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Greece will unveil their new currency, drachma most likely, and say it worth the same as an EUR, 1:1. Than they will index all their debts in drachma. All of that while the market is closed.

Once the market opens, FOREX will drop drachma like a rock, therefore it will be easier to ''pay'' the debts and it is going to stimulate tourism, which is pretty much greece single industry.

They are going to have 2 or 3 crap years, than start to grow. It will be similar to Argentina, but worst at first. The difference being Argentina problem had a small impact in the region. I don't know how Greece default will affect EU.