ABSTRACT
In this chapter we examine the chronicle of the Greek debt crisis to shed light on Greek political reasoning and response. For this purpose, it is necessary to outline the events that culminated in the introduction of the first Memorandum of understanding and the subsequent political apprehensiveness. Special attention is stressed on the mentality of the political elite and its overt unwillingness to take measures when the crisis unfolded. Due to the ongoing nature of the crisis, it is difficult to extract credible conclusions on its outcome as Greece has recently agreed to put a third bailout deal into effect.
