Within his recently unveiled memoir, named Ithaki, the former leader Alexis Tsipras pulls no punches while he examines the turbulent era of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, Tsipras chose the maverick economist Yanis Varoufakis to be the finance minister mainly due to the latter's international reputation and his highly compelling skills when it came to speaker.
“He was, truthfully, more like a star rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests that his finance chief had his own motives which included advancing Varoufakis's books and experimenting with his own economic models using Greece instead of genuinely advocating the country's financial survival.
He noted that those negotiations to prevent insolvency were “not just a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During rollercoaster negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line was both the country's future and those severe cutbacks demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the punitive conditions were put to a popular referendum, an action which threw Europe into further existential crisis.
Although the referendum was won decisively by voters against the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal with creditors which proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan involving creating a secondary currency as well as distributing vouchers to retirees, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He also claimed that his aggressive approach made him increasingly isolated among peers, put Greece at risk, and helped hawks who were pushing for Grexit.
The retelling of events has been met with anger and shock among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
