European debt crisisThe European debt crisis, often also referred to as the eurozone crisis or the European sovereign debt crisis, was a multi-year debt crisis that took place in the European Union (EU) from 2009 until the mid to late 2010s. Several eurozone member states (Greece, Portugal, Ireland, Spain, and Cyprus) were unable to repay or refinance their government debt or to bail out over-indebted banks under their national supervision without the assistance of third parties like other eurozone countries, the European Central Bank (ECB), or the International Monetary Fund (IMF).
Greek government-debt crisisGreece faced a sovereign debt crisis in the aftermath of the financial crisis of 2007–2008. Widely known in the country as The Crisis (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 small-scale humanitarian crisis. In all, the Greek economy suffered the longest recession of any advanced mixed economy to date. As a result, the Greek political system has been upended, social exclusion increased, and hundreds of thousands of well-educated Greeks have left the country.
ThessalonikiThessaloniki (ˌθɛsələˈniːki Θεσσαλονίκη, θesaloˈnici), also known as Thessalonica (ˌθɛsələ'naikə,_ˌθɛsəˈlɒnɪkə), Saloniki, Salonika, or Salonica (səˈlɒnɪkə,_ˌsæləˈniːkə ), is the second-largest city in Greece, with slightly over one million inhabitants in its metropolitan area, and the capital of the geographic region of Macedonia, the administrative region of Central Macedonia and the Decentralized Administration of Macedonia and Thrace.
GreeceGreece, officially the Hellenic Republic, is a country in Southeast Europe, situated on the southern tip of the Balkan peninsula. Greece shares land borders with Albania to the northwest, North Macedonia and Bulgaria to the north, and Turkey to the east. The Aegean Sea lies to the east of the mainland, the Ionian Sea to the west, and the Sea of Crete and the Mediterranean Sea to the south. Greece has the longest coastline on the Mediterranean Basin, featuring thousands of islands.
