Within his recently unveiled autobiography, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he revisits the chaotic era during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's version, Tsipras chose that unorthodox economist Yanis Varoufakis to be his treasury head primarily because of his international reputation along with his highly compelling skills when it came to public orator.
“In reality, he was, actually, more of a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed his own motives that included advancing Varoufakis's books as well as testing out his own economic models on the nation instead of truly fighting for its financial survival.
He noted that those negotiations to stave off bankruptcy were “not just a way to secure improved terms for Greece. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line lay both Greece's destiny but also those harsh austerity policies required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those harsh conditions were subjected to a popular referendum, an action which threw Europe into deeper existential crisis.
Even though the vote was won resoundingly by those against the cuts, Tsipras had little option to ignore the result and agree to a rescue deal from foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When the minister outlined a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes that Varoufakis had proved himself to be “unfit for an agreement that required complex and sensitive handling.”
He further claimed that his confrontational style left him more and more alone among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
The account of history has provoked fury and shock among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
