Within his recently unveiled memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits the turbulent period during Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, he appointed that maverick academic Yanis Varoufakis as the finance minister mainly because of the latter's global profile along with Varoufakis's very persuasive skills when it came to communicator.
“He was, in reality, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis had a personal motives that included advancing his books and testing out his theories using the nation rather than genuinely fighting for the country's economic stability.
Tsipras noted how the discussions to stave off bankruptcy became “not just a way to secure a better deal for the country. They were an experiment, a monumental opportunity to prove the validity of his theories.”
High-Stakes Negotiations
During volatile discussions, the country came dangerously close to leaving the single currency area.
At stake was not only the country's future and those harsh cutbacks required in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to find funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the harsh conditions were put to a popular referendum, an action that threw the EU into a deeper existential crisis.
Even though the vote was won resoundingly by voters against austerity, Tsipras had little option to ignore the result then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
When the minister proposed a backup strategy that included creating a secondary currency and issuing vouchers to retirees, the leader knew it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the book, the author asserts how Varoufakis had proved himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further claimed how Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were advocating Grexit.
This retelling of events has been met with anger and shock among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
