In a recently unveiled memoir, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on the chaotic period of Greece's financial crisis.
A Controversial Choice
In the ex-PM's account, he chose the maverick economist Yanis Varoufakis as the treasury head largely because of the latter's international reputation and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader claims that Varoufakis had a personal agenda that involved advancing his books and testing out his own theories on Greece rather than genuinely advocating its economic stability.
He wrote that those talks to prevent insolvency were “not only a way to secure a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of his ideas.”
Critical Negotiations
During volatile negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake was not only the country's future but also those harsh austerity measures required in exchange for rescue loans from international creditors.
Unsuccessful Options
Efforts to find financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action that plunged the EU into further existential crisis.
Although the vote was carried decisively by those against the cuts, the prime minister was forced but to ignore the result and negotiate a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving establishing a parallel currency and distributing coupons to retirees, the leader knew it was the end questioning him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and delicate management.”
He further wrote that his aggressive approach left him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
This account of events has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
