A4
You are recycling news that isn't news anymore.
Let me tell you here and now: If Greece, Spain and Italy all default, it won't be just Monarch that disappear.
BA, Air France/KLM, easy, Ryanair and many other far more significant businesses (banks, stores, hotel chains, tour companies etc etc) than airlines will cease to exist.
You haven't got any facts to base your bullsh1t on, so I'd give it a rest if I were you.
Given the choice, in your scenario, I'd rather join a Swiss backed outfit (40 years of history) than a low cost (15 years or so history) low cost airline in Luton.