The Greek debt crisis began in late 2009 when it was revealed that Greece had been underreporting its budget deficit. This led to a loss of confidence among investors, causing borrowing costs to rise sharply. As a result, Greece struggled to repay its debts, leading to a financial crisis that required international assistance. In 2010, the European Union and the International Monetary Fund provided bailout packages to help stabilize the Greek economy. In exchange, Greece implemented strict austerity measures, including tax increases and spending cuts, which sparked widespread protests and social unrest throughout the country.