Within his freshly published personal account, named Ithaki, the former premier Alexis Tsipras spares no criticism while he revisits that turbulent era of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, Tsipras chose that maverick academic Yanis Varoufakis to be his finance minister mainly because of his worldwide fame along with Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras suggests how his finance chief had his own agenda which included promoting Varoufakis's publications and testing out his own game theories on the nation rather than genuinely fighting for the country's economic stability.
Tsipras explained that the talks to avoid insolvency were “not just a method of achieving improved terms for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile negotiations, Greece found itself dangerously close to exiting the single currency area.
On the line lay both Greece's future and those severe austerity policies demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move which plunged Europe into further crisis of identity.
Even though the vote was won resoundingly by voters against austerity, Tsipras had little option but to reject its outcome then agree to a bailout package with creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted publicity, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader knew it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
He also claimed that his aggressive approach made him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were advocating Grexit.
This retelling of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
