Within his newly released personal account, named Ithaki, the former premier Alexis Tsipras pulls no punches while he revisits that chaotic period during Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, Tsipras selected the maverick economist Yanis Varoufakis as his treasury head mainly due to his global profile and Varoufakis's highly compelling abilities as a communicator.
“He was, in reality, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief had his own agenda that included advancing his books as well as testing out his game theories on the nation rather than genuinely fighting for its economic stability.
Tsipras noted that the talks to avoid insolvency became “not only a method of achieving improved terms for the country. They were an experiment, an historic chance to prove the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
At stake was not only Greece's destiny but also the punishing austerity measures demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the excoriating conditions were subjected to a popular referendum, a move which plunged the EU into a further existential crisis.
Even though the referendum was won decisively by those against austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and issuing coupons to retirees, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
Tsipras also claimed how his confrontational approach left him more and more alone with colleagues, endangered the country, while helped hawks who were advocating Grexit.
The retelling of events has been met with fury along with shock among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
