Within his newly released memoir, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's account, Tsipras appointed the maverick economist Yanis Varoufakis as his treasury head largely because of the latter's international reputation and Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, actually, more like a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief possessed a personal motives that included promoting Varoufakis's books and testing out his own game theories using Greece rather than genuinely fighting for its economic stability.
Tsipras explained how those negotiations to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They were a test, a monumental chance to prove the truth of his ideas.”
Critical Negotiations
During tense discussions, the country came dangerously close to exiting the single currency area.
At stake lay both the country's destiny but also the punishing austerity policies required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, an action which threw the EU into further existential crisis.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras was forced but to ignore the result and negotiate a bailout package with foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and distributing coupons to pensioners, the leader knew that it was game over and asked him: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras concludes how his former ally had proved himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also wrote that his confrontational approach made him more and more alone with colleagues, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
The account of history has been met with fury along with shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
