Abstract. The article deals with the key aspects of economic and political development of Greece in 2014. Results of anti-crisis measures, prospects for the country to emerge from its worst recession and factors that will influence the economic growth are presented. The author also analyzes new internal political trends, first of all the rise of opposition parties as a result of the European Parliament and local elections. Particular attention is given to the foreign policy of Greece in crisis conditions and results of its presidency in the Council of the EU.