Economic relations One of the main issues which shapes the modern-day relationship and major policies between Greece and the
European Union is the instability of its economy. Greece entered the
Eurozone in 2001 impaired, with a budget deficit above 3% and a debt-to-
GDP ratio of over 100%, which only worsened following its hosting of the
2004 Olympics (which caused the Commission to establish fiscal monitoring in 2005) and plummeted during the
Great Recession. In 2010, alongside the
International Monetary Fund, the EU loaned 110 billion euros in exchange for Prime Minister
Georgios Papandreou's commitment to austerity efforts. On February 21, 2012, the EU and the IMF approved a bailout for Greece to which its Parliament attached new austerity measures in 2013, erupting protests from
labor unions. Unable to meet its deadline in June 2015, another bailout for 2018 was approved in August. Despite economic reforms, by 2018 Greece accumulated debts of an estimated 290 billion euros to the EU and IMF. In order to relieve additional future financial debt, the government committed to adopting a new budget plan through 2060 alongside EU supervision and continuing to implement further austerity measures.
Migration In 2015, Europe was met with
an influx of immigration from the
Middle East through
Turkey, with Greece being the gateway country for an estimated one million refugees into the continent during a period of economic
recession. Following an open-border policy, the government faced financial, political and social turbulence, but aligned the EU's efforts in enhancing border and migration control in addition to a proposed
EU-Turkey deal to reduce the flow of refugees. Greece also supported the EU's policies on integration, immigration and asylum, in addition to the approach that the issue should be handled on the EU level, rather than nationally. , the Commission and its Task Force for Migration Management have put in place policies and mechanisms in order to assist Greece in the field of managing the phenomenon. The EU offers continuous support in border control and allocated one billion euros in the 2021–2027 Home Affairs Funds in addition to introducing an action plan to assist in voluntary relocation of immigrants to either their homeland or to different
Schengen states. Furthermore, infrastructures such as Multi-Purpose Reception and Identification Centers, healthcare services and integration programs have been established aimed to ease the process of assimilation of migrants in Greece. However, Greece has received backlash from the
ECtHR regarding its handling of the situation due to alleged numerous breaches of fundamental human rights which include the pushbacks of refugees on both land and ocean borders, the forced return of migrants to non-safe countries, and withholding of proper resources.
Energy Greece, being at the heart of
Europe, the
Middle East,
Africa and
Asia, plays a key role in the EU's mission on reducing its dependence on Russian gas and transitioning to sources of clean, renewable and
sustainable energy in addition to promoting
energy security. This includes projects such as the Greece-Egypt Interconnector, the
EuroAsia Interconnector and the
Trans Adriatic Pipeline. In recent years Greece was able to reach significant achievements in the field, such as an above-average net emissions reduction from 2005 to 2023 of 48.5%, and an estimated 2/3 reduction of emissions from ETS sectors. Under
REPowerEU, 38% of its 36.61-billion-euro funding to Greece is allocated towards climate objectives through investments in
renewables and energy efficiency sectors including wind parks, the interconnection between the mainland and the
Cyclades islands, and
reforestation.
Euroscepticism Euroscepticism is a prevalent phenomenon amongst the Greek public, with such sentiments increasing during periods of economic crises, such as the
Great Recession, immigration influx, and nationalistic conflicts. Anti-EU rhetoric in Greece is often stemmed from political parties, such as the
KKE and the
Greek Solution. Although lower than in heightened times of crisis, the spring 2025
Eurobarometer surveyed that 59% of Greeks report a tendency of mistrust towards the European Union institution, and 33% that the EU conjures a negative image. The
New Democracy, the current appointed political party, however, is overtly pro-European and promotes for a united Europe, as a continuation of
Konstantinos Karamanlis's legacy, who founded the party and managed Greece's integration into the
EEC. == References ==