In a newly released memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on that chaotic period during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, Tsipras appointed that maverick academic Yanis Varoufakis as his treasury head mainly because of the latter's worldwide fame along with his very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more of a star rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal motives which included promoting Varoufakis's publications as well as testing out his economic models on the nation rather than truly fighting for its financial survival.
He explained how the talks to prevent bankruptcy were “not just a method to secure improved terms for the country. They were a test, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay not only the country's destiny and those punishing cutbacks demanded in exchange for bailout funds by international creditors.
Failed Options
Efforts to find funds elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the punitive conditions were subjected to a popular referendum, a move which threw Europe into a further existential crisis.
Even though the referendum was carried decisively by those who opposed the cuts, Tsipras was forced to ignore the result and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan that included creating a parallel currency as well as issuing coupons to pensioners, Tsipras knew that it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate management.”
He also wrote that his confrontational style left him increasingly isolated among peers, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
This retelling of history has provoked anger and shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
