Within his recently unveiled personal account, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches as he reflects on that chaotic era during Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, he selected the maverick economist Yanis Varoufakis as the treasury head largely due to his international reputation and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief possessed a personal motives that included advancing Varoufakis's books as well as testing out his own theories using the nation instead of truly fighting for its financial survival.
He noted that those discussions to avoid bankruptcy became “not just a way to secure improved terms for Greece. They became a test, an historic opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line lay both the country's destiny but also the severe cutbacks demanded in exchange for financial aid by foreign lenders.
Failed Options
Attempts to secure financing from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those excoriating bailout terms were subjected to a public vote, an action which threw Europe into a deeper crisis of identity.
Even though the vote was carried decisively by voters who opposed the cuts, the prime minister was forced to ignore the result and negotiate a bailout package from foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included creating a parallel currency and issuing vouchers to pensioners, the leader knew it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself to be “unfit for an agreement that required complex and delicate management.”
Tsipras also wrote how his aggressive style made him more and more alone among peers, endangered the country, while helped hardliners who were pushing for Grexit.
The account of events has provoked fury along with shock among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
