Within his recently unveiled autobiography, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism as he revisits the chaotic period of Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, Tsipras selected the unorthodox academic Yanis Varoufakis as the treasury head largely due to his worldwide fame along with his highly compelling skills as a speaker.
“In reality, he was, in reality, more like a celebrity rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis possessed a personal motives that involved promoting his publications and experimenting with his economic models using the nation rather than truly fighting for its economic stability.
He explained that those negotiations to avoid insolvency were “not only a way to secure improved terms for Greece. They were a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously close to leaving the single currency area.
On the line lay not only the country's future and the harsh austerity measures required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were subjected to a popular referendum, a move which threw Europe into a deeper existential crisis.
Even though the vote was won resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy involving creating a secondary currency as well as issuing vouchers to pensioners, the leader knew it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes that Varoufakis had proved himself “unfit for an agreement that required intricate and delicate management.”
Tsipras also claimed that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while assisted hawks who were pushing for Grexit.
This account of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
