In a newly released personal account, named Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines that turbulent era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's account, he appointed the unorthodox academic Yanis Varoufakis to be the treasury head primarily because of his global profile along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more of a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief possessed a personal agenda that included promoting his books and experimenting with his own game theories using the nation instead of genuinely advocating the country's economic stability.
Tsipras noted how the negotiations to prevent bankruptcy became “not just a method of achieving improved terms for the country. They were a test, an historic opportunity to prove the truth of his theories.”
Critical Negotiations
Amid volatile discussions, the country came perilously close to leaving the eurozone.
At stake was not only the country's future but also those harsh cutbacks required in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, an action that plunged Europe into a deeper existential crisis.
Although the vote was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result then agree to a bailout package from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over questioning him: “Are you serious?”
Enduring Criticism
In the book, the author asserts that his former ally had proved himself to be “unsuitable for a deal that required complex and sensitive management.”
He also claimed that Varoufakis's confrontational approach made him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
The retelling of events has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
