The Greek Debt Crisis began in late 2009 when Greece revealed that its budget deficit was much larger than previously reported. This revelation raised concerns about the country's ability to repay its debts, leading to a loss of confidence among investors and higher borrowing costs for Greece. The crisis prompted the need for financial assistance from the European Union and the International Monetary Fund. In response to the crisis, Greece received multiple bailout packages, which came with strict austerity measures aimed at reducing the deficit. These measures included tax increases and cuts to public spending, which sparked widespread protests and social unrest. The crisis highlighted the challenges within the Eurozone and raised questions about fiscal responsibility among member states.