Within his newly released personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on the chaotic era of Greece's debt drama.
An Unconventional Choice
In the ex-PM's version, he appointed the unorthodox academic Yanis Varoufakis to be his treasury head mainly because of his global profile and Varoufakis's very persuasive abilities as a communicator.
“In reality, he was, truthfully, more like a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis possessed a personal motives which involved promoting Varoufakis's publications as well as testing out his own theories on Greece rather than truly advocating the country's economic stability.
He noted how the talks to avoid insolvency became “not only a method to secure improved terms for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, Greece found itself perilously close to leaving the eurozone.
On the line was both the country's future but also those punishing cutbacks demanded in return for financial aid from international creditors.
Failed Alternatives
Attempts to find funds elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were put to a popular referendum, a move which plunged the EU into deeper existential crisis.
Even though the referendum was carried decisively by those against austerity, Tsipras was forced to reject its outcome then negotiate a rescue deal with foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan that included creating a parallel currency and issuing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
He also claimed that his confrontational approach made him increasingly isolated among peers, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The account of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
