A look back at Greece's financial crisis since a deal with the European Union and International Monetary Fund was sealed in 2010
May 2nd 2010: Greek prime minister George Papandreou says he has sealed a deal with the EU and IMF, opening the door for a bailout in return for extra budget cuts of €30 billion over three years. The package represents the first rescue of a euro zone member.
May 4th-5th: Public sector workers stage 48-hour nationwide strike. Three people are killed when a bank is set on fire.
May 6th: Greek parliament approves austerity bill.
May 10th: Global policymakers install emergency safety net worth about $1 trillion to bolster international financial markets and prevent the crisis from damaging the euro. This includes €440 billion in guarantees from euro zone states. EU finance ministers say the IMF will contribute €250 billion.
July 7th: Parliament passes pension reform, a key requirement of the EU/IMF deal, and raises women's retirement age from 60 to match men at 65.
May 23rd 2011: Greece unveils series of privatisations, part of its goal to raise €50 billion by 2015 to reduce its debts.
June 8th: Greece agrees to extra austerity measures and savings up to 2015 to cut deficits and to keep receiving aid.
June 13th: Greece gets the lowest credit rating in the world after S&P downgrades it by three notches, to CCC from B.
June 17th: Papandreou reshuffles cabinet, appoints Evangelos Venizelos, his main party rival, as new finance minister. The new cabinet wins confidence vote on June 22.
June 29th: Papandreou wins parliamentary majority in favour of five-year austerity plan, winning access to new funding.
July 8th: IMF approves disbursement of €3.2 billion.
July 21st: Euro zone leaders agree on second rescue package with extra €109 billion of government money, plus contribution by private sector bondholders estimated to total as much as €50 billion by mid-2014.
October 2nd: Government draft budget figures say Greece will miss a deficit target set just months earlier. The 2012 draft budget is approved by cabinet and predicts a deficit of 8.5 per cent of GDP for 2011, short of target.
October 21st: Greece approves more austerity measures, defying violent protests in Athens and a general strike.
October 27th: Euro zone leaders reach a deal with private banks and insurers for them to accept a 50 per cent loss on their Greek government bonds under a plan to lower Greece's debt burden.
October 31st: Papandreou calls a referendum on the latest bailout without consulting European leaders. French president Nicolas Sarkozy and German chancellor Angela Merkel tell Papandreou Athens will not receive any more aid until it votes to meet its commitments to the euro zone.
November 4th: After intense pressure from European leaders, the government confirms it has dropped referendum plans.
November 5th: Papandreou survives a parliamentary confidence vote, avoiding snap elections.
November 6th: Papandreou seals a deal with the opposition to form a coalition to approve the bailout before early elections. Under the agreement, Papandreou will stand down.
November 9th: Greek political leaders agree on a new government, Papandreou steps down.
November 10th: Former European Central Bank vice-president Lucas Papademos is appointed to head a new coalition. He says Greece will implement the bailout deal before calling elections.
November 24th: The IMF welcomes a written pledge from Antonis Samaras, leader of the conservative New Democracy party, backing the bailout deal.
December 1st: Unions hold a 24-hour general strike to test the resolve of the new national unity government.
December 6th: Violence breaks out at protests outside parliament in Athens. Some people are wounded and 38 people are arrested.
December 7th: The new coalition passes an austerity budget aimed at cutting the deficit to 5.4 per cent of GDP from a projected 9 per cent in 2011, and generate a surplus before interest payments - a key step to lower Greek debt.
December 13th: Greece's public deficit widens by 5.1 per cent in the first 11 months of 2011, the finance ministry says.
December 14th: The IMF says that reforms are running behind schedule in most areas and the delays are stalling recovery.
January 28th 2012: Papademos seeks backing from party leaders for reforms that Greece must negotiate.
February 6th: Merkel tells Greece to hurry on accepting the painful terms for the new EU/IMF bailout. Venizelos, who has again met lenders, warns the stakes are rising.
February 9th: After repeated delays and all-night talks with leaders of the three Greek coalition parties and EU and IMF inspectors, political leaders clinch a deal. Unemployment in Greece rises to 20.9 per cent, a new record, after austerity measures already in place. Greece's two major labour unions GSEE and ADEDY say they will hold a 48-hour strike for February 10th & 11th. Euro zone finance ministers demand more steps by Greece and a parliamentary seal of approval before providing aid under the new bailout.
February 12th: Greek lawmakers endorse a new austerity deal after 10 hours of debate. Protesters fight pitched battles with riot police outside parliament and set buildings on fire. Euro zone finance ministers will meet on February 15th to decide on the bailout.
Reuters