Within his recently unveiled memoir, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, Tsipras selected that unorthodox economist Yanis Varoufakis to be his finance minister mainly due to his worldwide fame along with his highly compelling skills when it came to communicator.
“He was, truthfully, more like a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief had a personal agenda which involved promoting Varoufakis's books as well as experimenting with his own game theories using the nation instead of genuinely fighting for its financial survival.
He noted how the negotiations to prevent insolvency became “not just a way to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster discussions, Greece came dangerously close to leaving the eurozone.
At stake lay not only the country's destiny but also the harsh austerity measures demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the harsh bailout terms were put to a public vote, a move that threw the EU into a further existential crisis.
Although the vote was carried decisively by those who opposed the cuts, the prime minister had little option but to ignore the result then agree to a bailout package with creditors which proved to be tougher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a secondary currency and issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, the author concludes that his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras further wrote how his aggressive style made him increasingly isolated among peers, put Greece at risk, and helped hardliners that were advocating Grexit.
This retelling of history has been met with anger and stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
