Within his recently unveiled autobiography, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits the turbulent period of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras appointed that maverick economist Yanis Varoufakis as his finance minister mainly due to the latter's international reputation and Varoufakis's highly compelling skills as a speaker.
“He was, in reality, more like a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief had his own motives which included advancing his books and testing out his own theories on Greece rather than genuinely fighting for the country's economic stability.
He noted how the talks to avoid insolvency became “not only a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
During rollercoaster discussions, Greece found itself perilously on the brink of exiting the single currency area.
On the line was not only Greece's destiny but also those severe cutbacks demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the excoriating conditions were subjected to a popular referendum, an action which plunged the EU into further existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome then agree to a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency and issuing coupons to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally had proved himself “unfit for an agreement that required complex and sensitive management.”
He also claimed how Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
