Within his recently unveiled memoir, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he examines the turbulent period of Greece's debt drama.
A Controversial Choice
In the ex-PM's account, he selected the maverick economist Yanis Varoufakis to be his finance minister mainly because of the latter's global profile and his highly compelling skills as a public orator.
“He was, truthfully, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis possessed his own agenda which included promoting his books and testing out his game theories on the nation instead of genuinely advocating the country's economic stability.
He explained how those discussions to prevent insolvency were “not only a method of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came perilously close to leaving the single currency area.
On the line lay not only Greece's destiny but also those harsh austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move which plunged Europe into further crisis of identity.
Although the referendum was won resoundingly by voters who opposed austerity, the prime minister had little option but to ignore the result then agree to a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
After the minister outlined a backup strategy involving creating a secondary currency as well as issuing vouchers to retirees, the leader knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts how Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate handling.”
He also claimed that his aggressive approach made him increasingly isolated among peers, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
The retelling of events has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
