Greece's economy teeters on the brink of default
"Most intelligent people know there has to be a significant restructuring to ease the burden on Greece, and we're not talking about a painless extension of maturities, but wiping away a large portion of the debt," said Charles Grant, director of the Centre for European Reform in London. "My worry is that the longer they leave it, the stronger the euro-scepticism becomes. When they finally do decide to restructure the debt it will be too late."