Elli was a 2,600 ton Greek protected cruiser named for a naval battle of the First Balkan War in which Greece was victorious. She was completed in 1913 and commissioned in 1914. Elli saw action during World War I and in the disastrous Asia Minor Expedition. An Italian submarine sank her, before the outbreak of the Greco-Italian War on 15 August 1940 while she sat at anchor.

The Italian submarine Delfino sank her during peacetime, at 8:25 am on 15 August 1940, while she rode at anchor near the island of Tinos. Elli was in Tinos participating in the celebrations of the Feast of the Dormition of the Theotokos. One of the three torpedoes fired hit Elli under the one operating boiler and she caught fire and sank. Nine petty officers and sailors were killed and 24 were wounded. The same submarine attempted to torpedo the passenger ships MV Elsi and MV Esperos anchored in the port. This attempt failed and the torpedoes damaged only a section of the port's wharf.

Fragments of the torpedoes were recovered and identified as Italian in origin. The Greek government however, trying to avoid a confrontation with Italy at the time, announced that the nationality of the attacking submarine was unknown, an act that did not forestall the outbreak of the Greco-Italian War two months later, and did not convince the Greek people who were well aware of the perpetrator.

After the war, as compensation for the sinking of Elli, Italy gave Greece the cruiser Eugenio di Savoia.

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