In a freshly published personal account, named Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on the turbulent era during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's version, he chose the unorthodox economist Yanis Varoufakis to be the treasury head largely due to the latter's international reputation and Varoufakis's very persuasive abilities as a public orator.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader suggests that Varoufakis possessed his own agenda which included promoting Varoufakis's publications and testing out his theories on the nation rather than truly fighting for the country's financial survival.
Tsipras noted how those negotiations to prevent bankruptcy became “not only a method to secure improved terms for Greece. They were a test, an historic chance to demonstrate the validity of his theories.”
Critical Talks
During rollercoaster discussions, Greece came dangerously close to exiting the single currency area.
At stake was both Greece's destiny but also those punishing austerity measures required in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, a move that threw Europe into deeper crisis of identity.
Although the vote was carried decisively by voters who opposed the cuts, Tsipras was forced to ignore the result then agree to a rescue deal with creditors which turned out to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who attracted publicity, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency and issuing coupons to retirees, Tsipras knew that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, the author asserts how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate management.”
He further wrote how his confrontational approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
The account of events has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
