Within his freshly published personal account, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines that chaotic era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, Tsipras chose the maverick economist Yanis Varoufakis as the finance minister primarily due to his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more like a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis possessed a personal agenda which included promoting his publications and experimenting with his game theories on the nation instead of genuinely advocating its financial survival.
He wrote how the discussions to stave off insolvency became “not only a way to secure improved terms for the country. They became an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Talks
Amid rollercoaster negotiations, Greece came dangerously close to exiting the eurozone.
On the line was both Greece's destiny but also the punishing austerity measures demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the punitive bailout terms were subjected to a public vote, a move that plunged the EU into deeper crisis of identity.
Even though the vote was carried decisively by those against austerity, the prime minister was forced to ignore the result and negotiate a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes that Varoufakis demonstrated himself “unfit for a deal that required complex and sensitive management.”
Tsipras further claimed that his aggressive approach left him more and more alone among peers, put Greece at risk, while helped hawks who were advocating Grexit.
The account of events has provoked fury and shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
