Greece’s debt crisis
Witness History16 Jul 2025

Greece’s debt crisis

It was a week that brought the future of Greece and the Eurozone to the brink. Ten years ago, on 6 July the Greek people voted against the terms of a financial bailout which included raising taxes and slashing welfare spending.

Greece owed €323bn to various countries and banks within Europe. Its banks were closed. A quarter of the population and half of Greece’s young people were unemployed.

The morning after the vote, Euclid Tsakalotos was brought in to replace Yanis Varoufakis as finance minister. His predecessor had accused European leaders of “terrorism” in their handling of the crisis. Parachuted in to last-ditch talks with angry European leaders, Euclid Tsakalotos describes to Josephine McDermott the make-or-break 17-hour summit in Brussels.

He reveals that when Angela Merkel, the leader of Greece’s biggest lender Germany, said she was leaving the room because she could not accept what was on the table, Donald Tusk, president of the European Council, actually locked the door to stop her leaving and force an agreement to be reached.

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(Photo: A queue outside a bank in Greece in 2015. Credit: Getty Images)

Episoder(2000)

How Liberia wrote off its debts

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The Galileo project

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The mothers of Argentina's disappeared

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The Mau Mau struggle against British rule

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During the 1950s in Kenya, armed rebels known as the Mau Mau fought against British rule. Thousands were taken captive and interned in camps by the British authorities. In 2011 Gitu wa Kahangeri, a Mau Mau veteran, spoke to Louise Hidalgo about his experiences.Photo: Gitu wa Kahangeri speaking to the BBC in 2016. Credit: BBC

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Resisting 'Europe's last dictator' in Belarus

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For more than 20 years, people in Belarus have been protesting against the authoritarian rule of President Alexander Lukashenko - who's been dubbed Europe's last dictator. Lukashenko came to power in a landslide election victory in 1994 but he soon changed the constitution to give himself sweeping new powers. He has remained in office ever since, winning elections which observers say are rigged. Opponents of the regime have faced harassment, violence and arrest. Some are believed to have been kidnapped and murdered by the state. Alex Last has been speaking to the exiled dissident and co-founder of the Belarus Free Theatre, Nikolai Khalezin, about the origins of the protest movement in Belarus.Photo: A banner compares Belarusian President Alexander Lukashenko to Stalin and Hitler, during a protest march in Minsk, Belarus, March 15, 2000 (Getty Images)

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Why the US rejected universal healthcare

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The USA is the only rich democracy not to provide universal healthcare. After WW2 US President Harry Truman was horrified that only a fifth of all Americans could afford proper healthcare. Most middle class Americans had no private health insurance and many found medical fees unaffordable. He calculated that more than 300,000 people died every year because they couldn't pay for proper treatment. In 1945 he tried to persuade Congress to push through legislation for an insurance programme meaning all workers would pay for their healthcare through a monthly fee or tax. But the American Medical Association - representing doctors - employed a public relations firm to lobby against the move. Claire Bowes has been listening to archive material of Harry Truman and speaking to Jonathan Oberlander a Professor at the University of North Carolina, Chapel Hill. Photo: President Harry Truman in 1947 (courtesy of US National Archives) Archive material: courtesy of the Harry S Truman Library

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Banning alcohol in an Indian state

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Punyavathi Sunkara recalls how she campaigned to stop the sale of alcohol in the Indian state of Andhra Pradesh to protect women from domestic violence and safeguard family finances. Pressure from women like Punyavathi helped persuade the state's chief minister, NT Rama Rao, to pass the prohibition law in 1995.

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