So, apparently EU finance ministers are encouraging Greece to speed up privatization. Which is to say, let themselves be looted faster, and transfer public goods into private hands at firesale prices. Meanwhile, the Greeks themselves continue to riot in all the wrong places. Folks, if you’re going to riot, go riot where the politicians and bankers are. March on their mansions, and have your fights with the cops there. As long as it’s you fighting the cops someplace else, they don’t care. Your master class, who refuse to pay their taxes or to tax each other, will not get serious about anything else other than paying themselves and their foreign friends by looting your country until something more important than money is on the line.
In governmental terms, yes, Greece should restructure. Roll it all over into 100 year bonds at 1%, and refloat your own currency. If investors don’t like that, tell them they can have that or nothing. Slap on capital controls and let everyone know that you will hunt to the ends of the earth any of your rich who try and take capital out of the country. Start actually taxing the rich. If they can’t take it, they can leave, without their capital.