Greece will only be bankrupt if they don't get bailed out again either by the EU, the IMF or both.

The measures demanded by the IMF & EU (which is necessary for political will & arguably 'right') will cause the economy of Greece to contract.

There has been much squabbling within the EU about how to structure a loan and the whole thing has been a mess given differences within the EU.

The stability of the Euro is certainly much on the minds of the Germans given their experiences with the mark and the loan can be challenged in the German supreme court if it undermines the Euro.

I frankly wouldn't worry about which way the Euro will go. Especially when compared to the problems other wealthy nations will face.