Well I don't know much economics stuff, but the main problem is the very bad administration of resources from all of the gonverments (socialistics or not). Also there are alot of people that get very well paid for doing practically nothing (civil servants, politicians, the usual stuff). Combine those with the recent economic crisis and you've got a nice mix that explains alot.
Last gonverment used to send FALSE info to the EU for our economic situation, aren't they smart or what?
I always thought that we greeks need some nice discipline, german-style.