In a freshly published memoir, called Ithaki, the former leader Alexis Tsipras pulls no punches as he reflects on the chaotic period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, he chose that unorthodox academic Yanis Varoufakis to be his finance minister largely due to his worldwide fame and his very persuasive abilities as a communicator.
“He was, truthfully, more of a star and less of an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis had his own agenda which included advancing Varoufakis's books as well as experimenting with his economic models using the nation instead of truly advocating the country's economic stability.
He explained that the discussions to stave off bankruptcy were “not only a method to secure improved terms for the country. They were an experiment, an historic opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid volatile discussions, the country found itself perilously close to leaving the eurozone.
On the line lay both Greece's destiny but also the harsh cutbacks demanded in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to find financing from other sources, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were subjected to a public vote, an action which threw Europe into a deeper existential crisis.
Even though the referendum was carried decisively by voters against austerity, the prime minister was forced but to reject its outcome then agree to a bailout package with creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes how his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also wrote that his aggressive style left him increasingly isolated among peers, endangered the country, while helped hawks that were advocating Grexit.
This account of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
