In a recently unveiled personal account, called Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines the chaotic period of Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, he selected that maverick economist Yanis Varoufakis to be the finance minister primarily due to the latter's worldwide fame along with his highly compelling skills as a speaker.
“In reality, he was, in reality, more of a celebrity and less of an economist,” recalled Tsipras.
Conflicting Priorities
The former leader claims that his finance chief had his own motives that involved promoting Varoufakis's books as well as testing out his own game theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras noted how those discussions to prevent insolvency were “not just a way of achieving improved terms for Greece. They became a test, an historic chance to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
During volatile discussions, Greece found itself perilously on the brink of leaving the single currency area.
At stake was both the country's destiny but also those harsh austerity measures demanded in return for financial aid from foreign lenders.
Failed Options
Efforts to find funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those excoriating bailout terms were put to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Even though the vote was carried decisively by those who opposed austerity, Tsipras was forced but to ignore the result and agree to a bailout package from creditors that proved to be more severe.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the book, the author concludes how Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
