Within his recently unveiled autobiography, titled Ithaki, the former premier Alexis Tsipras pulls no punches while he revisits the chaotic era of Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, he selected that unorthodox academic Yanis Varoufakis as his finance minister largely because of the latter's international reputation along with Varoufakis's highly compelling skills as a public orator.
“He was, in reality, more like a star rather than an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests that his finance chief possessed a personal agenda which involved advancing Varoufakis's books as well as experimenting with his game theories using Greece instead of truly advocating its financial survival.
Tsipras explained that the discussions to prevent insolvency were “not only a way to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of his theories.”
Critical Negotiations
During rollercoaster discussions, Greece came dangerously close to exiting the eurozone.
On the line was both the country's destiny but also the harsh austerity measures required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those excoriating conditions were subjected to a public vote, a move which plunged the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package from creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing coupons to retirees, Tsipras said he realised it was game over questioning him: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and sensitive management.”
He further claimed that his aggressive style made him increasingly isolated among peers, endangered the country, while helped hawks who were advocating Grexit.
The account of history has provoked fury along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence on the matter.
