Within his recently unveiled memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he reflects on the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, Tsipras selected the maverick economist Yanis Varoufakis to be the treasury head mainly due to his global profile and Varoufakis's very persuasive skills when it came to communicator.
“He was, actually, more of a personality and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed his own motives which involved promoting his books and experimenting with his own game theories using Greece rather than truly fighting for the country's economic stability.
Tsipras wrote how the talks to avoid insolvency became “not just a method to secure a better deal for Greece. They became a test, an historic chance to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile discussions, the country came perilously close to leaving the eurozone.
At stake lay not only Greece's future and the severe cutbacks demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, including an urgent plea to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, a move which threw Europe into further crisis of identity.
Even though the vote was won decisively by voters who opposed austerity, Tsipras was forced to ignore the result then negotiate a rescue deal with creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy that included creating a parallel currency and issuing vouchers to retirees, the leader knew it was game over and asked him: “Is this for real?”
Lasting Criticism
In the memoir, the author asserts that his former ally demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
Tsipras further claimed that Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
This account of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
