Within his recently unveiled personal account, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on that turbulent period of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, Tsipras selected that maverick academic Yanis Varoufakis to be the treasury head largely because of his international reputation and his very persuasive abilities when it came to communicator.
“He was, actually, more like a star rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests that Varoufakis had a personal motives that involved advancing his publications as well as experimenting with his own theories using the nation rather than genuinely fighting for its economic stability.
He wrote how the negotiations to prevent bankruptcy became “not only a method of achieving improved terms for Greece. They became a test, an historic opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid rollercoaster discussions, the country came perilously close to exiting the eurozone.
On the line was not only the country's destiny but also those harsh austerity measures demanded in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, a move that plunged Europe into further existential crisis.
Even though the referendum was won decisively by voters against the cuts, Tsipras was forced to ignore the result and negotiate a rescue deal with creditors that proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts that his former ally demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras also wrote that his confrontational approach made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
The account of history has provoked anger along with shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
