In a freshly published memoir, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he examines the turbulent period of Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, he chose that unorthodox economist Yanis Varoufakis as his treasury head primarily due to the latter's worldwide fame and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis possessed a personal agenda that included advancing Varoufakis's books as well as testing out his own game theories using the nation rather than truly fighting for the country's economic stability.
Tsipras explained that the discussions to prevent bankruptcy were “not only a method to secure improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During rollercoaster negotiations, Greece came perilously on the brink of leaving the single currency area.
At stake lay not only Greece's future but also the punishing austerity policies required in return for rescue loans by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those punitive bailout terms were put to a popular referendum, an action which threw Europe into a deeper existential crisis.
Even though the vote was won resoundingly by voters against austerity, the prime minister was forced but to reject its outcome then agree to a bailout package with foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy involving establishing a secondary currency and issuing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself to be “unfit for an agreement demanding complex and sensitive handling.”
Tsipras further wrote that his aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
The account of history has provoked anger along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence on the matter.
