In a freshly published personal account, called Ithaki, the former prime minister Alexis Tsipras pulls no punches as he revisits that turbulent period of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, Tsipras chose the unorthodox academic Yanis Varoufakis as his treasury head primarily due to his worldwide fame and his very persuasive skills when it came to communicator.
“He was, truthfully, more of a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis possessed a personal agenda which involved promoting his books as well as testing out his game theories using the nation rather than genuinely fighting for its economic stability.
He wrote that those negotiations to stave off insolvency became “not just a way of achieving improved terms for the country. They were a test, an historic chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During tense negotiations, the country came dangerously close to leaving the single currency area.
At stake lay both Greece's future and the harsh austerity policies required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were put to a public vote, an action that threw Europe into a further existential crisis.
Even though the referendum was carried decisively by those against the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader knew that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for a deal demanding intricate and sensitive management.”
He also claimed how Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating Grexit.
This account of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
