In a recently unveiled autobiography, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on the turbulent era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, Tsipras appointed that maverick economist Yanis Varoufakis to be the treasury head primarily because of the latter's international reputation and Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, in reality, more of a star and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief possessed his own motives that included promoting his publications as well as experimenting with his own economic models using Greece rather than genuinely fighting for the country's financial survival.
He explained how the discussions to avoid insolvency were “not only a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
During volatile discussions, the country came dangerously on the brink of leaving the single currency area.
At stake lay both the country's future but also the severe cutbacks demanded in exchange for financial aid from international creditors.
Failed Options
Attempts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, a move which threw the EU into further crisis of identity.
Although the referendum was won decisively by voters against the cuts, the prime minister had little option but to reject its outcome and negotiate a rescue deal from creditors that proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan involving creating a secondary currency as well as distributing vouchers to pensioners, the leader knew it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal that required intricate and sensitive handling.”
He further claimed that his confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for Grexit.
This account of events has been met with anger and stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
