The country adopted the euro in 2001 and successfully hosted the 2004 Summer Olympic Games in Athens. In 2010, Greece suffered from the Great Recession and related European sovereign debt crisis. Due to the adoption of the euro, Greece could no longer devalue its currency to regain competitiveness. In the 2012 elections, there was major political change, with new parties emerging from the collapse of the two main parties, PASOK and New Democracy. In 2015, Alexis Tsipras was elected as prime minister, the first outside the two main parties. The Greek government-debt crisis, and subsequent austerity policies, resulted in social strife. The crisis ended around 2018, with the end of the bailout mechanisms and return of growth. Simultaneously, Tsipras, and the leader of North Macedonia, Zoran Zaev, signed the Prespa Agreement, solving the naming dispute that had strained the relations and eased the latter's way to become a member of the EU and NATO.
The country adopted the euro in 2001 and successfully hosted the 2004 Summer Olympic Games in Athens. In 2010, Greece suffered from the Great Recession and related European sovereign debt crisis. Due to the adoption of the euro, Greece could no longer devalue its currency to regain competitiveness. In the 2012 elections there was major political change, with new parties emerging from the collapse of the two main parties, PASOK and New Democracy. In 2015, Alexis Tsipras was elected as prime minister, the first outside the two main parties. The Greek government-debt crisis, and subsequent austerity policies, resulted in social strife. The crisis ended around 2018, with the end of the bailout mechanisms and return of growth. Simultaneously, Tsipras, and the leader of North Macedonia, Zoran Zaev, signed the Prespa Agreement, solving the naming dispute that had strained the relations and eased the latter's way to become a member of the EU and NATO.