How did Greece recover economically after they defaulted?
Greece defaulted on its debt in 2012 and went through a difficult economic period known as the Greek debt crisis. The country's economic recovery after defaulting was slow and challenging, but there were several key factors that contributed to its eventual turnaround:

1. Structural reforms: Greece implemented a series of structural reforms aimed at improving its business environment, increasing competitiveness, and reducing corruption. These reforms included changes to the labor market, pension system, tax system, and public sector.

2. Fiscal consolidation: Greece implemented significant fiscal consolidation measures to reduce its budget deficit and debt levels. This involved cutting public spending, increasing taxes, and reducing the size of the public sector.

3. Support from the international community: Greece received financial assistance from the European Union, the European Central Bank, and the International Monetary Fund in the form of bailout loans. These loans helped Greece avoid defaulting again and provided the country with the breathing space it needed to implement reforms and stabilize its economy.

4. Increased exports: Greece was able to increase its exports and attract foreign investment by focusing on industries such as tourism, shipping, and agriculture. This helped to boost the country's economic growth and reduce its reliance on imports.

5. Improved investor confidence: As Greece's economic situation stabilized, investor confidence in the country improved. This led to increased foreign investment and a gradual return of capital to the country.

Overall, Greece's economic recovery after defaulting was a slow and challenging process that required significant reforms and international support. While the country still faces economic challenges, it has made progress in stabilizing its economy and improving its long-term prospects.
Over how many years did their recovery take place?