Within his freshly published personal account, called Ithaki, the former leader Alexis Tsipras pulls no punches while he examines that chaotic era during Greece's debt drama.
An Unconventional Choice
As per Tsipras's recollections, Tsipras selected that unorthodox economist Yanis Varoufakis as the treasury head primarily because of his international reputation along with Varoufakis's highly compelling skills when it came to public orator.
“He was, truthfully, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief possessed a personal motives which involved promoting his publications and testing out his economic models on Greece instead of truly advocating the country's financial survival.
He wrote that those discussions to prevent insolvency were “not just a way to secure improved terms for the country. They became a test, an historic opportunity to prove the validity of his theories.”
Critical Negotiations
During tense negotiations, the country found itself dangerously on the brink of exiting the eurozone.
On the line was not only the country's future and the severe austerity policies demanded in return for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive conditions were put to a popular referendum, a move that threw the EU into a deeper existential crisis.
Even though the vote was won resoundingly by voters against the cuts, Tsipras had little option but to ignore the result then agree to a rescue deal with foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency and distributing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author concludes that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and sensitive handling.”
He also wrote that his confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hardliners who were pushing for Grexit.
The retelling of history has been met with fury and stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
