In a newly released memoir, titled Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he appointed that maverick academic Yanis Varoufakis as his finance minister largely because of the latter's global profile along with his highly compelling abilities as a communicator.
“In reality, he was, actually, more like a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis had a personal agenda that involved advancing his books as well as experimenting with his own theories on the nation rather than truly fighting for its economic stability.
He wrote that those negotiations to avoid insolvency became “not just a way to secure improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself dangerously close to exiting the eurozone.
On the line was both the country's future and the harsh cutbacks demanded in return for rescue loans by international creditors.
Failed Options
Efforts to secure financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the punitive bailout terms were subjected to a public vote, an action which plunged the EU into a further crisis of identity.
Although the vote was carried resoundingly by voters against austerity, the prime minister was forced but to ignore the result then negotiate a bailout package with creditors that turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts how his former ally demonstrated himself “unfit for an agreement that required intricate and delicate management.”
He further claimed how Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were advocating Grexit.
This account of events has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
