Within his freshly published personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits that turbulent era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's recollections, he appointed the unorthodox academic Yanis Varoufakis as his finance minister primarily because of his worldwide fame and his very persuasive abilities as a public orator.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief had his own motives which involved promoting his publications and testing out his theories on the nation rather than truly advocating the country's economic stability.
Tsipras wrote how those talks to prevent insolvency were “not only a method to secure improved terms for the country. They were a test, a monumental chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously on the brink of exiting the single currency area.
At stake was both the country's future and those severe cutbacks demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were put to a public vote, an action which threw Europe into a further existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome and agree to a bailout package with creditors which turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts how his former ally had proved himself “unfit for a deal that required intricate and sensitive handling.”
Tsipras also claimed that his confrontational approach made him more and more alone among peers, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
The account of history has been met with anger along with shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
