Within his newly released personal account, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the turbulent era during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's recollections, he appointed the unorthodox economist Yanis Varoufakis as his finance minister primarily due to his global profile and his “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more like a star and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how his finance chief had a personal agenda that included promoting Varoufakis's books as well as experimenting with his game theories on the nation instead of genuinely fighting for its financial survival.
He explained that the talks to avoid insolvency were “not just a way to secure a better deal for Greece. They were an experiment, a monumental chance to prove the validity of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came perilously close to exiting the single currency area.
At stake was not only the country's destiny and the severe austerity policies demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, the punitive bailout terms were put to a popular referendum, a move that plunged the EU into a further crisis of identity.
Even though the referendum was carried decisively by those against the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy involving creating a secondary currency as well as distributing vouchers to retirees, the leader said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author asserts how Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate management.”
Tsipras further claimed that his aggressive approach made him increasingly isolated among peers, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
This account of events has provoked anger along with shock among certain groups, while the former minister has maintained a deafening silence on the matter.
