In a recently unveiled autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he revisits that chaotic period during Greece's financial crisis.
A Controversial Appointment
In Tsipras's recollections, he selected that unorthodox academic Yanis Varoufakis as his finance minister mainly due to the latter's international reputation and Varoufakis's very persuasive abilities as a public orator.
“He was, in reality, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief possessed a personal motives that involved promoting his books as well as experimenting with his own economic models using the nation instead of truly fighting for its economic stability.
He wrote how the talks to stave off insolvency were “not only a method of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of his theories.”
Critical Negotiations
During volatile discussions, Greece came perilously on the brink of exiting the single currency area.
At stake lay both Greece's future and those harsh austerity measures demanded in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those punitive conditions were put to a public vote, a move which threw Europe into a further crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, Tsipras had little option but to ignore the result and agree to a rescue deal from creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the book, the author concludes how Varoufakis had proved himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also claimed that his confrontational approach made him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
