Within his freshly published autobiography, named Ithaki, the former premier Alexis Tsipras pulls no punches as he examines the turbulent period during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's version, Tsipras chose that maverick academic Yanis Varoufakis to be the finance minister mainly because of the latter's international reputation along with Varoufakis's very persuasive abilities when it came to public orator.
“He was, actually, more like a personality and less of an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis had his own motives which included advancing Varoufakis's publications and testing out his own game theories on Greece rather than genuinely fighting for the country's financial survival.
He explained how the talks to prevent bankruptcy were “not just a method to secure improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
Amid tense negotiations, Greece found itself dangerously close to leaving the eurozone.
At stake was not only Greece's future but also those punishing cutbacks demanded in return for bailout funds from foreign lenders.
Failed Options
Attempts to find financing from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive bailout terms were put to a popular referendum, a move which threw Europe into further crisis of identity.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister was forced but to reject its outcome then agree to a bailout package with foreign lenders which turned out to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the covers of publications globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving creating a parallel currency and issuing coupons to pensioners, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
Tsipras further claimed that his aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This account of history has provoked fury and stunned disbelief among certain groups, while the former minister has so far kept a deafening silence on the matter.
