Within his newly released memoir, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on the chaotic era during Greece's debt drama.
An Unconventional Choice
In Tsipras's version, Tsipras chose the unorthodox academic Yanis Varoufakis to be his treasury head largely because of the latter's worldwide fame and Varoufakis's highly compelling skills when it came to communicator.
“He was, in reality, more like a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed a personal agenda which involved advancing Varoufakis's publications as well as experimenting with his game theories using Greece rather than truly fighting for its economic stability.
Tsipras wrote how those negotiations to prevent insolvency were “not only a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
Critical Talks
Amid volatile discussions, the country came perilously close to leaving the single currency area.
On the line was not only the country's destiny and those punishing cutbacks demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Helping Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, an action which threw the EU into further existential crisis.
Even though the referendum was won decisively by voters against austerity, Tsipras was forced but to reject its outcome then agree to a bailout package from creditors that turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency and distributing vouchers to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts how his former ally had proved himself to be “unfit for a deal that required complex and sensitive handling.”
Tsipras further claimed how his confrontational style left him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
This account of events has been met with fury and stunned disbelief in some quarters, while the former minister has kept a deafening silence regarding these claims.
