Within his newly released personal account, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches as he revisits the turbulent period of Greece's debt drama.
A Controversial Choice
In the ex-PM's account, Tsipras appointed the maverick academic Yanis Varoufakis to be his treasury head largely due to the latter's global profile and his highly compelling skills as a speaker.
“He was, truthfully, more of a star and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief possessed his own agenda which included advancing his books as well as testing out his own economic models using the nation instead of truly fighting for the country's financial survival.
He explained how those negotiations to prevent bankruptcy became “not just a method to secure a better deal for the country. They became an experiment, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid tense negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line lay both the country's future but also the severe austerity measures required in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, a move which threw Europe into a deeper crisis of identity.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome then negotiate a bailout package from creditors which turned out to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally had proved himself “unfit for an agreement that required intricate and sensitive management.”
He also wrote how his confrontational style made him more and more alone among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has been met with anger along with shock in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
