In a newly released personal account, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits the turbulent period during Greece's debt drama.
A Controversial Choice
As per Tsipras's account, he selected the maverick academic Yanis Varoufakis to be the finance minister largely because of his worldwide fame along with his highly compelling skills when it came to communicator.
“He was, actually, more of a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief possessed a personal motives that involved promoting Varoufakis's books and experimenting with his own economic models using the nation rather than genuinely fighting for the country's economic stability.
Tsipras noted how the discussions to prevent insolvency were “not just a method of achieving improved terms for the country. They became an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself perilously close to leaving the single currency area.
On the line was not only the country's destiny but also those harsh austerity policies demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, a move that threw Europe into a further crisis of identity.
Even though the vote was carried decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result then agree to a bailout package from creditors which proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving creating a secondary currency and distributing vouchers to retirees, the leader said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes that Varoufakis demonstrated himself “unfit for a deal that required complex and delicate management.”
Tsipras also claimed that his aggressive approach left him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
The retelling of events has provoked anger and shock among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
