Within his freshly published memoir, named Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines that chaotic period of Greece's economic turmoil.
A Controversial Choice
In Tsipras's version, Tsipras selected the maverick academic Yanis Varoufakis as his finance minister largely because of the latter's global profile along with Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, in reality, more of a personality and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims how Varoufakis possessed his own agenda that included promoting his books and testing out his theories on Greece instead of genuinely fighting for the country's financial survival.
Tsipras explained how those discussions to avoid bankruptcy were “not only a way to secure a better deal for the country. They became an experiment, a monumental opportunity to prove the validity of his theories.”
Critical Negotiations
Amid volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line lay not only Greece's future and the punishing austerity policies demanded in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, an action which plunged Europe into a further existential crisis.
Although the vote was carried decisively by voters against the cuts, the prime minister had little option to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who drew media attention, who graced the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to retirees, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
He also wrote that his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The account of events has provoked anger along with shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
