Within his recently unveiled personal account, called Ithaki, the former premier Alexis Tsipras pulls no punches while he reflects on that turbulent period of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, he chose that maverick economist Yanis Varoufakis to be the finance minister mainly because of his international reputation and Varoufakis's very persuasive skills as a public orator.
“In reality, he was, actually, more of a personality rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader suggests how Varoufakis possessed a personal motives that involved advancing Varoufakis's publications and testing out his theories using the nation rather than truly advocating its financial survival.
Tsipras noted that those discussions to stave off insolvency were “not just a method to secure improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster discussions, Greece came dangerously close to leaving the eurozone.
On the line lay both Greece's future but also those severe austerity policies demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the punitive bailout terms were subjected to a popular referendum, a move which threw the EU into a further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package from foreign lenders which turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who drew publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy involving creating a parallel currency and issuing vouchers to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes how his former ally had proved himself “unsuitable for a deal that required complex and sensitive management.”
Tsipras also claimed how his confrontational approach left him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
The retelling of history has been met with anger along with shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
