Within his newly released memoir, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he reflects on the chaotic period during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's recollections, he selected the maverick academic Yanis Varoufakis as the treasury head primarily because of the latter's international reputation along with his highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges how his finance chief had his own agenda that included promoting his publications and testing out his economic models on the nation instead of truly fighting for its financial survival.
He explained that those talks to prevent insolvency were “not only a method to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid tense discussions, Greece came perilously on the brink of leaving the single currency area.
On the line was not only Greece's destiny and the harsh austerity measures demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the harsh conditions were subjected to a public vote, a move that threw the EU into deeper crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a backup strategy involving creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement that required complex and delicate management.”
Tsipras further claimed that his confrontational style left him increasingly isolated among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The retelling of history has been met with fury and shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
