In a recently unveiled personal account, called Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines the turbulent era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, Tsipras chose that unorthodox economist Yanis Varoufakis to be the treasury head primarily due to his worldwide fame along with his highly compelling abilities as a communicator.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief had his own agenda that involved advancing his books and experimenting with his economic models using the nation instead of truly advocating the country's economic stability.
Tsipras noted how the discussions to prevent insolvency became “not just a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid tense negotiations, the country came dangerously on the brink of exiting the single currency area.
On the line lay not only the country's destiny but also the punishing austerity policies demanded in exchange for rescue loans from foreign lenders.
Failed 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 tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action that plunged Europe into a further existential crisis.
Although the referendum was won resoundingly by voters against austerity, Tsipras had little option to ignore the result and negotiate a rescue deal from foreign lenders that proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications the world over … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan that included creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Enduring Criticism
Within the book, the author asserts how Varoufakis had proved himself to be “unfit for a deal demanding complex and sensitive management.”
Tsipras also claimed how his aggressive style made him more and more alone with colleagues, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
This account of history has been met with fury and shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
