Within his newly released autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he revisits the turbulent period of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis to be the treasury head mainly due to his international reputation along with his highly compelling abilities when it came to speaker.
“He was, truthfully, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis had a personal agenda that included advancing his books as well as testing out his own game theories on the nation rather than truly advocating its economic stability.
He noted how those discussions to prevent insolvency became “not only a method of achieving a better deal for Greece. They became a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself dangerously on the brink of exiting the eurozone.
At stake was not only the country's future and those harsh austerity measures required in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, an action which threw the EU into a further existential crisis.
Even though the referendum was carried resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome then agree to a rescue deal with foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy that included establishing a parallel currency as well as issuing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes that Varoufakis had proved himself to be “unfit for an agreement demanding intricate and delicate handling.”
He further wrote that his aggressive style left him increasingly isolated among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of events has been met with fury along with shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
