In a recently unveiled memoir, named Ithaki, the former premier Alexis Tsipras spares no criticism as he examines the chaotic period of Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, he appointed that unorthodox economist Yanis Varoufakis as the treasury head primarily because of his international reputation along with Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, in reality, more of a personality rather than an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief had a personal motives which involved promoting his publications and experimenting with his game theories using the nation instead of truly advocating the country's economic stability.
Tsipras wrote how the talks to avoid insolvency became “not just a method to secure a better deal for the country. They became a test, a monumental opportunity to prove the truth of his economic theories.”
Critical Negotiations
During rollercoaster negotiations, the country came perilously close to leaving the eurozone.
At stake lay both Greece's destiny and those severe cutbacks demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were put to a popular referendum, an action that threw Europe into further existential crisis.
Even though the referendum was won resoundingly by voters against austerity, the prime minister was forced to ignore the result and negotiate a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who drew publicity, who graced the covers of publications globally … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency as well as distributing vouchers to retirees, the leader knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, the author asserts how his former ally demonstrated himself “unsuitable for a deal that required intricate and sensitive handling.”
He further claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and helped hardliners who were advocating Grexit.
The retelling of history has provoked anger and stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
