In a freshly published autobiography, called Ithaki, the former leader Alexis Tsipras does not hold back as he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, he appointed the maverick academic Yanis Varoufakis to be his treasury head mainly due to his international reputation and his highly compelling skills as a public orator.
“In reality, he was, in reality, more of a personality rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras suggests how Varoufakis had a personal motives which included advancing Varoufakis's publications as well as testing out his own game theories on the nation rather than genuinely advocating the country's economic stability.
Tsipras explained how the negotiations to prevent insolvency became “not only a method to secure improved terms for the country. They became an experiment, a monumental chance to demonstrate the validity of his theories.”
Critical Negotiations
During tense discussions, the country came perilously close to leaving the eurozone.
At stake was both the country's destiny and those punishing cutbacks required in return for financial aid from international creditors.
Failed Alternatives
Efforts to find financing elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the harsh bailout terms were subjected to a popular referendum, an action which plunged the EU into further existential crisis.
Although the referendum was won decisively by those against the cuts, the prime minister was forced to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras also claimed how his confrontational style made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
This retelling of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
