Within his newly released memoir, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines that turbulent period during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's version, Tsipras appointed that maverick economist Yanis Varoufakis to be the treasury head primarily due to the latter's worldwide fame and Varoufakis's highly compelling skills when it came to communicator.
“He was, truthfully, more of a personality and less of an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims that Varoufakis possessed a personal motives which involved promoting his books as well as experimenting with his own game theories on the nation instead of truly fighting for its economic stability.
Tsipras explained that the negotiations to avoid insolvency became “not just a method to secure a better deal for the country. They were a test, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself dangerously close to leaving the single currency area.
At stake lay both the country's destiny but also the severe austerity measures demanded in exchange for bailout funds from international creditors.
Failed Options
Efforts to find funds elsewhere, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
That summer, the excoriating bailout terms were subjected to a public vote, a move that plunged Europe into further crisis of identity.
Even though the vote was carried resoundingly by voters against the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal with creditors which turned out to be more severe.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a parallel currency and distributing coupons to retirees, the leader knew it was game over questioning him: “Are you serious?”
Enduring Criticism
In the book, the author asserts that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
Tsipras also claimed that Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
