Within his newly released personal account, called Ithaki, the former premier Alexis Tsipras pulls no punches while he revisits the turbulent era of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, Tsipras appointed the maverick economist Yanis Varoufakis as the treasury head largely because of his international reputation along with Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more like a star and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims that his finance chief had a personal motives that included advancing Varoufakis's publications and experimenting with his own economic models using Greece rather than genuinely fighting for its economic stability.
Tsipras explained that the discussions to avoid bankruptcy became “not just a method to secure improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of his ideas.”
Critical Talks
During volatile negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was both Greece's future but also the punishing austerity policies required in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those excoriating bailout terms were put to a public vote, a move that threw Europe into deeper crisis of identity.
Although the referendum was carried resoundingly by those against austerity, the prime minister had little option to reject its outcome and agree to a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When the minister proposed a contingency plan involving creating a secondary currency and issuing vouchers to pensioners, the leader said he realised it was game over questioning him: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
He further wrote that Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
The account of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
