Within his recently unveiled memoir, named Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on that turbulent era of 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 largely due to his global profile along with his very persuasive abilities when it came to speaker.
“In reality, he was, truthfully, more like a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader alleges that his finance chief possessed a personal agenda that involved advancing his books and experimenting with his game theories on Greece rather than genuinely advocating its financial survival.
He wrote how those discussions to avoid bankruptcy were “not only a way of achieving a better deal for the country. They became a test, an historic opportunity to prove the validity of his ideas.”
Critical Talks
Amid volatile discussions, Greece found itself dangerously close to leaving the eurozone.
On the line was not only the country's future and those harsh austerity measures demanded in return for rescue loans by international creditors.
Failed Alternatives
Attempts to find financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action which plunged the EU into deeper existential crisis.
Although the referendum was won resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal with foreign lenders which turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as distributing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes that Varoufakis had proved himself to be “unfit for an agreement demanding complex and delicate management.”
He further claimed how his confrontational style left him more and more alone with colleagues, put Greece at risk, while helped hawks who were pushing for Grexit.
The account of history has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
