The long and sorry story of the pending bankruptcy of Greece has been playing out for half a decade now. But, living on the other side of the world in Australia, it's been a situation that's been far from front of mind and barely hitting our news headlines.

Last week the Greek people supported their government's stance of not agreeing to the austerity measures that their creditors were demanding.

What does this mean? Should Greece exit the Euro? Will this mean the end of European Monetary Union? This New York Times article is an interesting read and gives some insights into these questions and more...