In a newly released personal account, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines the turbulent era of Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, Tsipras selected the unorthodox academic Yanis Varoufakis to be the treasury head mainly due to the latter's international reputation and Varoufakis's very persuasive skills as a communicator.
“In reality, he was, in reality, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief had his own motives which involved promoting Varoufakis's books and testing out his theories using Greece rather than truly fighting for its financial survival.
He noted how those talks to stave off insolvency were “not only a way to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of his theories.”
Critical Negotiations
During rollercoaster negotiations, the country came dangerously close to leaving the single currency area.
At stake was both the country's destiny but also those punishing austerity policies demanded in return for rescue loans by international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those harsh bailout terms were subjected to a public vote, an action that threw Europe into deeper crisis of identity.
Although the vote was carried decisively by voters against the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency as well as distributing coupons to pensioners, the leader said he realised that it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts how his former ally demonstrated himself “unfit for an agreement that required complex and delicate handling.”
Tsipras further wrote how his aggressive style made him more and more alone with colleagues, endangered the country, and helped hawks who were advocating Grexit.
This retelling of events has provoked fury along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
