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Greece timeline: It all started in 2001…

The European Central Bank increased the cap on emergency liquidity for Greek banks, two people familiar with the decision said, as it seeks to keep the lenders alive without financing the nation's government.

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The world is watching Europe as Greece and its international creditors try to hammer out a deal that will secure the country's financial future - for the time being at least.

But while many feel that the bout of uncertainty and brinkmanship is down to the country's radical government, Greece's problems go back much further than that.

CNBC takes a look at how Greece got into so much trouble.

By CNBC's Alexandra Gibbs, with assistance from Katy Barnato.

Kostas Tsironis | Bloomberg | Getty Images