This species is endemic to Europe, where it is restricted to Mt. Oiti in central Greece. The plant, although apparently thriving in its habitat, is Critically Endangered due to its very restricted distribution combined with existing and future habitat decline. Existing in only three pools, that experience natural seasonal fluctuations. Although the entire distribution of this species is within a National Park and Ramsar site, these protections do not appear to be effective in controlling threats to the habitat on which it depends. The species is assessed as Critically Endangered [CR B1ab(iii)+2ab(iii)] given the restricted extent of occurrence, area of occupancy, and inferred continuing decline as a result of siltation and grazing pressures.

This species is endemic to central Greece on Mt. Oiti (Sterea Ellada). It is known only from three small high elevation vernal pools (Livadies, Greveno and Alykaina) at 1,850 m and 1,950 m (base of Greveno Peak), at a distance of 900 m from each other, on opposite slopes (Delipetrou et al. 2015, Vasilatos et al. 2019). The whole population comprises three subpopulations at one location.

The plants are small, up to 5 cm. There is an inter-annual variation in the number of individuals, depending on the duration of winter and on the conditions during the drying up of the pools. The size of these fluctuations has not been studied over long periods, however, Delipetrou et al. (2015) studied the population over two years; they count6ed 16,975 in year 1 and 68,976 individuals in year 2, corresponding to a respective estimated total population size of 271,600 and 1,103,616 individuals.

This species grows in melt-water pools between an altitude of 1,850 and 1,950 m. The shallow pools, 5–15 cm deep, periodically inundate when the snow melts and dry up by the end of May. Veronica oetaea appears when water evaporation starts and the lake bottom becomes muddy. The first stage of plant succession in the pools includes Myosurus minimus followed by V. oetaea. Both plants complete their life cycle within two weeks and then disappear. Plant succession continuous with thick mats of Polygonum aviculare on the pulverised material of the lake bottom and with Corrigiola litoralis, Limosella aquatica, Lythrum thymifolia and Eleocharis palustris towards the peripheral zone.

Due to the prohibition of grazing applied since 1966, there is a gradual expansion of Abies cephalonica forest at the expense of the pastures neighbouring the area of Veronica oetaea. This process starts with pioneer colonisation by Juniperus communis ssp. alpina shrubs and may result in the loss of the habitat of V. oetaea. Also, erosion of the flysch soils of Greveno peak may result in the destruction of the small pool (less than 20 m² in size).

The area where the plant is recorded is managed by the Forestry Service as a National Park but ignorance results in measures incompatible with conservation objectives such as road construction very close to the habitat of V. oetaea. Moreover, there is quite frequent off-road vehicle traffic in the habitat of the plant.

Illegal grazing in the area of the plant is not necessarily a threat, but large cattle (Ox) may trample the plants and destroy them before seed set.

Currently, bauxite mining takes place at the periphery of the core of the National Park. However, these activities have been intensified and both further road construction and establishment of new extraction sites even within the core area of the National Park are possible since bauxite mining is considered a matter of national interest.

There is no information regarding the use and trade of this species.

Veronica oetaea is listed as priority species on Annex II of the Habitats Directive and under Appendix I of the Convention on the Conservation of European Wildlife and Natural Habitats (Bern Convention). It is protected in Greece by the Presidential Decree 67/81. All of its distribution area lies within the NATURA 2000 site GR2440004 and within the National Forest Park of Oiti and it was included in the Greece Red Data Book as Critically Endangered (Karetsos in: Phitos et al. 2009).

The species has been a focus of the EU LIFE project, ForOpenForests (LIFE11 NAT/GR/1014).