This sound political, it is not. Greece is a government like all other governments. Government operates like a household. A household has income and expenditure, father and mother. Both receive income and prepare household expenditure. If the expenditure is more than the income, there is a problem. Both go out to borrow money to cover the shortfall. They must repay the borrowed money. The borrowed money accumulate annual interest.
Greek people go on election to elect politicians to represent them in government. The Greek people then accepts, that the politicians will collect taxes (income) from them and provide countries necessities (expenditure), road, transport, schools, hospitals, police, education etc.
The Government then provide more necessities than the amount of taxes they received, reasons are many. They want to provide needy people, they want to buy voters from people. What they forget is that money resources are scarce; one cannot play around with it. They end up borrowing money from other government; they are obliged to pay back that money with interest.
In this scenario the Greece is in serious debt, expenditure exceeds income. It is now bankrupt, same goes for Lebanon. This is like a business you build, you use your money to set it up, pay employees, pay rental space until the business starts to do it for itself. You are then fine.
If the business income exceeds expenditure, it has enough money to grow. You expand or build a second one. If the business expenditure is more than the income, you are in trouble, you must go out to borrow money, the business debts increases. You must sell the business, and you are free from trouble.
In case of Greece & Lebanon, they cannot sell the country, it does not matter who governs it, how much she is indebted. Never make a mistake that politicians make. You receive income pay your debts, do not borrow money to pay debts, rather borrow money to expand your business, or make it generate more income than expenditure
How to avoid your own economic crisis
Never thing too far. The only to survive any economic/financial difficulties is to set up your own income stream. It doesn’t matter whether partime or full time. You must never underestimate the income you make from selling chocolates or soft drinks. Every penny has the potential of generating more pennies.
From my own experience, no one is born rich or wealthy. Your work hard to change your economic situation. You work hard to become a billionaire. Critics say, I tried failed and quitted. We were all there, we tried many business projects, we failed. But some of us did not quit.
The only first step to financial success is failure. Failing to achieve your economic goal. No one fails in life because of stupidity. You fail because, you don’t have knowledge of how things are. Once you grasp the KNOW HOW, you have accomplished the first step to success.
Same goes for countries of this world. Unfortunately they are led by people who don’t care about whether their countries fail or succeed. Don’t reason like them. Learn how things are done, fail, learn from it to become successful