In December 2014, shortly before the general elections were called, the current Prime Minister believed that his party’s imminent electoral win would pave the way for a shift the framework of economic policy.

He deeply believed that the European partners and official European bodies would allow his government to implement its program and address other priorities, beyond those outlined in the bailout agreements.

The Prime Minister also hoped that the European Central Bank would not restrict funding in case Greece challenged in practice the agreements that had been signed with the partners and creditors.

His certainty was such, that he almost dismissive of everyone who warned him that Mario Draghi would almost automatically restrict liquidity. “But how can you say that, so many countries participate in the European Central Bank” he characteristically said, revealing his ignorance and the deception that accompanied him.

The future Prime Minister ignored the fact that the European Central Bank operates based on rules and principles that not even its governing board can violate.

His lack of understanding the circumstances during that period was visible to the naked eye.

This became apparent when he and his party took over governing the country.

If the Prime Minister had realized the threat of bankruptcy and degree of the country’s dependence on funding from abroad, he would have rushed to complete the fifth review that Antonis Samaras left half-finished in February 2015.

If he had accepted the framework of the outstanding negotiation at the time, the Greek economy would have secured stability and easy funding.

Due to his ignorance and inability to understand the dangers, he chose the well-know course that had a major cost and continues to have a major cost.

It took almost 18 months for the Prime Minister and his government to reach the starting point of his governance.

An independent and unbiased observer would not hesitate to document that everything that occurred in the past 18 months and accumulated a huge cost amounted to a drop in the ocean!

Antonis Karakousis

Originally published in the Sunday print edition