In a recently unveiled personal account, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he examines the turbulent era during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, Tsipras chose that maverick economist Yanis Varoufakis to be the finance minister largely due to the latter's international reputation along with Varoufakis's very persuasive skills as a public orator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own motives that included promoting his publications as well as testing out his theories using Greece instead of genuinely fighting for its financial survival.
He noted that those talks to avoid insolvency became “not just a way to secure a better deal for the country. They were a test, a monumental opportunity to prove the truth of his theories.”
High-Stakes Negotiations
During volatile negotiations, the country found itself perilously on the brink of leaving the single currency area.
On the line lay both Greece's future but also those punishing cutbacks required in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, an action which threw Europe into a deeper crisis of identity.
Although the vote was carried decisively by voters against the cuts, the prime minister was forced to ignore the result then agree to a rescue deal from creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the face of the talks, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts how his former ally had proved himself to be “unsuitable for a deal that required intricate and sensitive handling.”
He further wrote that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were pushing for Grexit.
The account of history has been met with fury along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
