The aim of this paper is to clarify all the ways in which a crisis can affect a recession in one country. There are various forms of crisis situations that are very likely to affect the social and economic situation of a country. In order to better understand the concept of recession, we must first understand what causes a recession. A recession occurs with the emergence of market instability, and an unstable market causes poor financial management. In today's time of globalization and related markets, the constant development of technologies, the availability of information, speed of business changes that market participants face in business leads to uncertainty and risky business. Making bad business and political decisions leads to crisis situations whose consequences are difficult and longlasting to correct. Although the occurrence and duration of the crisis are unpredictable, there are various external and internal indicators that indicate its possible arrival. Good financial and political governance, as well as responsible financial oversight, greatly reduce the possibility of a recession in one country. Based on the analysis of the crisis situation in Greece, we can see how hard and even irreparable consequences of the recession can be on one country and its entire population. A set of bad political decisions, high borrowing, and the recession in the U.S. that has begun to spread globally has led Greece to financial collapse.