In a recently unveiled autobiography, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he examines the chaotic era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's recollections, he appointed that maverick academic Yanis Varoufakis to be his treasury head mainly because of his global profile along with Varoufakis's highly compelling skills as a speaker.
“He was, truthfully, more like a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief had his own agenda which involved promoting his books and testing out his game theories using the nation instead of truly fighting for the country's financial survival.
He noted how the talks to avoid bankruptcy became “not just a method to secure a better deal for Greece. They became an experiment, an historic chance to prove the validity of his ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece came dangerously on the brink of exiting the single currency area.
At stake was not only Greece's future but also those harsh austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and U-Turn
That summer, those harsh conditions were subjected to a public vote, a move that plunged Europe into a further crisis of identity.
Even though the referendum was carried decisively by those against the cuts, Tsipras was forced but to reject its outcome and negotiate a rescue deal from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included creating a secondary currency and distributing coupons to retirees, Tsipras knew that it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement that required complex and sensitive management.”
He further wrote how Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
This retelling of events has been met with anger along with shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
