In a recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on the chaotic era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, Tsipras chose the maverick economist Yanis Varoufakis to be the finance minister primarily due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a public orator.
“He was, truthfully, more of a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests how his finance chief possessed his own motives that included promoting Varoufakis's books and testing out his own game theories using Greece instead of truly fighting for the country's financial survival.
He explained that the discussions to avoid bankruptcy were “not only a way of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself perilously on the brink of exiting the eurozone.
On the line was both the country's future but also those harsh austerity measures required in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, a move which plunged the EU into a deeper existential crisis.
Even though the referendum was carried resoundingly by voters who opposed austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the covers of publications the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
Tsipras further wrote how his confrontational style left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were pushing for Grexit.
This retelling of history has been met with fury along with shock among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
