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Greece faced a sovereign debt crisis in the aftermath of the 2007–2008 financial crisis.Widely known in the country as The Crisis (Greek: Η Κρίση, romanized: I Krísi), it reached the populace as a series of sudden reforms and austerity measures that led to impoverishment and loss of income and property, as well as a humanitarian crisis.
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 ...
[a] While the Greek government-debt crisis hereby is forecast officially to end in 2015, many of its negative repercussions (e.g. a high unemployment rate) are forecast still to be felt during many of the subsequent years. [111] During the second half of 2014, the Greek government again negotiated with the Troika.
Though the 16-nation eurozone sensed relief on Wednesday as Greece announced new austerity measures to reduce its spectacularly unsustainable budget deficit, observers who peek under the eurozone ...
Greece will make an early repayment of 5 billion euros ($5.3 billion) in bailout-era debt in 2025, Prime Minister Kyriakos Mitsotakis told a banking conference in Athens on Monday, describing the ...
The Greek government-debt crisis is one of a number of current European sovereign-debt crises.In late 2009, fears of a sovereign debt crisis developed among investors concerning Greece's ability to meet its debt obligations because of strong increase in government debt levels.
Read this to get a better understanding of Greece's debt crisis, and what it means for the future of the European Union.
Greece: 2012 [14] 2015: Due to the Greek government-debt crisis, Greece failed to make a €1.6 billion payment to the IMF on time (payment was made with a 20-day delay [15] [16]). Russia: 1918: Repudiation of Tsarist debts by Bolshevik revolutionaries. [17] 1998