Within his newly released autobiography, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines the chaotic period of Greece's debt drama.
A Controversial Appointment
As per Tsipras's version, Tsipras chose the unorthodox economist Yanis Varoufakis as the treasury head mainly due to the latter's worldwide fame along with his highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief had a personal agenda which involved advancing Varoufakis's publications as well as testing out his economic models using Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted that those discussions to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the single currency area.
At stake was both the country's future but also those harsh austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were put to a popular referendum, an action which threw the EU into further existential crisis.
Even though the vote was carried decisively by voters who opposed austerity, the prime minister was forced to reject its outcome and negotiate a bailout package from creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
Tsipras further wrote how his confrontational approach made him more and more alone among peers, put Greece at risk, and helped hawks who were pushing for Grexit.
This account of history has been met with fury along with shock among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
