In a freshly published personal account, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, Tsipras appointed that unorthodox economist Yanis Varoufakis as the finance minister mainly due to his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, truthfully, more of a personality and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader alleges that his finance chief had a personal agenda that included advancing his books as well as testing out his economic models using Greece rather than truly advocating the country's economic stability.
He wrote that those negotiations to prevent bankruptcy were “not only a method of achieving improved terms for the country. They were a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid tense discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line was not only Greece's future but also the severe austerity policies demanded in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those punitive conditions were subjected to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Although the vote was won resoundingly by voters against the cuts, the prime minister had little option but to reject its outcome and negotiate a bailout package from creditors which proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, the author concludes how Varoufakis had proved himself “unfit for an agreement that required complex and delicate handling.”
Tsipras further claimed how his confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
The account of history has been met with anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
