In a recently unveiled memoir, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he reflects on that turbulent period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, he chose that unorthodox economist Yanis Varoufakis as the finance minister primarily due to the latter's worldwide fame and Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, truthfully, more like a star rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed a personal motives that involved promoting his books and testing out his economic models on Greece rather than truly fighting for the country's economic stability.
Tsipras noted that the talks to prevent bankruptcy were “not only a way of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of his theories.”
Critical Talks
During tense discussions, the country found itself perilously close to leaving the single currency area.
On the line was not only the country's future and those punishing austerity measures required in return for bailout funds from international creditors.
Failed Options
Attempts to secure funds from other sources, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those punitive conditions were subjected to a public vote, an action which threw Europe into further existential crisis.
Although the vote was carried decisively by voters against austerity, the prime minister had little option but to ignore the result then agree to a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and distributing coupons to retirees, the leader knew it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the book, the author asserts that his former ally demonstrated himself to be “unfit for an agreement that required complex and sensitive handling.”
Tsipras also claimed that his aggressive style made him more and more alone among peers, endangered the country, while assisted hawks who were pushing for Grexit.
This retelling of history has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
