In a newly released autobiography, called Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on the chaotic era of Greece's debt drama.
A Controversial Choice
According to Tsipras's version, Tsipras appointed that unorthodox economist Yanis Varoufakis as his treasury head largely due to his global profile and Varoufakis's highly compelling skills as a communicator.
“He was, actually, more of a personality and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis possessed a personal agenda which included advancing his books as well as testing out his theories on the nation instead of truly advocating its economic stability.
He wrote how those talks to prevent insolvency became “not just a method of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of his economic theories.”
Critical Negotiations
During volatile negotiations, Greece found itself dangerously close to leaving the eurozone.
On the line lay both Greece's destiny but also those harsh cutbacks required in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were put to a popular referendum, a move that plunged the EU into a deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister had little option to reject its outcome then agree to a bailout package from creditors that proved to be tougher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts how Varoufakis had proved himself to be “unfit for an agreement demanding complex and delicate handling.”
Tsipras further claimed that his confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
This account of events has been met with anger along with shock among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
