Had a read of the Sunday Star Times this morning, there's a week-old story there reprinted from the Sunday Times - "Temple of Doom" by John Arlidge. It's about the very tough decisions that might be made soon after the next Greek elections. Online subscribers only, can read it.
Here's a similar article. http://www.theaustralian.com.au/busi...-1226358610274
The next election's result will be known on 17th June. If the population vote for the old system and not austerity, then the Drachma could be introduced in a hurry, but the net effect is possibly a halving of the value of their currency. Of course Germany and others will have to weigh up the costs of any domino effect, and even what the effect of possibly a stronger euro would have on their own export earnings. The weaker countries in the group pull down the value of the euro, good for exporters.
I can't see any of this nasty upheaval being bad for the gold price.