Within his recently unveiled personal account, titled Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on the turbulent era of Greece's debt drama.
A Controversial Choice
In Tsipras's recollections, Tsipras appointed that unorthodox economist Yanis Varoufakis to be the treasury head mainly because of the latter's international reputation along with Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, in reality, more like a star and less of an economist,” stated the 51-year-old.
Clashing Priorities
The former leader suggests how his finance chief had his own motives which involved promoting his books as well as experimenting with his game theories using the nation instead of genuinely fighting for its financial survival.
He wrote that the negotiations to prevent bankruptcy were “not just a way to secure improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the validity of his theories.”
Critical Negotiations
During tense discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay not only the country's destiny and those harsh austerity policies demanded in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to find financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were put to a public vote, a move which threw the EU into further existential crisis.
Although the referendum was carried resoundingly by voters who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal from creditors that turned out 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 man who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for an agreement that required complex and delicate management.”
He also wrote that his aggressive style left him more and more alone among peers, put Greece at risk, while assisted hardliners who were advocating a Greek exit from the euro.
This account of events has provoked anger along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
