"Will it be an orderly process, or are we looking at default of the messy Argentinian kind?"

"The best thing you can say about the rescue package is that it buys time to negotiate an orderly default. Restructuring and rescheduling is probably the only chance for both Greece and its bondholders to come out of this mess still standing." 

Wolfgang Münchau

http://www.ft.com/cms/s/0/da5b9516-4b1f-11df-a7ff-00144feab49a.html