In a freshly published personal account, named Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on that turbulent period of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, he selected the unorthodox economist Yanis Varoufakis as his finance minister mainly because of the latter's global profile along with his very persuasive skills when it came to speaker.
“In reality, he was, in reality, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own agenda which involved advancing Varoufakis's books as well as testing out his own theories on the nation rather than truly fighting for the country's financial survival.
Tsipras noted that the talks to prevent bankruptcy became “not only a way to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line was both Greece's future but also those punishing austerity measures required in exchange for financial aid from foreign lenders.
Failed Options
Attempts to find financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum and Reversal
That summer, those punitive bailout terms were subjected to a public vote, an action which threw Europe into a deeper existential crisis.
Although the referendum was won decisively by voters who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency and distributing vouchers to retirees, the leader said he realised it was game over and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further wrote that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
The retelling of history has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
