In a freshly published autobiography, called Ithaki, the former prime minister Alexis Tsipras pulls no punches as he examines that turbulent period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, Tsipras chose that maverick academic Yanis Varoufakis to be the treasury head primarily because of his worldwide fame and his very persuasive abilities as a communicator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests how his finance chief had a personal agenda which included advancing Varoufakis's books as well as experimenting with his game theories on the nation rather than genuinely advocating the country's economic stability.
He explained that the discussions to prevent bankruptcy were “not only a method to secure improved terms for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile discussions, the country came perilously on the brink of leaving the eurozone.
On the line was both the country's destiny and those punishing austerity measures demanded in return for rescue loans from international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, those excoriating conditions were subjected to a public vote, an action which threw the EU into further crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal with creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the book, the author asserts how Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras also wrote how Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
This retelling of history has provoked anger along with shock among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
