In a newly released personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he reflects on the chaotic period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, Tsipras appointed that unorthodox economist Yanis Varoufakis as the treasury head mainly due to the latter's international reputation and his very persuasive skills when it came to communicator.
“In reality, he was, actually, more of a personality and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief possessed his own agenda which included advancing Varoufakis's publications as well as experimenting with his own theories on Greece instead of genuinely fighting for its financial survival.
Tsipras explained that those discussions to avoid insolvency were “not just a way to secure improved terms for the country. They were a test, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
During volatile negotiations, the country came dangerously on the brink of exiting the single currency area.
At stake was not only Greece's future but also those punishing cutbacks demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, the excoriating conditions were put to a public vote, an action that plunged the EU into further crisis of identity.
Although the vote was won decisively by those who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a rescue deal with creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement demanding complex and delicate handling.”
He also wrote how Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, and helped hawks who were advocating Grexit.
This account of history has provoked fury along with stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
