Within his recently unveiled memoir, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism as he examines the turbulent period of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's account, Tsipras appointed the unorthodox academic Yanis Varoufakis to be the finance minister primarily because of the latter's international reputation and Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief had a personal motives that included advancing his publications and testing out his own game theories using the nation rather than truly fighting for the country's financial survival.
Tsipras explained how those negotiations to prevent bankruptcy became “not just a method to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During rollercoaster negotiations, the country came perilously close to exiting the eurozone.
At stake was both the country's future and the harsh cutbacks demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a public vote, an action that threw the EU into further existential crisis.
Although the referendum was carried decisively by those against austerity, the prime minister had little option but to ignore the result then negotiate a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was game over and asked him: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes that his former ally demonstrated himself “unfit for a deal that required complex and sensitive management.”
He also claimed how his confrontational approach made him more and more alone with colleagues, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This retelling of history has been met with fury along with shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
