Within his freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on the chaotic era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's recollections, he selected the unorthodox economist Yanis Varoufakis as the treasury head mainly because of the latter's worldwide fame along with his “extremely attractive” skills as a speaker.
“He was, truthfully, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief had his own motives that involved promoting Varoufakis's books as well as testing out his theories using Greece rather than truly advocating its economic stability.
Tsipras wrote that those discussions to stave off insolvency were “not just a method of achieving improved terms for Greece. They were an experiment, an historic chance to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid tense negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line lay not only Greece's destiny and those harsh austerity policies required in return for financial aid from international creditors.
Failed Options
Attempts to find financing from other sources, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, an action which threw Europe into further existential crisis.
Although the vote was won resoundingly by those who opposed austerity, the prime minister was forced but to ignore the result then negotiate a rescue deal from creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included creating a parallel currency and issuing coupons to pensioners, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement that required intricate and delicate management.”
Tsipras also wrote that his aggressive approach made him more and more alone with colleagues, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
The retelling of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
