In a newly released personal account, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines the turbulent period during Greece's financial crisis.
A Controversial Choice
In Tsipras's version, he chose that maverick academic Yanis Varoufakis to be his treasury head mainly because of his worldwide fame along with Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis had a personal agenda that involved promoting his books and testing out his economic models using Greece rather than truly advocating its financial survival.
He noted that those talks to prevent bankruptcy became “not only a way of achieving a better deal for Greece. They were a test, an historic chance to prove the truth of his ideas.”
High-Stakes Negotiations
During tense discussions, Greece found itself dangerously close to leaving the eurozone.
On the line was not only Greece's future and the punishing cutbacks required in return for bailout funds from international creditors.
Failed Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were put to a public vote, an action that threw the EU into a further crisis of identity.
Even though the referendum was won decisively by voters against the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal with foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving creating a parallel currency and issuing coupons to pensioners, Tsipras knew that it was game over questioning him: “Is this for real?”
Lasting Rebuke
In the book, the author asserts how his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He further wrote how his confrontational style left him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This account of events has provoked fury along with shock among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
