Within his freshly published autobiography, named Ithaki, the former premier Alexis Tsipras pulls no punches as he revisits the turbulent period during Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, he chose that unorthodox academic Yanis Varoufakis as his treasury head largely due to his global profile and Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more like a personality and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges how Varoufakis possessed his own motives which involved promoting his books and experimenting with his own economic models using the nation rather than genuinely fighting for its economic stability.
Tsipras noted that the negotiations to avoid bankruptcy became “not only a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of his theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece came perilously close to leaving the eurozone.
At stake lay not only Greece's destiny but also the punishing austerity measures demanded in exchange for financial aid from international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, an action which threw the EU into deeper existential crisis.
Although the referendum was won resoundingly by those who opposed austerity, Tsipras was forced to ignore the result and agree to a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy involving creating a secondary currency and issuing coupons to pensioners, the leader said he realised it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also claimed that Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, while assisted hawks who were pushing for Grexit.
The account of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
