Within his recently unveiled memoir, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines that turbulent era during Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, Tsipras appointed the unorthodox academic Yanis Varoufakis to be the treasury head largely because of his worldwide fame along with his very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis possessed a personal motives that included promoting his books and experimenting with his own theories on the nation instead of truly advocating its financial survival.
He noted how those discussions to stave off bankruptcy became “not just a method to secure improved terms for Greece. They were an experiment, an historic chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, Greece came perilously close to leaving the single currency area.
At stake was both the country's future and those severe cutbacks demanded in return for bailout funds from international creditors.
Failed Options
Attempts to secure financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, a move that threw Europe into a further crisis of identity.
Even though the vote was carried resoundingly by voters against austerity, the prime minister was forced but to ignore the result and agree to a rescue deal from foreign lenders which proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts how his former ally had proved himself “unsuitable for an agreement that required complex and delicate handling.”
He also wrote how Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating Grexit.
This retelling of history has been met with fury along with stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence on the matter.
