Within his recently unveiled memoir, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he revisits the chaotic period during Greece's debt drama.
A Controversial Choice
In Tsipras's recollections, he selected that maverick economist Yanis Varoufakis as the finance minister primarily due to the latter's international reputation and his very persuasive abilities when it came to communicator.
“He was, in reality, more like a star rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief possessed his own motives which included promoting his books and testing out his game theories on the nation rather than genuinely advocating the country's financial survival.
He explained how the negotiations to stave off bankruptcy became “not only a way to secure a better deal for Greece. They became a test, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Talks
During tense discussions, Greece found itself dangerously close to exiting the eurozone.
On the line was not only the country's destiny but also those severe cutbacks demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were put to a public vote, an action which threw Europe into further existential crisis.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced but to ignore the result then negotiate a rescue deal from creditors that proved to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency and distributing vouchers to retirees, the leader knew that it was the end questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras further wrote how his aggressive approach made him more and more alone with colleagues, put Greece at risk, and helped hardliners that were pushing for Grexit.
The retelling of events has been met with fury along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
