In a recently unveiled memoir, called Ithaki, the former leader Alexis Tsipras spares no criticism as he revisits that chaotic period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, Tsipras chose the unorthodox academic Yanis Varoufakis to be his finance minister primarily because of the latter's global profile along with his “extremely attractive” skills when it came to speaker.
“He was, actually, more like a personality and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras suggests that Varoufakis had his own agenda which involved promoting his books and experimenting with his own theories using Greece rather than genuinely fighting for the country's financial survival.
He wrote that those talks to stave off insolvency became “not only a way to secure a better deal for the country. They became a test, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
Amid rollercoaster discussions, Greece found itself dangerously on the brink of leaving the single currency area.
At stake lay both Greece's future and the severe cutbacks demanded in exchange for bailout funds by international creditors.
Failed Alternatives
Attempts to find financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those harsh bailout terms were subjected to a popular referendum, an action which plunged the EU into a further crisis of identity.
Even though the referendum was carried resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result then agree to a bailout package from foreign lenders which turned out to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who attracted publicity, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes how Varoufakis had proved himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
The account of events has been met with fury along with shock among certain groups, while the former minister has maintained a deafening silence on the matter.
