In a recently unveiled personal account, titled Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, he chose that unorthodox economist Yanis Varoufakis as his treasury head primarily due to the latter's international reputation along with Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, in reality, more of a personality rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis possessed his own agenda which involved advancing his publications and testing out his economic models on Greece rather than genuinely advocating its financial survival.
Tsipras explained that those negotiations to prevent bankruptcy were “not just a method to secure improved terms for the country. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Talks
Amid tense discussions, the country came dangerously close to leaving the eurozone.
At stake lay not only Greece's destiny but also the severe cutbacks required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the referendum was won resoundingly by voters who opposed the cuts, the prime minister had little option to reject its outcome then negotiate a bailout package with creditors that turned out to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras knew that it was game over and asked him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself to be “unfit for an agreement demanding intricate and delicate management.”
He also claimed that his aggressive style made him more and more alone among peers, endangered the country, while helped hardliners who were advocating Grexit.
This retelling of events has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
