In a recently unveiled memoir, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines that chaotic era during Greece's economic turmoil.
A Controversial Choice
In Tsipras's account, Tsipras chose that unorthodox academic Yanis Varoufakis as the treasury head mainly due to the latter's international reputation along with his “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a personality and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis had a personal agenda that involved advancing Varoufakis's books as well as experimenting with his own economic models on the nation rather than genuinely advocating the country's financial survival.
He explained that those discussions to stave off bankruptcy became “not only a way of achieving improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his theories.”
Critical Talks
Amid rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
At stake lay not only Greece's destiny but also the harsh austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those excoriating conditions were subjected to a public vote, an action which plunged Europe into a further existential crisis.
Even though the vote was won decisively by voters who opposed austerity, the prime minister had little option to ignore the result then negotiate a bailout package from creditors that proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy involving creating a secondary currency as well as distributing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
He also claimed that his aggressive style made him increasingly isolated among peers, endangered the country, while helped hardliners who were pushing for Grexit.
This retelling of history has provoked anger along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence on the matter.
