The Debt Crisis in Greece

Last updated on July 26, 2015

On April 8, 2015, The New York Times ran an article written by Liz Alderman entitled "Explaining the Greek Debt Crisis" which gives a very concise overview of the history of Greece and it's financial troubles which first came to light back in 2009-2010.

The Guardian has a web page entitled Eurozone crisis live which has up-to-the-minute coverage of the ongoing crisis.

Jul 16, 2015:

By a vote of 229-64, the Greek Parliament passed the additional austerity measures required to get the bailout deal agreed to on July 13, 2015.

Jul 13, 2015:

A new, third bailout deal was reached where Greece's creditors agree to pay an additional $96 million in bailout loans to Greece. The deal is contingent upon the Greek government passing pension overhauls and sales-tax increases - the same issues that Greek voters rejected in a referendum on July 5, 2015. Greece has until July 15, 2015 to pass the additional austerity measures.

Jul 5, 2015:

By a vote of 61.3 percent to 38.7 percent, Greek voters decided in favor of rejecting the most recent deal offered by Greece's creditors.

Jun 23, 2015:

NPR's The Diane Rehm Show aired a one-hour program entitled "The Greek Debt Crisis And The Threat To The Eurozone".

Diane's guests were:

  • Scheherazade Rehman, professor of International Business and International Affairs at George Washington University and director of the university's European Union Center
  • Nicholas Karambelas, legal counsel for the American Hellenic Institute; founding partner of Sfikas and Karambelas in Washington, representing clients in matters relating to Greece and Cyprus
  • Tom Nuttall, Brussels correspondent and Charlemagne columnist for The Economist

Feb 21, 2012:

Greece agreed to a $173 billion second bailout deal.

May 2, 2010:

Greece agreed to a $146 billion bailout deal with the European Central Bank, the European Commission, and the International Monetary Fund. The deal also includes austerity measures.

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