Greece can refinance the debt at lower rates...

One thing notable about Greece’s is that interest-rate on government-bonds is exceptionally high compared to its euro-zone peers, but, debt is not too much high in comparison. Others yields are closer to the ECB rates which leaves a lot of room to refinance the debt at much lower rates... Greece government can sell bonds at yields little higher than peers, but much below their current rates... it will find the buyers easily... Debt to repay debt, but at much lower rates ... Greece’s debt, probably, is not so much burdensome, if we adjust the interest-payments... They are sky-high... Not, sure who decides bond-yields in Greece, but it must be the treasury of the government, but, again, there is no central-bank to run QE to reduce overall rates... Government bond-yields decide direction of other assets in the economy... and hope other rates are also high... This could be a factor responsible for high unemployment and deflationary bias... Interest-rates are very high during recession... How does it will help the economy in recovery? Moreover deflation is high... High interest-rate and deflation points that real-interest rates are too high which is deteriorating the investment and employment... There are clear reasons why investment is not picking up within the country and unemployment is high... Internal-devaluation to increase competitiveness and employment at a time when the country can go for domestic demand will even hurt the domestic income and consumption...