Within his newly released memoir, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he examines that chaotic era of Greece's debt drama.
A Controversial Choice
In the ex-PM's version, he appointed the unorthodox academic Yanis Varoufakis to be his treasury head primarily because of the latter's global profile and Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, actually, more like a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief possessed his own motives which involved promoting Varoufakis's books and testing out his own game theories on the nation rather than truly fighting for its financial survival.
He explained how those negotiations to stave off insolvency became “not only a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
During tense discussions, the country found itself dangerously close to exiting the single currency area.
At stake lay both the country's future and the severe austerity measures required in return for financial aid from international creditors.
Failed Alternatives
Attempts to find financing from other sources, including an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were subjected to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced to ignore the result and agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a contingency plan involving creating a secondary currency and distributing vouchers to pensioners, the leader said he realised it was game over questioning him: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”
He further claimed how his confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with fury and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
