Within his recently unveiled memoir, called Ithaki, the former leader Alexis Tsipras pulls no punches while he examines the chaotic period during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, Tsipras selected that maverick economist Yanis Varoufakis to be his treasury head largely because of the latter's global profile and his “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras alleges how his finance chief had a personal agenda that included advancing Varoufakis's books as well as testing out his own economic models using the nation rather than truly advocating its economic stability.
He noted how the negotiations to prevent insolvency became “not just a way of achieving improved terms for the country. They were a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny but also those severe cutbacks demanded in return for financial aid by foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the harsh conditions were subjected to a public vote, a move that threw Europe into deeper existential crisis.
Even though the referendum was carried resoundingly by voters who opposed austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal with creditors which proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy that included creating a parallel currency and distributing vouchers to pensioners, the leader knew that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes that Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and delicate management.”
Tsipras also claimed that his aggressive style left him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
This retelling of events has provoked anger along with shock among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
