Greece 2009-2012: timeline

Author: 
Martin Thomas

2000-7: Greek economy grows at 4.2% p.a., faster than most of Europe. Foreign capital floods into the country. Pasok in office 2000-4, ND in office 2004-9.

October 2009: Pasok wins big election victory against scandal-hit ND.

Feb 2010: Pasok government announces that the ND government had underestimated the 2009 deficit at 5% of GDP, when it was actually 12.7%. Eurostat will eventually estimate the 2009 deficit at 15.6% of GDP. Government starts cuts. First general strike on 24 February.

By April 2010: Greek government can no longer borrow on global financial markets. Greek government requests an EU/IMF "bailout".

May 2010: The first "memorandum" cuts voted through Greek parliament. General strike on 4-5 May: a bank set on fire on the edges of the protest.

November 2010, January 2011, July 2011, October 2011: further cuts packages.

May-August 2011: "Indignant citizens'" movement in city squares

September 2011: Government declares a new property tax of up to 16 euros per square metre, to be added to electricity bills, so that non-payers have their electricity cut off.

28 October 2011: Big protests at the annual official parades to celebrate Greek resistance to Italy in World War 2.

31 October 2011: Pasok prime minister George Papandreou announces a referendum on a deal for a supposed 50% haircut on Greek government debt to private creditors.

10 November 2011: New coalition government formed: coalition headed by banker Lucas Papademos and supported by both Pasok and ND.

Late months of 2011 and early 2012: movement of neighbourhood committees and unions against the new property tax, which ends with a court ruling that it is illegal to cut off electricity because of non-payment.

Feb 2012: Second memorandum agreed between Papademos government and the EU/ ECB/ IMF troika.

7 May 2012: Election for a new government to replace Papademos. ND gets 19%, Syriza 17%, Pasok 13%, Independent Greeks [right-wing anti-cuts party] 11%, KKE 8.5%, Golden Dawn 7%, DL 6%.

17 June 2012: New election called after ND fails to construct a government coalition. This time it's ND 30%, Syriza 27%, Pasok 12%, Independent Greeks 8%, Golden Dawn 7%, DL 6%, KKE 4.5%.

30 July 2012: After heavy police intervention, workers at Greek Steel suspend their strike, which has been going since 31 October 2011.