Within his recently unveiled autobiography, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he revisits the chaotic period of Greece's debt drama.
An Unconventional Appointment
In Tsipras's version, Tsipras selected that maverick academic Yanis Varoufakis as the finance minister mainly due to his global profile along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims that his finance chief had a personal agenda that included promoting Varoufakis's books as well as experimenting with his own game theories on Greece instead of truly advocating its economic stability.
Tsipras wrote how those negotiations to stave off bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
During tense negotiations, Greece came dangerously on the brink of exiting the single currency area.
At stake lay not only Greece's destiny and those harsh cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Options
Attempts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those punitive conditions were put to a public vote, a move which threw the EU into a deeper crisis of identity.
Although the referendum was won resoundingly by those who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal from creditors that turned out to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency as well as distributing vouchers to retirees, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras further claimed that his confrontational approach made him more and more alone among peers, endangered the country, while helped hawks that were pushing for Grexit.
This account of history has provoked fury and stunned disbelief among certain groups, while the former minister has kept a deafening silence regarding these claims.
