As for Greece
Greece needs real devaluation, the increase of tradable-good price relative to non-tradable-good price, in order to recover trade balance. Exchange rate depreciation does it, sometimes up to 25% and more. I'm skeptical that deflation can take over the role. The deflation of 25%? How long does it take? Certainly, the Euro itself has devalued. But, it was not enough, as Greek current balance still is in red.