The Germans without whose help Greece will fall further down a deep hole have this to say, reported by the FT:
..."The mood in the German Bundestag is strongly opposed to any significant financial package.
“We have a big problem,” said Hans-Peter Friedrich, deputy leader of the largest Christian Democrat-Christian Social Union group in the parliament. “Four years ago we increased our pension age to 67. In Greece it is 55. We cannot persuade our people that we will give the Greeks money to finance their state spending when they have not carried out their most urgent reforms"...
55 is the age of retirement or when the pension is collectible? If this ain't a "free lunch", I don't know what else it could be.
So, any wonder Greece is going broke? How to fix it is not an economic issue. You can see it is deeply political.
Once folks are used to "free lunches" they expect that to be their right. Who promised them initially? You don't need a PhD from Oxford to figure that one out.