I was thinking more of the debt rather than the currency. My point of view wasn't so much the Greeks but the european banks with exposure to Greek government debt. I was thinking along the lines of an ECB fund that assumed responsibility for the debt, froze trading in it and gradually reduced the value somehow.

But as you say, once the Euro is dumped whatever replaces it is going to be very unstable.

All in all, it's a good warning against the evils of excessive government spending and endless deficits.