In a recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on the turbulent period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, he selected the unorthodox academic Yanis Varoufakis to be his finance minister primarily because of his global profile along with his highly compelling abilities when it came to communicator.
“He was, in reality, more like a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed his own motives which included advancing his publications and experimenting with his own game theories on Greece rather than genuinely advocating its economic stability.
He explained how those discussions to stave off insolvency were “not just a way to secure a better deal for the country. They were a test, an historic chance to demonstrate the validity of his theories.”
Critical Negotiations
During tense negotiations, the country found itself perilously on the brink of leaving the eurozone.
At stake lay not only Greece's future and those severe cutbacks demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the punitive conditions were subjected to a popular referendum, an action which threw the EU into deeper existential crisis.
Although the vote was won decisively by those who opposed the cuts, the prime minister was forced to ignore the result and agree to a bailout package from creditors which proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, the author concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate handling.”
He further claimed how Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were advocating Grexit.
This retelling of events has provoked anger along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.
