The amount owed compared to the amount the country makes , is the trouble .
Greece had weak financial governance , some corrupt criminals among it's governing establishment , a poor tax collection regime , civil service appointed by political patronage , " Pork-Barrel-Politics " ( where politicians are judged by their local electorates on the number of projects , jobs , etc they create locally ) , and told fibs to the EU and to the European Central Bankers about their true financial state .
Greece wanted the huge infrastructure improvement grants the EU offers new members , but Borrowed their own contributions for these projects costs .
When the world economy tanked ( following the collapse of the US Banking system about a decade ago ) Greece could not find the repayment installments due for all those debts and so BORROWED AGAIN to fund those , a vicious spiral of increased indebtedness that can have only one end .
That is why Greece gets such a hard time now .
Because the nation behaved like a silly child in a sweetshop , and accordingly get little sympathy for their present stomach-ache .
Greece has never been a wealthy country, not even back in the days of Classical Athens. For all of it's wealth was as nothing when compared to the most wealthy nation ever on Earth - Egypt.
Seldom ever do people really understand the Greeks.
Just look at their Minister of Finance - he is undoubtedly a very clever financial wizard - a Professor on the subject. The impression he actually gives of that of a Spartan Warrior striding into battle - at least, that is what I see. I think the Germans are scared witless of him, not knowing what new demand he will make.
Yanis Varoufakis, Finance Minister of Greece
https://www.youtube.com/watch?v=FJP1Ysx4...
https://www.youtube.com/watch?v=zAXHrvLO...
The Greeks have yet more surprises - I think the Germans will regret opening their big fat mouths. They need to get on message - Greece and only the Greeks are the very foundation of our European and thus Western civilization. It was they who created the first democracy and all that followed from it is thanks to them.
What have the Germans done? I'll tell you in a word, Holocaust.
Germany, go take a running jump.
https://www.youtube.com/watch?v=yfl6Lu3x...
They made some stupid deals. They borrowed monies and was signed to a 25% payback. They sold a lot of the seaports to china, they sold most of the airports to Germany. They sell anything and everything to other countries. Who is behind all this corruption....the leaders in Government....*******.
Because they spend European money without criteria (as well as my country Croatia ).Also there's a lot of corruption.
They are in trouble because the "LEFT" gave all the money to the people in terms of "benefits" and they have no one to work and pay taxes. The same direction the US is headed
They didn't pay there taxes
