In a newly released memoir, called Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines the turbulent era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, Tsipras chose the unorthodox economist Yanis Varoufakis to be his finance minister largely because of his worldwide fame along with his “extremely attractive” skills when it came to communicator.
“He was, actually, more like a star and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims that his finance chief had a personal agenda that included promoting Varoufakis's publications as well as testing out his own theories using Greece instead of genuinely fighting for the country's financial survival.
Tsipras noted that those discussions to stave off bankruptcy were “not only a method of achieving improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself perilously on the brink of exiting the single currency area.
At stake lay both Greece's destiny and those harsh austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which plunged Europe into deeper existential crisis.
Even though the referendum was carried resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result and agree to a bailout package with foreign lenders which proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing vouchers to retirees, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author asserts that his former ally had proved himself to be “unsuitable for a deal that required complex and sensitive handling.”
Tsipras further wrote how his confrontational approach made him more and more alone among peers, put Greece at risk, and helped hawks who were advocating Grexit.
The retelling of events has provoked fury along with shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
