In a freshly published autobiography, called Ithaki, the former premier Alexis Tsipras pulls no punches while he examines the turbulent era of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, Tsipras chose the maverick economist Yanis Varoufakis to be the treasury head largely because of the latter's worldwide fame along with his highly compelling skills when it came to speaker.
“He was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis possessed his own motives which included promoting Varoufakis's books and testing out his game theories on Greece rather than genuinely fighting for its economic stability.
Tsipras explained that the discussions to prevent bankruptcy became “not only a method of achieving improved terms for Greece. They became a test, a monumental opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
During volatile discussions, the country came perilously on the brink of exiting the single currency area.
On the line was not only the country's future but also the harsh cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were subjected to a public vote, a move that plunged the EU into a deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted media attention, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the book, the author asserts how Varoufakis had proved himself “unsuitable for a deal that required complex and delicate management.”
He also claimed how Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
This retelling of events has provoked anger and stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
