Balance of Power

Greece Is Transformed After 10-Year Battle With Austerity

The country teetered on an economic precipice in 2015 and now its finances are the envy of Europe.

Shoppers on Ermou Street, a busy thoroughfare in Athens, on May 10, 2025.

Photographer: Nick Paleologos/Bloomberg

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In a referendum 10 years ago tomorrow, weary Greek voters rejected additional austerity measures demanded by international creditors, pushing the debt-laden country to the brink of crashing out of the euro zone.