In a newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he examines the chaotic era during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's version, he selected that maverick academic Yanis Varoufakis as his finance minister primarily because of his international reputation along with his “extremely attractive” skills as a public orator.
“He was, truthfully, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras suggests that Varoufakis had a personal agenda which included promoting his publications and testing out his own theories on Greece rather than truly advocating its financial survival.
Tsipras wrote how the negotiations to prevent insolvency were “not only a method of achieving a better deal for Greece. They were a test, an historic chance to demonstrate the truth of his ideas.”
Critical Negotiations
During volatile negotiations, Greece found itself dangerously on the brink of exiting the single currency area.
On the line was not only the country's future but also the punishing austerity policies demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the excoriating conditions were put to a popular referendum, an action that threw Europe into a deeper existential crisis.
Even though the vote was won decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a bailout package from creditors which proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that his former ally demonstrated himself “unfit for a deal demanding complex and sensitive management.”
He further wrote how Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hawks that were pushing for Grexit.
This account of history has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
