Within his freshly published personal account, titled Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, Tsipras chose the unorthodox academic Yanis Varoufakis to be his treasury head mainly due to his international reputation and Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, actually, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief possessed a personal agenda that included promoting Varoufakis's books as well as experimenting with his theories using the nation instead of genuinely fighting for its financial survival.
Tsipras noted that the talks to prevent insolvency were “not just a way of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid tense discussions, the country found itself perilously on the brink of leaving the eurozone.
At stake lay not only the country's destiny but also the severe austerity measures required in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those punitive conditions were put to a public vote, a move that plunged the EU into a deeper existential crisis.
Even though the referendum was won decisively by those who opposed austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal with creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications globally … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was game over and asked him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and delicate handling.”
He also claimed how his confrontational style made him increasingly isolated among peers, endangered the country, while helped hawks who were advocating Grexit.
The retelling of events has provoked anger along with stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
