Within his freshly published memoir, named Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, Tsipras selected that maverick academic Yanis Varoufakis as the treasury head mainly due to the latter's international reputation and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, actually, more of a personality rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader claims how his finance chief had a personal agenda that involved promoting his publications as well as experimenting with his own theories using the nation instead of genuinely advocating the country's economic stability.
Tsipras wrote how those talks to prevent insolvency became “not just a method of achieving a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During rollercoaster discussions, Greece came perilously close to leaving the single currency area.
At stake lay not only Greece's future but also the severe austerity measures demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those excoriating conditions were subjected to a public vote, an action that plunged Europe into deeper existential crisis.
Although the vote was carried resoundingly by those against austerity, the prime minister had little option to ignore the result then agree to a bailout package with creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency and issuing vouchers to pensioners, the leader knew it was game over questioning him: “Is this for real?”
Enduring Criticism
In the memoir, the author asserts that his former ally had proved himself to be “unfit for an agreement demanding complex and delicate management.”
He further claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
This retelling of events has been met with anger along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
