Methinks someone overspent on their Olympics Moneypit.
Not really, they could overcome a one-time splurge like that over time, the problem is runaway entitlements. Greek workers apparently retire on government-supported pensions at age 50 and the amount they are paid is also makes our Social Security program look like a kid's allowance by comparison, it's a high percentage of their income during the actual wage-earning years. Then there are all the other social benefits provided like medical care to boot.
Given modern lifespans, every Greek worker is basically taking two or three times more out of the social welfare system than they could put into it even with nearly-confiscatory taxes at
every level, and non-wage-earning members of society like traditional stay-at-home wives aggravate the obvious economic black hole even more. Most workers will be drawing retirement benefits for longer than they actually worked in their careers.
It can't work as currently structured. They would either have to have to have an average life expectancy of about 56-62, or a birth rate like colonial America coupled with equally unbounded opportunity to employ it, for any such generous entitlement programs to work for more than a couple of decades at best.