Within his recently unveiled memoir, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he reflects on that chaotic period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, Tsipras selected that maverick economist Yanis Varoufakis as his treasury head mainly due to the latter's global profile and his very persuasive skills when it came to public orator.
“In reality, he was, in reality, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief had his own agenda that included advancing his publications as well as experimenting with his own game theories using Greece rather than genuinely advocating the country's economic stability.
Tsipras wrote how those talks to prevent bankruptcy were “not just a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster discussions, Greece came perilously close to leaving the eurozone.
At stake was both the country's destiny and those severe austerity measures required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those punitive conditions were put to a public vote, an action that threw Europe into a further existential crisis.
Even though the referendum was won decisively by voters against the cuts, the prime minister had little option to reject its outcome and negotiate a rescue deal from creditors that proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the covers of magazines globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to retirees, Tsipras knew it was game over and asked him: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts how his former ally had proved himself to be “unfit for a deal demanding intricate and delicate handling.”
Tsipras further claimed how his aggressive style made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This account of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
