14. Greek Debt Crisis (2009-2018)
The Greek Debt Crisis, spanning from 2009 to 2018, was precipitated by excessive borrowing and fiscal mismanagement, leading to a sovereign debt crisis that necessitated multiple international bailouts (en.wikipedia.org). In exchange for financial assistance, Greece implemented austerity measures, including tax hikes, pension cuts, and public-sector layoffs, resulting in widespread economic hardship and social unrest. The crisis also exposed structural weaknesses within the Eurozone, prompting reforms aimed at enhancing financial governance and preventing future sovereign debt crises.
