In a newly released memoir, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits that turbulent era of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, he chose that unorthodox academic Yanis Varoufakis as his treasury head primarily due to the latter's international reputation and his highly compelling skills when it came to communicator.
“He was, in reality, more like a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims that his finance chief possessed his own motives that included advancing Varoufakis's books and testing out his economic models on the nation rather than truly fighting for its economic stability.
He explained how those discussions to stave off bankruptcy became “not just a way to secure a better deal for Greece. They became an experiment, an historic chance to demonstrate the truth of his theories.”
Critical Negotiations
During tense discussions, Greece came dangerously close to exiting the eurozone.
At stake lay both the country's destiny but also those severe austerity measures demanded in return for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
That summer, the excoriating conditions were subjected to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He further wrote how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hawks that were pushing for Grexit.
This retelling of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
