In a recently unveiled memoir, called Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on that chaotic era of Greece's financial crisis.
A Controversial Choice
In the ex-PM's recollections, he appointed that unorthodox academic Yanis Varoufakis as his finance minister largely because of his worldwide fame along with his very persuasive skills when it came to speaker.
“In reality, he was, in reality, more of a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader suggests that Varoufakis possessed his own agenda which involved advancing his publications as well as experimenting with his own theories using Greece rather than genuinely advocating the country's financial survival.
Tsipras explained that the talks to stave off insolvency were “not only a way of achieving a better deal for Greece. They were an experiment, a monumental chance to prove the validity of his economic theories.”
Critical Talks
Amid volatile discussions, Greece came perilously close to leaving the single currency area.
At stake was both Greece's future and the severe austerity measures demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the harsh bailout terms were put to a public vote, a move that threw the EU into further crisis of identity.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras was forced to ignore the result and negotiate a rescue deal with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy that included establishing a parallel currency and issuing coupons to retirees, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Enduring Criticism
In the memoir, the author concludes that his former ally had proved himself “unfit for an agreement demanding complex and delicate handling.”
He further claimed how his aggressive approach left him increasingly isolated with colleagues, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
This account of history has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence on the matter.
