Within his freshly published autobiography, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he examines that turbulent era during Greece's debt drama.
A Controversial Appointment
In the ex-PM's recollections, Tsipras appointed the unorthodox economist Yanis Varoufakis to be the treasury head largely due to his international reputation along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, in reality, more of a personality and less of an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras claims how his finance chief possessed his own agenda which involved advancing his books as well as experimenting with his theories using Greece instead of truly advocating the country's financial survival.
Tsipras wrote that the negotiations to stave off insolvency were “not only a way to secure a better deal for Greece. They became a test, a monumental chance to prove the validity of his ideas.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's future and the punishing cutbacks demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were put to a public vote, an action which threw Europe into further existential crisis.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome then agree to a rescue deal with creditors which turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unfit for a deal that required complex and sensitive management.”
He further claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
