Some predictions:
Ultimately if Greece takes the position that they will not try to pay their debts, their banking system will collapse and they will have difficulties to do commerce with other countries. This leads to isolation, since no one will trust them as counter party for commercial transactions. It will drift into similar position as Argentina whose money is not exhangeable so really the only option for commerce is exchanging goods for goods. Does not work so well in practise.
If isolation continues for long, nationalism will start raising, and hate towards other countries, especially EU, will increase. Human nature, fault is always on someone elses side. If it goes bad enough, new leaders will raise...and Greece is heading towards North Korean model.
It is a sad story, really
