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.

Eye-witness accounts brought to life by archive. Witness History is for those fascinated by the past. We take you to the events that have shaped our world through the eyes of the people who were there. For nine minutes every day, we take you back in time and all over the world, to examine wars, coups, scientific discoveries, cultural moments and much more.

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

Episoder(2000)

The lost Nazi-era art trove

The lost Nazi-era art trove

In 2012 a stunning, secret collection of art was found in Germany. Much of it had disappeared during Nazi rule in the 1930s and 40s. It had once belonged to one of the Nazi's top art dealers, Hildebrand Gurlitt. It was found by chance in the Munich apartment of his elderly, reclusive son, Cornelius. It contained lost works by Renoir, Matisse, Chagal and the masters of the German expressionist movement. Many of the works had been confiscated during the Nazis "Degenerate Art" campaign in the late 1930s, when the Nazis stripped thousands of works of art from public display. Alex Last spoke to Dr Meike Hoffmann, an expert on Nazi art policy, who was one of the first to examine the collection. Photo: One of the art works discovered in the Gurlitt collection was Pferde in Landschaft (Horses in Landscape) by famous German expressionist Franz Marc.

2 Jul 202013min

Quarantined in a TB sanatorium

Quarantined in a TB sanatorium

What it was like to be a child quarantined in a sanatorium for tuberculosis patients in the 1950s. Ann Shaw was nine when she was first admitted to the Craig-y-nos sanatorium in Wales and 13 when she was finally allowed home. Until antibiotic treatments came along, to stop the disease spreading, TB patients were kept apart from the general population and their families, often for years. This included babies and children, leaving many traumatised. Ann Shaw tells Louise Hidalgo about the half-life they lived in the sanatorium.Picture: boys on the balcony of the Craig-y-nos TB sanatorium; fresh mountain air was regarded as one of the best treatments for TB (Credit: from the private collection of the family of Mari Friend, a former patient at Craig-y-nos)

1 Jul 20209min

The Rolling Stones drugs trial

The Rolling Stones drugs trial

Mick Jagger and Keith Richards went on trial for drugs offences in June 1967. The case attracted attention around the world, and sealed their reputation as rebels. The men were originally sentenced to prison but on appeal their sentences were drastically cut and the trial came to symbolise Britain's changing values. Photo: Mick Jagger (left) and Keith Richards of The Rolling Stones walk in the garden of Redlands, Richards' Sussex house, after the disclosure of their sentences for drug violations, July 1967. (Photo by Hulton Archive/Getty Images)

30 Jun 20208min

Jana Andolan – Nepal’s people power movement

Jana Andolan – Nepal’s people power movement

A people’s movement called Jana Andolan brought an end to Nepal’s absolute monarchy in the spring of 1990. Political parties worked together with students, workers and civil society groups to organise strikes and street protests – but although the king eventually agreed to their demands, it was the beginning of a long period of political instability. Lucy Burns speaks to activist and writer Devendra Raj Pandey about his memories of the first Jana Andolan.PHOTO: Jubilant protesters take to the streets on April 9, 1990 in Kathmandu after the government announced an end to the 30-year ban on multi-political parties. (DOUGLAS CURRAN/AFP via Getty Images)

29 Jun 202010min

Russia’s bitter taste of capitalism

Russia’s bitter taste of capitalism

Chaos and hardship hit Russia with the rapid market reforms in early 1992, just weeks after the collapse of the USSR. In 2018 Dina Newman spoke to one of the architects of this “shock therapy” - Andrei Nechaev, who was then the Minister for Economic Development.This programme is a rebroadcast.Photo: Old women selling cigarettes on the streets of Moscow in 1992. Credit: BBC.

26 Jun 20208min

The Chilean economy and its 'Chicago Boys'

The Chilean economy and its 'Chicago Boys'

Following the violent military coup that overthrew Chile's socialist government in 1973, the new regime led by General Augusto Pinochet began a radical overhaul of the economy. It was based on a free-market economic plan created by a group of economists known as the Chicago Boys. Mike Lanchin has been speaking to one of them, Rolf Lüders.Photo: General Augusto Pinochet (L) poses with socialist Chilean president Salvador Allende (R) in Santiago, just after Allende appointed him the head of the army, and only three weeks before Pinochet's military coup in September 1973. Credit: AFP/Getty Images

25 Jun 20209min

Tanzania's socialist experiment

Tanzania's socialist experiment

In the late 1960s Tanzania's first post-independence president, the charismatic Julius Nyerere, believed that endemic poverty in rural areas could only be addressed if peasant farmers relocated to larger villages and worked collectively. It was part of a new experimental form of socialism, known as Ujamaa. In 2016 Rob Walker spoke to two Tanzanians who remember it well.This programme is a rebroadcast.Photo: Tanzanian women cultivating the soil (AFP/Getty Images)

24 Jun 20209min

South Korea's economic miracle

South Korea's economic miracle

An eyewitness account of how a poor, war-ravaged nation became a global economic powerhouse. We hear the memories of Dr Kongdan Oh, who grew up in South Korea in the 1950s, in the aftermath of the Korean War. The country had been left devastated by the conflict. Then, in the early 1960s, South Korea's new military leader, General Park Chung-hee, launched an ambitious national drive for rapid economic growth. For many, it marked the start of South Korea's economic transformation. Photo: South Korean labourers balancing baskets of coal, while working inside the grounds of a factory. Busan, 1967 (Keystone/Hulton Archive/Getty Images)

23 Jun 202014min

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