Within his freshly published memoir, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines that turbulent period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, he chose the maverick academic Yanis Varoufakis as his treasury head primarily due to his worldwide fame along with his very persuasive abilities as a speaker.
“He was, truthfully, more like a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed his own motives which included promoting his publications and testing out his game theories on the nation rather than genuinely advocating the country's financial survival.
He noted that the negotiations to prevent insolvency became “not only a way of achieving improved terms for the country. They became an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
During volatile discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line lay both Greece's future and those harsh austerity measures required in exchange for bailout funds by international creditors.
Failed Options
Efforts to find funds elsewhere, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the harsh bailout terms were put to a popular referendum, a move that plunged the EU into further crisis of identity.
Although the referendum was carried decisively by voters against the cuts, Tsipras had little option to ignore the result then negotiate a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving creating a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts how Varoufakis demonstrated himself “unfit for a deal that required complex and delicate management.”
Tsipras also wrote that his confrontational approach made him more and more alone among peers, endangered the country, and assisted hardliners who were advocating Grexit.
The account of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
