Mickey Mouse latest victim of Greek crisis

Frederick M. Brown | Getty Images Entertainment | Getty Images

The Greek edition of the Mickey Mouse magazine has become the latest victim of the country's economic crisis after its publisher announced that it would halt the publication after 47 years.

Publisher Christos Terzopoulos took to Facebook to announce the closure, citing the tough economic conditions in Greece as a reason for shutting the publication.

"Some things like the recent government reshuffle, the devaluation of the currency and the closure of a newspaper or magazine is not announced in advance," Terzopoulos wrote in his social media message which was cited by various Greek news websites.

First published by Nea Aktina in July 1966, he said stopping the magazine was not a "frivolous and sudden choice," adding that the publisher had attempted for several months to find a viable solution for the magazine.

(Read more: Saudi Prince Spends Nearly $20 Million for Three Days in Disneyland)

"Until the last moment we kept the spark alive that we could continue publishing the magazine," Terzopoulos said. "But you must know with certainty that halting the creation of a lifetime (almost 48 years) is not an act that has not been very emotional," he said.

He said he could not elaborate further on issue due to the confidentiality of the negotiations over the closure though he added a glimmer of hope that the publisher could resurrect Mickey Mouse when economic conditions were "favorable" again.

(Read more: Greece faces September funding gap: Report)

Mickey Mouse is not the only cultural asset to have come under the axe in Greece, a country struggling through its sixth year of recession, burdened with debt and high unemployment as the government tries to implement tough reforms required by its international lenders.

Earlier this year, the government tried to shut down its state-run TV and radio stations as part of austerity measures but protests from workers and the public forced the government to retreat only a week later.

- By CNBC's Holly Ellyatt, follow her on Twitter @HollyEllyatt