In a freshly published autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines that chaotic period of Greece's debt drama.
A Controversial Choice
According to Tsipras's account, Tsipras chose that maverick economist Yanis Varoufakis to be his finance minister largely due to the latter's worldwide fame and his “extremely attractive” abilities as a public orator.
“He was, in reality, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own agenda which included promoting his books and experimenting with his own game theories on the nation rather than truly advocating its financial survival.
He noted that those talks to avoid insolvency were “not just a method of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of his theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece came dangerously close to leaving the single currency area.
On the line lay not only Greece's future but also those punishing austerity policies demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were put to a public vote, a move that threw Europe into a deeper existential crisis.
Although the referendum was carried resoundingly by those who opposed the cuts, Tsipras had little option but to reject its outcome then negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and delicate management.”
He further wrote that his aggressive style left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were advocating Grexit.
The account of history has provoked anger and shock in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
