Within his recently unveiled autobiography, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he reflects on that chaotic period during Greece's debt drama.
An Unconventional Choice
As per Tsipras's recollections, Tsipras appointed the unorthodox economist Yanis Varoufakis as his treasury head mainly because of his international reputation and his “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief possessed a personal motives that included promoting Varoufakis's books as well as testing out his own economic models using the nation instead of genuinely advocating the country's economic stability.
He wrote that the discussions to avoid insolvency were “not just a method of achieving a better deal for Greece. They were a test, a monumental chance to prove the truth of his ideas.”
Critical Talks
Amid volatile discussions, the country came perilously on the brink of exiting the eurozone.
On the line was not only the country's destiny and the punishing austerity measures demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, those harsh bailout terms were subjected to a public vote, a move which threw the EU into a deeper crisis of identity.
Even though the referendum was won decisively by those against austerity, Tsipras was forced but to ignore the result and negotiate a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy involving creating a secondary currency as well as issuing vouchers to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the book, the author asserts how his former ally demonstrated himself “unfit for an agreement that required intricate and delicate management.”
Tsipras also wrote how his confrontational style left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
