Within his newly released memoir, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the turbulent era of Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, he selected the maverick academic Yanis Varoufakis as his treasury head primarily because of the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, in reality, more like a personality and less of an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis possessed his own agenda that involved advancing his books as well as testing out his own game theories on the nation rather than truly fighting for the country's economic stability.
He wrote that those talks to avoid insolvency became “not only a way to secure a better deal for Greece. They were an experiment, an historic opportunity to prove the truth of his theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself perilously close to leaving the single currency area.
At stake was both Greece's future but also those punishing cutbacks required in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
That summer, the punitive conditions were subjected to a popular referendum, an action that plunged Europe into further crisis of identity.
Although the referendum was won decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome then agree to a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy involving creating a secondary currency as well as issuing vouchers to pensioners, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
He also wrote that his aggressive approach made him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for Grexit.
The account of history has been met with fury along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
