Within his recently unveiled memoir, called Ithaki, the former leader Alexis Tsipras spares no criticism as he examines the chaotic period of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's version, Tsipras chose the maverick academic Yanis Varoufakis as his finance minister primarily due to the latter's worldwide fame along with Varoufakis's “extremely attractive” skills as a public orator.
“He was, truthfully, more of a star and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader claims how his finance chief had his own motives which included promoting Varoufakis's books as well as experimenting with his theories using Greece instead of truly fighting for the country's economic stability.
He explained how those negotiations to avoid bankruptcy were “not only a method to secure a better deal for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came perilously close to exiting the eurozone.
At stake lay both the country's future and those harsh cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those excoriating conditions were subjected to a public vote, an action that threw Europe into a further crisis of identity.
Although the referendum was won decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome then negotiate a rescue deal from creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency and distributing vouchers to retirees, the leader knew that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive management.”
He also wrote that his aggressive approach left him more and more alone among peers, endangered the country, while assisted hawks who were advocating Grexit.
This retelling of events has been met with fury and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
