If Greece exits the eurozone, what actually happens to the existing debt? And will their currency actually have a lot of value? Just seems like a huge mess and I'm thankful I'm nowhere involved with it. I can't imagine what it's like for everyone involved.
Greece will very likely (at least to a significant part) default on the existing debt regardless if the country leaves the Eurozone or not. The debt burden is simply to big to be manageable any more.
If Greece exits and introduces its own currency, it will quickly devalue against the Euro and adjust to the real economic capability of the country which is very limited. I would not be surprised at all to see a devaluation of the new Drachma to 1/5 to 1/10 of one Euro.
ya.ya.yo!
I think they will remain in the Euro as long as they don't have a better alternative plan. Leaving the Euro without a clear route of action can be a total disaster and ruin the lives of tons of Greek citizens. Im sure Syriza is already secretly working on a plan B tho.