Within his recently unveiled autobiography, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches while he revisits the turbulent period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, he selected that unorthodox academic Yanis Varoufakis to be the finance minister primarily due to his international reputation and his very persuasive skills when it came to communicator.
“He was, truthfully, more like a personality rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims that his finance chief possessed a personal agenda that involved promoting his publications as well as experimenting with his own game theories using Greece rather than truly advocating the country's economic stability.
He explained how the discussions to avoid insolvency became “not only a method of achieving a better deal for the country. They were a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
During volatile negotiations, the country found itself perilously close to exiting the eurozone.
On the line lay not only the country's destiny and those severe austerity measures demanded in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the punitive conditions were put to a popular referendum, an action that threw the EU into further existential crisis.
Although the referendum was carried decisively by voters against austerity, Tsipras had little option to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a parallel currency and distributing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, the author asserts how his former ally demonstrated himself to be “unsuitable for a deal that required complex and delicate management.”
He also claimed that his aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
This retelling of events has provoked fury and shock among certain groups, while Varoufakis has maintained a deafening silence on the matter.
