[–] [deleted] 0 points 6 points 6 points (+6|-0) ago
An example I've heard from friends of the family is that teachers in high school do what they have to do at work. Hold the tests and teach the basic curriculum. But if you wanna have any shot at an A, you have to hire them privately. This money is exchanged in cash, without paying any form of tax on it. Greeks aren't too happy about taxes and that's coming back to bite them along with a series of overdue loans they've had to make due to the tax issue. It's a cultural thing I fear will take many years to set right. And by that time they're in so deep there's not much of Greece left! It's also a bad spiral. People now have a hard time getting a hold of money from banks, so there is little incentive to actually pay taxes for them right now. It's better to trade items or exchange cash, making the issue even worse.
[–] EliteTester ago
Greece has an economy that is made to expand fast using loans causing it to be very unstable but quickly explanding (duh), when it lost the ability to get more loans, it crashed.
[–] ScreaminMime 0 points 2 points 2 points (+2|-0) ago
Come listen my precious HST, the parents of Greece have been throwing BIG PARTIES for decades, but instead of paying for the cake themselves they told that baker their children would pay for it. Now that the children are grown, they don't want to pay for parties they never had. Many are leaving home leaving the parents with their own bills to pay.
[–] antiplebbitor ago
Greece borrowed a bunch of money from other countries and is now unwilling and unable to pay it back, thus risking national default/bankruptcy. It is a big deal for a country to bankrupt in such a fashion.
[–] SavePrivateRyne 0 points 2 points 2 points (+2|-0) ago
Greece has been borrowing much more than it could ever hope to pay back.
http://www.usatoday.com/story/money/markets/2015/06/25/qa-greece-debt-crisis-loan/29284181/
There's a quick read if you want a little more information.