In fact, this article merely reflects the shock and confusion of powerful creditors accustomed to having their own way, every time, a sort of "golden vote" in every negotiation.
It should be remembered that no country is economically insignificant to its citizens, so the country's loss is their loss. And some citizens of the debtor countries have very little left to lose.
If a debtor country is so economically insignificant to its creditors, it raises a couple of questions such, as why the creditors bothered to lend SO MUCH money to such a small and weak borrower to begin with. And why the creditors can't help the small and insignificant country raise its export revenues in order to repay the external loans.
Hotel occupancy rates did top 83% in Athens in 2014, but there are probably a lot of other empty houses available to tourists. This has become an important new "export activity" in Portugal.
Raising pressure and mobilizing all the financial media, the big creditors may "win", yet again, at great pain for everyone else. But it may be a Pyrrhic victory, raising risks for European integration, as the smaller countries are trapped in continuing debt and impoverishment.