Within his freshly published memoir, called Ithaki, the former premier Alexis Tsipras pulls no punches as he examines that chaotic era during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's account, Tsipras appointed the maverick economist Yanis Varoufakis to be the finance minister primarily because of the latter's worldwide fame along with his “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis had a personal agenda which included promoting his publications and experimenting with his own theories on the nation instead of genuinely advocating the country's financial survival.
Tsipras explained how those talks to stave off insolvency were “not only a way to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
During volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line lay both Greece's future and those punishing cutbacks demanded in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those harsh conditions were subjected to a public vote, a move which threw Europe into deeper existential crisis.
Although the referendum was won resoundingly by voters against the cuts, Tsipras was forced to reject its outcome then agree to a bailout package with foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving creating a parallel currency and distributing coupons to retirees, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts how his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The retelling of history has provoked anger along with shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
