a second shock following a power plant accident in 2011 and the restructuring of Greek government debt (to which domestic banks were heavily exposed) has plunged the economy back into recession. Access to markets has been lost, the fiscal deficit and government debt has risen and domestic banks have become all but insolvent (Charts 1 and 2, previous page). Attempts to secure foreign funding and recapitalize the banks were only partially successful, prompting the authorities to ask for EU and IMF assistance. However, reluctance by the previous government to accept key demands by the Troika has delayed approval of the program until now.