Greece will receive a second bailout from the European Union -- to the tune of €130 billion ($173 billion )-- as part of a deal reached by Eurozone finance ministers on February 21st.
Last week, the Greek government passed new austerity measures, making even deeper cuts to the country's public sector. Thousands of Greek citizens have taken to the streets to protest the plans, which will include more cuts to the education budget.
"The country is in a very deep crisis and, naturally, education is affected," Panos Tsakloglou, a professor in the department of International and European Economic Studies at Athens University of Economics and Business, said in an email. "If we really believe that human capital is the most important factor associated with economic growth, these cuts are likely to have a lasting impact."