October 2009 New Greek government elected.
5th November 2009 New Greek government ‘fess up. The budget deficit is 12.7% not 6%, as claimed by their predecessors!
20th November 2009 The European Central Bank tightened the rules for the collateral it accepts against loans, the new rules will come into force on March 1st 2010
December 2009 ECB says plans will not be delayed to help Greeks
Greek Government begins undertaking first round of austerity measures
25th March 2010 ECB agrees to continue to accept BBB rated debt to help Greece