Within his newly released personal account, titled Ithaki, the ex- leader Alexis Tsipras does not hold back while he revisits that chaotic era of Greece's debt drama.
A Controversial Appointment
According to Tsipras's recollections, he appointed the maverick economist Yanis Varoufakis to be his finance minister mainly because of his global profile along with his “extremely attractive” abilities when it came to speaker.
“He was, in reality, more of a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis possessed a personal agenda that involved promoting Varoufakis's publications and experimenting with his game theories using the nation rather than truly advocating its financial survival.
Tsipras noted that the negotiations to stave off bankruptcy became “not only a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to prove the validity of his economic theories.”
Critical Negotiations
Amid tense discussions, the country found itself dangerously on the brink of leaving the single currency area.
At stake was not only Greece's destiny and the punishing austerity policies demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to find funds from other sources, such as an urgent plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action that plunged Europe into deeper existential crisis.
Although the vote was won decisively by voters who opposed austerity, the prime minister had little option but to ignore the result and agree to a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
After the minister proposed a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He also wrote how his confrontational style made him more and more alone among peers, endangered the country, while assisted hawks that were advocating Grexit.
This retelling of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
