In a recently unveiled memoir, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he reflects on that chaotic era of Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed the maverick economist Varoufakis to be his finance minister largely because of his worldwide fame along with his highly compelling abilities when it came to speaker.
“He was, in reality, more of a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims that his finance chief had his own motives which included promoting his publications as well as experimenting with his game theories on Greece instead of genuinely fighting for its economic stability.
Tsipras noted how the negotiations to stave off insolvency became “not just a method to secure a better deal for Greece. They were a test, an historic chance to demonstrate the truth of his theories.”
Critical Talks
During volatile negotiations, the country came perilously close to exiting the single currency area.
At stake was not only Greece's future but also those punishing austerity measures required in return for rescue loans by international creditors.
Failed Options
Efforts to secure financing elsewhere, such as an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the harsh bailout terms were subjected to a public vote, a move that threw Europe into deeper crisis of identity.
Although the referendum was won decisively by those against austerity, Tsipras had little option but to ignore the result then agree to a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes that his former ally had proved himself to be “unfit for a deal demanding complex and delicate management.”
Tsipras also wrote that his aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for Grexit.
The retelling of events has been met with anger along with shock among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
