In a newly released memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines the turbulent period of Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed the unorthodox academic Yanis Varoufakis as the finance minister largely due to his global profile along with Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, in reality, more of a celebrity and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis had a personal agenda which included promoting Varoufakis's books as well as testing out his own theories on the nation instead of truly advocating the country's economic stability.
Tsipras wrote that the talks to avoid bankruptcy became “not just a way of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid volatile negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was not only Greece's future and the severe cutbacks demanded in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, an action which plunged Europe into further crisis of identity.
Even though the vote was carried decisively by voters against the cuts, the prime minister had little option to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and delicate management.”
He further wrote that Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.
This retelling of history has provoked fury along with shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
