Within his recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on that turbulent era of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's version, Tsipras appointed the maverick academic Yanis Varoufakis to be the treasury head mainly because of the latter's global profile along with his very persuasive skills when it came to public orator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis possessed a personal motives which included promoting Varoufakis's books and testing out his own game theories on Greece rather than truly advocating the country's financial survival.
Tsipras noted how those negotiations to prevent bankruptcy were “not just a way of achieving improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
During volatile negotiations, Greece came perilously close to leaving the single currency area.
At stake was both Greece's destiny and the harsh cutbacks demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those excoriating conditions were subjected to a public vote, a move which threw the EU into further existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing coupons to retirees, the leader said he realised it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, the author asserts that Varoufakis demonstrated himself to be “unfit for a deal that required complex and delicate management.”
He further claimed how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
This retelling of history has provoked anger and stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
