Within his freshly published personal account, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches as he examines the chaotic era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, he selected the unorthodox academic Yanis Varoufakis to be the finance minister mainly due to his global profile and Varoufakis's highly compelling abilities when it came to public orator.
“He was, in reality, more like a star rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras claims that his finance chief had his own agenda which included promoting Varoufakis's publications as well as testing out his own game theories using the nation rather than truly fighting for the country's economic stability.
Tsipras explained how the discussions to stave off bankruptcy were “not only a way of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the validity of his ideas.”
Critical Talks
Amid volatile discussions, Greece found itself dangerously close to exiting the eurozone.
On the line lay both the country's destiny but also the punishing austerity measures required in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to find funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were subjected to a popular referendum, an action that plunged Europe into a deeper crisis of identity.
Although the vote was carried resoundingly by voters against the cuts, the prime minister had little option to reject its outcome then agree to a rescue deal with creditors which turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras knew it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further wrote that his confrontational style left him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for Grexit.
This retelling of events has provoked anger and shock among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
