In a freshly published memoir, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits that turbulent period of Greece's debt drama.
An Unconventional Choice
According to Tsipras's version, Tsipras selected the maverick academic Yanis Varoufakis as his finance minister primarily due to the latter's global profile along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, actually, more like a star and less of an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis possessed his own motives which involved promoting Varoufakis's books and experimenting with his own economic models on Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted how the negotiations to avoid bankruptcy became “not just a method to secure a better deal for Greece. They were an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
During tense discussions, the country came perilously on the brink of exiting the eurozone.
On the line was not only Greece's destiny and the severe cutbacks demanded in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those punitive bailout terms were put to a public vote, an action which threw Europe into deeper existential crisis.
Although the referendum was won decisively by voters who opposed the cuts, the prime minister was forced but to ignore the result then agree to a bailout package with creditors that proved to be tougher.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who drew publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy that included establishing a parallel currency and distributing coupons to retirees, the leader knew that it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
He also claimed that his aggressive approach left him increasingly isolated among peers, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
