In a freshly published personal account, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits the turbulent era of Greece's debt drama.
An Unconventional Choice
As per Tsipras's account, he appointed that maverick academic Yanis Varoufakis as the finance minister mainly due to the latter's worldwide fame and his highly compelling skills when it came to communicator.
“In reality, he was, in reality, more like a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims that his finance chief possessed a personal motives that included promoting Varoufakis's books as well as testing out his theories on the nation instead of truly advocating the country's financial survival.
Tsipras wrote how the discussions to avoid insolvency were “not only a method to secure improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
At stake lay both Greece's destiny and those severe austerity policies required in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those punitive bailout terms were put to a public vote, a move which threw Europe into further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, the prime minister had little option to ignore the result and agree to a rescue deal from creditors that proved to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a contingency plan that included establishing a parallel currency and issuing coupons to retirees, Tsipras knew it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
The retelling of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
