Within his recently unveiled memoir, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he examines the turbulent period during Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, Tsipras appointed the maverick economist Yanis Varoufakis as the finance minister primarily because of his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis had a personal agenda that involved advancing Varoufakis's books as well as testing out his game theories using the nation instead of truly fighting for the country's economic stability.
He explained that those negotiations to avoid insolvency were “not only a way to secure a better deal for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came perilously on the brink of leaving the eurozone.
On the line was both the country's destiny but also those harsh austerity measures required in return for financial aid from foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action which plunged Europe into a further existential crisis.
Although the vote was carried decisively by those against the cuts, Tsipras had little option but to ignore the result and agree to a rescue deal from foreign lenders which proved to be even harsher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy involving creating a parallel currency and issuing vouchers to retirees, the leader knew it was game over and asked him: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate management.”
He further claimed that his confrontational approach left him more and more alone with colleagues, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
This account of history has been met with anger along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
