This is a brief follow up on my last post. There seems to be a growing attitude that debtors are entitled to forgiveness. It shows up in Greece, but it also shows up with student loans, house loans, and personal loans. If you borrow money, you must pay it back, it's as simple as that. If it was a bad decision, then you have to live with the consequences like any other bad decision.
The creditor can still forgive or restructure the debt and often should for various reasons, but that is their choice. Debtors should not feel entitled to forgiveness or else slowly but surely lenders will stop lending.
That would be a tragedy, as leverage is extremely powerful and can create great good when used correctly.