Within his newly released memoir, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he examines that chaotic period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, Tsipras chose the unorthodox academic Yanis Varoufakis to be the treasury head primarily because of his global profile along with Varoufakis's highly compelling abilities as a speaker.
“He was, actually, more like a star and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader alleges that his finance chief possessed a personal agenda that involved promoting his books and testing out his game theories on the nation instead of genuinely fighting for its economic stability.
Tsipras noted that the negotiations to stave off bankruptcy were “not only a method to secure improved terms for the country. They were a test, an historic chance to demonstrate the validity of his ideas.”
Critical Talks
Amid rollercoaster discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line was not only the country's future but also the punishing cutbacks required in exchange for financial aid by international creditors.
Failed Options
Efforts to find financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the excoriating conditions were subjected to a popular referendum, an action which threw Europe into further existential crisis.
Even though the vote was won decisively by those who opposed austerity, Tsipras had little option to ignore the result then negotiate a rescue deal with creditors that proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate handling.”
He further claimed that Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, while helped hawks who were advocating Grexit.
The retelling of events has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
