Within his recently unveiled autobiography, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches as he examines the chaotic period of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's account, he chose the maverick academic Yanis Varoufakis to be his finance minister primarily due to the latter's worldwide fame and his highly compelling abilities as a communicator.
“He was, actually, more of a personality rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras suggests that his finance chief had his own motives that involved promoting Varoufakis's publications as well as experimenting with his economic models using the nation rather than genuinely fighting for the country's economic stability.
Tsipras explained that those negotiations to prevent bankruptcy were “not just a way to secure a better deal for Greece. They became an experiment, a monumental chance to prove the validity of his ideas.”
Critical Talks
Amid volatile discussions, the country came dangerously close to exiting the eurozone.
On the line lay both the country's destiny but also the punishing austerity measures demanded in exchange for financial aid by foreign lenders.
Failed Options
Efforts to secure funds from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece would be tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were put to a popular referendum, a move that plunged the EU into further crisis of identity.
Although the referendum was carried decisively by those against austerity, the prime minister was forced but to reject its outcome and negotiate a bailout package from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal that required complex and sensitive management.”
Tsipras further wrote that his aggressive approach left him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
This retelling of history has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
