In a newly released memoir, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on that chaotic period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's version, he appointed the maverick academic Yanis Varoufakis to be his treasury head largely due to his global profile along with Varoufakis's “extremely attractive” skills as a public orator.
“He was, truthfully, more like a star and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own motives which involved promoting his books and experimenting with his own game theories using the nation rather than truly advocating its financial survival.
Tsipras wrote how the discussions to stave off insolvency were “not just a way to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself perilously on the brink of leaving the single currency area.
At stake lay both Greece's future but also those severe cutbacks required in return for financial aid by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were put to a public vote, an action that threw Europe into further existential crisis.
Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option to reject its outcome then agree to a bailout package with creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Are you serious?”
Enduring Criticism
In the book, the author asserts that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
Tsipras also claimed how his aggressive approach left him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
The account of history has provoked fury and shock among certain groups, while the former minister has so far maintained a deafening silence on the matter.
