In a freshly published memoir, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he reflects on the turbulent era during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's recollections, Tsipras appointed the maverick academic Yanis Varoufakis as his treasury head largely because of his worldwide fame and his very persuasive skills when it came to speaker.
“He was, actually, more of a personality and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras suggests that Varoufakis had his own agenda which involved advancing Varoufakis's publications and testing out his own economic models on the nation instead of genuinely advocating its financial survival.
He wrote how those discussions to stave off insolvency were “not only a way of achieving a better deal for Greece. They were a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece came perilously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny and the severe austerity policies required in return for financial aid from international creditors.
Failed Options
Attempts to secure financing from other sources, including an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, a move which threw the EU into further existential crisis.
Even though the vote was won decisively by voters against austerity, Tsipras had little option to ignore the result then negotiate a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts how his former ally had proved himself “unsuitable for a deal that required complex and delicate management.”
Tsipras further wrote that Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks who were pushing for Grexit.
This account of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
