In a recently unveiled personal account, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines the turbulent era during Greece's debt drama.
A Controversial Appointment
As per Tsipras's version, Tsipras selected the maverick academic Yanis Varoufakis to be the treasury head primarily due to his international reputation along with Varoufakis's “extremely attractive” abilities as a communicator.
“He was, truthfully, more like a star and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis had his own agenda that involved advancing his books and testing out his own economic models using Greece instead of genuinely fighting for its economic stability.
Tsipras wrote how the discussions to prevent insolvency became “not just a way of achieving improved terms for the country. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid volatile discussions, the country came dangerously close to leaving the single currency area.
At stake lay not only Greece's future and those harsh austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were put to a public vote, an action which threw Europe into further existential crisis.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras had little option to ignore the result and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing vouchers to pensioners, the leader said he realised it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the book, the author concludes that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras further claimed how his confrontational approach made him more and more alone among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
