Within his newly released memoir, called Ithaki, the former premier Alexis Tsipras does not hold back while he examines the chaotic period of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, Tsipras chose the maverick economist Yanis Varoufakis as the treasury head largely because of his global profile and Varoufakis's highly compelling skills as a speaker.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis had a personal agenda which involved promoting Varoufakis's books as well as experimenting with his economic models using Greece instead of genuinely advocating the country's financial survival.
He wrote how those talks to prevent insolvency were “not just a way to secure a better deal for Greece. They were an experiment, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During volatile negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line was both the country's destiny but also the severe austerity measures demanded in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to find funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those punitive conditions were subjected to a public vote, an action that threw the EU into a deeper crisis of identity.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome then negotiate a bailout package with foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he relished his new role.”
After the minister outlined a contingency plan involving establishing a parallel currency as well as issuing coupons to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He also wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
This account of events has provoked fury along with shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
