When a private debt is handed to a nation that had no part in its preparation and no say regarding its right of responsibility, then we have not a democracy left. The fact is since this nation became a republic it has never been a full democracy but instead embraced a theocracy and a 'cute hoor culture', where brown envelopes were the norm and, to be honest, was just not normal.
It is all perhaps best explained by Cicero, ethical philosopher and Roman statesman in 42 BC:
"A nation can survive its fools and even the ambitious but not treason from within. An enemy at the gates is less formidable for he is known and carries his banner openly.