Within his recently unveiled memoir, named Ithaki, the former premier Alexis Tsipras pulls no punches as he revisits the turbulent period of Greece's debt drama.
An Unconventional Appointment
In Tsipras's version, he appointed that maverick academic Yanis Varoufakis as his treasury head primarily due to his international reputation along with his “extremely attractive” skills as a speaker.
“He was, truthfully, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras claims how his finance chief possessed his own agenda which involved advancing Varoufakis's books and testing out his own theories on the nation instead of truly fighting for the country's economic stability.
Tsipras noted how those discussions to stave off insolvency were “not just a way to secure a better deal for Greece. They became an experiment, an historic chance to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself perilously close to exiting the single currency area.
On the line was not only Greece's future but also those harsh austerity measures demanded in return for bailout funds from foreign lenders.
Failed Options
Efforts to find financing from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the punitive conditions were put to a public vote, an action that plunged Europe into a deeper crisis of identity.
Although the vote was won resoundingly by voters against the cuts, Tsipras had little option but to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy that included creating a secondary currency and distributing coupons to retirees, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts that Varoufakis had proved himself “unfit for an agreement that required intricate and delicate handling.”
Tsipras also claimed that his confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
This retelling of events has provoked fury along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
