Within his recently unveiled memoir, named Ithaki, the former premier Alexis Tsipras does not hold back as he reflects on the turbulent era of Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, Tsipras chose the unorthodox economist Yanis Varoufakis as the finance minister primarily due to his international reputation along with Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, truthfully, more like a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader alleges how Varoufakis had a personal motives that included promoting Varoufakis's publications and testing out his own theories on the nation instead of truly advocating its economic stability.
Tsipras wrote how the talks to prevent insolvency became “not just a method of achieving improved terms for Greece. They became a test, a monumental opportunity to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid tense negotiations, the country found itself perilously close to exiting the eurozone.
At stake lay not only the country's future and the severe austerity measures required in return for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were subjected to a public vote, an action that plunged Europe into deeper existential crisis.
Even though the referendum was carried decisively by those who opposed the cuts, Tsipras had little option but to ignore the result and negotiate a rescue deal from creditors which proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan involving creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally demonstrated himself “unfit for an agreement that required intricate and delicate handling.”
Tsipras further wrote how Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of events has provoked anger along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
