Within his newly released personal account, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines that chaotic period of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, Tsipras selected that maverick academic Yanis Varoufakis to be the finance minister mainly because of the latter's worldwide fame along with Varoufakis's very persuasive abilities when it came to speaker.
“He was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis had his own motives which involved advancing his publications as well as testing out his theories on Greece instead of truly fighting for its economic stability.
Tsipras noted that the talks to stave off insolvency became “not just a method of achieving improved terms for the country. They were a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
At stake was not only the country's destiny and the severe cutbacks demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were put to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, the prime minister was forced but to ignore the result then agree to a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and issuing vouchers to pensioners, the leader said he realised it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras also wrote how his confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating Grexit.
The retelling of history has provoked fury and stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
