In a newly released autobiography, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches while he examines that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, he selected that unorthodox academic Yanis Varoufakis to be his treasury head largely due to his global profile and Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own motives that involved advancing his books as well as experimenting with his own game theories using the nation instead of truly advocating its financial survival.
Tsipras explained that those talks to prevent bankruptcy became “not only a method to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself dangerously close to leaving the single currency area.
At stake was both the country's future but also the punishing austerity policies required in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum and Reversal
That summer, the excoriating conditions were put to a public vote, a move which threw the EU into a further crisis of identity.
Even though the referendum was carried decisively by voters against austerity, the prime minister had little option to reject its outcome then negotiate a bailout package from creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement that required intricate and delicate handling.”
Tsipras also wrote that his aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were advocating Grexit.
The account of history has provoked anger and shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
