In a freshly published autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on the chaotic period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, he selected the unorthodox academic Yanis Varoufakis as his finance minister primarily because of the latter's global profile along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, in reality, more like a personality rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests that his finance chief possessed a personal agenda that involved advancing his books as well as experimenting with his own economic models using the nation instead of genuinely fighting for its economic stability.
Tsipras wrote that the negotiations to prevent insolvency were “not only a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
At stake was both the country's destiny but also the harsh austerity measures required in return for financial aid by international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, the punitive conditions were put to a public vote, a move that plunged Europe into deeper existential crisis.
Although the referendum was carried decisively by those who opposed austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself “unfit for a deal demanding complex and sensitive management.”
Tsipras further claimed how his aggressive approach left him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating Grexit.
This account of events has been met with anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
