Within his recently unveiled personal account, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the chaotic era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's account, Tsipras selected the maverick economist Yanis Varoufakis as his finance minister mainly due to the latter's global profile along with his highly compelling abilities as a communicator.
“In reality, he was, actually, more of a personality and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader claims how his finance chief had a personal motives which included advancing Varoufakis's books and experimenting with his own game theories on Greece rather than truly advocating the country's economic stability.
Tsipras noted that those negotiations to avoid insolvency became “not only a method of achieving improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid volatile discussions, the country came dangerously on the brink of leaving the single currency area.
At stake was both the country's destiny but also the severe cutbacks required in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating conditions were subjected to a public vote, a move that threw the EU into further crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal with creditors which turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan involving creating a secondary currency and distributing vouchers to pensioners, Tsipras knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, the author asserts how Varoufakis demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras further wrote how Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, and helped hardliners that were advocating Grexit.
The account of history has been met with fury and shock in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
