In a freshly published personal account, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he revisits the turbulent era during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, Tsipras appointed that unorthodox economist Yanis Varoufakis to be his treasury head primarily because of the latter's worldwide fame and his very persuasive abilities when it came to public orator.
“He was, in reality, more of a celebrity and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras alleges that his finance chief had his own motives that included promoting his publications as well as experimenting with his own game theories using Greece instead of genuinely fighting for its economic stability.
He explained how the discussions to stave off insolvency became “not just a method to secure a better deal for Greece. They became a test, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came perilously close to leaving the eurozone.
On the line lay both Greece's destiny and the harsh austerity measures required in exchange for rescue loans by foreign lenders.
Failed Options
Efforts to find funds from other sources, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, an action that plunged Europe into a deeper existential crisis.
Although the referendum was won decisively by those against austerity, the prime minister was forced to ignore the result and agree to a bailout package from foreign lenders that proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing coupons to pensioners, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the book, the author concludes that his former ally had proved himself to be “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further claimed that his confrontational approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
