They would have defaulted and the drachma would have probably been at a point where a loaf of bread would cost millions of drachmas.
It also doesn't matter how "many" of a currency is needed for a loaf of bread, as long as the supply is available. The Italian lira was extremely inexpensive, but as long as the government made sure the supply matched the demand there was no issue
Edit: I'd also say that Greece is not really a "smaller European country", being the 14th most populous European country
You're just listing questions without contributing with any alternatives or reflection on what has been said by others
Hyperinflation is an extreme case and others have already posted several answers to this, which you have chosen to ignore
I've chosen to ignore the rest because everyone treats hyperinflation like a rare occurrence, under the circumstances.
I don't see how the number of defaulted countries that experienced hyperinflation is relevant to whether MTT is an accurate model for describing economical systems
I also can't find any responses to your post that states hyperinflation is a rare occurrence. On the contrary, there's answers to most of the questions you've asked me
I'm not interested in convincing you of one thing or another. I want to broaden my horizon through discussion, so if the only thing you bring to the table is questions that could be easily googled, I'm not interested in continuing this conversation
Inflation is only an issue if you spend money beyond what is required to achieve full employment in the workforce, since new money in the system is balanced with new wealth being generated through work
Inflation can then be controlled through taxation. Raising taxes pulls money out of circulation, thereby reducing inflation
Private banks already have the ability to create money out of thin air, but for some weird reason, that's apparently not really an issue for most people
I can't think of any small European countries that I can imagine defaulting without the euro. Could you specify which ones you think would have defaulted?