In a recently unveiled memoir, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on that turbulent period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, Tsipras chose that unorthodox academic Yanis Varoufakis to be his treasury head mainly because of the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader claims that his finance chief possessed a personal agenda that involved promoting his publications and experimenting with his own theories using the nation instead of genuinely advocating the country's financial survival.
Tsipras noted that those discussions to stave off insolvency became “not only a way of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of his theories.”
Critical Negotiations
During rollercoaster discussions, the country came perilously close to leaving the single currency area.
At stake lay not only Greece's future but also the punishing austerity measures required in return for rescue loans from international creditors.
Failed Options
Attempts to secure funds elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a public vote, an action which threw the EU into a further existential crisis.
Although the referendum was won resoundingly by those against the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal with foreign lenders which proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After the minister proposed a backup strategy that included creating a secondary currency and distributing coupons to retirees, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author concludes how his former ally had proved himself to be “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also claimed how his aggressive approach left him increasingly isolated with colleagues, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
