Within his freshly published memoir, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he examines the turbulent era during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras selected that unorthodox economist Yanis Varoufakis to be his finance minister largely due to the latter's worldwide fame along with Varoufakis's highly compelling skills as a speaker.
“He was, in reality, more of a personality and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader suggests that Varoufakis possessed his own agenda which involved advancing his books and testing out his own theories using the nation instead of genuinely fighting for its financial survival.
He wrote how the talks to prevent bankruptcy became “not only a method of achieving improved terms for Greece. They were a test, an historic chance to demonstrate the truth of his ideas.”
Critical Talks
During rollercoaster negotiations, Greece found itself perilously on the brink of leaving the single currency area.
On the line was not only the country's future and the punishing austerity policies required in return for bailout funds from international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those punitive conditions were put to a public vote, a move which threw the EU into a deeper existential crisis.
Even though the vote was won decisively by voters who opposed austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal from creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a secondary currency and issuing vouchers to retirees, Tsipras knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes how Varoufakis had proved himself “unfit for an agreement that required intricate and delicate handling.”
He further wrote how his aggressive style left him more and more alone among peers, put Greece at risk, while assisted hardliners who were pushing for Grexit.
This account of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
