In a newly released memoir, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on the turbulent era of Greece's debt drama.
A Controversial Choice
According to Tsipras's account, he chose that maverick economist Yanis Varoufakis to be the finance minister largely because of his worldwide fame and Varoufakis's highly compelling abilities as a speaker.
“He was, in reality, more of a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis had a personal agenda which involved promoting his books and testing out his theories using the nation instead of genuinely advocating the country's economic stability.
He wrote how those talks to prevent insolvency were “not only a way of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the truth of his economic theories.”
Critical Talks
During volatile discussions, the country came perilously close to exiting the single currency area.
At stake was not only Greece's future but also the severe austerity measures required in return for rescue loans by international creditors.
Failed Alternatives
Attempts to find funds from other sources, including an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those punitive bailout terms were put to a popular referendum, a move which threw Europe into deeper existential crisis.
Even though the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced but to ignore the result and negotiate a bailout package with foreign lenders which proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications the world over … it seemed he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and sensitive management.”
He also claimed that his aggressive approach left him more and more alone among peers, put Greece at risk, while helped hawks who were pushing for Grexit.
The account of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
