Within his freshly published personal account, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines the turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, he appointed that maverick economist Yanis Varoufakis to be his treasury head largely because of the latter's international reputation along with his “extremely attractive” abilities when it came to speaker.
“He was, in reality, more like a star and less of an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief had his own motives which involved advancing Varoufakis's publications and experimenting with his economic models on the nation rather than truly advocating its economic stability.
Tsipras noted that those talks to avoid insolvency became “not just a way to secure improved terms for the country. They became a test, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece came dangerously close to exiting the eurozone.
At stake lay both the country's future but also those harsh austerity policies required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and Reversal
That summer, the excoriating conditions were subjected to a popular referendum, an action that plunged Europe into further crisis of identity.
Although the referendum was carried decisively by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal from creditors which proved to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included creating a parallel currency and distributing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
He also claimed that Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, while assisted hardliners who were pushing for Grexit.
This retelling of events has provoked anger along with shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
