Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits that chaotic period of Greece's debt drama.
A Controversial Choice
As per Tsipras's recollections, he appointed the maverick academic Yanis Varoufakis to be his finance minister mainly due to his global profile and his very persuasive abilities when it came to communicator.
“He was, actually, more of a personality and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief had a personal motives that involved promoting Varoufakis's books and testing out his own economic models on Greece instead of genuinely advocating its financial survival.
Tsipras explained how the negotiations to stave off insolvency became “not only a way to secure improved terms for the country. They were an experiment, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came perilously close to leaving the single currency area.
At stake lay both the country's future and those harsh austerity measures demanded in return for bailout funds from foreign lenders.
Failed Options
Attempts to find funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, an action that plunged the EU into further crisis of identity.
Even though the vote was carried decisively by those against the cuts, Tsipras had little option to reject its outcome and negotiate a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency as well as distributing coupons to pensioners, the leader said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally had proved himself “unfit for a deal that required complex and sensitive management.”
Tsipras also claimed that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
This account of events has been met with anger and shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
