In a newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits the chaotic era during Greece's economic turmoil.
A Controversial Choice
In Tsipras's version, Tsipras selected the unorthodox economist Yanis Varoufakis as his finance minister largely due to his worldwide fame and Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis possessed his own motives which included advancing his books and experimenting with his theories on the nation rather than truly fighting for the country's economic stability.
He noted that the discussions to stave off insolvency were “not just a method to secure improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of his theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself perilously close to exiting the eurozone.
On the line was not only Greece's destiny and those punishing cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the harsh bailout terms were subjected to a popular referendum, an action which threw the EU into further existential crisis.
Although the vote was won resoundingly by those who opposed the cuts, the prime minister was forced to ignore the result and agree to a rescue deal from foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency and distributing vouchers to retirees, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and sensitive handling.”
He also claimed how his confrontational approach left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
