In a recently unveiled memoir, titled Ithaki, the former premier Alexis Tsipras does not hold back while he examines the turbulent era of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, Tsipras chose that unorthodox economist Yanis Varoufakis to be the treasury head mainly because of the latter's international reputation along with Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief had a personal motives which involved promoting Varoufakis's books and experimenting with his own theories on Greece instead of genuinely advocating the country's economic stability.
Tsipras wrote that the discussions to stave off bankruptcy were “not only a way of achieving a better deal for the country. They were a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
Amid tense discussions, Greece came perilously on the brink of leaving the eurozone.
On the line was not only Greece's future and those harsh austerity measures demanded in exchange for bailout funds from international creditors.
Failed Options
Attempts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the harsh bailout terms were subjected to a public vote, an action that threw Europe into a further existential crisis.
Although the vote was carried resoundingly by those against the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency and issuing vouchers to pensioners, the leader knew that it was the end and asked him: “Are you serious?”
Enduring Criticism
In the book, the author asserts that Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive handling.”
He also claimed that his confrontational approach made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating Grexit.
This retelling of events has provoked anger and stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.
