I thought it was the promise of pensions to all and retirement at 50. Hint: you need to balance your books, whether you're a mom-and-pop store or a nation.
On a different note, I'm voting NO on my next CC bill. That will work, right?
Man - people without any inherent understanding of economics need to shut the fuck up about these things. A country is not a household, and there is no rationale which makes it so. A country, unlike an entity that doesn't tax itself for revenue or have a currency, is ok as long as it grows fast enough to service its debt. The problem now, quite simply, is that unlike every other country this has happened to, Greek creditors are insisting on not taking a haircut an making this about morality.
The banks (from France and Germany) were repaid in full by the EMU in 2010, instead of telling them that they need to take a haircut, which was idiocy #1. Now they're trying to force Greece into agreeing to cut down their growth even further, after a 25% reduction in GDP already, which means the country is under extreme stress, negative growth and huge social unrest. Which actually stops Greece from actually repaying its debts. It's asinine to think this is smart, even more asinine to think this is some kind of a morality play of bad loans and screwed bankers.
This is fairly straightforward, and mostly political with a veneer of morality and debt being used as negotiating tactics. And in the end, this has fuck-all to do with your credit card, so stop bringing this up !