In a freshly published memoir, named Ithaki, the former leader Alexis Tsipras spares no criticism while he examines the chaotic era during Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, Tsipras selected the unorthodox economist Yanis Varoufakis to be his treasury head mainly due to his international reputation along with his “extremely attractive” skills when it came to speaker.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader suggests that his finance chief possessed a personal motives that included advancing his publications as well as experimenting with his economic models on Greece instead of truly fighting for its economic stability.
Tsipras noted that the negotiations to prevent bankruptcy were “not just a way of achieving improved terms for Greece. They became a test, an historic chance to prove the truth of his theories.”
Critical Talks
Amid volatile discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line lay not only the country's future and those harsh austerity policies demanded in return for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, a move which threw Europe into further existential crisis.
Although the vote was carried decisively by those who opposed the cuts, Tsipras had little option to ignore the result and agree to a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement that required complex and delicate management.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The account of events has provoked anger and shock in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.
