In a freshly published memoir, titled Ithaki, the former premier Alexis Tsipras does not hold back as he examines the chaotic period during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, he appointed that maverick economist Yanis Varoufakis as his treasury head primarily due to his international reputation and his very persuasive skills when it came to public orator.
“He was, truthfully, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own motives which included promoting Varoufakis's books and experimenting with his game theories on the nation rather than truly fighting for the country's financial survival.
He wrote that the discussions to stave off bankruptcy were “not just a way to secure a better deal for Greece. They became a test, an historic chance to prove the validity of Varoufakis's ideas.”
Critical Talks
During tense discussions, the country found itself dangerously close to leaving the single currency area.
At stake was not only the country's destiny but also the harsh austerity measures demanded in return for bailout funds from foreign lenders.
Failed Options
Efforts to secure funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those punitive conditions were put to a popular referendum, a move which threw Europe into further existential crisis.
Even though the referendum was won decisively by those against the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package from foreign lenders that proved to be more severe.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the covers of publications globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a parallel currency as well as issuing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and sensitive handling.”
He further wrote how his confrontational style left him more and more alone among peers, endangered the country, and assisted hardliners that were advocating Grexit.
The account of events has been met with anger and shock among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
