In a recently unveiled memoir, named Ithaki, the former prime minister Alexis Tsipras pulls no punches while he revisits the turbulent period of Greece's debt drama.
A Controversial Choice
As per Tsipras's recollections, Tsipras selected that unorthodox economist Yanis Varoufakis as his finance minister mainly because of his international reputation along with his highly compelling skills as a communicator.
“He was, actually, more of a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief possessed his own agenda that included promoting Varoufakis's books and testing out his game theories on the nation instead of genuinely fighting for the country's financial survival.
He noted how those talks to avoid insolvency were “not just a way to secure a better deal for the country. They were an experiment, an historic chance to prove the validity of his ideas.”
Critical Talks
During volatile discussions, the country came perilously on the brink of exiting the eurozone.
At stake was both the country's destiny but also the punishing austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those punitive conditions were put to a popular referendum, a move which plunged the EU into a further existential crisis.
Even though the referendum was won decisively by voters against the cuts, the prime minister was forced but to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
After the minister proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author asserts that his former ally demonstrated himself to be “unfit for a deal demanding complex and delicate handling.”
Tsipras also claimed that his confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hawks who were pushing for Grexit.
The retelling of history has been met with anger along with stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
