In a newly released autobiography, named Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, he appointed that unorthodox economist Yanis Varoufakis as his treasury head primarily because of the latter's global profile along with his highly compelling abilities as a speaker.
“In reality, he was, in reality, more of a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests that his finance chief had a personal motives that involved promoting Varoufakis's books as well as experimenting with his theories using Greece rather than truly fighting for its financial survival.
He wrote how those discussions to stave off bankruptcy became “not just a way of achieving improved terms for the country. They were an experiment, an historic opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came perilously on the brink of leaving the eurozone.
On the line was not only the country's future but also the severe austerity measures demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a public vote, an action that threw Europe into a deeper existential crisis.
Even though the referendum was won decisively by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a contingency plan involving creating a parallel currency and distributing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”
He also claimed how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hawks that were pushing for Grexit.
The retelling of history has been met with fury and stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
