In a newly released autobiography, titled Ithaki, the former leader Alexis Tsipras does not hold back while he revisits that turbulent period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, he selected that unorthodox economist Yanis Varoufakis as his treasury head mainly because of his worldwide fame and his highly compelling abilities as a public orator.
“He was, in reality, more like a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras alleges that Varoufakis possessed his own agenda that included promoting Varoufakis's books and experimenting with his theories on Greece rather than genuinely fighting for its economic stability.
He noted how the negotiations to avoid bankruptcy were “not just a method of achieving improved terms for Greece. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Negotiations
During volatile discussions, Greece found itself perilously close to leaving the eurozone.
At stake lay not only Greece's future and the severe austerity measures demanded in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, an action which plunged the EU into further existential crisis.
Although the vote was won resoundingly by voters against austerity, Tsipras had little option but to ignore the result and negotiate a rescue deal from creditors that proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy involving establishing a secondary currency and issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself “unfit for a deal that required complex and sensitive handling.”
Tsipras further wrote that his confrontational approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were advocating Grexit.
The account of history has been met with fury and stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
