In a recently unveiled autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras appointed the maverick economist Yanis Varoufakis to be the finance minister primarily due to his global profile and his very persuasive abilities as a public orator.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims how his finance chief possessed his own agenda that involved promoting Varoufakis's books and testing out his own game theories using the nation rather than truly fighting for the country's economic stability.
Tsipras noted how the negotiations to stave off bankruptcy were “not just a method to secure improved terms for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Negotiations
During tense discussions, the country found itself perilously close to exiting the single currency area.
On the line was not only the country's future and those severe austerity policies demanded in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action which plunged the EU into a further existential crisis.
Although the referendum was won resoundingly by those who opposed the cuts, the prime minister had little option to ignore the result then agree to a rescue deal from creditors which proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras concludes how his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
He also claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, and helped hawks that were pushing for Grexit.
The retelling of events has provoked fury and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
