Within his recently unveiled personal account, named Ithaki, the former leader Alexis Tsipras pulls no punches while he examines the turbulent era during Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, he appointed that unorthodox academic Yanis Varoufakis as his finance minister primarily because of the latter's international reputation and his “extremely attractive” skills when it came to speaker.
“He was, actually, more like a personality rather than an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis possessed a personal agenda that included advancing Varoufakis's books as well as testing out his game theories on Greece rather than genuinely fighting for its economic stability.
Tsipras noted that those discussions to stave off bankruptcy were “not only a method to secure a better deal for Greece. They became an experiment, an historic chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country came perilously close to leaving the eurozone.
On the line was both Greece's future and those punishing cutbacks required in return for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, an action that plunged the EU into a further existential crisis.
Although the vote was carried resoundingly by those against the cuts, Tsipras was forced but to ignore the result and agree to a rescue deal from creditors that turned out to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the covers of magazines globally … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts how his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive handling.”
He also wrote that his aggressive approach made him more and more alone among peers, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
The retelling of events has been met with fury and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
