In a newly released personal account, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he revisits the turbulent period of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, he chose the unorthodox economist Yanis Varoufakis to be his treasury head largely because of his international reputation along with Varoufakis's very persuasive skills when it came to speaker.
“He was, in reality, more like a star and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims that his finance chief possessed a personal agenda that involved promoting his books as well as experimenting with his own economic models on Greece rather than truly advocating the country's financial survival.
Tsipras noted that those negotiations to stave off insolvency were “not just a method of achieving a better deal for Greece. They became a test, an historic chance to prove the validity of his economic theories.”
High-Stakes Talks
During tense negotiations, the country found itself dangerously close to exiting the single currency area.
At stake lay both Greece's destiny and the severe cutbacks demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move which plunged Europe into a further existential crisis.
Although the referendum was carried decisively by those against the cuts, the prime minister was forced but to reject its outcome then negotiate a bailout package with creditors that proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included creating a parallel currency and distributing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, the author asserts how his former ally demonstrated himself “unfit for a deal that required complex and sensitive management.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, while assisted hawks that were pushing for Grexit.
This retelling of history has provoked fury along with stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
