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Greece Introduction - 2024


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Greece won independence from the Ottoman Empire in 1830 and became a kingdom. During the second half of the 19th century and the first half of the 20th century, it gradually added neighboring islands and territories, most with Greek-speaking populations. In World War II, Greece was first invaded by Italy (1940) and subsequently occupied by Germany (1941-44); fighting endured in a protracted civil war between supporters of the king and other anti-communist and communist rebels. The communists were defeated in 1949, and Greece joined NATO in 1952. In 1967, a military coup forced the king to flee the country. The ensuing military dictatorship collapsed in 1974, and Greece abolished the monarchy to become a parliamentary republic.

In 1981, Greece joined the EC (now the EU); it became the 12th member of the European Economic and Monetary Union in 2001. From 2009 until 2019, Greece suffered a severe economic crisis due to nearly a decade of chronic overspending and structural rigidities. Beginning in 2010, Greece entered three bailout agreements -- the first two with the European Commission, the European Central Bank, and the IMF; and the third in 2015 with the European Stability Mechanism -- worth in total about $300 billion. The Greek Government formally exited the third bailout in 2018, and Greece's economy has since improved significantly. In 2022, the country finalized its early repayment to the IMF and graduated on schedule from the EU's enhanced surveillance framework.

NOTE: The information regarding Greece on this page is re-published from the 2024 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Greece 2024 information contained here. All suggestions for corrections of any errors about Greece 2024 should be addressed to the CIA or the source cited on each page.

This page was last modified 04 May 24, Copyright © 2024 ITA all rights reserved.