Within his freshly published memoir, named Ithaki, the former premier Alexis Tsipras does not hold back while he examines the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, Tsipras selected the unorthodox academic Yanis Varoufakis as the finance minister largely due to his worldwide fame along with his “extremely attractive” skills when it came to public orator.
“He was, truthfully, more like a personality and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief possessed his own motives that involved promoting his publications and testing out his game theories on Greece instead of truly fighting for its financial survival.
Tsipras noted that those talks to prevent bankruptcy became “not just a method to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster negotiations, Greece found itself perilously on the brink of exiting the eurozone.
At stake was both the country's destiny but also the punishing austerity policies demanded in return for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action that threw Europe into a further crisis of identity.
Even though the referendum was won decisively by voters against austerity, Tsipras was forced to ignore the result and negotiate a bailout package with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive handling.”
He further claimed that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
This retelling of history has been met with anger along with shock in some quarters, while the former minister has kept a conspicuous quiet on the matter.
