Greek declared bankruptcy because of over spending on things that they did not need. To pay for theses thing they got loans from other countries and after a while the interest rate per year rose higher than their annual income so they could only pay so much of it and then it kept rising and soon they had to declare bankruptcy. The reason for the spending on the useless things was so that the Prime minister would be reelected and he spent all the money on the things that made the people happy. He knew that eventually down the road Greece would become bankrupt but he also knew that he would be out of office at this time so that he wouldn’t have to worry about it.
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