Within his recently unveiled memoir, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he reflects on the chaotic period during Greece's debt drama.
A Controversial Choice
In Tsipras's version, he chose the unorthodox economist Yanis Varoufakis as the treasury head mainly because of his worldwide fame along with Varoufakis's “extremely attractive” abilities as a communicator.
“He was, in reality, more of a personality rather than an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis had a personal motives which included advancing his books and experimenting with his theories using the nation instead of truly advocating the country's economic stability.
He noted how those negotiations to stave off insolvency were “not only a method of achieving improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid tense negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line lay both Greece's future and those harsh austerity policies demanded in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, an action that plunged Europe into further existential crisis.
Even though the referendum was won decisively by those against the cuts, the prime minister had little option to ignore the result and agree to a rescue deal with foreign lenders which turned out to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, Tsipras knew it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
Tsipras further claimed how Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, while assisted hardliners that were advocating Grexit.
The retelling of history has been met with anger along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence on the matter.
