Those countries lost competitiveness in export markets because they tolerated inflation and did not hold the line on wages.
The swings have a deleterious effect on the markets because they undermine confidence and investors start sitting on the sidelines.
"But a lot of them have had to look for alternative markets because they can't afford to pay these rents".
New York artists and clothing designers fled to higher-end crafts fairs and flea markets because they couldn't compete.
They are often called vertical markets because they offer everything within a single industry, from raw materials to finished products.
ALL countries that are in the euro need flexible labour markets, because they cannot devalue their currencies if they become uncompetitive.
People visit flea markets because they are looking for bargains, or for items that they would not necessarily find in an ordinary shop.
Governments like Italy's are at the mercy of markets because they simply don't have the cash to pay off even some of their bonds that come due.
Losses on these instruments could outstrip those in the so-called cash markets because they are much bigger than their underlying assets.
Private sector and charity providers have argued that public sector hospitals have an unfair advantage in healthcare markets because they are exempt from paying corporation tax.
"They find it hard to export their product to developed markets because they don't meet strict standards in developed countries," she said.
