Within his freshly published memoir, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines the turbulent period during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's version, Tsipras selected the maverick economist Yanis Varoufakis to be his treasury head primarily because of the latter's worldwide fame and his very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed a personal agenda that involved advancing Varoufakis's books as well as experimenting with his own economic models on Greece rather than truly fighting for the country's financial survival.
He wrote that the discussions to prevent bankruptcy became “not only a way of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself perilously close to exiting the single currency area.
On the line was both Greece's destiny but also the harsh austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were put to a public vote, a move that plunged Europe into further crisis of identity.
Even though the referendum was won decisively by those against the cuts, Tsipras had little option but to reject its outcome and agree to a bailout package with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras knew it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive management.”
He also claimed that his aggressive style left him more and more alone among peers, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
The account of history has been met with anger and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
