In a newly released autobiography, titled Ithaki, the former leader Alexis Tsipras pulls no punches while he revisits the turbulent period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's account, Tsipras selected the maverick academic Yanis Varoufakis to be the finance minister mainly due to the latter's international reputation along with his very persuasive skills when it came to speaker.
“In reality, he was, truthfully, more of a star rather than an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own motives that involved advancing Varoufakis's publications and testing out his theories on Greece instead of genuinely fighting for its economic stability.
He noted how those talks to prevent insolvency became “not just a method to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece came perilously on the brink of leaving the eurozone.
At stake lay not only Greece's destiny and those severe austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, a move that plunged Europe into a further crisis of identity.
Even though the referendum was carried resoundingly by those against austerity, Tsipras was forced but to ignore the result and negotiate a rescue deal with creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy that included creating a secondary currency and distributing vouchers to retirees, the leader said he realised it was game over and asked him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes how his former ally had proved himself to be “unfit for a deal that required complex and sensitive management.”
Tsipras also wrote how his aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
The retelling of history has been met with anger along with shock in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
