In a newly released autobiography, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on the chaotic period of Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, Tsipras selected the unorthodox academic Yanis Varoufakis as his finance minister mainly because of the latter's worldwide fame along with Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, actually, more of a personality and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis had his own agenda that involved promoting Varoufakis's publications as well as testing out his economic models using Greece rather than truly advocating its financial survival.
He noted that the talks to prevent insolvency became “not just a method to secure a better deal for the country. They were an experiment, an historic chance to prove the validity of his theories.”
High-Stakes Talks
Amid tense discussions, the country came perilously on the brink of leaving the single currency area.
On the line lay not only Greece's future and the severe austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the punitive conditions were subjected to a popular referendum, an action that plunged the EU into deeper existential crisis.
Although the referendum was won resoundingly by voters against austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
He also wrote that his confrontational approach left him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were advocating Grexit.
This account of events has provoked anger along with shock in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
