Third Hellenic Republic

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The Third Hellenic Republic (Greek: Γ΄ Ελληνική Δημοκρατία, romanized: Triti Elliniki Dimokratia) is the period in modern Greek history that stretches from 1974, with the fall of the Greek military junta and the final confirmation of the abolition of the Greek monarchy, to the present day. Today, it is the current government of Greece. It is considered the third period of republican rule in Greece, following the First Republic during the Greek War of Independence (1821–1832) and the Second Republic during the temporary abolition of the monarchy in 1924–1935. The term metapolitefsi (μεταπολίτευση, polity change) is commonly used for the entire period, but when used more strictly, this term refers to the early part of the period, beginning with the fall of the junta and culminating in the democratic transformation of the country. While the First and Second Hellenic Republics are not in common use except in a historiographic context, the term Third Hellenic Republic is used frequently. The Third Hellenic Republic has been characterised by the development of social freedoms and the European orientation of Greece. Greece became the tenth member of the European Communities in 1981, ushering in sustained growth. Investments in industrial enterprises and heavy infrastructure, as well as funds from the European Union and growing revenue from tourism, shipping, and a fast-growing service sector raised the standard of living, a trend which reached its zenith around the time of the 2004 Summer Olympics to the Eurovision Song Contest 2006. The country adopted the euro in 2001 and successfully hosted the 2004 Summer Olympic Games in Athens. In 2010, Greece suffered from the Great Recession and related European sovereign debt crisis. The crisis ended around 2018, with the end of the bailout mechanisms and return of growth. Politically, the parties ND and PASOK have been dominant, although...