This was compounded in 2010 when Greece entered into a sovereign debt crisis, leading to other member states suffering a sudden loss in confidence, which eventually brought the euro area to the brink of collapse. Extensive rescue packages by the governments along with non-standard measures taken by the European Central Bank helped to calm the markets and prevented the crisis from escalating.
The Government has established institutions to provide technical support, including training and advice as well as direct financial assistance to SMEs, fiscal incentives have been provided for SME development (though, perhaps this is not sufficiently known) and some private financial institutions have opened small business windows to service the sector.