Hellenic Republic

Elliniki Dimokratia

Note: Greece suffered a financial crisis when it was revealed in November of 2009 that the budget deficit for 2010 would exceed 12.7 percent. The country’s bond ratings were cut dramatically and the crisis caused a fall in the value of the euro. The government announced a range of austerity measures designed to reduce the deficit to 2.8 percent by 2010. After intense negotiations, on February 3, 2010, the EU and the IMF agreed to a bailout package estimated to eventually cost $61 billion.

Political Status: Gained independence from the Ottoman Empire in 1830; military rule imposed following coup of April 21, 1967; civilian control reinstituted July 23, 1974; present republican constitution promulgated June 11, 1975.

Area: 50,944 sq. mi. (131,944 sq. km.).

Population: 10,964,020 (2001C); ...

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