Within his freshly published memoir, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he reflects on the turbulent period during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's recollections, Tsipras appointed the maverick economist Yanis Varoufakis as the treasury head primarily because of the latter's international reputation and his very persuasive abilities when it came to public orator.
“He was, actually, more like a star and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras alleges how his finance chief possessed a personal agenda which involved promoting Varoufakis's publications and experimenting with his own economic models using the nation instead of genuinely fighting for the country's economic stability.
Tsipras noted that the talks to avoid insolvency became “not only a method of achieving a better deal for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
During rollercoaster discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line lay both Greece's destiny but also those harsh cutbacks demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the harsh conditions were put to a public vote, an action that plunged the EU into deeper crisis of identity.
Although the vote was carried decisively by voters against austerity, the prime minister had little option to reject its outcome and agree to a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency as well as issuing vouchers to retirees, Tsipras knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, the author concludes how his former ally demonstrated himself to be “unfit for an agreement that required complex and delicate management.”
Tsipras also claimed that his confrontational approach made him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
