Within his freshly published memoir, named Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits the chaotic period of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, he chose the maverick economist Yanis Varoufakis as his finance minister primarily due to the latter's global profile along with his very persuasive abilities when it came to communicator.
“In reality, he was, actually, more like a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges that his finance chief had his own motives that involved promoting his books and experimenting with his own theories on the nation rather than truly advocating its economic stability.
He explained that the talks to prevent insolvency became “not only a way of achieving a better deal for the country. They were an experiment, an historic chance to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During tense discussions, Greece came perilously on the brink of leaving the eurozone.
On the line lay not only the country's destiny and the punishing austerity measures demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those harsh conditions were put to a public vote, a move which threw the EU into a deeper existential crisis.
Although the referendum was won resoundingly by voters against the cuts, Tsipras was forced to ignore the result and agree to a bailout package with foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a secondary currency as well as distributing coupons to retirees, the leader said he realised it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
He further claimed that his confrontational style made him increasingly isolated among peers, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
The account of history has provoked fury and shock in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.
