While I write the the Greek government is expected to pass its austerity measures.
According to The Times over the weekend time and money has already run out. This paper has a paywall but you can sneak a look beyond it via this article in the Speccie.
http://www.spectator.co.uk/business-and-investments/blog/7052178/the-turn-of-the-screw.thtml
Greek hospitals cannot buy supplies of drugs because they have not paid their bills. At least two companies are refusing to sell them more drugs and others may follow. The situation really is that bad.
Do not imagine that the crisis will pass if the Greeks pass the austerity measures. The bail-out is just a sticking plaster and we cannot have confidence that the Greek government will actually deliver on the cuts needed. You need only to listen to the protestors in Athens being interviewed to see how unrealistic they are about their situation. The seem even more deluded than the deficit deniers in this country.
I really do not see a resolution to this crisis without Greece exiting the Eurozone - that have to allow their currency to take some of the strain and get their economy back into some kind of shape.
Think of all those nice cheap holidays there if they do exit.....please let it happen in the summer!!!!!!!!!!!!!!!!!!!!!!!!
I am off to Greece in September myself for a week so I just have to hope I stay healthy as well!