In a newly released personal account, named Ithaki, the former premier Alexis Tsipras does not hold back while he revisits that turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, Tsipras chose the maverick economist Yanis Varoufakis to be his treasury head mainly because of the latter's worldwide fame and Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, actually, more like a celebrity and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis possessed his own motives which included advancing Varoufakis's publications and testing out his own game theories using the nation instead of genuinely fighting for its economic stability.
He wrote that those discussions to stave off insolvency became “not only a method to secure a better deal for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid volatile negotiations, Greece came dangerously close to leaving the eurozone.
On the line lay both the country's future and the harsh austerity policies required in return for financial aid from international creditors.
Failed Options
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the harsh conditions were subjected to a public vote, an action which plunged the EU into further existential crisis.
Even though the vote was won decisively by those against austerity, the prime minister had little option but to ignore the result then negotiate a rescue deal with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency and issuing coupons to pensioners, the leader knew it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He also claimed that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were advocating Grexit.
The account of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has kept a deafening silence on the matter.
