Yeah, they’re certainly screwy countries when compared to the UK and Germany (and France, for that matter). But if they had their own currencies, they’d have a lot more flexibility right now. They could devalue and fuel their recovery through exports. Instead, Germany expects them to go through grinding deflation and unemployment to make good on German bank investments. If I were a Greek citizen, I’d tell the Germans to get bent, too.
The alternative, of course, is to keep bailing them out. But German citizens are understandably not too thrilled with that idea either.