In a recently unveiled memoir, named Ithaki, the former leader Alexis Tsipras does not hold back while he revisits that turbulent period of Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, he chose that maverick economist Yanis Varoufakis to be the treasury head mainly due to his worldwide fame along with his highly compelling skills when it came to communicator.
“He was, truthfully, more of a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis possessed a personal agenda which involved advancing Varoufakis's publications as well as experimenting with his theories using Greece instead of truly advocating its economic stability.
He wrote that the talks to prevent insolvency were “not only a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of his economic theories.”
High-Stakes Talks
During volatile negotiations, the country came perilously close to leaving the eurozone.
At stake was not only Greece's destiny but also those harsh cutbacks demanded in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the excoriating conditions were put to a public vote, an action that plunged the EU into a further existential crisis.
Even though the referendum was carried resoundingly by voters against austerity, the prime minister was forced to ignore the result then negotiate a bailout package from creditors which proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was the end and asked him: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement that required intricate and delicate handling.”
He further claimed that Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of history has provoked fury and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
