In a newly released memoir, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits the turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, he chose the maverick academic Yanis Varoufakis to be the treasury head mainly due to the latter's international reputation along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims how Varoufakis possessed his own motives that included promoting Varoufakis's books as well as testing out his theories using the nation instead of truly fighting for the country's financial survival.
Tsipras noted how those discussions to prevent bankruptcy became “not just a way to secure improved terms for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster discussions, Greece came dangerously on the brink of leaving the single currency area.
On the line was not only the country's future and the punishing cutbacks required in exchange for financial aid from foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were put to a popular referendum, an action that threw the EU into deeper crisis of identity.
Even though the vote was carried decisively by those against the cuts, the prime minister was forced to ignore the result then agree to a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing coupons to retirees, the leader knew that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
Tsipras further claimed how his confrontational style made him more and more alone with colleagues, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
The retelling of history has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
