Within his freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, he chose the unorthodox economist Yanis Varoufakis as his finance minister mainly because of the latter's worldwide fame and his very persuasive abilities as a public orator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis possessed his own agenda that involved promoting his publications as well as testing out his own theories on the nation instead of genuinely advocating the country's financial survival.
Tsipras explained how the talks to prevent insolvency became “not only a method of achieving improved terms for Greece. They were an experiment, a monumental chance to prove the validity of his theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously close to exiting the single currency area.
At stake lay both Greece's future and the harsh austerity measures demanded in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, an action that plunged the EU into further existential crisis.
Even though the referendum was won decisively by voters against the cuts, Tsipras was forced to ignore the result then agree to a bailout package with creditors which turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author asserts how Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
He also claimed how his aggressive style made him increasingly isolated among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
The account of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
