Within his newly released personal account, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines the chaotic period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, he chose the maverick academic Yanis Varoufakis to be his treasury head mainly because of the latter's international reputation and his very persuasive skills when it came to communicator.
“In reality, he was, actually, more like a star and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras claims that his finance chief possessed a personal motives which involved promoting Varoufakis's books and experimenting with his own theories using the nation instead of truly fighting for its financial survival.
He explained that those negotiations to stave off bankruptcy became “not just a method of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the validity of his theories.”
Critical Negotiations
Amid tense negotiations, Greece found itself perilously close to leaving the single currency area.
On the line was not only Greece's future and those punishing austerity measures demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the harsh bailout terms were put to a public vote, an action which threw the EU into deeper crisis of identity.
Although the referendum was carried decisively by voters against austerity, the prime minister had little option but to ignore the result and agree to a bailout package from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who graced the covers of publications globally … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency and distributing vouchers to retirees, the leader said he realised it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras further claimed how his confrontational approach made him increasingly isolated among peers, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
