Within his recently unveiled autobiography, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines that chaotic period of Greece's debt drama.
A Controversial Choice
In Tsipras's recollections, Tsipras appointed that unorthodox economist Yanis Varoufakis as the finance minister mainly due to his international reputation along with his “extremely attractive” skills when it came to communicator.
“In reality, he was, actually, more like a celebrity and less of an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis had his own motives which included promoting his books as well as testing out his theories using Greece instead of genuinely advocating its financial survival.
Tsipras explained that the discussions to avoid insolvency were “not only a way of achieving improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of his economic theories.”
Critical Talks
Amid rollercoaster negotiations, the country found itself perilously close to leaving the eurozone.
At stake lay both Greece's destiny and the severe austerity policies required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were put to a public vote, an action which threw Europe into further crisis of identity.
Even though the vote was carried resoundingly by those who opposed the cuts, Tsipras was forced but to ignore the result and agree to a bailout package from foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author concludes that his former ally demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
He also wrote how Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
This account of events has provoked fury along with shock among certain groups, while the former minister has so far maintained a deafening silence on the matter.
