In a freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines the chaotic period of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, Tsipras selected the unorthodox economist Yanis Varoufakis as the finance minister mainly due to his worldwide fame along with Varoufakis's very persuasive skills as a communicator.
“In reality, he was, in reality, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras claims how his finance chief possessed his own agenda which involved advancing his books and experimenting with his own economic models on the nation rather than truly fighting for its financial survival.
Tsipras noted how the negotiations to prevent bankruptcy were “not only a way of achieving improved terms for the country. They were an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense discussions, the country came dangerously close to exiting the single currency area.
On the line lay not only the country's destiny but also the severe cutbacks required in return for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were subjected to a popular referendum, a move which threw the EU into a deeper crisis of identity.
Although the referendum was carried decisively by those against the cuts, Tsipras had little option to ignore the result then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who attracted media attention, who graced the covers of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and delicate handling.”
Tsipras also wrote how his confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hardliners that were pushing for Grexit.
The retelling of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
