Within his freshly published personal account, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he revisits the turbulent period during Greece's debt drama.
A Controversial Appointment
As per Tsipras's recollections, he chose that unorthodox academic Yanis Varoufakis to be his treasury head mainly because of the latter's international reputation along with Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, actually, more of a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader suggests that his finance chief had a personal motives that included advancing his books as well as experimenting with his theories using the nation rather than genuinely advocating its economic stability.
Tsipras noted how the talks to avoid bankruptcy became “not only a method of achieving improved terms for the country. They became an experiment, a monumental chance to prove the truth of his ideas.”
Critical Talks
Amid tense negotiations, Greece came dangerously close to leaving the single currency area.
At stake was both Greece's future and those harsh austerity measures required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, an action which plunged Europe into a further crisis of identity.
Although the vote was won resoundingly by voters against austerity, Tsipras had little option but to reject its outcome and agree to a rescue deal from foreign lenders which turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a secondary currency and issuing vouchers to retirees, the leader said he realised that it was the end and asked him: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself “unsuitable for a deal that required complex and delicate management.”
He also wrote that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
