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I've been following the Greek credit crisis with amazement. After 15 years or so of massive overspending they have been called to account as institutions refused to lend them any more money for fear it wouldn't be repaid. They managed to become incredibly indebted because successive Greek Goverments falsified its own accounts. They are officially bankrupt and their Government hasn't been able to meet their debt obligations, so the European Union (mainly the Germans) have been called upon to help out. This help has mainly been driven by fear of the Greeks defaulting on their debts, and dragging down the entire Euro currency with it (the fear having also spread to Italian and Spanish government debts) .

What I cannot understand is that far from the Greeks being grateful for being bailed out, the popular sentiment is anger, with rioting on the streets of Athens. A significant proportion blame it on an American-led conspiracy to bring down the country.

Can someone please explain this to me? In an educated Western country, how does massive overspending on your Government credit card equate to a foreign conspiracy?