Within his newly released memoir, called Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits the chaotic era during Greece's debt drama.
A Controversial Choice
According to the ex-PM's recollections, he chose that unorthodox academic Yanis Varoufakis to be his treasury head mainly because of his global profile along with his highly compelling skills when it came to speaker.
“In reality, he was, actually, more like a star and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis had his own motives which involved promoting Varoufakis's publications as well as experimenting with his own economic models on the nation rather than genuinely advocating its financial survival.
Tsipras explained how the discussions to prevent bankruptcy were “not just a method to secure improved terms for the country. They became an experiment, a monumental chance to demonstrate the truth of his theories.”
Critical Talks
During volatile discussions, Greece came dangerously close to leaving the single currency area.
On the line was not only Greece's future but also the punishing austerity measures demanded in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, an action that plunged the EU into a further crisis of identity.
Even though the referendum was won decisively by those who opposed the cuts, the prime minister was forced to reject its outcome and negotiate a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy that included creating a secondary currency and issuing vouchers to retirees, the leader knew it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that Varoufakis had proved himself “unsuitable for an agreement demanding complex and sensitive management.”
He also wrote how his aggressive style made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
