In a freshly published personal account, called Ithaki, the former premier Alexis Tsipras does not hold back as he examines that chaotic era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, he chose that maverick academic Yanis Varoufakis to be his treasury head mainly because of the latter's international reputation and Varoufakis's very persuasive abilities as a public orator.
“He was, in reality, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief possessed a personal agenda that involved promoting Varoufakis's publications and testing out his own game theories using the nation rather than genuinely fighting for the country's economic stability.
He wrote how those negotiations to avoid insolvency became “not just a method of achieving a better deal for Greece. They were a test, an historic chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
During tense discussions, the country came dangerously on the brink of leaving the eurozone.
At stake lay not only Greece's destiny and those severe cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, a move which plunged the EU into a deeper existential crisis.
Even though the vote was carried decisively by those who opposed the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal from creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the memoir, the author concludes how his former ally demonstrated himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras also wrote that his confrontational style made him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
The account of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
