Within his freshly published personal account, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines that turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, Tsipras selected the unorthodox academic Yanis Varoufakis as the treasury head largely due to the latter's international reputation along with Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, actually, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader alleges how his finance chief had a personal motives which included promoting his publications and testing out his own theories on the nation instead of truly fighting for the country's financial survival.
Tsipras wrote that those talks to avoid insolvency became “not only a method to secure improved terms for Greece. They became a test, an historic opportunity to prove the validity of his ideas.”
Critical Negotiations
During volatile discussions, Greece found itself perilously on the brink of leaving the single currency area.
On the line was both the country's destiny and those harsh austerity measures demanded in return for financial aid from international creditors.
Failed Options
Attempts to find financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were put to a popular referendum, a move which plunged Europe into a further existential crisis.
Even though the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option to reject its outcome and negotiate a rescue deal from creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency as well as issuing coupons to retirees, Tsipras knew it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He also claimed that Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The account of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
