Within his newly released memoir, called Ithaki, the former prime minister Alexis Tsipras spares no criticism as he reflects on the chaotic period of Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras chose the unorthodox economist Yanis Varoufakis to be the finance minister primarily because of the latter's international reputation and his highly compelling skills when it came to public orator.
“In reality, he was, in reality, more like a personality and less of an economist,” recalled Tsipras.
Clashing Agendas
Tsipras claims how his finance chief had a personal agenda which involved advancing his books as well as testing out his theories on the nation rather than truly advocating the country's financial survival.
He explained that the discussions to avoid bankruptcy were “not just a way of achieving improved terms for Greece. They were a test, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
Amid tense negotiations, Greece came perilously on the brink of exiting the eurozone.
On the line lay both Greece's destiny and those punishing austerity measures demanded in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, the punitive conditions were subjected to a popular referendum, an action that plunged the EU into a further crisis of identity.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister had little option to ignore the result and negotiate a bailout package from creditors which proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a secondary currency as well as distributing coupons to retirees, the leader knew that it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes that his former ally had proved himself to be “unfit for a deal that required complex and sensitive management.”
Tsipras also claimed how his aggressive approach made him more and more alone with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
The account of history has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
