Throughout history, numerous countries have faced economic crises at different points in time. Such crises affect the country's economic stability and have a domino effect on the country's social and political atmosphere. One of the most prominent financial crises in recent history has been the downfall of the Greek economy. Through this paper, we aim to understand the reasons leading up to the Greek debt crisis, the policies taken to tackle the grave issue and the aftermath of these policies. We have also covered the current scenario and how Greece's already weak economy is battling the Covid-19 pandemic.