Within his recently unveiled memoir, titled Ithaki, the former leader Alexis Tsipras does not hold back as he revisits the turbulent period of Greece's debt drama.
An Unconventional Choice
In the ex-PM's version, Tsipras selected the unorthodox economist Yanis Varoufakis to be his finance minister largely due to the latter's worldwide fame and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more like a celebrity rather than an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief had a personal motives which included promoting his publications as well as testing out his own economic models using the nation rather than truly advocating its economic stability.
Tsipras explained that the discussions to stave off bankruptcy were “not only a method to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, the country found itself dangerously close to exiting the single currency area.
On the line was both Greece's future and the severe cutbacks demanded in return for bailout funds from foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum and Reversal
That summer, those excoriating bailout terms were put to a public vote, an action which threw Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras was forced to reject its outcome then negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was the end and asked him: “Is this for real?”
Lasting Criticism
In the memoir, the author asserts how his former ally had proved himself “unfit for an agreement demanding complex and sensitive management.”
Tsipras also wrote that his aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
The retelling of history has been met with anger along with stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
