IMHO, the Euro deserves most of the blame, in this instance.
Before the Euro, the Drachma would have risen or fallen, against other currencies, based on its relative performance. With the Euro, one of the main instruments of monetary-policy has been taken away from Greece, and other member nations. Britain kept the Pound, and their central bank. The British economy is thus able to find its own level, relative to the Eurozone. Greece does not have its own central bank, nor its own currency; therefore it can’t make those adjustments.
Yep....everything you said. When they took all that bailout from the Germans, I am sure the string that was attached was that they don’t drop the Euro. Had they done that and went back to the drachma they would be in way better shape by now IMO>