Within his recently unveiled personal account, called Ithaki, the former premier Alexis Tsipras spares no criticism as he revisits that chaotic era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras appointed the unorthodox academic Yanis Varoufakis as his treasury head mainly because of the latter's global profile along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief possessed his own agenda that involved advancing his books and experimenting with his economic models using Greece rather than truly fighting for the country's financial survival.
He noted how those negotiations to stave off insolvency became “not only a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During tense negotiations, the country came perilously close to exiting the eurozone.
At stake lay both the country's destiny but also the punishing austerity policies required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those excoriating bailout terms were put to a public vote, an action which plunged Europe into further crisis of identity.
Even though the vote was carried decisively by those who opposed austerity, the prime minister had little option but to reject its outcome and negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and delicate handling.”
He further claimed how his aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
This account of history has been met with fury and stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
