Within his newly released personal account, called Ithaki, the former leader Alexis Tsipras pulls no punches as he examines that chaotic period of Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, he appointed the unorthodox academic Yanis Varoufakis as the treasury head largely due to the latter's global profile and Varoufakis's highly compelling skills as a public orator.
“In reality, he was, in reality, more of a star and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis possessed his own motives which included advancing Varoufakis's books and experimenting with his own theories using Greece instead of genuinely advocating its economic stability.
Tsipras noted how the talks to avoid bankruptcy became “not just a method to secure a better deal for Greece. They became a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense negotiations, Greece found itself perilously on the brink of exiting the eurozone.
At stake lay not only the country's future but also those punishing cutbacks demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, an action which plunged Europe into further crisis of identity.
Although the referendum was won decisively by voters against the cuts, the prime minister was forced but to reject its outcome and negotiate a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy that included creating a parallel currency and distributing coupons to pensioners, the leader knew that it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further wrote that his confrontational approach left him increasingly isolated among peers, endangered the country, while helped hardliners who were advocating Grexit.
The retelling of history has provoked anger along with shock in some quarters, while the former minister has kept a deafening silence on the matter.
