In a freshly published memoir, titled Ithaki, the former premier Alexis Tsipras does not hold back while he revisits the turbulent period of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras selected that unorthodox academic Yanis Varoufakis as his finance minister mainly because of the latter's worldwide fame along with his very persuasive skills as a communicator.
“He was, truthfully, more of a star rather than an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader claims that Varoufakis possessed a personal motives which involved advancing his publications as well as testing out his economic models on the nation rather than genuinely fighting for the country's financial survival.
Tsipras explained how those talks to stave off insolvency became “not only a way of achieving improved terms for the country. They were a test, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
During tense discussions, the country found itself dangerously close to leaving the eurozone.
At stake was both Greece's future but also those severe austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were put to a public vote, a move that threw the EU into further existential crisis.
Even though the vote was won decisively by voters who opposed austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author asserts how Varoufakis had proved himself “unsuitable for a deal that required complex and sensitive handling.”
Tsipras further wrote how his aggressive approach made him more and more alone among peers, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
