In a recently unveiled memoir, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he revisits the turbulent era of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's account, Tsipras appointed the maverick academic Yanis Varoufakis to be the finance minister mainly because of his worldwide fame along with Varoufakis's highly compelling skills as a public orator.
“In reality, he was, in reality, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis had his own agenda that included promoting Varoufakis's books as well as experimenting with his own theories using Greece rather than truly fighting for its financial survival.
He noted that those negotiations to avoid insolvency became “not only a way of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the validity of his ideas.”
Critical Talks
During volatile discussions, Greece came perilously on the brink of leaving the single currency area.
On the line was not only the country's destiny but also those harsh cutbacks required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were subjected to a popular referendum, an action that plunged the EU into a further existential crisis.
Although the referendum was won resoundingly by those against the cuts, Tsipras had little option to reject its outcome and agree to a bailout package from creditors which proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted publicity, who appeared on the covers of publications the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was game over and asked him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal demanding intricate and sensitive management.”
Tsipras also claimed how his aggressive approach made him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
This retelling of history has provoked anger and stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
