In a newly released personal account, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on that turbulent period during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's recollections, he chose that maverick economist Yanis Varoufakis as the treasury head mainly due to the latter's worldwide fame along with his highly compelling skills as a public orator.
“He was, truthfully, more like a celebrity and less of an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis possessed a personal motives that involved advancing Varoufakis's publications as well as experimenting with his own game theories using Greece rather than truly fighting for its economic stability.
He noted how the negotiations to stave off bankruptcy were “not just a method of achieving a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of his theories.”
Critical Talks
Amid tense discussions, Greece found itself perilously close to leaving the eurozone.
On the line lay not only the country's future but also those punishing austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
That summer, the excoriating conditions were subjected to a public vote, a move that threw the EU into deeper existential crisis.
Although the vote was won decisively by voters who opposed the cuts, the prime minister had little option but to reject its outcome then negotiate a bailout package with creditors which turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for a deal that required complex and delicate handling.”
Tsipras further wrote how his confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
The retelling of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
