Within his recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back while he examines that chaotic era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, he appointed the unorthodox academic Yanis Varoufakis as his treasury head largely due to the latter's worldwide fame and his “extremely attractive” skills when it came to communicator.
“He was, truthfully, more like a celebrity rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras suggests that Varoufakis had a personal agenda that involved advancing his books and testing out his own game theories on Greece instead of genuinely fighting for its economic stability.
He noted that those negotiations to prevent bankruptcy became “not just a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During volatile discussions, the country found itself dangerously close to leaving the eurozone.
On the line was not only the country's destiny and the harsh austerity measures demanded in return for bailout funds from foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, an action which threw the EU into a deeper existential crisis.
Even though the referendum was carried decisively by voters against austerity, Tsipras was forced to reject its outcome then agree to a rescue deal with creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing coupons to retirees, Tsipras said he realised that it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author concludes that his former ally demonstrated himself “unfit for a deal demanding intricate and delicate management.”
Tsipras further claimed that his aggressive style made him more and more alone among peers, endangered the country, and helped hardliners who were pushing for Grexit.
This retelling of history has been met with fury and shock among certain groups, while the former minister has maintained a conspicuous quiet on the matter.
