The government spends much more than it takes in in taxes. They can't squeeze more money from people because 30-40% of the population is dependent on the government in some way - either some form of welfare or a government job. There aren't enough workers in the private sector to support the rest. Greece has been spending more money than it can afford for years. They refused to reduce spending or do anything to try to manage their debt. They expected the rest of Europe to keep supporting them but that is no longer happening. You can try to blame greedy corporations but that is nether the problem nor a solution.