As 2015 comes to an end, it is time to look back on one of the most turbulent periods of Greece’s recent history. A lot of damage was wreaked on the beleaguered country and no one can ignore that. The closure of the banks in the summer and the imposition of capital controls, as well as a series of tragic mistakes during negotiations with the country’s international lenders came at a heavy price that is not yet fully apparent.
There is nothing more dramatic than the tales of small and medium-sized businesses that were managing to hobble along until the capital controls were introduced and have since been unable to keep their heads above water.
The good thing is that Greece did not fall over the edge. It did not tumble into the abyss after the fateful referendum in July. But the reason is that its sense of self-preservation kicked in.
Greece has more important milestones to pass in 2016. When we get to them we must not forget the lessons of 2015, because there are some mistakes that should under no circumstances be allowed to be repeated.