In a recently unveiled personal account, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he examines the chaotic era of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's account, he selected that maverick economist Yanis Varoufakis as the finance minister largely because of the latter's international reputation and Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, truthfully, more of a personality and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis possessed a personal motives which involved promoting his books as well as experimenting with his own game theories on the nation instead of genuinely fighting for its economic stability.
Tsipras wrote that those negotiations to stave off bankruptcy became “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line lay both the country's future and those punishing austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the punitive bailout terms were put to a popular referendum, an action that plunged the EU into deeper existential crisis.
Even though the referendum was won decisively by those who opposed austerity, the prime minister had little option but to ignore the result then negotiate a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, the leader knew that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras further wrote that his aggressive approach made him increasingly isolated among peers, endangered the country, while assisted hawks who were advocating Grexit.
The retelling of history has provoked fury along with shock in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
