In a recently unveiled memoir, called Ithaki, the former prime minister Alexis Tsipras does not hold back while he revisits the turbulent period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, he appointed that maverick economist Yanis Varoufakis as the treasury head primarily because of the latter's worldwide fame along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, in reality, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief possessed a personal agenda that involved advancing Varoufakis's books and experimenting with his game theories on the nation rather than truly fighting for its financial survival.
Tsipras explained how the talks to avoid insolvency became “not just a method to secure a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid volatile discussions, the country came dangerously on the brink of exiting the eurozone.
On the line was not only the country's destiny but also those severe austerity measures required in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, a move which plunged the EU into a further existential crisis.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the front pages of publications globally … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency as well as issuing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive management.”
Tsipras also wrote how his confrontational approach left him more and more alone among peers, put Greece at risk, while assisted hardliners who were pushing for Grexit.
This retelling of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
