Thursday, August 20, 2015

Mr Tsipras’ sufferings are a lesson for everyone

Το Βήμα Online Sunday, August 09, 2015

Deceptions, myths and hopes have collapsed since the elections.

In the seven months that followed, the Greek people experienced a lot.

At first, after the elections, the enthusiasm of change and the expectation of a different policy dominated.

Quickly though, especially after Yanis Varoufakis' first public antics, doubts began to emerge.

Again though, the dominant compulsions prevailed and imposed a foolish line of negotiating until the end.

The prevailing belief within the government was the Europeans could not endure with a possible rift within the Eurozone and would therefore back down in the end.

In the meantime, since February, the Greek economy began experiencing the problem of limited liquidity and living in a state of restricted funding sources.

As the Tsipras government played the delay game, Mr Draghi's European Central Bank tightened the grip on liquidity.

Around the start of Spring and with an impending impasse looming, dangerous plans were being developed for a parallel currency by the former Minister of Finances, and the more advanced return to the drachma by the Left Platform.

By the end of June the government systematically played this dangerous delay game, leaving the economy fully exposed, while constantly losing power and options.

Ultimately the doomsday scenarios prevailed, the outflow of deposits turned into an avalanche and when the talks broke off and the referendum was announced everything spiralled out of control.

By removing the protection provided by our participation in the European program, the possibility of a disorderly bankruptcy emerged, capital controls were introduced and the possibility of leaving the Eurozone was directly addressed.

The full extent of the impasse was revealed at the summit. Under the weight of the unbearable consequences of the looming necessary return to the drachma, in the final hour the Prime Minister decided to make a big turn and full assume the responsibility and cost of remaining in the Eurozone.

Now the government is anxiously awaiting the third bailout, offering guarantees of its faithful implementation and preparing for a crucial party conference as well as elections.

Nobody could imagine such a crazy turn of events in six months.

However, it was six months of revealing the truth and fully understanding the Greek problem.

Ultimately the delusions ended along with a harsh return to reality.

Let us assume, that the lesson has been learned by everyone, the parties and the people.

Antonis Karakousis

Originally published in the Sunday print edition

Mr. Tsipras’ sufferings are a lesson for everyone - Το Βήμα Online