Considering that Greece is far less socialist than the European norm, I'm not sure how "socialism" is to blame. The closest Europe has to "socialism" is around here (Denmark), and it works very well. Greece has been an oligarchy for decades, with extremely high income inequality, a lack of even standard social-democratic welfare benefits like universal healthcare or minimum income support, and a corrupt government.
I don't know what you think socialism is, but we usually use the word to mean social collective control of the means of production.
On that basis we can say Greece's state owned industries and crony controlled companies with state mandated permits and monopolies make Greece more socialist than the First World typical.
Denmark is possibly the least socialist country in the world. (Some have the illusion that social insurance payments make Denmark more socialist but they impose little social control over individual choice, mostly redistributing cash from one person's young and healthy years to older less healthy ones and similarly from working years to schooling years.)
