In a newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on the chaotic era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's account, Tsipras appointed the maverick economist Yanis Varoufakis as the treasury head largely due to the latter's international reputation along with Varoufakis's “extremely attractive” abilities as a public orator.
“He was, actually, more like a star and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis had a personal motives which involved promoting Varoufakis's books and testing out his theories on Greece rather than genuinely advocating its economic stability.
He noted how those talks to prevent bankruptcy were “not just a way to secure improved terms for Greece. They became a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile negotiations, the country found itself dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny but also the severe cutbacks required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and Reversal
In July 2015, those harsh conditions were put to a public vote, a move that plunged Europe into further crisis of identity.
Although the vote was won decisively by those against the cuts, Tsipras had little option to ignore the result and negotiate a rescue deal from creditors that turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan involving establishing a parallel currency as well as distributing coupons to pensioners, Tsipras knew it was game over and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes that Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras also wrote how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were advocating Grexit.
This account of history has been met with anger along with shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
