In a newly released autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he revisits the turbulent era during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's recollections, he selected the maverick economist Yanis Varoufakis as the finance minister largely due to his worldwide fame along with Varoufakis's very persuasive skills as a speaker.
“He was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief possessed his own agenda which included advancing Varoufakis's books as well as experimenting with his own game theories using the nation instead of genuinely fighting for its economic stability.
He explained how the talks to prevent bankruptcy became “not just a method to secure improved terms for Greece. They were a test, a monumental chance to demonstrate the truth of his economic theories.”
Critical Talks
During volatile negotiations, the country came dangerously close to leaving the eurozone.
At stake lay not only the country's destiny and the severe cutbacks required in return for financial aid from foreign lenders.
Failed Options
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the punitive bailout terms were put to a public vote, a move that threw the EU into a further crisis of identity.
Even though the referendum was carried resoundingly by those against austerity, the prime minister had little option but to ignore the result and agree to a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, the leader said he realised it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that his former ally had proved himself “unfit for a deal that required intricate and sensitive management.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, and helped hardliners that were advocating Grexit.
This account of history has been met with fury along with shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
