Greek Exit From Bailout Program: Former Prime Minister Defends Legacy
Athens, Greece – Former Greek Prime Minister Alexis Tsipras is defending his legacy, particularly his controversial decision to hold a nationwide referendum amid a financial crisis in 2015. Now serving as a member of parliament for the leftist SYRIZA party, Tsipras is pushing back against criticism regarding Greece’s handling of the economic bailout programs imposed by international creditors.
The debate was reignited following the release of former German Chancellor Angela Merkel’s memoirs, offering her insights into the tense negotiations that played out during Greece’s debt crisis.
Tsipras, speaking at an economic conference, credited SYRIZA with successfully leading Greece out of the bailout program – a feat, he maintains, that seemed incredibly unlikely just a few years prior.
"SYRIZA, despite the challenges, succeeded in getting Greece out of the bailout programs – something far from certain in 2014 or even 2015," Tsipras stated.
The former Prime Minister forcefully refuted claims that the previous government led by Antonis Samaras was close to fulfilling Greece’s commitments to creditors. Citing a conversation with Merkel, Tsipras said, “"The fifth review includes 14 reforms, and Samaras did only one."
Further criticizing Samaras’ administration, Tsipras labeled their proposed exit strategy as a "false exit."
Tsipras also stands firmly behind the 2015 referendum, a pivotal moment that, according to him, ultimately led to the restructuring of Greece’s debt.
“There is no bigger myth,” Tsipras asserted, addressing accusations that the referendum was a political maneuver or a ploy to abandon the Eurozone. While acknowledging that some cabinet members considered an alternative path, he emphasized, “"There was no Plan B; it was always about fighting for an honorable compromise.”
Despite the referendum’s outcome, where a majority of Greeks voted against the creditors’ terms, Tsipras ultimately signed the very measures he had campaigned against, a decision known as "kolotoumba" or "somersault" in Greek.
Tsipras argues that the third bailout agreement, though demanding, was significantly less burdensome on Greece, costing €8.4 billion compared to the €57 billion of the previous programs.
“I have never claimed that I or my government was flawless,” Tsipras conceded. “But the fact remains that Greece left the aid programs under SYRIZA’s rule. As Merkel said in her memoirs, ‘Greece was saved in 2018.’”
This debate highlights the complexities of Greece’s journey through its financial crisis, a story with repercussions felt across the European Union.
