Within his recently unveiled personal account, called Ithaki, the former leader Alexis Tsipras spares no criticism while he examines that chaotic period of Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, he selected the unorthodox economist Yanis Varoufakis to be his finance minister mainly because of his global profile and his “extremely attractive” abilities as a public orator.
“In reality, he was, actually, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader suggests that his finance chief possessed a personal motives that involved advancing his books and experimenting with his own economic models using Greece instead of truly advocating its financial survival.
Tsipras noted that the negotiations to stave off bankruptcy were “not just a way to secure improved terms for Greece. They were a test, a monumental chance to prove the truth of his ideas.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay not only the country's future and the harsh cutbacks required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action that threw the EU into further crisis of identity.
Although the referendum was carried resoundingly by those who opposed austerity, Tsipras was forced to ignore the result and negotiate a bailout package with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a parallel currency and issuing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes how Varoufakis had proved himself to be “unfit for an agreement demanding complex and delicate management.”
He also wrote that his confrontational approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
The retelling of history has provoked anger along with stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
