In a recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on that chaotic period during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's account, he selected the maverick economist Yanis Varoufakis as his finance minister largely due to the latter's international reputation along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges that Varoufakis had his own agenda that included advancing Varoufakis's publications as well as experimenting with his theories on Greece rather than genuinely fighting for its financial survival.
Tsipras explained that those discussions to prevent insolvency were “not only a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself dangerously on the brink of leaving the single currency area.
On the line lay both the country's future and the severe cutbacks required in exchange for financial aid from foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal from foreign lenders that proved to be tougher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan that included establishing a secondary currency and issuing coupons to retirees, Tsipras knew it was game over questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras also wrote that his confrontational approach made him more and more alone among peers, endangered the country, and assisted hawks who were pushing for Grexit.
The account of events has been met with anger along with stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.
