Within his recently unveiled personal account, named Ithaki, the former premier Alexis Tsipras does not hold back as he examines the turbulent period of Greece's debt drama.
An Unconventional Choice
According to Tsipras's recollections, Tsipras selected that maverick academic Yanis Varoufakis as his treasury head largely due to the latter's global profile and Varoufakis's very persuasive abilities when it came to speaker.
“He was, in reality, more like a celebrity and less of an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief possessed his own motives that included advancing his publications and experimenting with his theories on Greece rather than truly advocating its financial survival.
He explained how the negotiations to stave off bankruptcy were “not just a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the truth of his theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came dangerously close to exiting the eurozone.
On the line lay both Greece's future but also those harsh austerity policies demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, an action which plunged Europe into a deeper existential crisis.
Even though the vote was carried decisively by voters who opposed austerity, the prime minister had little option to ignore the result then agree to a rescue deal from creditors which turned out to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”
Tsipras further claimed that his confrontational style left him more and more alone among peers, endangered the country, and helped hawks that were advocating Grexit.
The retelling of events has provoked fury along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
