In a freshly published memoir, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he revisits the turbulent period during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, he chose the maverick academic Yanis Varoufakis as his treasury head largely because of his international reputation along with his very persuasive abilities as a speaker.
“In reality, he was, actually, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief had his own motives which involved advancing his publications and testing out his own game theories using Greece rather than truly fighting for its financial survival.
Tsipras noted how those discussions to stave off insolvency became “not only a method to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of his theories.”
Critical Negotiations
Amid volatile negotiations, the country found itself dangerously on the brink of exiting the single currency area.
On the line was both Greece's destiny but also the harsh austerity measures demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the punitive bailout terms were put to a public vote, a move which plunged the EU into deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result then agree to a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was game over and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for a deal that required complex and delicate management.”
Tsipras further claimed how his confrontational style made him increasingly isolated among peers, endangered the country, and assisted hawks that were pushing for Grexit.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
