Within his freshly published autobiography, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines that turbulent era of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, he chose that maverick economist Yanis Varoufakis to be his treasury head primarily due to the latter's worldwide fame and Varoufakis's highly compelling abilities when it came to communicator.
“He was, in reality, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis possessed his own agenda that involved advancing his books as well as experimenting with his own economic models using Greece instead of truly advocating its economic stability.
Tsipras explained that the discussions to avoid insolvency were “not only a method to secure improved terms for Greece. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense discussions, Greece found itself perilously on the brink of exiting the single currency area.
At stake lay not only the country's destiny but also those punishing austerity policies demanded in return for financial aid by international creditors.
Failed Options
Efforts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were put to a public vote, a move which plunged Europe into further existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, Tsipras knew it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how his former ally had proved himself “unfit for an agreement that required intricate and delicate handling.”
Tsipras also claimed that his confrontational approach left him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
This account of history has provoked anger and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
