In a recently unveiled autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he revisits that turbulent period during Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, Tsipras chose the maverick academic Yanis Varoufakis as the finance minister mainly because of his international reputation and his “extremely attractive” skills when it came to communicator.
“He was, in reality, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras suggests that Varoufakis possessed his own agenda which included advancing his books as well as experimenting with his own economic models on the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted that those talks to avoid bankruptcy were “not only a method to secure improved terms for Greece. They became a test, an historic chance to prove the truth of his economic theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself perilously close to exiting the eurozone.
On the line lay not only Greece's future but also those harsh austerity policies demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, a move which plunged Europe into a deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors that turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal that required intricate and sensitive handling.”
Tsipras further claimed how his confrontational style left him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
This account of history has been met with anger and shock among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
