Within his freshly published memoir, named Ithaki, the former leader Alexis Tsipras pulls no punches while he examines the turbulent era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, Tsipras chose that maverick economist Yanis Varoufakis as the treasury head largely because of the latter's worldwide fame and his “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more like a celebrity and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis had his own agenda that included advancing Varoufakis's publications and testing out his own economic models on the nation instead of genuinely fighting for the country's economic stability.
Tsipras wrote how the talks to avoid insolvency became “not just a way to secure improved terms for Greece. They were an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
Amid tense discussions, the country came perilously close to exiting the eurozone.
At stake was not only Greece's destiny and those severe cutbacks demanded in return for financial aid from foreign lenders.
Failed Options
Efforts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a public vote, an action which threw the EU into a further crisis of identity.
Although the vote was won resoundingly by voters against the cuts, Tsipras was forced but to reject its outcome and agree to a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and issuing vouchers to retirees, the leader said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
He also claimed that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This retelling of events has been met with fury along with shock among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
