In a newly released personal account, called Ithaki, the former premier Alexis Tsipras does not hold back as he examines the turbulent era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, Tsipras chose that maverick economist Yanis Varoufakis to be the finance minister mainly due to his global profile and Varoufakis's “extremely attractive” skills when it came to speaker.
“In reality, he was, in reality, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Priorities
The former leader suggests how his finance chief had a personal motives which included promoting his publications as well as experimenting with his game theories using Greece rather than genuinely fighting for the country's economic stability.
He noted how the negotiations to prevent insolvency were “not only a way of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During tense negotiations, Greece found itself perilously close to exiting the eurozone.
On the line was both the country's destiny but also the punishing cutbacks required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, an action which plunged Europe into deeper crisis of identity.
Even though the referendum was won decisively by those against the cuts, Tsipras had little option to reject its outcome and agree to a rescue deal with creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes that Varoufakis had proved himself to be “unfit for an agreement demanding complex and sensitive management.”
Tsipras also claimed that his confrontational style made him more and more alone among peers, put Greece at risk, and assisted hardliners that were pushing for Grexit.
This account of history has provoked anger and shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
