Within his recently unveiled autobiography, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he revisits that turbulent period during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed the unorthodox economist Yanis Varoufakis as his treasury head largely because of his worldwide fame along with his very persuasive skills as a communicator.
“He was, actually, more of a celebrity rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis had a personal motives which involved promoting Varoufakis's books as well as testing out his own economic models on the nation instead of truly fighting for the country's economic stability.
He explained that those discussions to prevent bankruptcy were “not just a way of achieving a better deal for Greece. They were a test, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Talks
Amid tense negotiations, the country found itself dangerously close to exiting the eurozone.
At stake lay not only Greece's future and the severe austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the punitive bailout terms were subjected to a public vote, a move which plunged the EU into further crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, Tsipras was forced but to ignore the result and negotiate a bailout package from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who drew publicity, who graced the covers of publications globally … it seemed he relished his new role.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras concludes how his former ally had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
Tsipras also wrote that his aggressive approach left him more and more alone with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This account of history has been met with fury and stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
