In a freshly published memoir, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines that turbulent era of Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, he chose that unorthodox academic Yanis Varoufakis as his treasury head mainly because of his international reputation along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, in reality, more of a star and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis had a personal agenda that included promoting Varoufakis's books and testing out his theories using the nation rather than genuinely advocating the country's financial survival.
He wrote that those talks to avoid bankruptcy were “not only a method to secure a better deal for the country. They became a test, a monumental chance to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster negotiations, Greece came dangerously close to exiting the single currency area.
On the line was not only Greece's future and those harsh austerity measures demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those punitive bailout terms were put to a popular referendum, an action which plunged the EU into deeper existential crisis.
Even though the vote was won decisively by voters who opposed austerity, the prime minister was forced but to ignore the result then agree to a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan that included creating a parallel currency and issuing vouchers to retirees, the leader knew it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
He further claimed that his aggressive style made him increasingly isolated with colleagues, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This account of history has been met with fury and shock in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
