Greece’s debt crisis
Witness History16 Juli 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)

Avsnitt(2000)

How the world woke up to climate change

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The world's first environment conference

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Proving climate change: the 'Keeling Curve'

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The Greenham Common women's peace camp

The anti-nuclear weapons protest was the biggest women-led movement in the UK since the Suffragettes. It began in 1981 when Ann Pettitt from Wales organised a women-led peace march from the Welsh capital Cardiff to the airbase at Greenham Common, where American nuclear-tipped cruise missiles were being kept. A small group of women decided to set up camp outside the fences of Greenham Common to continue their protest. Women from all over the UK joined the demonstrations, some travelled from Europe and beyond to lend their support. At its peak, thousands of women camped around the base, and some form of protest camp remained for 19 years until all the nuclear weapons were moved and the airbase was decommissioned. It's now an open nature reserve. Ann Pettitt has been telling Rebecca Kesby why the women were prepared to leave jobs and families to sleep out in the cold to try to stop a nuclear war. Photo: Women from the Greenham Common peace camp blocking Yellow Gate into RAF Greenham Common , 1st April 1983 . (Photo by Staff/Reading Post/MirrorpixGetty Images)

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