Within his newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on the turbulent era of Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's version, he appointed the maverick academic Yanis Varoufakis to be the treasury head largely because of his international reputation and Varoufakis's highly compelling skills when it came to public orator.
“He was, in reality, more of a celebrity and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader suggests that his finance chief had a personal agenda which involved promoting Varoufakis's publications and experimenting with his theories on Greece rather than truly advocating its economic stability.
Tsipras noted how those negotiations to prevent insolvency were “not only a way to secure a better deal for Greece. They became a test, a monumental chance to demonstrate the truth of his ideas.”
High-Stakes Negotiations
During volatile negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line was both the country's destiny but also the severe austerity policies required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, an action that threw Europe into a further crisis of identity.
Although the vote was carried resoundingly by voters against the cuts, Tsipras had little option but to reject its outcome then negotiate a bailout package with foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan that included creating a parallel currency and distributing coupons to pensioners, the leader knew that it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the book, the author concludes that his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive management.”
He further claimed how his aggressive style left him increasingly isolated among peers, endangered the country, and assisted hardliners that were advocating Grexit.
This account of history has provoked anger and shock in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
