Within his newly released memoir, called Ithaki, the ex- premier Alexis Tsipras pulls no punches as he examines the turbulent era of Greece's debt drama.
A Controversial Choice
According to the ex-PM's recollections, Tsipras appointed the maverick academic Yanis Varoufakis as his finance minister mainly due to the latter's worldwide fame and his highly compelling skills when it came to public orator.
“He was, truthfully, more like a star rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges how his finance chief possessed a personal motives that involved promoting Varoufakis's publications as well as experimenting with his own game theories using the nation rather than genuinely fighting for its financial survival.
He noted that those negotiations to prevent bankruptcy were “not only a method of achieving improved terms for the country. They were an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Talks
During rollercoaster discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay both Greece's future and those harsh austerity measures demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum and Reversal
That summer, those punitive conditions were subjected to a popular referendum, a move that plunged Europe into further crisis of identity.
Although the vote was won decisively by voters who opposed austerity, Tsipras had little option to reject its outcome and agree to a rescue deal from creditors that proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author asserts that his former ally had proved himself to be “unsuitable for an agreement that required complex and delicate handling.”
He further claimed that Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
The retelling of history has been met with fury and shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
