In a freshly published personal account, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on the turbulent period during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's account, Tsipras chose the unorthodox economist Yanis Varoufakis as his treasury head mainly due to the latter's global profile along with Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis possessed a personal motives that involved promoting his publications as well as testing out his theories on the nation rather than truly advocating its economic stability.
Tsipras explained that those talks to stave off insolvency became “not only a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the truth of his economic theories.”
High-Stakes Talks
During tense discussions, the country found itself dangerously close to leaving the eurozone.
At stake lay both Greece's destiny and the harsh cutbacks required in return for financial aid from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those excoriating bailout terms were put to a public vote, a move that plunged the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency and distributing coupons to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how his former ally had proved himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras further claimed that his aggressive approach made him more and more alone among peers, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
