Within his freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches while he revisits the turbulent era of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's version, he chose that unorthodox academic Yanis Varoufakis as the finance minister mainly due to his global profile along with Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, in reality, more like a personality rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests how Varoufakis possessed a personal motives that included promoting his books and experimenting with his own game theories on Greece rather than genuinely fighting for its financial survival.
He noted that those discussions to stave off bankruptcy became “not only a way of achieving a better deal for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Talks
During rollercoaster negotiations, Greece found itself perilously close to exiting the eurozone.
On the line lay both Greece's destiny and the punishing austerity measures required in return for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, an action that threw the EU into deeper crisis of identity.
Although the vote was carried decisively by voters who opposed austerity, Tsipras was forced to reject its outcome and agree to a rescue deal from foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving creating a secondary currency as well as issuing coupons to retirees, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself “unfit for an agreement that required complex and sensitive handling.”
Tsipras also wrote that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of events has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
