In a freshly published personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism as he examines the turbulent era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, Tsipras chose that unorthodox economist Yanis Varoufakis to be the treasury head primarily because of the latter's worldwide fame along with his “extremely attractive” skills as a speaker.
“In reality, he was, actually, more of a star and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief had a personal motives that involved promoting his publications as well as experimenting with his own economic models on the nation rather than truly fighting for the country's financial survival.
He explained how the talks to prevent bankruptcy were “not only a way of achieving improved terms for the country. They were a test, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Talks
During rollercoaster negotiations, the country found itself perilously on the brink of leaving the eurozone.
On the line was not only Greece's future and the punishing austerity policies demanded in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the excoriating conditions were put to a public vote, a move which plunged the EU into deeper existential crisis.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result then agree to a bailout package with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan involving creating a secondary currency and issuing vouchers to pensioners, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally had proved himself “unfit for an agreement that required intricate and sensitive handling.”
He further wrote how his aggressive style made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were advocating Grexit.
The retelling of history has been met with anger and shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
