2009, the real income of ordinary people has been reduced by 40%. And the downfall will continue in the next year.The minimum daily wage for people below the age of 25 is 22 euros, and for those above 25, 26 euros. Three million people, in a population of less than 11 million, are living below the poverty line. There are 40,000 homeless. The suicide rate is rising dramatically especially among the destroyed middle class. In tens of thousands of homes, the electricity has been cut off. Crime is rife.