In a freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines that turbulent period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras chose that unorthodox economist Yanis Varoufakis as the treasury head mainly due to the latter's international reputation along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more like a personality and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis possessed his own motives that included advancing his books and testing out his game theories on Greece rather than truly advocating the country's financial survival.
Tsipras noted how the talks to avoid bankruptcy became “not only a way of achieving a better deal for Greece. They became an experiment, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During rollercoaster discussions, Greece came perilously close to exiting the eurozone.
At stake lay not only the country's destiny and those punishing austerity policies required in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the excoriating bailout terms were put to a public vote, an action that threw Europe into a further crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, Tsipras had little option but to reject its outcome and agree to a bailout package with creditors that proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing coupons to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
He further claimed that his aggressive style made him increasingly isolated among peers, put Greece at risk, while helped hawks that were advocating Grexit.
The retelling of history has provoked fury and shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
