In a newly released personal account, named Ithaki, the former premier Alexis Tsipras does not hold back while he revisits the turbulent era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, he appointed that maverick academic Yanis Varoufakis to be his finance minister primarily due to his international reputation along with his very persuasive abilities when it came to public orator.
“He was, in reality, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis possessed a personal motives which involved advancing Varoufakis's books as well as experimenting with his economic models using the nation instead of genuinely fighting for its financial survival.
He noted that those talks to stave off insolvency became “not only a method of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the validity of his theories.”
Critical Negotiations
During volatile discussions, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay not only the country's future but also the severe austerity policies demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were put to a popular referendum, a move that plunged the EU into a further crisis of identity.
Although the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced to ignore the result then agree to a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan that included establishing a parallel currency as well as issuing coupons to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes that Varoufakis demonstrated himself “unfit for a deal demanding intricate and delicate handling.”
He also claimed that Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners that were pushing for Grexit.
The account of history has provoked fury along with shock among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
