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A year after bailout, Greece struggles for brighter future

Summer 2015 saw Greece’s youthful left-wing Prime Minister Alexis Tsipras wage an extraordinary battle between the mighty European Union, the European Central Bank and the International Monetary Fund (IMF). Over five months, Tsipras and his firebrand finance minister, Yanis Varoufakis, took Greece and Europe to the brink as they demanded the creditors ease reforms imposed under two previous bailouts agreed since 2010. As the EU, ECB and IMF took a hard line, Greece’s financial flows shrank and a bank crisis loomed — but Tsipras, instead of buckling, stunned the world by announcing a referendum on the new deal proposed by creditors.

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