The appeal to international lending with high overcharging interests, political rivalry, and a series of costly infrastructure projects led Greece to the bankruptcy of 1893. Cease of all payments (state loans, salaries, and suppliers were not paid) forced the government of Charilaos Trikoupis to take a series of drastic measures and accept international economic control of the country.
Even though the phrase "unfortunately, we are bankrupt" seems to be fictional, as it is not mentioned in the minutes of the Parliament at the time, it made headlines and was attributed to the Prime Minister Charilaos Trikoupis. Charilaos Trikoupis made his mark in the political scene of Greece with his dreams about the development and prosperity of the country. These dreams he strived to achieve with the creation of large projects like the drying of the Kopaida lake, the railway network, the Korinthos Canal.