Instead of the Greeks lying to the German taxpayer who is paying for their retirement, the Germans will have to do so. They'll be recognizable because they'll be the same lies the Greeks would have had to tell. "Real Reform", "real accountability", blah, blah, blah, followed up by a great big ... nothing. It either that, or watch the failed dreams of the unelected European Bureaucrats go up in smoke. Somehow, the EU needs to add 2 units of German productivity, to 1 unit of Greek productivity, and find a way to pay for 4 Greek public sector retirements.
Well, that's overstating it. In truth, they just have to convince the German public that 2+1 can equal 4, they don't have to actually achieve it. And in an age when Bruce Jenner is a woman, two men can be "married", and you can choose (and change) your race at will, a little bad math seems like a very small lie indeed.