Yeah, Greece is a one, bad example. And their problems are more to do with corruption, IMHO, than politics as such.
Norway and their oil! But even in the EU, look at the other Nordics (do I need to post a pic of a map for some people ), all of them are 'diet-socialist/socialism lite', as I call it, and have some of the best standards of living in the world and they haven't done too badly economically over the past few years. Iceland being an exception.