No interest? Haha.
Greece can't repay its debt even if it wanted. It's impossible. It will have to have GDP growth of China or more for next years if not tens of years. It's not the only country.
Marshall plan or something is needed for Europe. There is no way that some countries will be able to repays its debts. Small countries like our can be saved with relatively small amount of money.... Probably we have GDP of NY or less.
If Spain or Italy sinks then you will see problems. France is not doing much better either, but Spain is probably the biggest issue currently. Youth unemployment in huuuuge. Unemployed youth without future can become really dangerous. You only need a tiny spark and things will explode.
Read some reports about Greece. You don't need war(s) for devastating countries. Devastation caused by austerity programs can be much worse. Latin America needed a lot of time to swim out of shark bay. Russians knew why it's wise to get off IMF and such predators.
Many economist were saying USA would bankrupt several years ago. While China is lending money to USA and USA is buying China products (they both live in sort of symbiosis) this will continue for some time.
There aren't only governments. "Western" people have habit of living lives in (huge) debts. You want house, you will take credit. Car? Credit. Credit cards, etc. Everything is just a circle of debt and stockpiling things.
