A bad combination of go-go-go profit making, corruption (especially involving cronyism - everyone's trying to do a favor for his relative/friend/second cousin's dog), and reckless financial management. What's been widely reported in the press about the underlying causes of Greece's inability to meet its financial obligations in the EU has been mirrored by my experience dealing with study abroad programs. The Greeks I've met have been charming individuals, but terrible business managers.
I'm sure there are exceptions, of course. But it's a toxic climate for running a financially sound venture.
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Date: 2015-06-23 01:01 pm (UTC)I'm sure there are exceptions, of course. But it's a toxic climate for running a financially sound venture.