Within his newly released personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits the turbulent era of Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, he chose the maverick economist Yanis Varoufakis as the finance minister primarily because of his global profile along with his “extremely attractive” abilities when it came to speaker.
“He was, actually, more of a personality and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed a personal motives which involved promoting Varoufakis's publications as well as testing out his own game theories on Greece instead of truly fighting for its financial survival.
He noted that those discussions to stave off insolvency became “not just a way of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
During tense negotiations, the country came dangerously close to exiting the eurozone.
At stake was not only the country's future and the severe austerity measures demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the punitive conditions were subjected to a public vote, a move which plunged the EU into a further existential crisis.
Although the referendum was won resoundingly by those against the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts how his former ally had proved himself to be “unfit for a deal demanding intricate and sensitive handling.”
He also wrote how his aggressive approach made him more and more alone among peers, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
The account of events has been met with anger and shock among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
