In a freshly published autobiography, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines that turbulent period during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras chose the unorthodox economist Yanis Varoufakis to be his finance minister largely due to the latter's worldwide fame and his “extremely attractive” abilities as a public orator.
“He was, truthfully, more like a celebrity and less of an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader claims how Varoufakis had a personal motives which involved promoting his publications and testing out his economic models on Greece instead of truly advocating its economic stability.
He wrote how those talks to avoid bankruptcy became “not only a way of achieving improved terms for the country. They became an experiment, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster discussions, the country found itself perilously close to exiting the eurozone.
At stake was not only the country's destiny and those harsh cutbacks demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action which threw Europe into a further existential crisis.
Even though the referendum was carried resoundingly by those against austerity, Tsipras was forced to ignore the result then negotiate a bailout package with creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who drew publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy involving creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts how his former ally demonstrated himself “unfit for a deal that required complex and sensitive management.”
He further wrote that his aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
The retelling of history has been met with anger along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
