In a newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he examines that chaotic period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, Tsipras chose that maverick academic Yanis Varoufakis as the treasury head mainly because of his worldwide fame along with his very persuasive skills when it came to speaker.
“He was, truthfully, more like a star rather than an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras alleges that his finance chief possessed a personal agenda that involved advancing Varoufakis's books as well as testing out his own theories using the nation rather than genuinely advocating the country's financial survival.
He explained how the negotiations to prevent bankruptcy became “not just a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile discussions, Greece came perilously close to exiting the eurozone.
At stake lay not only the country's future and those punishing austerity policies demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the excoriating bailout terms were put to a public vote, a move that plunged the EU into a deeper existential crisis.
Even though the vote was won resoundingly by those against the cuts, Tsipras had little option but to reject its outcome and negotiate a bailout package with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, the leader knew that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for an agreement that required intricate and sensitive handling.”
He also claimed that his confrontational style made him more and more alone among peers, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
The retelling of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
