In a newly released memoir, named Ithaki, the former leader Alexis Tsipras does not hold back while he revisits the chaotic era during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's recollections, he chose the unorthodox economist Yanis Varoufakis to be the finance minister primarily because of his international reputation and his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more of a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader suggests how Varoufakis had a personal motives which included advancing his books and experimenting with his own game theories on Greece instead of genuinely fighting for its economic stability.
Tsipras noted that the negotiations to stave off bankruptcy were “not only a method of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid tense negotiations, the country came dangerously close to leaving the single currency area.
On the line was not only Greece's future but also those severe austerity measures demanded in return for bailout funds by international creditors.
Failed Options
Attempts to secure funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the punitive conditions were put to a public vote, an action which plunged Europe into a deeper existential crisis.
Although the vote was won decisively by voters against the cuts, Tsipras had little option but to ignore the result then negotiate a bailout package from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, Tsipras said he realised it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras concludes how Varoufakis demonstrated himself “unfit for a deal that required intricate and sensitive management.”
Tsipras further claimed how Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
The retelling of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
