In a newly released memoir, titled Ithaki, the former prime minister Alexis Tsipras does not hold back as he examines the chaotic era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, Tsipras selected the maverick academic Yanis Varoufakis as his finance minister primarily due to his worldwide fame along with his highly compelling skills when it came to public orator.
“He was, in reality, more of a star rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis possessed a personal motives that included promoting his publications and testing out his own game theories using the nation instead of truly fighting for the country's economic stability.
He noted that those talks to stave off bankruptcy became “not only a method to secure improved terms for the country. They became a test, an historic opportunity to prove the truth of his theories.”
Critical Negotiations
During rollercoaster negotiations, Greece came dangerously close to leaving the single currency area.
On the line lay both Greece's destiny but also the severe austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those excoriating conditions were put to a public vote, an action that plunged the EU into further existential crisis.
Even though the vote was won decisively by those against the cuts, the prime minister was forced to reject its outcome and negotiate a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency and issuing coupons to retirees, the leader said he realised that it was game over questioning him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement demanding complex and sensitive handling.”
He also wrote that Varoufakis's confrontational style made him more and more alone among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
The retelling of history has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
