Within his freshly published memoir, called Ithaki, the former leader Alexis Tsipras pulls no punches while he revisits the turbulent era during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, Tsipras selected the maverick academic Yanis Varoufakis to be his treasury head largely due to his worldwide fame along with Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal agenda which included promoting his books and experimenting with his game theories using the nation instead of genuinely advocating its economic stability.
Tsipras explained that those discussions to stave off bankruptcy were “not only a way of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Negotiations
Amid tense negotiations, the country came dangerously on the brink of leaving the eurozone.
On the line was not only Greece's destiny and those punishing austerity measures required in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were put to a popular referendum, an action that threw the EU into a further crisis of identity.
Although the vote was carried decisively by voters against the cuts, the prime minister was forced to reject its outcome and agree to a bailout package with foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a secondary currency and distributing vouchers to retirees, the leader knew it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras also claimed how his aggressive style made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
This retelling of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
