This study explores the utility of the Early Development Instrument (EDI) as a population-based measure of school readiness in Crete, Greece, during times of economic austerity. It is unique in that no similar investigation examining school readiness for grade one has been conducted in this country. More specifically, it identifies kindergarten children who are vulnerable (fail to meet age-appropriate developmental expectations), at risk (not in the vulnerable range, but still score lower than expected for their age), and on track (all others) for success in grade one. It also investigates demographic factors associated with children's higher odds of vulnerability. Participants include 954 children (mean: 5.7 years) from 63 kindergarten schools. Results demonstrate that 26.4% of the sample are developmentally vulnerable, 27.5% are at risk, and 46.1% are on track. Additionally, children with special needs vs. those without, males vs. females, younger vs. older cohorts, and those in rural vs. urban areas are associated with higher odds of developmental vulnerability. This study shows that the EDI can be an effective tool to help guide Greek policy development in early childhood education and care, inform key programming decisions, and introduce timely interventions that will help improve vulnerable children's chances for school success.