Within his recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back while he examines that chaotic period of Greece's financial crisis.
A Controversial Choice
As per Tsipras's recollections, he selected that maverick academic Yanis Varoufakis to be the finance minister primarily due to his global profile along with his very persuasive skills as a public orator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis possessed his own agenda that involved promoting Varoufakis's books and experimenting with his own theories using the nation rather than truly fighting for its economic stability.
He noted that those negotiations to stave off bankruptcy were “not just a way to secure improved terms for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line lay not only Greece's destiny but also the severe austerity measures required in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and U-Turn
That summer, the punitive conditions were subjected to a popular referendum, a move which plunged the EU into deeper existential crisis.
Even though the referendum was won resoundingly by voters against austerity, Tsipras was forced to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy that included creating a parallel currency as well as distributing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally had proved himself “unfit for an agreement demanding intricate and sensitive handling.”
He further wrote that his aggressive style left him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
This retelling of history has provoked anger and shock among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
