Within his freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras pulls no punches while he revisits that turbulent period during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's recollections, he chose the maverick academic Yanis Varoufakis to be his finance minister primarily because of the latter's worldwide fame and his very persuasive skills when it came to speaker.
“He was, in reality, more like a star and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests that his finance chief had his own agenda which involved advancing Varoufakis's publications and experimenting with his own game theories using the nation instead of genuinely fighting for its financial survival.
He wrote how the negotiations to stave off bankruptcy were “not just a method to secure improved terms for the country. They became a test, an historic chance to prove the truth of his ideas.”
Critical Negotiations
Amid volatile discussions, the country came dangerously on the brink of exiting the eurozone.
At stake was not only Greece's future and the severe cutbacks demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to find financing from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those punitive conditions were put to a public vote, a move that threw Europe into a further crisis of identity.
Although the vote was carried decisively by voters who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, Tsipras knew that it was the end questioning him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and sensitive handling.”
He also wrote how his aggressive approach made him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for Grexit.
This retelling of events has provoked fury along with shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
