Like a family spending more than the amount they earn each month, Greece has piled a mountain of debt when spending was excessive.
David Kotok, chief investment officer of Cumberland Advisors, said the company, "the ongoing government debt to implement the promises that politicians make" made Greece become impoverished.
Worse, for the purpose of social benefits, retirement age in Greece is 57. This figure compared with the United States is quite low, when retirees begin to receive their salary at age 62. Although early retirement is very good for Greek workers, it has caused a huge financial burden for government.
the tax evasion in Greece is also very popular, as people evade their obligations, the government has little budgetary funds far not gained much profit for themselves.
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