In a freshly published autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he revisits the turbulent period during Greece's debt drama.
A Controversial Choice
As per Tsipras's recollections, Tsipras chose the maverick economist Yanis Varoufakis to be his treasury head largely because of his international reputation and Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, in reality, more of a star and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had his own agenda which involved advancing Varoufakis's books and testing out his theories on the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted that those discussions to prevent bankruptcy were “not only a way to secure improved terms for the country. They were an experiment, an historic opportunity to prove the validity of his theories.”
High-Stakes Talks
Amid tense discussions, Greece found itself perilously close to exiting the single currency area.
On the line was both the country's future but also the punishing austerity measures required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were put to a popular referendum, an action that threw the EU into further existential crisis.
Although the vote was won resoundingly by voters against the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader knew that it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and delicate management.”
He further wrote that his confrontational approach left him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
The account of events has been met with fury and shock in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
