Greece crisis a teachable moment on pension reform and debt burden

AS the world agonises again over the possible ramifications of a possible eurozone exit by Greece, the world - including countries like the US, China, and even Singapore - has much to learn from the Greek tragedy.

Teachable moments abound in how Greece is struggling with the complexities of pension reform and the scourge of debt.

The politically contentious topic of pensions is a major sticking point in the ongoing Greek debt crisis negotiations. Creditors refuse to budge on the need for more pension reforms while the current Greek government, whose base of supporters includes pensioners, calls the area a "red line".