The political largesse is certainly a problem, as it is here. Never said that Greece didn't have those problems.
They do export a lot of commodities, but apart from that, they do depend heavily on tourism. So since that is the case, and because they use the Euro as their official currency, they cannot use monetary policy to debase their currency and bring in more tourists. This is the problem with the Euro. Countries like Greece are tied to a currency that is based on nations with different financial characteristics. To make a long story short, they have different economic needs than Germany or Spain. Since they can't take measures with their own currency, they are held hostage by the central bankers in Frankfurt.
Why on Earth would you agree to this? The Euro is a flawed currency.