Debt crisis destroys PASOK governing position

Greece faced a sovereign debt crisis in the aftermath of the 2008 financial crisis. Widely known in the country as The Crisis, it forced the government to carry out a series of sudden reforms and austerity measures, concurrently with loss of income and property. In all, the Greek economy suffered the longest recession of any advanced mixed economy to date and became the first developed country whose stock market was downgraded to that of an emerging market in 2013, only starting to be reclassified back as a…