In a freshly published personal account, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he examines that chaotic era during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, he appointed that maverick academic Yanis Varoufakis to be his treasury head primarily because of his global profile along with Varoufakis's “extremely attractive” skills when it came to speaker.
“In reality, he was, actually, more like a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had a personal agenda which included promoting his books and experimenting with his theories on Greece rather than genuinely fighting for the country's economic stability.
Tsipras noted how the discussions to stave off insolvency became “not just a way to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of his ideas.”
High-Stakes Talks
Amid rollercoaster discussions, Greece came perilously close to leaving the single currency area.
On the line lay not only Greece's destiny but also those harsh austerity policies demanded in exchange for financial aid by foreign lenders.
Failed Options
Efforts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the harsh conditions were put to a public vote, a move that threw Europe into a deeper existential crisis.
Even though the vote was won decisively by those against austerity, Tsipras had little option to ignore the result and negotiate a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving establishing a parallel currency as well as issuing coupons to pensioners, Tsipras knew it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes how Varoufakis had proved himself “unfit for a deal demanding complex and delicate management.”
Tsipras further claimed that his confrontational approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
