Within his recently unveiled personal account, called Ithaki, the former premier Alexis Tsipras does not hold back while he examines the chaotic period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, Tsipras selected that maverick academic Yanis Varoufakis as the treasury head largely because of his global profile and Varoufakis's very persuasive skills as a communicator.
“In reality, he was, actually, more like a personality rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own agenda that involved advancing his publications and testing out his theories using Greece instead of truly fighting for its economic stability.
Tsipras wrote how the talks to stave off bankruptcy became “not just a way of achieving improved terms for Greece. They became a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
During volatile negotiations, the country found itself perilously on the brink of exiting the eurozone.
On the line lay not only the country's destiny but also the punishing cutbacks required in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action that threw Europe into a further crisis of identity.
Although the vote was carried decisively by those against the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan involving creating a secondary currency and issuing coupons to pensioners, the leader said he realised that it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the book, the author concludes how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further wrote that his aggressive approach left him more and more alone among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.
This retelling of events has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
