Within his newly released memoir, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on the turbulent era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras chose the unorthodox economist Yanis Varoufakis as the treasury head mainly because of the latter's international reputation and Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more like a star rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis possessed his own agenda that involved promoting Varoufakis's books and testing out his own economic models on Greece rather than genuinely advocating the country's economic stability.
Tsipras wrote how those discussions to stave off insolvency were “not just a method to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During rollercoaster discussions, the country found itself dangerously close to leaving the eurozone.
At stake was not only Greece's future and those punishing austerity measures demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, an action which plunged the EU into a further existential crisis.
Even though the referendum was won decisively by voters who opposed austerity, the prime minister had little option to ignore the result and negotiate a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, 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 outlined a backup strategy involving establishing a parallel currency and distributing vouchers to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive management.”
He also wrote how his aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were pushing for Grexit.
The retelling of events has provoked fury along with shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
