In a freshly published autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's recollections, he selected that unorthodox academic Yanis Varoufakis to be his treasury head mainly because of his worldwide fame and his very persuasive abilities as a speaker.
“In reality, he was, in reality, more of a celebrity rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader alleges how Varoufakis possessed a personal agenda which involved advancing Varoufakis's publications as well as experimenting with his economic models using the nation instead of genuinely advocating the country's financial survival.
He wrote how the discussions to stave off bankruptcy became “not only a method of achieving improved terms for the country. They were a test, a monumental opportunity to prove the validity of his economic theories.”
Critical Talks
Amid tense negotiations, the country came perilously close to leaving the eurozone.
At stake lay both Greece's future and those punishing austerity measures demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were put to a popular referendum, a move which plunged the EU into a deeper existential crisis.
Although the vote was carried resoundingly by those against the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the covers of publications the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan that included creating a parallel currency and distributing vouchers to pensioners, the leader knew it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed that his aggressive style left him increasingly isolated with colleagues, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
The account of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
