Within his newly released memoir, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism as he examines that turbulent era of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, he chose that unorthodox academic Yanis Varoufakis as his finance minister primarily due to his international reputation and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief had his own agenda that included advancing his publications as well as experimenting with his economic models on Greece rather than truly advocating its economic stability.
Tsipras explained that those negotiations to stave off bankruptcy were “not only a method to secure improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously close to leaving the single currency area.
At stake was both Greece's future and those severe austerity measures demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, a move that threw Europe into deeper crisis of identity.
Although the referendum was won decisively by voters against the cuts, Tsipras was forced but to ignore the result and agree to a rescue deal from creditors which turned out to be more severe.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who attracted publicity, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras knew that it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts that Varoufakis had proved himself to be “unfit for a deal demanding intricate and delicate handling.”
Tsipras also claimed how his aggressive style made him more and more alone with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
