In a newly released personal account, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on the turbulent era during Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, he chose the maverick academic Yanis Varoufakis as his finance minister primarily because of the latter's global profile and Varoufakis's very persuasive skills when it came to public orator.
“He was, truthfully, more like a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader claims that his finance chief possessed a personal motives that included promoting Varoufakis's books and testing out his own game theories using the nation rather than genuinely fighting for the country's economic stability.
He noted how those talks to stave off bankruptcy were “not just a method of achieving improved terms for Greece. They became an experiment, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
During volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake was both the country's destiny and the punishing austerity policies required in return for bailout funds by foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek bonds, were rejected.
Helping Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those punitive bailout terms were put to a popular referendum, an action which plunged Europe into a deeper crisis of identity.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal with creditors which turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he relished the spotlight.”
When the minister proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, the leader said he realised that it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself “unfit for an agreement that required complex and delicate handling.”
He further wrote how his confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hawks that were pushing for Grexit.
The retelling of history has provoked anger and shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
