Within his newly released personal account, titled Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits that chaotic period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, he chose the unorthodox economist Yanis Varoufakis to be the finance minister mainly due to the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to speaker.
“He was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Conflicting Agendas
The former leader alleges that his finance chief possessed a personal motives which involved promoting Varoufakis's books as well as experimenting with his theories on Greece instead of truly fighting for its economic stability.
He explained that those negotiations to avoid bankruptcy became “not only a way to secure a better deal for the country. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During volatile negotiations, the country found itself dangerously close to leaving the single currency area.
At stake was both Greece's destiny and the punishing cutbacks demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that threw the EU into deeper existential crisis.
Although the referendum was carried decisively by voters against the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes how his former ally had proved himself to be “unfit for a deal demanding complex and sensitive handling.”
He further claimed that his aggressive approach made him more and more alone among peers, endangered the country, and helped hawks who were pushing for Grexit.
This retelling of history has been met with fury along with shock in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
