Within his newly released autobiography, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines that chaotic era of Greece's financial crisis.
A Controversial Choice
In Tsipras's account, Tsipras chose that maverick economist Yanis Varoufakis as the treasury head primarily due to his worldwide fame and his “extremely attractive” abilities when it came to speaker.
“He was, truthfully, more of a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges how his finance chief had a personal motives which included advancing Varoufakis's publications as well as testing out his economic models using the nation rather than genuinely fighting for the country's financial survival.
He wrote how those talks to prevent insolvency became “not just a method of achieving a better deal for Greece. They were an experiment, a monumental chance to prove the validity of his ideas.”
High-Stakes Talks
During volatile discussions, Greece found itself perilously close to leaving the eurozone.
On the line was not only the country's future and the punishing cutbacks demanded in exchange for rescue loans from international creditors.
Failed Options
Attempts to secure financing elsewhere, including a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, an action that threw the EU into deeper crisis of identity.
Although the vote was won decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome and agree to a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and delicate management.”
He further claimed how Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The retelling of history has been met with fury and shock among certain groups, while Varoufakis has maintained a deafening silence on the matter.
