Within his freshly published personal account, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he revisits the turbulent era during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's recollections, he chose the unorthodox economist Yanis Varoufakis to be his finance minister largely due to his worldwide fame along with Varoufakis's highly compelling abilities as a public orator.
“He was, truthfully, more of a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims how his finance chief possessed a personal motives which included promoting his publications and testing out his theories using Greece instead of genuinely fighting for its financial survival.
Tsipras noted how the discussions to prevent insolvency became “not just a way of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the truth of his theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line lay not only the country's destiny and those harsh austerity measures required in exchange for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move that threw Europe into a further existential crisis.
Although the referendum was carried resoundingly by voters against the cuts, the prime minister was forced to reject its outcome and agree to a bailout package from foreign lenders that turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the book, Tsipras asserts how his former ally had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
He also wrote that his confrontational style left him more and more alone with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
The account of history has been met with anger along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
