DislikedYou can then buy back the country's assets at a rock bottom price. Just google Greece and see what they are doing. Selling off islands, transport networks, postal services & telecoms at rock bottom prices. Once you have these assets you have a country by it's balls.Ignored
But don't forget, nobody forced the government to borrow so much. If Joe Greek wants to live like the germans but being much less productive, retiring younger and always forgetting paying taxes, well, after 10 years his way of living becomes unsustainable and something must be done.
Argentina also defaulted but I didn't hear that they sold something and nobody invaded them. They don't have acces to credit markets anymore but this had to be expected.