• Greece gains independence from the Ottoman Empire after the 8-year Greek War of Independence.
  • Germany invades and conquers Greece. The resulting occupation resulted in rapid inflation, along with a severe famine during which over 100,000 Greeks died.

  • Greek and British forces unite to force the Nazis out of Greece.
  • Civil war breaks out between the Greek Provisional Democratic Government and the Greek Communist Party over the power vacuum left at the end of the German-Italian occupation. The American and British-backed government forces defeat the communists in 1949. The civil war resulted in over 100,000 killed and significant economic disruption.
  • Greece joins NATO.
  • Greece joins the European Union.

  • The euro replaces the drachma as the national currency.
  • Eurozone members approve a 110 billion euro rescue package, amid fears of Greece potentially defaulting on its debt.
  • All three main credit rating agencies cut Greece's debt rating to junk status. Eurozone members approve an additional 109 billion euro bailout package and later agree to a 50% debt write-off for Greece in return for further austerity measures.

  • Greece reaches an agreement with the European Union for an additional 130 billion euro bailout in return for tough austerity measures. In addition, a debt swap deal is made with private sector lenders, effectively halving Greece's massive debt load.

  • Greek unemployment reaches a record high of 28%.
  • Greece raises nearly 3 billion euros from world financial markets, in its first sale of long-term government bonds in four years. This is seen as an important step towards the country's economic recovery.
  • Greece's location on the Mediterranean Sea and its border with Turkey has made it a destination for refugees and asylum seekers. The increase in migrants from Northern Africa, Eastern Europe, and the Middle East has caused a crisis in Greece and throughout Europe. 

Sources:

BBC News open_in_new
Britannica open_in_new