In 1974 the Western nation Governments surrendered their ability to print currency to the IMF and a cabal of International private bankers. What would happen is from this time forwards various Governments would issue bonds instead and "investors" would buy up those bonds in return for money. This money did not really exist. It was created out of thin air out of nothing and premised on nothing.
When Greece "borrowed that money" all that really happened was the banks in control of the financial system just created a computer entry. This was to be paid back at interest to the same.
The banking system creates it out of nothing. therefore nothing is lost if these loans never repaid because the money was created of nothing. It can be created again and again.
How do various countries repay those loans and the interest on them?
They repay them by what is REAL. They repay them via taxes on their workers. They repay them by surrendering their real wealth, their land and minerals and infrastructure to those small few that control the Banking system, All of us in essence work to make those bankers richer. Those bankers do nothing in return but create currency out of nothing. They are leeches and parasites of the highest order.
Now there is absolutely nothing wrong with the concept of taxes. WE all pay them so all of our fellow citezens can benefit along with ourselves. We need taxes for schools and health care and for Old age security and medical research and infrastructure. All of the things that make things better.
With the current banking system instead of the fruits of the labor going to benefit the many , they go to the bankers to make the few even richer. It is simply a high tech version of slavery and nothing more, From Ancient Rome to the Ottoman Empire, from the Empires of France and Britain and that of the United States of America, the great wealth of the few has been built on a foundation of slavery and exploitation of the masses and on theft and on Genocide. This is the same process given the veneer of respectability.
The simple FACT is this. From a mathematical perspective all of those debts owed by Governments the world over can never be repaid. Those that lent the money KNOW this.
The real concern of those with power in Germany is not that the money not repaid. It is the Greeks might well escape the yoke of slavery by refusing to repay it. They will do everything in their power to ensure Greece can not succeed.