Within his recently unveiled personal account, named Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he revisits the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's version, he chose the unorthodox academic Yanis Varoufakis as his treasury head mainly because of his global profile along with his “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more like a personality and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had a personal agenda that included promoting his publications and experimenting with his own economic models on Greece rather than truly fighting for its economic stability.
Tsipras noted how those talks to stave off bankruptcy became “not only a way of achieving a better deal for the country. They were an experiment, an historic opportunity to prove the validity of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself perilously on the brink of exiting the eurozone.
At stake was not only the country's future but also those punishing cutbacks demanded in return for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the harsh bailout terms were put to a public vote, an action that plunged the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by those against austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal from creditors which proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as distributing vouchers to retirees, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis demonstrated himself “unsuitable for a deal that required complex and delicate management.”
He also claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with shock in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
