This paper examines the effects of the financial crisis and the economic downturn on women. Its starting premise is that economic phenomena are always gendered in their nature as well as in their consequences; that they impact on specific (both visible and invisible) aspects in the lives of women and men, and that in order to evaluate their effects meaningfully, one needs to move beyond the obvious labour market effects and delve deeper into the spheres of the family, the disposable income for consumption, the use of services as well as the provision of care. The focus in the analysis is on Greece, while the main question addressed is whether women are facing greater economic adversity during the crisis due to their increased vulnerability in the labour market and social protection systems.