In a newly released memoir, titled Ithaki, the former leader Alexis Tsipras does not hold back while he examines that turbulent era of Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, he appointed the unorthodox economist Yanis Varoufakis as his treasury head mainly due to the latter's worldwide fame along with Varoufakis's very persuasive skills when it came to speaker.
“He was, truthfully, more of a celebrity and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis had a personal agenda which involved advancing his books as well as experimenting with his own economic models using the nation instead of truly fighting for the country's economic stability.
He noted how those talks to avoid insolvency became “not just a way of achieving improved terms for the country. They became an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid tense discussions, Greece found itself dangerously close to exiting the single currency area.
At stake lay both Greece's destiny and the punishing cutbacks required in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, an action which threw Europe into a deeper existential crisis.
Although the referendum was won decisively by those against the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package from foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, Tsipras knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras concludes that his former ally had proved himself “unfit for a deal demanding complex and delicate handling.”
He also claimed how his confrontational style left him more and more alone among peers, endangered the country, while assisted hawks that were pushing for Grexit.
The retelling of history has been met with fury and shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
