In a recently unveiled personal account, titled Ithaki, the former leader Alexis Tsipras does not hold back while he revisits the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, Tsipras selected that unorthodox academic Yanis Varoufakis as the treasury head largely due to the latter's global profile along with Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Priorities
Tsipras alleges that his finance chief had a personal motives that involved promoting his books and experimenting with his theories using the nation rather than truly advocating its financial survival.
He noted that those negotiations to prevent bankruptcy were “not only a way to secure a better deal for the country. They were a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Negotiations
During rollercoaster discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line lay both the country's destiny but also the harsh austerity measures demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, an action that threw Europe into a further crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras was forced but to ignore the result then negotiate a bailout package with creditors that proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate handling.”
He also wrote that his confrontational style left him more and more alone among peers, endangered the country, while helped hawks who were advocating Grexit.
This account of history has provoked anger and stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
