In a newly released autobiography, titled Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis as the finance minister primarily due to the latter's international reputation and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges that his finance chief possessed a personal agenda that included advancing Varoufakis's books as well as experimenting with his own theories using Greece instead of genuinely fighting for its financial survival.
Tsipras noted how those negotiations to stave off bankruptcy became “not just a way to secure a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
During volatile negotiations, Greece found itself perilously on the brink of leaving the single currency area.
On the line lay both the country's future but also the harsh austerity measures required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the harsh conditions were put to a popular referendum, a move which threw Europe into further crisis of identity.
Even though the referendum was won decisively by voters who opposed austerity, the prime minister had little option to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, Tsipras knew it was game over questioning him: “Can you be serious?”
Enduring Criticism
In the book, the author concludes that his former ally demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
Tsipras further wrote that his aggressive style made him increasingly isolated among peers, endangered the country, while assisted hawks that were advocating Grexit.
The retelling of history has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
