Man, if you had to do a text book case of how to mishandle a complex and escalating situation, you could not do a more mangled and screwed up job than the vast numbers of people who all seem to have conflicting roles in the demise or whatever happens next to the Euro.
Greece will default, it's a question of how long, and how much. When it does the big banks go down. Dexia is looking wobbly already, SocGen and BNPP have also been the subject of intense speculation, and at least some German lenders would be very exposed. Short question is who gets screwed? The PIIGS by being forced into austerity and deflation, or the bank countries, notably Germany and France?
None of it bodes well for the overall popularity of the Euro experiment.