Within his freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he revisits the chaotic era of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, he chose that maverick economist Yanis Varoufakis to be his finance minister largely because of his global profile and his highly compelling skills as a speaker.
“He was, in reality, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims how Varoufakis possessed his own agenda that involved advancing Varoufakis's publications as well as testing out his theories on the nation rather than genuinely fighting for its financial survival.
Tsipras wrote that those discussions to prevent insolvency became “not just a way to secure improved terms for the country. They were a test, an historic chance to prove the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece came perilously on the brink of leaving the eurozone.
At stake lay both the country's destiny and those punishing austerity policies demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were subjected to a public vote, an action that plunged the EU into a further crisis of identity.
Even though the vote was carried resoundingly by voters against austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency and distributing coupons to pensioners, the leader knew it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the book, the author asserts how his former ally had proved himself “unfit for a deal that required complex and delicate management.”
He also wrote that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
This account of events has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
