In a newly released memoir, named Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on the turbulent era during Greece's economic turmoil.
A Controversial Choice
In Tsipras's version, he selected that maverick economist Yanis Varoufakis to be his treasury head largely due to his international reputation and Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, truthfully, more like a personality and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims that his finance chief had his own motives which included promoting Varoufakis's publications as well as testing out his own economic models on the nation rather than genuinely fighting for its financial survival.
He wrote that the talks to avoid bankruptcy were “not just a method to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
During tense negotiations, the country came perilously close to leaving the single currency area.
On the line lay both Greece's future but also those harsh cutbacks required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, the excoriating conditions were put to a public vote, an action which plunged the EU into further existential crisis.
Although the vote was carried resoundingly by voters against austerity, the prime minister was forced but to reject its outcome and negotiate a bailout package from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, the leader knew it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts that his former ally had proved himself to be “unsuitable for a deal demanding complex and delicate management.”
Tsipras further claimed how Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
