Greece office held by head of government Prime Minister of Greece
Politics
Greece is a unitary parliamentary republic. The current Constitution was drawn up and adopted by the Fifth Revisionary Parliament of the Hellenes and entered into force in 1975 after the fall of the military junta of 1967–1974. It has been revised three times since: in 1986, 2001, 2008 and 2019. The Constitution, which consists of 120 articles, provides for a separation of powers into executive, legislative, and judicial branches, and grants extensive specific guarantees (further reinforced in 2001) of civil liberties and social rights. Women's suffrage was guaranteed with an amendment to the 1952 Constitution.
The nominal head of state is the President of the Republic, who is elected by the Parliament for a five-year term. According to the Constitution, executive power is exercised by the President and the Government. However, the Constitutional amendment of 1986 curtailed the President's duties and powers to a significant extent, rendering the position largely ceremonial; most political power is thus vested in the Prime Minister, Greece's head of government. The position is filled by the current leader of the political party that can obtain a vote of confidence by the Parliament. The president of the republic formally appoints the prime minister and, on their recommendation, appoints and dismisses the other members of the Cabinet.Legislative powers are exercised by a 300-member elective unicameral Parliament. Statutes passed by the Parliament are promulgated by the President of the Republic. Parliamentary elections are held every four years, but the President of the Republic is obliged to dissolve the Parliament earlier on the proposal of the Cabinet, in view of dealing with a national issue of exceptional importance. The President is also obliged to dissolve the Parliament earlier if the opposition manages to pass a motion of no confidence. The voting age is 17.According to a 2016 report by the OECD, Greeks display a moderate level of civic participation compared to most other developed countries; voter turnout was 64 percent during recent elections, lower than the OECD average of 69 percent.Debt crisis (2010–2018)
The Greek economy had fared well for much of the 20th century, with high growth rates and low public debt. Even until the eve of the financial crisis of 2007–2008, it featured high rates of growth, which, however, were coupled with high structural deficits, thus maintaining a (roughly unchanged throughout this period) public debt to GDP ratio of just over 100%. In 2009, after an election and change in government, it was revealed that Greece's budget deficit had for years been considerably higher than the officially reported figures. In the years before the crisis, Goldman Sachs, JPMorgan Chase and numerous other banks had developed financial products which enabled the governments of Greece, Italy, and many other European countries to hide their levels of borrowing. Dozens of similar agreements were concluded across Europe whereby banks supplied cash in advance in exchange for future payments by the governments involved; in turn, the liabilities of the involved countries were "kept off the books". These conditions had enabled Greece as well as other European governments to spend beyond their means, while still technically meeting the deficit targets set out in the Maastricht Treaty.The Greek crisis was triggered by the turmoil of the 2007–2009 Great Recession, which caused Greece's GDP to contract by around 2.5% in 2009. Simultaneously, the higher-than-believed budget deficits in the preceding years were revealed to have been allowed to reach 10.2% and 15.1% of GDP in 2008 and 2009, respectively. This caused Greece's debt to GDP ratio (which had been high but stable at just over 100% until 2007, as calculated after all corrections) to spike to 127%. In addition, being a member of the Eurozone, the country had essentially no autonomous monetary policy flexibility. 
Consequently, Greece was "punished" by the markets which increased borrowing rates, making it impossible for the country to finance its debt since early 2010.
In May 2010, the Greece's deficit was again revised and estimated to be 13.6% the second highest in the world relative to GDP. Public debt was forecast to reach up to 120% of GDP in the same year, causing a crisis of confidence in Greece's ability pay back loans.
To avert a sovereign default, Greece, the other Eurozone members, and the International Monetary Fund agreed on a rescue package which involved giving Greece an immediate €45 billion in loans, with additional funds to follow, totaling €110 billion. To secure the funding, Greece was required to adopt harsh austerity measures to bring its deficit under control. A second bail-out amounting to €130 billion ($173 billion) was agreed in 2012, subject to strict conditions, including financial reforms and further austerity measures. A debt haircut was also agreed as part of the deal. Greece achieved a primary government budget surplus in 2013, while in April 2014, it returned to the global bond market. Greece returned to growth after six years of economic decline in the second quarter of 2014, and was the Eurozone's fastest-growing economy in the third quarter. A third bailout was agreed in July 2015, after a confrontation with the newly elected government of Alexis Tsipras.
Partly due to the imposed austerity measures, Greece experienced a 25% drop GDP between 2009 and 2015. This had a critical effect: the debt-to-GDP ratio, a key factor defining the severity of the crisis, would jump from its 2009 level of 127% to about 170%, solely due to the shrinking economy. In a 2013 report, the IMF admitted that it had underestimated the effects of so extensive tax hikes and budget cuts on the country's GDP and issued an informal apology. The Greek programmes imposed a very rapid improvement in structural primary balance (at least two times faster than for other Eurozone bailed-out countries). The policies have been blamed for worsening the crisis, while Greece's president, Prokopis Pavlopoulos, stressed the creditors' share in responsibility for the depth of the crisis. Greek Prime Minister, Alexis Tsipras, asserted that errors in the design of the first two programmes which led to a loss of 25% of the Greek economy due to the harsh imposition of excessive austerity.Between 2009 and 2017 the Greek government debt rose from €300 bn to €318 bn, i.e. by only about 6% (thanks, in part, to the 2012 debt restructuring); however, during the same period, the critical debt-to-GDP ratio shot up from 127% to 179% basically due to the severe GDP drop during the handling of the crisis.Greece's bailouts successfully ended (as declared) on 20 August 2018.
Head of Government Position Chief Minister of State Prime Ministership Chief of Executive State Premier