Within his newly released personal account, titled Ithaki, the ex- leader Alexis Tsipras does not hold back while he revisits that turbulent period during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, Tsipras chose that maverick academic Yanis Varoufakis as his finance minister mainly because of the latter's international reputation along with Varoufakis's “extremely attractive” skills as a communicator.
“He was, truthfully, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis possessed his own motives which involved advancing Varoufakis's publications and experimenting with his own game theories using the nation rather than truly fighting for its economic stability.
He wrote how the talks to prevent bankruptcy became “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During volatile discussions, the country found itself perilously close to leaving the eurozone.
At stake was not only the country's future but also the harsh austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
That summer, the harsh bailout terms were put to a public vote, an action that plunged Europe into a further existential crisis.
Although the vote was carried resoundingly by those who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a bailout package from foreign lenders that proved to be more severe.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further claimed how Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
This account of history has provoked fury along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence on the matter.
