It's just the beginning of the end of our current money system. Whether they loan Greece even more money to pay back what they're owed (which is absurd) or accept that Greece is never paying back, the result remains the same: more money will be printed, and the more depreciated the value of money will be. It's a neverending cycle until the debt becomes too big that you can no longer create enough money to cover without triggering massive inflation reducing its value to practically zero.