Within his newly released autobiography, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines that turbulent era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras chose the unorthodox academic Yanis Varoufakis to be his treasury head primarily due to the latter's worldwide fame and Varoufakis's highly compelling abilities as a public orator.
“He was, actually, more like a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests how his finance chief possessed his own agenda which involved advancing his publications and experimenting with his game theories on Greece rather than genuinely advocating the country's financial survival.
He explained that those discussions to stave off insolvency were “not only a method to secure a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During volatile negotiations, the country found itself dangerously on the brink of exiting the single currency area.
On the line was not only the country's destiny but also those severe austerity measures required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, those punitive conditions were put to a popular referendum, a move that threw Europe into a deeper crisis of identity.
Although the vote was won decisively by those against austerity, the prime minister was forced to ignore the result and negotiate a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan that included creating a parallel currency and distributing coupons to pensioners, Tsipras knew that it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author asserts how his former ally demonstrated himself “unfit for a deal that required complex and delicate handling.”
Tsipras further wrote that his confrontational approach left him more and more alone among peers, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The retelling of history has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
