In a recently unveiled memoir, named Ithaki, the former leader Alexis Tsipras pulls no punches while he examines that turbulent era during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's recollections, he chose the maverick economist Yanis Varoufakis to be his treasury head largely due to the latter's worldwide fame along with his very persuasive abilities when it came to communicator.
“He was, in reality, more of a star and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis had a personal motives which involved advancing Varoufakis's books as well as experimenting with his own game theories on Greece instead of truly fighting for its economic stability.
Tsipras wrote how the talks to stave off bankruptcy were “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid tense negotiations, the country came perilously close to exiting the single currency area.
On the line lay both Greece's destiny but also the harsh cutbacks demanded in exchange for bailout funds by international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, an action which plunged Europe into further existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency and issuing coupons to retirees, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
Tsipras also claimed how his aggressive approach left him more and more alone among peers, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
The retelling of history has been met with fury along with shock in some quarters, while the former minister has maintained a deafening silence on the matter.
