Within his recently unveiled memoir, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits that turbulent era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, Tsipras appointed the unorthodox academic Yanis Varoufakis to be the treasury head mainly due to the latter's international reputation along with Varoufakis's highly compelling skills as a speaker.
“He was, truthfully, more like a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief had his own motives which involved advancing Varoufakis's books and experimenting with his theories on the nation rather than truly advocating its financial survival.
Tsipras wrote how the talks to stave off insolvency became “not just a way to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During volatile negotiations, the country found itself dangerously close to leaving the eurozone.
On the line was both the country's future but also those harsh austerity measures required in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the punitive bailout terms were subjected to a popular referendum, a move that threw Europe into deeper existential crisis.
Although the vote was won resoundingly by those who opposed austerity, the prime minister was forced to ignore the result then negotiate a rescue deal from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan involving creating a parallel currency and distributing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, while helped hardliners that were pushing for Grexit.
The retelling of history has provoked anger and shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.
