Within his freshly published personal account, named Ithaki, the former leader Alexis Tsipras does not hold back while he examines the turbulent era during Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, Tsipras selected that unorthodox economist Yanis Varoufakis as the treasury head largely due to the latter's worldwide fame along with his very persuasive abilities as a communicator.
“He was, in reality, more like a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own motives which involved promoting Varoufakis's books and testing out his economic models using the nation rather than truly advocating the country's financial survival.
Tsipras wrote that those negotiations to prevent bankruptcy became “not just a method of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line lay not only the country's destiny and the harsh cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, an action that plunged the EU into deeper existential crisis.
Even though the vote was won decisively by voters who opposed austerity, the prime minister was forced but to ignore the result and negotiate a bailout package with creditors that proved to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who graced the covers of publications the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts how his former ally demonstrated himself “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras further wrote that his confrontational style left him increasingly isolated among peers, endangered the country, while assisted hawks who were pushing for Grexit.
This account of events has been met with fury and stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
