Within his recently unveiled personal account, titled Ithaki, the former leader Alexis Tsipras pulls no punches as he revisits the turbulent era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, Tsipras chose the maverick economist Yanis Varoufakis as his treasury head primarily because of the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, actually, more of a star and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis had a personal motives that involved advancing Varoufakis's publications as well as experimenting with his own theories using Greece instead of truly advocating its financial survival.
He wrote that the talks to avoid insolvency became “not just a method of achieving improved terms for Greece. They became a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster discussions, the country came perilously on the brink of leaving the single currency area.
On the line was not only the country's future but also the harsh austerity policies required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh conditions were put to a public vote, an action that plunged the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result then agree to a rescue deal with foreign lenders which proved to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of publications globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving establishing a parallel currency and distributing coupons to pensioners, Tsipras knew it was game over and asked him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally had proved himself “unfit for a deal demanding intricate and delicate management.”
Tsipras further wrote that his aggressive style left him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating Grexit.
This account of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
