In a recently unveiled personal account, titled Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines the chaotic period of Greece's financial crisis.
A Controversial Choice
According to Tsipras's account, he selected that unorthodox economist Yanis Varoufakis to be the finance minister mainly due to the latter's global profile and his highly compelling abilities when it came to public orator.
“He was, in reality, more of a celebrity and less of an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis possessed his own motives that involved promoting Varoufakis's books and testing out his theories using Greece instead of genuinely fighting for its economic stability.
Tsipras wrote how the talks to prevent insolvency were “not only a method of achieving improved terms for the country. They were a test, a monumental chance to demonstrate the validity of his economic theories.”
Critical Negotiations
During volatile negotiations, the country found itself perilously close to leaving the eurozone.
At stake lay both the country's destiny and the punishing austerity measures demanded in return for rescue loans by foreign lenders.
Failed Options
Efforts to find funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were put to a public vote, an action which threw Europe into deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal from foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy that included creating a secondary currency as well as issuing coupons to pensioners, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement that required complex and delicate handling.”
He further wrote that his aggressive approach left him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
The retelling of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
