In a recently unveiled autobiography, titled Ithaki, the former prime minister Alexis Tsipras pulls no punches as he revisits the chaotic period of Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, he appointed that maverick economist Yanis Varoufakis to be his treasury head primarily because of his worldwide fame and his highly compelling skills when it came to communicator.
“In reality, he was, in reality, more like a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader claims that Varoufakis possessed a personal motives that involved advancing Varoufakis's publications as well as experimenting with his own theories on the nation rather than genuinely advocating the country's economic stability.
Tsipras explained that those negotiations to avoid insolvency were “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country found itself dangerously close to leaving the eurozone.
At stake was both the country's destiny and those harsh austerity policies demanded in return for rescue loans from foreign lenders.
Failed Options
Efforts to find financing elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
That summer, those punitive conditions were subjected to a public vote, a move that plunged Europe into a further crisis of identity.
Although the referendum was won decisively by voters who opposed the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal from creditors which proved to be even harsher.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, the leader said he realised it was game over and asked him: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts how his former ally demonstrated himself “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras further wrote how his confrontational style made him more and more alone among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
This retelling of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.
