Within his recently unveiled personal account, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he revisits the turbulent period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, Tsipras appointed that unorthodox economist Yanis Varoufakis to be the finance minister largely due to the latter's worldwide fame along with his very persuasive abilities when it came to speaker.
“He was, truthfully, more like a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges that Varoufakis possessed a personal agenda that involved promoting his publications as well as experimenting with his own theories on the nation instead of truly advocating the country's financial survival.
Tsipras wrote that the negotiations to stave off bankruptcy became “not only a way to secure improved terms for Greece. They were a test, an historic chance to demonstrate the validity of his theories.”
High-Stakes Talks
During tense discussions, the country found itself dangerously close to leaving the single currency area.
At stake lay both Greece's destiny and the severe cutbacks demanded in return for rescue loans from international creditors.
Failed Options
Efforts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, an action that threw the EU into a further crisis of identity.
Although the referendum was carried decisively by those who opposed austerity, Tsipras had little option to reject its outcome then negotiate a bailout package from creditors that turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts how Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate management.”
He also claimed that his confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were pushing for Grexit.
This account of events has provoked anger and shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
