After reading about the Greek debt crisis for over a year now,  International media focus on how the Greek government and people spend their money. But an equally important problem is the inability of the Greek state to collect revenues.“What went wrong in Greece?” Apparently, Greece’s adoption of the euro “made it easier for the country to borrow money…. Greece went on a big, debt-funded spending spree, including paying for high-profile projects such as the 2004 Athens Olympics.” Isn’t this a big part of project planning,scheduling, and controlling. I feel as though Greece really never had a strategic plan for anything, nor did they have control of their expense. Greece debt has accumulated to 350 billion and need to be bailed out  at least a 130 billion by march 20, 14.5 billion goes to Athens. That is a huge some of money!

Now I know you guys are thinking, how does a country that is gone in debt part of a project planning ,scheduling, or have to do with controlling. Greek debt actually accumulated back in the 1980s and early 90s, years before Europe got its common currency. The size of the Greek public sector (as a percentage of GDP or share of the labor market) is around or even below average compared to the rest of Europe. I feel as though Greece never really planned or controlled their spending habits, nor have they scheduled or learned from it. Look at where there country is at now, if they planned an action to make up for their revenues , control their spending and schedule to figure this out before hand instead of waiting it out. Look at the effect it has on the world, and on Europe. Not only is Greece part of the subject but many other countries are  following the pattern of Greece . Another country not to far away would be Italy, im sure that there are more to come.  For example, if Greece was scheduling , they should be resourcing, making ways to figure out revenues for their country, assign people to make sure this doesn’t get out of hand. On the other hand, if they were controlling, as soon as they know that there country is going downhill, they should revise and change plans or even monitor resources, cost and quality. But before all that comes the planning, that’s where they should set goals, identify their resources, and define there overall goal for their countries future.

The real question is, do you think that they are in fault for bringing there country down by not doing anything about it, besides asking for a bailout? Or if they do get the bail out, what should they do for the future? Should they revise their plan, schedule, and control for the better of Greece? Or simply just wait for another bailout to happen? What are your thoughts on Greece and there vast amount of debt? Not only that but what else have we learned in our Management class that Greece could use for future reference.

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