Eurozone Crisis — Austerity Imposed on Greece

As the dominant creditor voice in the Eurozone crisis, Merkel's government insisted on harsh austerity conditions attached to Greek bailout packages — deep pension and public sector cuts that produced a depression-scale contraction in the Greek economy, even as economists warned the terms were self-defeating and would prolong the crisis rather than resolve it.

Angela Merkel — CDU/CSU-led Coalitions

In power 2005–2021