I have yet to see
a plan for what would be done if Greece leaves the EU (votes "no" on July 5). Without a plan why would anyone vote "no"?
Where is the plan for Greek survival if not backstopped by the EU? Won't pensioners starve whereas now they are getting some Euros?
There is this from Wikipedia with no mention of the costs or who pays:
Plan Z during 2012
https://en.wikipedia.org/wiki/Greek_withdrawal_from_the_eurozone
Wow - thanks for this excellent citation (in particular the Financial Times article it references).
The article is the second in a three-part series (all worth reading if you're interested in the current Greek crisis), which can be found by googling the following terms:
part 1: "how the euro was saved"
part 2: "Inside Europe's Plan Z"
part 3: "if the euro falls europe falls"
The startling (but perhaps retrospectively unsurprising) fact is that we're reliving many of the things that already happened then (including a Greek Prime Minister calling a referendum (then quashed) on a Euro plan).
In any case, the articles don't directly answer your question, but I believe the paper by Anil Kashyap (linked in what's currently post #206 of this thread by ronin) at least briefly talks about a possible path.
Basically the greeks lose access to debt markets, but at the same time also get to write off the debt (the former is the cost of doing the latter).
This means (per the paper) that Greece would be forced to live within its means. Interestingly enough (also per the paper) this is something that it has already done in 2014 - the only thing keeping them in a deficit was the interest on the debt.
Therefore, the immediate effect of removing all debt could actually be positive for Greece, despite a future inability to incur more sovereign debt (at least until the markets forgive the default).
There is another positive factor - once out of the Eurozone, Greece gets to print their own money. This means they have access to a whole range of monetary policies which are currently out of their reach.
Their currency is likely to be weak compared to other currencies which will in turn boost Greek exports and boost Greek tourism (due to relatively low prices in Greece vs. Euro-denominated destinations). These boosts may help fuel a growth spiral in the Greek economy.
The upshot is, it's not a given that Greece is worse off outside the Euro. The pensioners certainly won't starve.
I still feel that staying in the Euro is the better option for Greece, but there are clearly trade-offs to be made.