This is going to undermine banks as it catches fire all over the EU. This is what should have been done in the USA. It would have but the system is way too corrupt. But, judges have to live in the areas they serve. They know their very lives depend on the people. When our farmers circle the Capitol with tractors and combines our gov't reacts swiftly. Starving is not an option. They also don't want the farmers to create solidarity with the people. This is why they try to make the sale of garlic illegal. eg Bill C-6 a fraud attempt perpetrated by a politician who owned a lot of shares in a pharma company.

Now we see a Greek Court clear the way for a citizen to get out of debt in 4 years and only a quarter of the debt paid back. What else did they expect the courts to do when extortion interest rates cripple peoples ability to pay off debt?

http://www.zerohedge.com/news/landmark-case-greek-court-writes-employed-bank-customers-debt

This is going to get real interesting fast.