Within his newly released personal account, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he revisits the turbulent era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras chose that unorthodox academic Yanis Varoufakis as his finance minister largely due to the latter's global profile along with his highly compelling skills when it came to public orator.
“He was, truthfully, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis had a personal agenda which involved advancing Varoufakis's publications and experimenting with his own game theories using Greece instead of genuinely advocating the country's financial survival.
Tsipras wrote how those talks to stave off bankruptcy became “not only a way of achieving a better deal for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster discussions, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay not only the country's destiny and those harsh austerity measures required in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, an action which threw Europe into a further crisis of identity.
Even though the referendum was carried decisively by those against austerity, the prime minister had little option to reject its outcome and agree to a rescue deal with foreign lenders which proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally had proved himself to be “unfit for an agreement demanding complex and sensitive management.”
Tsipras further wrote that his confrontational style made him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The account of history has provoked anger along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
