Within his freshly published memoir, titled Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on that chaotic period during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's recollections, Tsipras chose that unorthodox academic Yanis Varoufakis as his finance minister mainly because of his global profile and Varoufakis's very persuasive skills as a public orator.
“He was, in reality, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras alleges that his finance chief possessed a personal motives which included advancing Varoufakis's publications and experimenting with his own game theories using the nation instead of truly fighting for its financial survival.
He explained that those discussions to avoid bankruptcy became “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense discussions, Greece found itself dangerously close to leaving the eurozone.
At stake lay both the country's future and those harsh austerity policies demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and U-Turn
That summer, the excoriating conditions were put to a public vote, a move which plunged Europe into further existential crisis.
Even though the referendum was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result then negotiate a bailout package with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan that included establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and delicate management.”
He further wrote that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for Grexit.
The account of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
