Because they are not within the eurozone, obvs.
It didn't take long for the 'feckless Greeks' line to surface on
Nettime now did it? While Greek capital has been in trouble since
the 1970s, the current set of problems stems from the financial
structure of the Eurozone - namely, its set up so as to circulate
surplus German capital (where the currency is undervalued vis-a-vis
the old Deutschmark) to Southern Europe, where the currencies are
overvalued. This all went to hell in the financial crisis of 2008,
and instead of letting the investor banks in the Greek economy go
bust the ECB/EU/et al set out to save the French and German banks
via the Greek government (moral hazard anyone?). So what we are
witnessing is a conflict over French and German investments, and who
is to pay for the bail out of them (sound familiar?). But if its
orthodox marxism on the crisis you want, you could do worse that
Michael Roberts...
https://thenextrecession.wordpress.com/
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