In a newly released autobiography, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on the chaotic period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, he selected that maverick academic Yanis Varoufakis to be his finance minister mainly due to the latter's worldwide fame along with his very persuasive skills as a public orator.
“In reality, he was, actually, more like a star rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis had a personal agenda which included advancing his books as well as experimenting with his own game theories using the nation rather than truly fighting for the country's economic stability.
Tsipras explained how those negotiations to prevent insolvency became “not just a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid tense negotiations, Greece found itself perilously close to exiting the eurozone.
At stake lay not only the country's future but also those punishing austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, those excoriating bailout terms were put to a public vote, a move that threw the EU into a deeper existential crisis.
Although the vote was carried decisively by those who opposed the cuts, the prime minister was forced to reject its outcome and negotiate a rescue deal from creditors that proved to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself “unfit for a deal demanding intricate and delicate handling.”
He also claimed how Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, and helped hawks that were advocating Grexit.
The account of events has provoked fury and stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
