Within his recently unveiled personal account, titled Ithaki, the former premier Alexis Tsipras pulls no punches while he revisits that turbulent era of Greece's debt drama.
A Controversial Choice
As per Tsipras's version, he chose that unorthodox economist Yanis Varoufakis to be his treasury head primarily due to his international reputation along with his very persuasive abilities as a communicator.
“He was, in reality, more like a personality rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis possessed his own agenda which included advancing Varoufakis's publications and experimenting with his own economic models on the nation rather than truly fighting for its financial survival.
He explained how those discussions to avoid bankruptcy were “not only a method to secure a better deal for Greece. They became a test, an historic opportunity to demonstrate the truth of his theories.”
Critical Talks
During volatile negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line was both the country's future but also those severe austerity policies required in return for rescue loans from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating conditions were put to a public vote, a move which threw the EU into further existential crisis.
Even though the vote was won resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome and agree to a bailout package with creditors that proved to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
He further wrote that his confrontational approach made him more and more alone among peers, endangered the country, while assisted hardliners that were advocating Grexit.
The retelling of history has been met with anger and stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
