In a newly released autobiography, called Ithaki, the former premier Alexis Tsipras does not hold back as he examines the turbulent period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's version, he appointed that unorthodox academic Yanis Varoufakis to be the treasury head primarily due to the latter's global profile and Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests how his finance chief possessed his own motives which included advancing Varoufakis's books as well as testing out his own theories on the nation instead of genuinely advocating its economic stability.
Tsipras wrote how those negotiations to avoid bankruptcy became “not just a way to secure a better deal for Greece. They were a test, a monumental chance to prove the validity of his economic theories.”
Critical Talks
During rollercoaster discussions, the country came perilously on the brink of leaving the eurozone.
On the line lay both the country's destiny but also the harsh austerity policies required in exchange for rescue loans from international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive bailout terms were put to a public vote, a move which plunged the EU into a further crisis of identity.
Although the vote was carried decisively by those against the cuts, Tsipras had little option but to ignore the result and agree to a bailout package from creditors which proved to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras also claimed how his confrontational style left him more and more alone with colleagues, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
The account of events has provoked fury and shock in some quarters, while the former minister has so far maintained a deafening silence on the matter.
