In a recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines the chaotic era during Greece's debt drama.
A Controversial Appointment
In Tsipras's recollections, he appointed that maverick academic Yanis Varoufakis as his treasury head primarily due to his worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.
“He was, truthfully, more of a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges that his finance chief possessed his own motives that included advancing Varoufakis's publications as well as experimenting with his economic models on Greece instead of truly fighting for the country's financial survival.
Tsipras wrote that those discussions to prevent insolvency were “not just a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself dangerously close to exiting the eurozone.
On the line lay not only the country's destiny but also those severe austerity policies demanded in return for bailout funds from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the punitive conditions were put to a public vote, an action which threw the EU into a deeper existential crisis.
Although the vote was carried decisively by voters against the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
Tsipras also claimed how his aggressive style made him more and more alone among peers, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked anger and shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
