In a recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he revisits that chaotic period of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's recollections, he selected that maverick academic Yanis Varoufakis to be his finance minister primarily because of the latter's international reputation and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more of a star and less of an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras claims that his finance chief possessed a personal agenda which included advancing Varoufakis's books as well as experimenting with his own game theories on Greece rather than genuinely fighting for its financial survival.
Tsipras explained that those talks to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country found itself dangerously on the brink of exiting the single currency area.
On the line was not only the country's future but also those punishing austerity measures demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were subjected to a public vote, a move that threw the EU into deeper crisis of identity.
Even though the vote was carried decisively by voters who opposed austerity, the prime minister had little option to ignore the result and negotiate a rescue deal from creditors that turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts that Varoufakis had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
He also claimed that Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, while helped hawks who were advocating Grexit.
This retelling of events has provoked anger and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
