The much publicized European bail-out plan is on similar lines as that crafted by Bernanke and Co. for rescuing USA from its financial woes.
The European powers-to-be do not seem to realize that the root cause of their problems lie in the US economy. But nobody seems to care about that. As long as unbacked moolah is given to them, even if it not worth the paper it is printed on, the Greeks are quite comfortable with their easy lifestyle.