In a recently unveiled personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines that chaotic period of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, Tsipras chose the unorthodox academic Yanis Varoufakis to be the finance minister largely due to his global profile along with his very persuasive skills as a speaker.
“He was, truthfully, more like a star and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims how Varoufakis possessed a personal agenda which involved promoting Varoufakis's publications as well as experimenting with his own economic models on Greece instead of genuinely advocating its financial survival.
Tsipras noted that the talks to prevent bankruptcy were “not only a way to secure a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
During volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.
At stake was both Greece's destiny and the punishing austerity policies required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, an action which plunged the EU into deeper existential crisis.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a rescue deal from creditors that proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
After the minister outlined a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also wrote how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
This retelling of events has provoked fury along with shock among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
