In a freshly published personal account, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on that chaotic period during Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, he chose that maverick economist Yanis Varoufakis as his finance minister primarily because of his global profile and Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, in reality, more like a personality rather than an economist,” stated Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief had his own motives which involved advancing his publications and experimenting with his game theories using the nation instead of truly advocating its economic stability.
Tsipras wrote how the talks to avoid insolvency were “not only a method of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the validity of his theories.”
Critical Talks
Amid tense negotiations, the country came dangerously close to exiting the single currency area.
On the line lay both the country's destiny but also the harsh austerity measures required in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the excoriating bailout terms were subjected to a public vote, a move which threw Europe into a deeper existential crisis.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras had little option to ignore the result then negotiate a bailout package from creditors which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving creating a parallel currency and issuing coupons to retirees, Tsipras knew it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for a deal that required complex and delicate management.”
Tsipras also wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, while helped hawks that were advocating Grexit.
This retelling of events has provoked anger along with stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
