Within his recently unveiled autobiography, titled Ithaki, the former premier Alexis Tsipras pulls no punches while he revisits that chaotic period of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, Tsipras chose that unorthodox economist Yanis Varoufakis as the finance minister largely because of the latter's worldwide fame and his very persuasive skills when it came to speaker.
“In reality, he was, actually, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief possessed his own motives that involved promoting his books and testing out his economic models using Greece instead of truly fighting for its financial survival.
Tsipras noted that those talks to prevent bankruptcy became “not only a method of achieving a better deal for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
Amid volatile discussions, the country found itself perilously close to exiting the single currency area.
At stake was both Greece's future but also the punishing cutbacks required in exchange for financial aid from foreign lenders.
Failed Options
Efforts to find financing from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were put to a public vote, a move which plunged the EU into deeper crisis of identity.
Even though the vote was won decisively by those against the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal from creditors that turned out to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras also wrote that his confrontational approach made him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
This retelling of history has provoked fury along with shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
