In a freshly published autobiography, called Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on the turbulent period of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's account, Tsipras appointed that maverick economist Yanis Varoufakis as his finance minister primarily due to the latter's international reputation along with Varoufakis's very persuasive skills as a public orator.
“In reality, he was, in reality, more of a personality and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims how Varoufakis had a personal motives that included promoting Varoufakis's publications and testing out his game theories on the nation instead of truly advocating the country's financial survival.
He noted that those discussions to avoid insolvency were “not just a way to secure a better deal for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster discussions, the country found itself dangerously on the brink of exiting the eurozone.
At stake lay not only Greece's destiny but also those punishing austerity measures demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, including an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, a move that threw Europe into further crisis of identity.
Although the referendum was carried decisively by those who opposed the cuts, Tsipras had little option but to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving creating a secondary currency and distributing coupons to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding complex and delicate handling.”
He also wrote that his confrontational approach left him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were advocating Grexit.
The retelling of events has provoked anger and stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
