Within his newly released autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines that chaotic period of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, Tsipras selected the unorthodox academic Yanis Varoufakis to be the finance minister primarily because of his international reputation along with his very persuasive abilities when it came to public orator.
“He was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own motives that included promoting his books as well as testing out his game theories on the nation instead of truly fighting for the country's economic stability.
Tsipras explained that the negotiations to avoid bankruptcy were “not only a way to secure a better deal for the country. They were a test, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Talks
During tense discussions, Greece found itself perilously close to leaving the single currency area.
At stake lay both Greece's destiny but also the severe austerity measures required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the excoriating conditions were subjected to a public vote, a move which threw Europe into a deeper existential crisis.
Even though the referendum was carried resoundingly by voters who opposed austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal with creditors that proved to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency and distributing vouchers to pensioners, Tsipras knew it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras also claimed that his confrontational style left him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
This account of events has provoked anger along with shock among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
