In a recently unveiled autobiography, titled Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits that turbulent period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's recollections, he chose that maverick economist Yanis Varoufakis to be his treasury head largely due to his worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, actually, more like a star rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader suggests how his finance chief had his own motives which included advancing his publications and testing out his economic models on the nation rather than genuinely fighting for the country's economic stability.
Tsipras explained how the negotiations to prevent insolvency became “not just a method of achieving improved terms for Greece. They became a test, a monumental chance to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster negotiations, Greece came perilously on the brink of leaving the eurozone.
On the line lay not only the country's future but also the harsh cutbacks required in exchange for financial aid from international creditors.
Failed Options
Efforts to find financing from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were put to a public vote, an action which plunged the EU into a further crisis of identity.
Even though the vote was won resoundingly by voters who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts how Varoufakis had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
He also wrote how his aggressive approach left him more and more alone with colleagues, endangered the country, and helped hawks that were pushing for Grexit.
The retelling of events has been met with fury along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.
