In a newly released memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines that chaotic era of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, Tsipras appointed that maverick economist Yanis Varoufakis to be his treasury head largely due to his international reputation along with his very persuasive abilities when it came to public orator.
“He was, in reality, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims that Varoufakis possessed his own agenda which involved advancing Varoufakis's books as well as experimenting with his own game theories using the nation rather than genuinely fighting for its economic stability.
Tsipras explained that the talks to avoid insolvency were “not only a method to secure a better deal for the country. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line lay not only the country's destiny but also the harsh austerity measures demanded in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to find financing from other sources, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, an action which plunged Europe into deeper existential crisis.
Even though the referendum was won resoundingly by those against the cuts, the prime minister was forced but to ignore the result then negotiate a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew media attention, who graced the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for a deal that required complex and sensitive handling.”
Tsipras also claimed that his confrontational approach left him more and more alone with colleagues, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
The retelling of events has been met with fury along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
