In a recently unveiled personal account, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he examines the turbulent period of Greece's debt drama.
An Unconventional Choice
In Tsipras's recollections, he selected the maverick economist Yanis Varoufakis to be his finance minister mainly due to the latter's worldwide fame along with Varoufakis's highly compelling abilities as a public orator.
“He was, in reality, more of a star rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had his own motives that involved advancing his books and testing out his theories using the nation rather than truly fighting for the country's financial survival.
Tsipras explained how the talks to prevent insolvency were “not just a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country came perilously close to exiting the single currency area.
At stake was not only the country's future and those harsh austerity measures required in exchange for financial aid by international creditors.
Failed Options
Attempts to find financing from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, an action that threw the EU into a further existential crisis.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to ignore the result and agree to a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end and asked him: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras asserts how his former ally demonstrated himself “unfit for a deal demanding intricate and delicate handling.”
Tsipras also claimed that Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, and helped hardliners who were advocating Grexit.
The account of history has provoked anger along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
