Within his newly released memoir, called Ithaki, the former leader Alexis Tsipras pulls no punches while he revisits that turbulent era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, Tsipras appointed the unorthodox academic Yanis Varoufakis as the finance minister mainly due to his global profile and his highly compelling skills as a communicator.
“He was, in reality, more of a personality rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief had a personal motives which included promoting Varoufakis's books and experimenting with his economic models on Greece rather than genuinely advocating its economic stability.
Tsipras explained that those negotiations to prevent insolvency became “not only a method of achieving a better deal for the country. They were a test, an historic opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
During volatile discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line was both the country's destiny and those punishing austerity policies demanded in return for bailout funds by international creditors.
Failed Alternatives
Attempts to find financing elsewhere, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and U-Turn
That summer, those harsh conditions were put to a public vote, an action which threw the EU into a further crisis of identity.
Even though the referendum was carried decisively by voters against austerity, Tsipras was forced to ignore the result and negotiate a bailout package with creditors that proved to be more severe.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a contingency plan that included establishing a secondary currency and issuing coupons to pensioners, Tsipras knew it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for a deal demanding intricate and sensitive handling.”
He also wrote how his confrontational approach made him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for Grexit.
The account of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
