From the Washington Post: Greece's upcoming default

http://www.washingtonpost.com/business/economy/greece-default-virtually-100-percent/2011/07/25/gIQALbpSYI_story.html

"The many positive aspects of the plan, Moody’s said, needed to be judged against 'the negative implications of this precedent-setting package should any country face financing challenges similar in severity to Greece’s. On balance, Moody’s says that, for creditors of such countries, the negatives will outweigh the positives.'”