Within his freshly published autobiography, named Ithaki, the former leader Alexis Tsipras pulls no punches while he revisits that turbulent era during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's account, he appointed the maverick academic Yanis Varoufakis to be his treasury head primarily due to his international reputation along with his very persuasive abilities when it came to public orator.
“He was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges that his finance chief possessed a personal agenda which involved promoting his publications as well as experimenting with his own game theories using the nation instead of genuinely fighting for its economic stability.
He noted how the discussions to prevent bankruptcy became “not only a way of achieving a better deal for the country. They were an experiment, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid rollercoaster discussions, Greece came dangerously on the brink of exiting the eurozone.
At stake was both the country's future and those harsh cutbacks demanded in return for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the punitive conditions were put to a public vote, a move which threw Europe into a further crisis of identity.
Although the referendum was won decisively by voters who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal with creditors which turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a backup strategy that included creating a secondary currency and issuing coupons to pensioners, the leader knew that it was game over and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts how his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
Tsipras further wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
The account of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
