Within his recently unveiled memoir, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on that chaotic era during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, he selected that unorthodox economist Yanis Varoufakis as the finance minister largely due to the latter's worldwide fame and Varoufakis's very persuasive skills as a communicator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed his own motives which involved promoting his books and experimenting with his game theories on Greece instead of truly fighting for the country's financial survival.
He wrote that the negotiations to prevent insolvency became “not only a way of achieving a better deal for the country. They became a test, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Negotiations
Amid tense discussions, the country found itself dangerously close to exiting the single currency area.
On the line lay both Greece's future and the harsh austerity measures demanded in exchange for bailout funds from international creditors.
Failed Options
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, a move which plunged the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by voters against the cuts, Tsipras was forced but to ignore the result and agree to a bailout package from creditors which turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and distributing vouchers to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, the author asserts how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also wrote that his confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
This account of history has been met with anger along with shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
