Within his newly released autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits the turbulent era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, he chose that maverick economist Yanis Varoufakis to be his finance minister primarily because of the latter's worldwide fame and Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more of a star and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests that his finance chief had a personal motives which involved advancing Varoufakis's publications and experimenting with his own game theories using Greece rather than genuinely fighting for the country's financial survival.
Tsipras explained how those talks to stave off insolvency became “not just a method to secure a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster discussions, the country came dangerously on the brink of leaving the eurozone.
At stake was not only Greece's destiny and the harsh austerity policies demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were put to a public vote, a move that plunged the EU into further crisis of identity.
Even though the vote was carried resoundingly by voters against the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy that included creating a secondary currency and issuing vouchers to pensioners, Tsipras said he realised that it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate handling.”
Tsipras further wrote that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The account of history has provoked anger and shock among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
