Has the media exaggerated the situation in Greece? Watch
What's not getting as much attention as it should are some of the amazing self-management and mutual aid structures that have been built without the help of the state.
If you go to places such as Krete the Cyclades and Ionian Islands, they are better off than the mainland. That's pretty much all.
20% unemployment, govt. debt at 160% of GDP with no way of paying it off. Not sure what's to exaggerate.
This is a problem, but it is not the major problem. The next line in the table shows receipts as reported by the Bank of Greece. Overall, Greece earned as much from tourism in 2011 as it did in 2005 (modest decline). So while tourism made up 21% of exports in 2005, it made up just 18.6% in 2011 (continuing a steady decline from 25% in 2000). What is more, a euro in 2011 buys less than a euro in 2005: when controlling for inflation, Greece’s 2011 receipts were 20% lower than in 2005.