In a freshly published personal account, called Ithaki, the former premier Alexis Tsipras does not hold back as he reflects on the turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, he selected that unorthodox economist Yanis Varoufakis to be his finance minister mainly because of his worldwide fame and Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more of a star rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief had his own agenda that included advancing Varoufakis's books as well as testing out his economic models using Greece instead of genuinely advocating the country's economic stability.
He explained how those discussions to avoid insolvency were “not just a way to secure improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay not only the country's future and those severe cutbacks required in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were put to a popular referendum, an action that plunged Europe into further existential crisis.
Even though the referendum was carried resoundingly by those against austerity, Tsipras was forced to reject its outcome then negotiate a rescue deal with creditors which proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the front pages of publications globally … it seemed he relished his new role.”
When the minister proposed a contingency plan involving establishing a secondary currency and issuing coupons to retirees, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive handling.”
Tsipras further claimed that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for Grexit.
This account of events has been met with anger along with shock in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
