Within his recently unveiled memoir, titled Ithaki, the ex- leader Alexis Tsipras does not hold back while he examines the turbulent era of Greece's debt drama.
A Controversial Choice
According to Tsipras's version, he appointed that maverick economist Yanis Varoufakis as his finance minister primarily because of his international reputation and Varoufakis's highly compelling skills as a communicator.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief had a personal agenda that included promoting his books and testing out his own theories on the nation instead of genuinely advocating the country's economic stability.
He wrote that those discussions to avoid bankruptcy were “not only a method of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the truth of his economic theories.”
Critical Talks
During rollercoaster discussions, Greece came perilously close to exiting the single currency area.
On the line was not only the country's future and the severe cutbacks required in exchange for bailout funds from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those excoriating bailout terms were subjected to a popular referendum, an action that plunged Europe into a further crisis of identity.
Even though the referendum was won decisively by voters against austerity, Tsipras had little option to ignore the result and agree to a bailout package from creditors that proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to retirees, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for a deal that required intricate and sensitive handling.”
He further wrote how his confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has been met with fury along with stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
