In a freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits that chaotic era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's recollections, Tsipras appointed the maverick economist Yanis Varoufakis to be the treasury head mainly because of his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more of a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis had his own motives which included advancing Varoufakis's books as well as experimenting with his game theories on Greece rather than genuinely advocating its economic stability.
Tsipras noted how those discussions to prevent bankruptcy became “not only a method of achieving improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid tense negotiations, the country found itself perilously on the brink of leaving the eurozone.
At stake was not only the country's future but also those harsh cutbacks required in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, those excoriating bailout terms were put to a popular referendum, an action that plunged the EU into further crisis of identity.
Although the vote was carried decisively by those against austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a secondary currency and issuing vouchers to pensioners, Tsipras knew it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras also wrote how his confrontational approach made him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
The retelling of events has provoked fury and shock in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
