Poor Richard- Greece can be Saved

Poor Richards Report

Greece can be saved and so can the rest of world.
If we forgive the interest rates and just ask that they repay. Wouldn’t it be more beneficial to regain the principal of a loan rather than losing everything?
The major banks would be the losers because they lose the benefit of compound interest or even simple interest. It is those interest payments that add up fast.
Another plus is that it would rein in the major banks as well. The loss of income for them means that they will be more careful making loans in the future, because many bankers would face salary pay cuts rather than living off government guarantees of deposits as they do now.