Greece had been a collection of city-states for millennia; it has never been a military or economic power. It's a tiny country of rocky islands with a lack of resources. It had been colonized by the Turks for a very long time, and it only gained independence because the Ottoman Empire destroyed itself from within, not because Greeks were stronger. It has only been independent for 200 years, and dealt with civil and world wars. It hosted the Olympics in 2004 which it did not even have the money for. They borrow a lot of money because they don't have enough revenue coming in except for tourism and olives or whatever. Like other Mediterranean states, it has an incompetent government and people avoid paying taxes whenever they can. They don't have the same work ethic as Germanic states either. It joined the Eurozone under false pretenses and massive debt, and ever since the 2008 recession in the U.S, it has had massive effects around the globe, and hits hardest to the countries with the most debts.