Within his freshly published autobiography, called Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on that turbulent era during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's version, Tsipras chose that maverick academic Yanis Varoufakis to be his finance minister mainly due to his global profile along with his “extremely attractive” skills when it came to public orator.
“He was, truthfully, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims how Varoufakis possessed a personal motives that included advancing Varoufakis's books and experimenting with his economic models using the nation rather than genuinely advocating its economic stability.
He explained how those discussions to prevent bankruptcy were “not only a method to secure a better deal for the country. They were a test, an historic opportunity to prove the validity of his theories.”
Critical Talks
Amid volatile negotiations, Greece came dangerously on the brink of leaving the single currency area.
At stake lay not only Greece's future and the severe austerity policies demanded in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating conditions were put to a public vote, a move which threw Europe into deeper existential crisis.
Even though the vote was carried decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome and agree to a rescue deal from foreign lenders which proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy involving establishing a parallel currency and distributing vouchers to pensioners, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and delicate handling.”
He further wrote that Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, and helped hardliners that were advocating Grexit.
The retelling of history has provoked anger and shock in some quarters, while the former minister has kept a conspicuous quiet on the matter.
