In a newly released autobiography, titled Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits the chaotic period of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, he chose the unorthodox academic Yanis Varoufakis as his treasury head mainly because of his global profile and Varoufakis's highly compelling skills as a public orator.
“He was, actually, more like a star rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief possessed a personal motives which involved promoting Varoufakis's books and experimenting with his own theories using the nation instead of genuinely fighting for its economic stability.
He explained how the talks to avoid bankruptcy became “not just a method of achieving improved terms for Greece. They became an experiment, a monumental chance to prove the truth of his theories.”
Critical Talks
During rollercoaster negotiations, Greece found itself perilously close to exiting the eurozone.
At stake lay not only Greece's destiny and those severe austerity measures required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including an urgent plea to Russia to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the harsh conditions were put to a public vote, a move which threw Europe into a further existential crisis.
Even though the referendum was won resoundingly by voters against austerity, Tsipras had little option to reject its outcome and agree to a rescue deal from creditors which proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy that included creating a parallel currency as well as issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and sensitive management.”
He further claimed that his aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This retelling of history has been met with fury along with shock in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
