In a freshly published memoir, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he revisits the chaotic era during Greece's debt drama.
A Controversial Choice
In the ex-PM's account, he appointed the maverick academic Yanis Varoufakis as the treasury head mainly because of his worldwide fame along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, actually, more like a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief possessed a personal motives that involved promoting his books as well as experimenting with his own theories on the nation rather than genuinely advocating its economic stability.
He explained how those discussions to prevent 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 his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line was not only Greece's destiny but also the severe austerity policies required in return for financial aid by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh bailout terms were put to a public vote, a move that plunged Europe into further crisis of identity.
Even though the vote was carried resoundingly by voters against the cuts, the prime minister was forced but to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and delicate handling.”
He further claimed that his confrontational style made him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
This retelling of history has been met with anger and shock in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
