Within his freshly published personal account, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits the chaotic era during Greece's financial crisis.
An Unconventional Choice
According to Tsipras's account, Tsipras chose that maverick economist Yanis Varoufakis to be the finance minister primarily because of the latter's global profile and Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, in reality, more of a celebrity and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader alleges how Varoufakis had a personal agenda which included advancing Varoufakis's books and experimenting with his game theories using the nation instead of genuinely fighting for its economic stability.
He explained that the negotiations to prevent insolvency became “not just a method to secure improved terms for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself perilously close to exiting the single currency area.
At stake lay not only Greece's destiny but also those harsh austerity policies demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure financing elsewhere, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were put to a popular referendum, an action which threw the EU into further crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, Tsipras had little option to ignore the result and negotiate a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy that included creating a secondary currency and distributing coupons to retirees, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts how Varoufakis had proved himself to be “unfit for a deal that required intricate and sensitive management.”
He also claimed how his confrontational approach left him more and more alone among peers, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
