In a recently unveiled memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines the turbulent era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's recollections, he chose the unorthodox economist Yanis Varoufakis as his treasury head largely due to his worldwide fame and Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims how his finance chief had his own agenda which involved advancing his books as well as testing out his own theories on the nation instead of truly advocating the country's economic stability.
He noted that the discussions to prevent bankruptcy were “not only a way to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the validity of his theories.”
High-Stakes Negotiations
During volatile negotiations, Greece came perilously on the brink of leaving the eurozone.
At stake lay both the country's destiny and the harsh austerity measures required in return for financial aid from foreign lenders.
Failed Options
Efforts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those harsh conditions were subjected to a public vote, a move which threw Europe into deeper existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, the prime minister was forced to reject its outcome then negotiate a rescue deal from creditors that turned out to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted media attention, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan involving creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how his former ally had proved himself “unfit for an agreement that required intricate and sensitive management.”
He further claimed that his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
