In a recently unveiled personal account, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines that chaotic period during Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, he selected that unorthodox academic Yanis Varoufakis to be the treasury head primarily because of his international reputation and Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis possessed a personal motives that included promoting Varoufakis's books and experimenting with his own theories on Greece instead of truly advocating its financial survival.
Tsipras explained that the discussions to stave off bankruptcy became “not only a way of achieving improved terms for the country. They were an experiment, a monumental chance to prove the truth of his ideas.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line was both the country's destiny and the harsh austerity policies required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were subjected to a public vote, an action which threw the EU into a deeper existential crisis.
Although the referendum was carried resoundingly by those against austerity, the prime minister was forced but to ignore the result and agree to a rescue deal from creditors which turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who attracted publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, the leader knew it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts that his former ally had proved himself “unsuitable for a deal that required complex and delicate management.”
Tsipras further wrote that Varoufakis's confrontational approach made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
This account of events has provoked anger and shock in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
