This is really important. About a decade ago, countries like Greece had a fiscal crisis and were bailed out by Germany. When Greece has another fiscal crisis, Germany won't be able to bail them out again. Germany will be too busy with their own hyperinflation. Greece will have to default on it's sovereign debts (and wipe out Greek retirees) or begin their own hyperinflation (and wipe out all Greeks).

I should say, there is another option: nationalization of entire economic sectors. But I haven't heard talk of that outside of China, so I don't know if EU or US poiliticians have even considered that yet.