Within his freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines that chaotic period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, Tsipras chose that unorthodox academic Yanis Varoufakis as the finance minister largely due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis possessed a personal agenda that involved advancing Varoufakis's books as well as experimenting with his own economic models on Greece rather than genuinely advocating the country's financial survival.
Tsipras noted how the talks to avoid insolvency were “not just a way of achieving a better deal for the country. They became an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Negotiations
During volatile discussions, Greece came perilously on the brink of exiting the single currency area.
On the line was not only Greece's destiny but also those harsh austerity measures demanded in return for bailout funds by international creditors.
Failed Options
Efforts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Although the vote was won resoundingly by voters against the cuts, the prime minister had little option to ignore the result and agree to a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency and issuing vouchers to retirees, the leader said he realised that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes that Varoufakis had proved himself “unfit for an agreement that required complex and delicate handling.”
He further wrote how Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of history has been met with fury and shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
