The Greek crisis is a COMPETITIVENESS crisis disguised as a FISCAL crisis and now being expressed as a GOVERNANCE crisis.?

Appropriate and Relevant is  Governance Crisis i think.

To put in a nutshell, the reasons for Greek’s political, social and financial turmoil are..

• Reckless borrowing by the Greek Government
• Very high non-productive expenditure
• More spending than earning
• Excessive military spending
• Failing to implement financial reforms by the Greek Govt
• High corruption levels
• Tax evasion by the citizens and business houses
• Single Euro zone currency….