Analysis: Greek financial crisis coming to America?

The European Monetary Union doesn't include some type of a bail-out of the Greek government from the European Union, the EU central bank or any other member states. There is an article that allows for the intervention of the European Council to assist member states, however, the member state must be seriously threatened by a natural disaster or an exceptional occurrence beyond its control.

The structure of the European Monetary Union does not allow for the devaluation of Greece's currency and, most importantly, does not allow for it to leave the eurozone. Greece is forced to assume one of three positions. Greece can either default on all or part of the Greek government's debt, reduce its deficit drastically within just trhee years (13% to 3%) or considered being bailed out by Berlin.