Within his recently unveiled memoir, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines the turbulent period of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, Tsipras appointed the maverick economist Yanis Varoufakis to be the treasury head largely due to his global profile along with Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, actually, more of a star rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that his finance chief had a personal agenda which included promoting his books as well as experimenting with his own theories on Greece instead of truly fighting for its financial survival.
Tsipras explained how those negotiations to stave off bankruptcy were “not only a way of achieving a better deal for Greece. They were an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
During tense discussions, Greece found itself perilously on the brink of exiting the eurozone.
At stake lay not only Greece's destiny but also those punishing austerity measures demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the excoriating bailout terms were put to a popular referendum, a move that threw the EU into a further crisis of identity.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome then agree to a bailout package from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications globally … it seemed he relished his new role.”
When the minister outlined a contingency plan involving establishing a secondary currency and issuing coupons to retirees, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras concludes how his former ally had proved himself to be “unsuitable for a deal demanding intricate and sensitive management.”
He also claimed that his confrontational style made him increasingly isolated among peers, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief among certain groups, while the former minister has kept a deafening silence regarding these claims.
