In a freshly published autobiography, called Ithaki, the former leader Alexis Tsipras does not hold back while he revisits the chaotic era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, Tsipras appointed that unorthodox academic Yanis Varoufakis to be his treasury head largely because of his international reputation along with Varoufakis's very persuasive abilities when it came to speaker.
“He was, truthfully, more like a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader claims how his finance chief possessed his own motives that involved advancing Varoufakis's books as well as testing out his own game theories on Greece rather than truly fighting for its economic stability.
Tsipras noted how the discussions to stave off bankruptcy were “not just a method to secure improved terms for the country. They became an experiment, a monumental chance to demonstrate the truth of his economic theories.”
Critical Talks
During volatile negotiations, Greece came dangerously close to leaving the eurozone.
At stake was both the country's future but also those severe austerity measures demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh conditions were subjected to a public vote, an action that plunged Europe into deeper existential crisis.
Although the vote was won decisively by those who opposed the cuts, Tsipras had little option but to ignore the result then negotiate a rescue deal from creditors which proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He further wrote that his aggressive style left him increasingly isolated among peers, put Greece at risk, and helped hawks that were pushing for Grexit.
This account of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
