Within his recently unveiled personal account, titled Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines the turbulent period during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's account, Tsipras chose that maverick economist Yanis Varoufakis to be his treasury head largely due to the latter's worldwide fame and Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, actually, more of a star and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis had his own motives that included advancing Varoufakis's publications as well as testing out his own economic models on the nation instead of genuinely advocating its financial survival.
He wrote that the negotiations to prevent insolvency were “not just a way to secure improved terms for Greece. They were a test, a monumental chance to prove the validity of his theories.”
Critical Negotiations
Amid volatile negotiations, Greece found itself perilously on the brink of leaving the single currency area.
On the line was not only the country's destiny but also the severe austerity measures required in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh bailout terms were subjected to a popular referendum, a move that plunged the EU into deeper crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal from creditors which turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted media attention, who graced the covers of publications globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included establishing a secondary currency and distributing coupons to pensioners, the leader said he realised it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras also claimed that his aggressive style made him more and more alone among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
The retelling of events has provoked fury along with shock in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.
