In a recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras pulls no punches while he revisits that chaotic era of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras selected that unorthodox economist Yanis Varoufakis as his treasury head primarily due to his global profile along with his very persuasive abilities when it came to speaker.
“In reality, he was, actually, more like a star rather than an economic expert,” stated Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis possessed a personal agenda that included promoting his books as well as experimenting with his own economic models using the nation rather than truly fighting for the country's economic stability.
Tsipras wrote how the discussions to avoid bankruptcy became “not only a way of achieving a better deal for the country. They were a test, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid tense discussions, Greece came dangerously on the brink of exiting the single currency area.
At stake lay not only the country's destiny and the harsh austerity measures required in return for rescue loans from international creditors.
Failed Options
Attempts to secure financing elsewhere, including a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, those punitive conditions were subjected to a public vote, a move which plunged the EU into a further crisis of identity.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister was forced but to ignore the result and negotiate a bailout package with foreign lenders that turned out to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving creating a parallel currency as well as distributing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for an agreement that required complex and delicate management.”
He further claimed that his confrontational style made him more and more alone among peers, endangered the country, and helped hawks that were pushing for Grexit.
The account of events has provoked anger along with shock among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
