Greece is in debt. Everyone knows that. But the reason is what matters.
Before Greece joined the Euro Zone, it was a poorly governed country with middle income and that is how the investors treated it. Everyone thought it was a bad risk to invest in this country but when Greece joined in on Euros, they were treated more highly in regards to investments. This is because the investors thought that Germany would bail Greece out if they couldn't repay. They were wrong. When Greece saw that this was cheap money, they kept borrowing money and in the end they couldn't pay it back. The other Eurozone members were just not willing to pay for Greece which led to a market panic in 2010 and the country went into a debt with interest rates spiking.
So basically, Greece joined the Eurozone, kept borrowing money and in the end just couldn't pay it back.
Before Greece joined the Euro Zone, it was a poorly governed country with middle income and that is how the investors treated it. Everyone thought it was a bad risk to invest in this country but when Greece joined in on Euros, they were treated more highly in regards to investments. This is because the investors thought that Germany would bail Greece out if they couldn't repay. They were wrong. When Greece saw that this was cheap money, they kept borrowing money and in the end they couldn't pay it back. The other Eurozone members were just not willing to pay for Greece which led to a market panic in 2010 and the country went into a debt with interest rates spiking.
So basically, Greece joined the Eurozone, kept borrowing money and in the end just couldn't pay it back.