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)

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I saw the soldiers who killed El Salvador's priests

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The 'Woman in Gold'

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The first Tasers

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The first Indian to win Miss World

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Reita Faria was the first Indian to win the Miss World beauty competition in 1966. She was studying medicine in Mumbai when a spur of the moment decision to take part in the contest turned her life upside down. Orna Merchant has been speaking to Reita Faria about her win, and whether she believes there is still a place for beauty contests in the 21st Century.Photo: Reita Faria wearing the Miss World crown in November 1966. Credit: Staff/Mirrorpix/Getty Images

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The Love Canal disaster

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The demolition of the Babri Masjid

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Cap Anamur: A rescue that led to jail

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