In a recently unveiled memoir, called Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the chaotic era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, he chose that maverick academic Yanis Varoufakis as his finance minister primarily because of his worldwide fame along with Varoufakis's very persuasive abilities when it came to communicator.
“He was, truthfully, more of a personality and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief had a personal agenda that included promoting Varoufakis's publications and experimenting with his theories using the nation rather than truly advocating its economic stability.
Tsipras explained that the talks to stave off bankruptcy were “not only a method to secure a better deal for the country. They became a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During tense discussions, the country came dangerously on the brink of leaving the eurozone.
At stake lay not only Greece's future but also the severe cutbacks required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, a move that threw the EU into a deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a rescue deal from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy that included creating a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and sensitive management.”
Tsipras further wrote how his aggressive style made him more and more alone among peers, endangered the country, while assisted hardliners that were advocating Grexit.
The account of events has provoked fury and shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
