In a newly released memoir, called Ithaki, the ex- leader Alexis Tsipras pulls no punches while he revisits that turbulent era during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's recollections, he chose that unorthodox economist Yanis Varoufakis to be the finance minister mainly due to his global profile and his highly compelling abilities as a public orator.
“He was, truthfully, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis had a personal agenda that involved promoting Varoufakis's books as well as experimenting with his theories on Greece rather than genuinely advocating the country's financial survival.
Tsipras wrote that those talks to stave off bankruptcy became “not just a way of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the validity of his ideas.”
Critical Talks
During volatile negotiations, Greece came dangerously close to exiting the eurozone.
On the line was both the country's future but also those punishing austerity measures demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, a move that plunged Europe into further existential crisis.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced but to reject its outcome then negotiate a rescue deal from creditors that proved to be tougher.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts how his former ally demonstrated himself “unsuitable for an agreement demanding complex and delicate handling.”
He also wrote how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while assisted hawks who were advocating Grexit.
The retelling of history has provoked anger along with stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet on the matter.
