The euro was always a warmed over duetch mark.
This is just germany flexing its control aspirations.
The socialists thought they could spend more in Greece in order to pad their pockets.
Greece is not the problem, SOCIALISM PERVADING THE EU is the problem.
The autocrats are afraid their jobs are toast.
It’s a diluted deutsch mark - and that was so far highly benefical for the club of Euro Members - how else could (southern) italy, spain and ireland have attracted so many foreign investments ?
Their banks never gave them a prime + loan for foreign investments if it was based on drachme or lira.
It’s to cheap to say that it was all a german power game to conquer the world - it was a succeful attempt to create a working inner european market - but that effect is to small to matter against the corrections now necessary because of the now obvious failure of the rating system.
No matter if it is spanish housing, us american housing or greek housing and enterprises or the irish bubble - there’s nothing that isn’t linked somehow to the bizar and (I guess) corrupt system of credit rating.
It was a chain mail seeingly supported by many politicians of all nations (e.g. George W. presidential policy of ‘ownership’ for example) bankers and other players.
The greek btw. don’t have a working state - since hundreds of years they struggle to get by on massive corruption. What you see and hear is no change in economics - it’s just looking at e.g. greece through clean glasses again.