In a newly released autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on that chaotic period of Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, he chose the maverick economist Yanis Varoufakis as the finance minister primarily due to his international reputation along with his “extremely attractive” skills as a speaker.
“In reality, he was, actually, more of a personality rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis possessed his own motives that included advancing Varoufakis's publications and experimenting with his own theories using the nation instead of genuinely fighting for its financial survival.
He explained how the negotiations to avoid insolvency were “not just a way to secure improved terms for the country. They became an experiment, a monumental chance to demonstrate the truth of his theories.”
Critical Negotiations
Amid volatile discussions, the country came dangerously close to exiting the eurozone.
At stake was not only Greece's future but also those severe cutbacks demanded in return for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the harsh conditions were put to a public vote, an action that plunged Europe into deeper crisis of identity.
Even though the vote was won decisively by voters who opposed the cuts, the prime minister was forced but to reject its outcome then negotiate a bailout package with foreign lenders that proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications globally … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing coupons to pensioners, the leader knew that it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal that required complex and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
This retelling of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
