Within his freshly published personal account, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on that turbulent era of Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, Tsipras chose the maverick economist Yanis Varoufakis as the finance minister primarily because of the latter's worldwide fame along with Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis had a personal agenda which included advancing Varoufakis's books and testing out his own theories on the nation rather than genuinely fighting for its financial survival.
Tsipras explained how the negotiations to prevent bankruptcy became “not only a method to secure a better deal for Greece. They were a test, an historic chance to prove the truth of his theories.”
Critical Negotiations
During tense negotiations, Greece came perilously close to leaving the eurozone.
At stake was not only Greece's destiny but also those severe cutbacks required in return for bailout funds from foreign lenders.
Failed Options
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, a move that threw Europe into a further existential crisis.
Even though the referendum was carried decisively by those against the cuts, Tsipras had little option but to ignore the result and agree to a bailout package with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy involving establishing a parallel currency and issuing coupons to pensioners, Tsipras knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
Tsipras also wrote that his aggressive approach made him increasingly isolated among peers, put Greece at risk, and helped hawks that were advocating Grexit.
This retelling of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
