In a freshly published memoir, titled Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, he selected that unorthodox economist Yanis Varoufakis to be the finance minister primarily due to his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, actually, more of a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests that Varoufakis possessed his own motives which involved advancing Varoufakis's publications and testing out his own economic models on Greece instead of truly advocating its financial survival.
Tsipras explained how those discussions to avoid insolvency were “not just a way to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the validity of his ideas.”
High-Stakes Talks
Amid volatile negotiations, Greece came dangerously close to leaving the single currency area.
On the line lay not only Greece's destiny and those harsh cutbacks demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Efforts to find funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, a move which threw Europe into a deeper existential crisis.
Even though the vote was won resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result then agree to a bailout package with creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy involving establishing a secondary currency and issuing coupons to retirees, the leader knew that it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the book, the author asserts that his former ally demonstrated himself to be “unsuitable for a deal that required complex and delicate handling.”
Tsipras further wrote that his confrontational style left him increasingly isolated among peers, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
