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Greece was in recession for over five years, emerging in 2014 by some measures. This fall in GDP dramatically increased the Debt to GDP ratio, severely worsening Greece's debt crisis. GDP per capita fell from a peak of €22,500 in 2007 to €17,000 in 2014, a 24% decline. The public debt to GDP ratio in 2014 was 177% of GDP or €317 billion.
The Greek government-debt crisis began in 2009 and, as of November 2017, was still ongoing. During this period, many changes had occurred in Greece. The income of many Greeks has declined, levels of unemployment have increased, elections and resignations of politicians have altered the country's political landscape radically, the Greek parliament has passed many austerity bills, and protests ...
"Plan Z" is the name given to a 2012 plan to enable Greece to withdraw from the eurozone in the event of Greek bank collapse. [27] It was drawn up in absolute secrecy by small teams totalling approximately two dozen officials at the EU Commission (Brussels), the European Central Bank (Frankfurt) and the IMF (Washington). [ 27 ]
Following the collapse, there were fewer, smaller settlements, suggesting widespread famine and depopulation. In Greece, the Linear B script used by Mycenaean bureaucrats to write the Greek language ceased to be used, and the Greek alphabet did not develop until the beginning of the Protohistoric Iron Age, c. 800 BC. [5]
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The Bronze Age collapse marked the start of what has been called the Greek Dark Ages, which lasted roughly 400 years and ended with the establishment of Archaic Greece. Other cities, such as Athens , continued to be occupied, but with a more local sphere of influence, limited evidence of trade and an impoverished culture, from which it took ...
It's starting to seem like there's a better chance of Mark Zuckerberg ditching hoodies than Greece avoiding default. In some respects though, the strange thing about the Greek default hoopla is ...
In a 2008 Gallup poll, Greeks were asked "whether it was better that the right wing won the Civil War". 43% responded that it was better for Greece that the right wing won, 13% responded that it would have been better if the left had won, 20% responded "neither" and 24% did not respond.