Germany had fought two wars and destroyed Europe. It did more damage to the world than Greece is doing - or has the potential to do - here and now. Bad loans and fiscal irresponsibility was very definitely a key factor in how Germany managed to get into that position - yet Germany was granted clemency and 50%+ of its debt was relieved. Its economy rebounded and it is now a major European power.
Why is this not good enough for the Greek people, who have not destroyed Europe in two major wars, have not enacted a hateful ideology across the lands? Certainly, there should be some 'punishment' for Greek fiscal dishonesty - certainly, there should be 'repercussions' for screwing around with the worlds' economy - but why do the punishments and repercussions not match the deed, relative to that granted the prosecutors of action (Germany) in this case?
The answer is: this is economic warfare. Germany is at it again, albeit this time with bad loans and unfair negotiation instead of blitzkrieg and racial cleansing. Much attention should be being paid to the un-yielding position of a country which should know better than to deny economic relief to a large citizenry who need it badly. This is, after all, the basis of Germanys' own "miraculous" recovery after it nearly destroyed the world.
Debt relief is the only answer, and in a just world - not one dominated and ruled by unelected authorities with illegal powers - this is what would be happening for the Greek people, and indeed all of Europe. But because people don't realize that Europe is ruled by an autocratic, fascist, unelected oligarchy, the correct action: letting the banks fail, and fail utterly - is not being done.