If a businessman ran Greece he could put them on a sound financial footing in short order. Sell the art. Make a port deal with the Russians. Sell some islands. Cut the benefits and establish a free economy. But nobody would go along. It’s like the failing companies in the ‘90’s who owned property worth more than the entire company was worth. (Blocks of downtown Dallas, for example.) But they couldn’t think outside the box. They got bought and broken apart. So, in their attempt to save all they saved nothing.
I recall the demise of Pan Am Airlines. Their labor costs due to the unions made them unprofitable. If management was interested in fulfilling their duty to stockholders, they should have shut down, sold their assets, and declared a big dividend.
But that would have meant that MANAGEMENT would be out of work. Can't have that.
So instead they slowly sold assets to subsidize operating costs, until there was nothing left. The stockholders got nothing, but management got their fat salaries and bonuses to the end.